Report Description Report Description and Highlights

Global Aerogel Market Trends :

The global market is primarily driven by a significant increase in the demand for aerogels from numerous end use industries. They are extensively used in the oil and gas sector for insulation purposes. Since insulation is crucial for temperature control in the industry, and aids in reducing thermal loss while improving efficiency at the same, it is being increasingly adopted in the oil and gas sector for various operations. Aerogels are also widely used in the building and construction industry, owing to their excellent insulation properties. These solids are increasingly replacing traditional insulation materials, such as perlite, mineral wool and polyurethane foam, on account of their higher thermal efficiency. Aerogels are also thinner as compared to the other materials, which makes them a preferred choice for construction purposes as thinner insulation materials offer superior loading capacity with additional floor area. Apart from this, they are also utilized for the manufacturing of wetsuits and spacesuits in the aerospace industry. Manufacturers are also focusing on the development of polymer-based variants with improved strength and flexibility, which is anticipated to create a positive outlook for the market. The advent of organogels is further providing a stimulus to the market growth. These monolithic aerogels are made up of self-assembled small organic molecules and are derived from a single amino-acid based supramolecular gel. They have extremely low densities and are considered to be much lighter than traditional variants. On account of the aforementioned factors, the market is projected to reach a value of US$ 1,391.6 Million by 2027, expanding at a CAGR of 10.09% during the forecast period (2022-2027).

Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).