The global aerogel market was valued at US$ 512.9 Mn in 2016 and is estimated to reach US$ 8,083.7 Mn in 2026 at a CAGR of 31.8% from 2017 to 2026. The oil & gas segment in the global aerogel market is estimated to account for majority revenue share of 60.9% in 2017.
Aerogel is a synthetic substance obtained by replacing the liquid component with gas in the gel. Aerogel has extremely low density, high thermal resistance, and impact damping properties. Aerogels have greater thermal efficiency than conventional insulating materials such as glass-filled foams and fibers.
Commonly used aerogel types are silicon and carbon. Aerogel can be recycled and reused, hence increasing its application in various sectors and industries. Major factors fueling the growth of the global aerogel market include increasing globalization and urbanization, which has led to new investments in infrastructure development where aerogels panels and insulations are used. Major players are focusing on the development of eco-friendly aerogels, which is expected to further fuel growth of the global aerogel market. However, poor mechanical properties of aerogel is hampering the growth of the global aerogel market to a certain extent.
Companies profiled in the report are BASF, American Aerogel Corporation, Dow Corning, Cobot Corporation, Svenska Aerogel AB, Airglass AB, JIOS AEROGEL, Aspen Aerogels Inc., Active Space Technologies, Acoustiblok UK Ltd.