Aerogel finds an array of applications in aerospace, oil and gas, automobile, marine, and construction, among various other industries. The material exhibits low density, high porosity, and high thermal and acoustic damping. Moreover, aerogels are good substitutes for thermal insulation while being cost-effective; these factors are projected to drive the global aerogel market during the forecast period, 2019–2026.
The silica aerogel segment is gaining traction in the aerospace industry, owing to the material’s lightweight and superior insulation. Furthermore, in the construction sector, silica aerogel is used in glass units, architectural panels, and tensile roofing systems. Silica aerogel has low thermal conductivity, low density, low refractive index, high transparency, and low sound speed, which makes it suitable for applications in various industrial verticals.
Geographically, the global aerogel market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
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North America holds the largest share of the market, owing to the extensive usage of aerogels in various industries across the region. The U.S. dominates the North America Market, with the country’s government taking various steps for the development of aerogels in the region. Asia-Pacific is a developing region in the global aerogel market, driven by the expansion of the region’s automobile and construction sectors. Europe holds the second-largest position in the aerogel market due to the presence of giant economies such as Sweden and the U.K. Advancements in technologies and heavy investments are some of the factors driving market growth in the region. LAMEA is an emerging region in the market, owing to the firmly established oil & gas sector in the Middle East that extensively utilizes aerogels. Moreover, Africa’s expanding industrial landscape, with low labor cost and easy availability of labor, is projected to drive market growth in the region.
The global aerogel market is segmented on the basis of type, form, application, and region.
On the basis of type, the market is segmented into silica, polymer, carbon, and others. The silica segment holds a significant share of the market, owing to the increasing demand from end-use sectors due to its low cost and easy availability. On the basis of foam, the market is segmented into blanket, panel, particle, and monolith. The blanket segment holds a significant share in the market, owing to applications in construction and other industrial applications due to aerogel blankets insulation properties. On the basis of application, the market is segmented into oil and gas, construction, performance coating, transportation, daylighting LVHS, and others. The transportation segment is further sub-segmented into automotive, aerospace, and marine. Aerogel is widely used in the oil and gas sector, owing to its excellent thermal resistance capability, and thus, the sector accounts for a significant share of the market.
Aerogel Market Segmentation
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