Aerogel Market by Form (Blanket, Particle, Panel, Monolith), by Type (Silica, Polymers, Carbon, Others), by End Use Industry (Building and Construction, Oil and Gas, Automotive, Aerospace, Performance Coatings, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

According to the insights of the CXOs of the leading companies, the global aerogel market is expected to witness significant growth during the forecast period, owing to rise in adoption of aerogel on account of its lightweight and reusability. However, the major restraint of the market is its high cost of production. Conversely, surge in demand for aerogel products in various applications is anticipated to offer remunerative opportunities for market expansion during the forecast period.

The CXOs further added that many aerogel producers have developed their unique procedures to produce aerogel that is being commercialized through collaborations with end-use industries. This factor significantly contributes toward the growth of the global aerogel market.

Furthermore, increase in consumer acceptance of aerogel as an insulating material instead of the conventional products in the developing countries of Asia-Pacific and LAMEA is projected to fuel the market growth in the near future. Moreover, the commercialization of aerogel in its potential applications such as apparel, energy storage, oil spill cleaning, and space suit insulation significantly drives the market growth.