LONDON--(BUSINESS WIRE)--The global aerogel blanket market is expected to post a CAGR of almost 19% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Aerogel blankets are lightweight and exhibit high thermal efficiency, flexibility, and sound and shock absorption characteristics. For example, the National Aeronautics and Space Administration (NASA) uses aerogel blanket systems in a wide range of applications such as space shuttle upgrades, launch vehicle insulation, interplanetary propulsion, and life support apparel. These properties are leading to increasing applications in the aerospace industry for both commercial and high-end aerospace applications, leading to the growth of the global aerogel blanket market.
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As per Technavio, the growing demand for aerogel blankets in LMVs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global Aerogel Blanket Market: Growing Demand for Aerogel Blankets in LMVs
LMV manufacturers are replacing conventional engine insulation materials with aerogel blankets. The use of aerogel blankets provides excellent thermal insulation for vital components such as batteries, starters, electronic engine management controls, spark plug boots, and sensors in LMVs. This trend is expected to boost the growth of the global aerogel blankets market during the forecast period.
“Popularity of aerogel insulated apparel and the rising adoption of flexible aerogel blankets in cryogenics will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Aerogel Blanket Market: Segmentation Analysis
This market report segments the global aerogel blanket market by end-users (energy, construction, aerospace, automotive, marine, and others) and geography (the Americas, APAC, and EMEA).
The Americas region led the market in 2018, followed by APAC and EMEA, respectively. During the forecast period, the Americas region is expected to maintain its dominance over the market. This is due to the growing demand for aerogel blankets for thermal insulation in the energy and construction sectors in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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