Frequently Asked Questions
The global aerogel market also suffered from the COVID-19 pandemic, which resulted in a decline of over 6.7% in revenue generated in 2020.
North America accounted for the highest share in the global aerogel market regarding value and volume.
The key factors driving the global market are the expanding application scope across various industries, particularly aerospace & automotive, eco-friendly material nature, and the rising demand for thinner and lighter materials with superior thermal insulation properties in various applications, including transportation, building and construction.
The silica segment had a major share in 2021, with more than 67% of the market revenue. Besides, the polymer is projected to witness the fastest growth.
Oil & Gas had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period.