About this market
Growing demand for aerogel blankets in LMVs to drive market growth. Several vehicle manufacturers are shifting from traditional engine installation materials such as glass filled foams, fibers, and metals, toward aerogel blankets. The analysts have predicted that the aerogel blanket market will register a CAGR of close to 19% by 2023.
Market Overview
Growing adoption of aerogel blankets in construction industries
The adoption of stringent regulations in countries such as the UK, China, and EU member states to reduce emissions from buildings has aided the shift from traditional thermal insulation to aerogel blankets.
Dust accumulation in aerogel blankets
This has been a major challenge in the market over last few years as dust can cause contamination in critical end-user industries such as aerospace.
For the detailed list of factors that will drive and challenge the growth of the aerogel blanket market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Aspen Aerogels and BASF the competitive environment is quite intense. Factors such as the rising demand for aerogel blankets in LMVs and the growing adoption of aerogel blankets in construction industries, will provide considerable growth opportunities to aerogel blanket manufactures. Aspen Aerogels, BASF, Cabot Corporation, JIOS Aerogel, and Svenska Aerogel Holding are some of the major companies covered in this report.