Aerogel Blanket: Introduction
- Demand for aerogel blanket has been rising at a rapid pace, especially in regions that experience extremely low temperatures. Aerogel blankets offer commendable thermal insulation. This is driving their popularity across the globe. Aerogel blankets can be as thick as 8 millimeters. This has also played a key role in propelling the market. Thermal blankets are used in a wide range of industries. Apparels and buildings are two key areas wherein aerogel blankets have gained prominence in recent times. Growth of the construction industry is estimated to pave the way for the expansion of the global aerogel blanket market. There have been several advancements in the field of apparel manufacturing. This is also driving the aerogel blanket market. Players in the global aerogel blanket market have several lucrative opportunities.
Key Drivers and Restraints of Global Aerogel Blanket Market
- Aerogel blankets are increasingly used in the aerospace sector. This has given an impetus to the global market. The aerospace industry attracts investments from global entities; therefore, demand for aerogel blanket is expected to rise further across the globe. The next few years are projected to bring in lucrative revenue into the global aerogel blanket market. Several industries deploy aerogel blankets as insulation materials. This has also boosted the growth prospects of the market. The durability of aerogel blankets coupled with their resistance to moisture has also played a crucial role in market growth.
- Rise in demand for aerogel blankets in the global energy sector has created opportunities in the global market. Furthermore, marine operations deploy aerogel blankets to act as thermal insulation barriers. This has also contributed to market growth. Shock and sound absorption properties of aerogel blankets have also aided market growth in recent times.
Aerogel Blanket: Type Segment
- In terms of type, the global aerogel blanket market can be segmented silica, polymer, and carbon
- The silica segment is expected to account for significant share of the global aerogel blanket market during the forecast period
Aerogel Blanket: Application Segment
- In terms of application, the global aerogel blanket market can be divided into oil & gas, automotive, cryogenic, performance coatings, and aerospace
- The oil & gas segment is anticipated to account for significant share of the global aerogel blanket market during the forecast period
COVID-19 Impact on Aerogel Blanket Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
- The outbreak of COVOD-19 pandemic has resulted in global lockdown and restriction in industrial operations and disruption in supply chain. Aerogel is used in various applications in industries such as oil & gas, transportation, and construction. These industries have been adversely severely affected due to the outbreak of COVID-19. Decrease in prices of oil, moderate growth of the automotive sector, and delay in construction projects across the globe in 2020 are adversely impacting the aerogel blanket market.
Asia Pacific to Dominate Global Aerogel Blanket Market
- In terms of region, the global aerogel blanket market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America and Europe are the major regions of the global aerogel blanket market. The aerogel blanket market in the U.S. and Canada has been expanding significantly, majorly due to advancements in aerospace and construction industries in these countries. Companies operating in the aerogel blanket market in Asia Pacific and Latin America are investing significantly in research and development activities.
Key Manufacturers Operating in Global Aerogel Blanket Market
The global aerogel blanket market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global aerogel blanket market include:
- Aspen Aerogels
- Cabot Corporation
- JIOS Aerogel
- Aerogel Technologies
- Guangdong Alison Hi-Tech
Global Aerogel Blanket Market: Research Scope
Global Aerogel Blanket Market, by Type
Global Aerogel Blanket Market, by Application
- Oil & Gas
- Performance Coatings
Global Aerogel Blanket Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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The following regional segments are covered comprehensively:
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- Latin America
- The Middle East and Africa
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2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
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