Aerogel Market Forecast 2027 - Projected Growth & Opportunities
Global aerogel market is projected to grow at a significant rate during the forecast period, 2017-2027. The market growth can be attributed to the high demand from the oil & gas and construction applications. Besides, flexible use and direct consumption of virgin aerogels in the automotive sector and strong consumer awareness are fuelling the market growth. Additionally, rising demand for construction application and low demand for conventional insulation material are expected to propel demand for aerogel during the next five years. Owing to special molecular structure, aerogel acts as a barrier for heat transfer and is much lighter than conventional insulation products. Rapidly evolving battery technologies and growing adoption of electric vehicles are expected to drive the revenue growth of the global aerogel market. Increasing investment in Research and Development (R&D) activities by market players is also positively influencing the global aerogel mar...