Silica Aerogel Market Share

Regionally, the global silica aerogel market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is predicted to dominate majority revenue share by 2036, owing to rapid growth and increasing revenues in the aerospace & defense (A&D) industry. For instance, the A&D industry sales in the United States contributed to a combined economic value of USD 380 billion, which represents 1.5% of the U.S. gross domestic product. Over USD 88 billion worth of A&D exports were exported from the U.S. in 2020, which accounted for about 6% of all domestic exports. Moreover, as a result of the growing use of silica aerogel products in automotive and marine applications in the region, along with an increase in thermal insulator demand and a shift towards eco-friendly materials, the silica aerogel market in the region is anticipated to grow during the forecast period.