Silica aerogel is used in thermal insulation systems, as it has the potential to substitute traditional insulation materials like fiberglass, polystyrene foam, cellulose, mineral wool, and polyurethane foam, and the systems made with this synthetic material consume less energy. Silica aerogel with low thermal conductivity offers more benefits than the traditional materials used for thermal insulation. Moreover, its efficiency in transmitting solar radiation increases its importance in the construction industry, and its transparency property makes it suitable for windows and skylights, which are used in buildings, for the insulation process.

Moreover, surging application of silica aerogel in the oil & gas sector will increase the revenue of the silica aerogel market from $273.0 million in 2015 to a substantial size by 2022. The installation process for this material is easy and quick that reduces the cost incurred by fabricators and installers. According to P&S Intelligence, the market will showcase a CAGR of 31.1% during forecast period.

Additionally, the eco-friendly characteristic of silica aerogel is one of the key reasons behind its widening application base. The material is manufactured by using environment-friendly raw materials that are similar to natural substances, such as silicates, which are available in abundance and do not emit toxic chemicals. Moreover, the recyclable feature of silica aerogel sponges makes them cost-effective and eco-friendly. Due to these properties, the usage of this material has escalated in several sectors, such as healthcare, building insulation, aerospace, oil & gas, and construction.

Geographically, North America consumed the maximum quantity of silica aerogel in 2015 and the U.S. emerged as the largest consumer in the world. This is due to the comprehensive research and development (R&D) conducted by the National Aeronautics and Space Administration (NASA) on silica aerogel. On account of its exceptional thermal insulation property and lightness, the aerogel was utilized by NASA for the Mars Exploration Rover Mission. The space agency is also working toward curtailing the production cost of silica aerogel to make it viable for commercial purposes.

Thus, the excellent insulation and eco-friendly properties of silica aerogel will increase its application in the coming years.