Global Aerogel Market (Raw Material Type, Forms, Applications, Geography) - Industry Analysis, Trends, Share, Opportunities and Forecast, 2013- 2020 the global aerogel market is forecast to reach $1,896.6 million by 2020 from $221.8 million in 2013, registering a CAGR of 36.4% during forecast period (2014 - 2020). North America and Europe collectively will generate near about two-third of the market revenue by 2020. In terms of volume, the market is expected to reach 953.1 million sq ft by 2020, from 105.6 million sq ft in 2013. Though the consumption of aerogel is spread world over, largely evenly, over 85% of the aerogel production facilities are located in North America and Europe. Aerogel is chiefly referred as a strong insulator, with its better thermal insulation capacity than conventional alternatives. However, due to relatively higher prices, its mass adoption was limited to sophisticated applications in oil & gas industry and aerospace. Nevertheless, due to advent of various cost-efficient aerogel manufacturing techniques, it has now emerged as a better alternative in many applications such as automotive, healthcare, chemicals, electronics, and building insulation. With multitude of favorable drivers such as supporting policies pertaining to green infrastructure in European and Middle Eastern countries, the market is anticipated to have widespread adoption, especially in building insulation segment. In the meantime, the need for efficient and easy to install thermal insulations, higher thermal resistance, thinner & lighter solutions for industry purposes, and reusability has been other primary factors elucidate the market growth.