Aerogel Industry Forecast: USD 7.5 Billion by 2032, North America Leads in Innovation

Due to technological advances in this area, North America led the world market, followed by Asia Pacific. The global aerogel industry size is estimated to be USD 1.5 billion by 2022 and forecasts annual growth of 17% worth USD 7.5 billion through 2022 to 2032.

The global aerogel market is on the rise due to increased applications of aerogel in industries such as oil & gas, marine, automotive, and aerospace. Aerogel is an extremely low-density solid material, mainly composed of air, and is manufactured using conventional gel. The global aerogel market consists of materials exhibiting numerous properties, making them suitable for the applications in aforementioned industries. These properties include