Silica Aerogel Market Analysis

The global silica aerogel market is segmented and analyzed for demand and supply by form into monolith, blanket, article, and panel. Among these segments, the blanket segment is anticipated to capture the largest market size in the global silica aerogel market owing to the expansion of the oil and gas industry and higher consumption of petrol and gas in various regions. For instance, India's petroleum consumption in Financial Year 2022 was nearly 200 MMT. Natural gas consumption in India is expected to grow by 24 BCM by 2024, growing at an average rate of 8% each year. In 2030, India plans to raise its refining output to 500 million tons. In the oil and gas industry, aerogel blankets are used to improve the insulation of deep-sea pipes and pipelines in order to lower production costs, increase pipeline compression resistance, and reduce steel usage in construction. Furthermore, aerogel insulators are hydrophobic, mechanically strong, and exhibit exceptional thermal properties. As aerogel blankets have a flexible physical structure, they can be cut and modified to meet specific requirements in a variety of industries, including construction, automotive, marine, and aerospace. Thus, widespread utilization in various end use industries is also expected to drive segment growth during the forecast period. 

Our in-depth analysis of the global silica aerogel market includes the following segments: