Aerogel Market to Witness Growth at a CAGR of 15.1% During the Forecast Period 2022-2028

Posted on 2022-08-08 by researchinsights in Chemicals // 0 Comments

San Francisco, California , USA, Aug 08, 2022 — /EPR Network/ —

Aerogel Industry Overview

The global aerogel market size was valued at USD 818.9 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 15.1% from 2020 to 2028.

The rapid development of the aerogel for high-temperature insulation primarily in the oil & gas industry, due to low thermal conductivity is expected to drive the market over the forecast period. The market witnessed a notable impact due to the global pandemic in 2020. The lockdowns imposed across various regions resulted in a delay of the new construction related to insulation in the oil & gas industry and led to limited growth of the market. However, the product usage in critical application for critical MRO activities was responsible for the market growth in 2020.

Gather more insights about the market drivers, restrains and growth of the Global Aerogel market

The halt in production activities also led to a supply shortage of precursor materials for aerogel production. In addition, the lockdown strategies restricted transportation, thus, creating a global supply chain disruption. These trends also caused a shortfall in the supply of aerogel materials in the end-use industries thereby negatively impacting the market in 2020.

The government in the U.S. is constantly offering subsidies and promoting the use of Electric Vehicles (EVs). In addition, it is encouraging OEMs and part suppliers through various aids for product development and boosting EV production. Thus, the recent development of a product line of aerogel thermal barriers for utilization in lithium-ion batteries in EVs is expected to offer growth opportunities to the market.

Industry participants are exploring thin polymer aerogels for use in shelter applications, such as insulated tents, updating historical structures, and other insulation needs. These are gaining popularity across the interior insulation solutions for building retrofit, thin facade insulation for the renovation of historical monuments, roof balcony, and side balcony constructions.

The market exhibits a highly consolidated structure owing to the presence of a limited set of players majorly located in the North America and Europe regions. The key players in the industry are investing in research and development to reduce the manufacturing cost and ramp up the production capacity to cater to the expected rise in demand in the future.

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.

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Aerogel Market Segmentation

Grand View Research has segmented the global aerogel market on the basis of product, form, end-use, technology, and region:

Aerogel Product Outlook (Revenue, USD Million, 2017 – 2028)
- Silica
- Polymers
- Carbon
- Others
Aerogel End-use Outlook (Revenue, USD Million, 2017 – 2028)
- Oil & Gas
- Building & Construction
- Automotive, Aerospace & Marine
- Performance Coatings
- Other End-uses
Aerogel Form Outlook (Revenue, USD Million, 2017 – 2028)
- Blanket
- Particle
- Panel
- Monolith
Aerogel Technology Outlook (Revenue, USD Million, 2017 – 2028)
- Supercritical Drying
- Other Technologies
Aerogel Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Aerogel market include

Cabot Corp.
BASF SE
Nano Technology Co., Ltd.
Dow, Inc.
Enersens

Order a free sample PDF of the Aerogel Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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