By Dr James Edmondson, Principal Technology Analyst, IDTechEx
Historically, the aerogel market has experienced slow and steady growth. With the newly found demand for thermal insulation and fire protection in electric vehicle (EV) batteries, aerogel manufacturers are making big plans and investments in order to scale up in preparation to serve this new market. IDTechEx forecasts a growth in demand of over 12-fold for aerogel revenue for EV battery applications.