Silica Aerogel Market Key Players, Trends, Growth Opportunities
and Industry Forecast till 2023
“Global Silica Aerogel Market is anticipated to grow
considerably in the forecast period owing to the growing
demand from several end-use industries like building &
construction, oil & gas, automotive, aerospace,
performance coating and marine.”
Global Silica Aerogel Market is anticipated to grow considerably in the forecast period owing to the growing
demand from several end-use industries like building & construction, oil & gas, automotive, aerospace,
performance coating and marine. Aerogel is the synthetic ultra-light material derived from gel, where the liquid
element of the gel is replaced with gas.
Silica aerogels are the most common type of aerogel varieties. It is a nanostructured material with high specific
surface area, low density, low dielectric constant, high porosity, and excellent heat insulation properties. The
different type of aerogels used are carbon, silicon, and polymers, etc. Silica aerogels are most widely used, which
are derived by a revised stober process. Silica aerogel hold multiple properties like cost-effective, enhanced
thermal insulation and recyclable, due to which it is used in several end-user industries. Owing to these
properties, market is projected to rise considerably with a CAGR of 22.06% in the coming years.
The increase in demand from the end-user industries is one of the major driving forces of silica aerogel market.
The rising industrialization and urbanization in the emerging nations worldwide is another driving factor for the
market. Furthermore, the increasing energy demand has propelled oil & gas sector, which again is expected to
affect the growth of the market in the years to come. The emerging economies and changing lifestyle has
majorly impelled the growth of construction segment, thereby driving silica aerogel market.
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