EVs to Dominate Aerogel Applications by 2025, Reports IDTechEx

News Snapshot:

BOSTON, Aug. 22, 2023 /PRNewswire/ — Aerogels have experienced steady market growth historically, reaching a market of just under US$450 million in 2022. Progress has been somewhat slower than some would expect; this has largely been due to competition with lower-cost incumbent insulation materials. However, the emergence of aerogels as a fire protection material for electric vehicle (EV) batteries provides a new and rapidly growing opportunity for the aerogel market. IDTechEx’s latest market report, “Aerogels 2024-2034: Technologies, Markets and Players“, predicts that EV batteries will account for over half of the aerogel market by 2025. Benefits to EVs Aerogels are...