Cellular Glass Market

Cellular Glass Market Size (2023-2028)

Cellular Glass Market is anticipated to grow in a significant way during the forecast period. It is estimated that the target market is supposed to grow from USD 525 million in 2022 to USD 620 million by 2028, registering a CAGR of 5.5% over the forecast period of 2023 and 2028.

Cellular glass or Foam glass is a foam material of porous glass, which has advantages as a building material such as its strength that was very high, light in weight, and thermal & acoustic insulating properties. This cellular glass was made when the mixture of crushed or granulated glass and a blowing agent such as carbon or limestone are heated. The blowing agent releases gas when it is at the melting point of the glass, which produces a foaming effect in the glass. The mixture will get hard after cooling and will get into a rigid material with gas-filled closed-cell pores, comprising the major portion of its volume.

The major reason for the growth of the market is the growing demand for the highest form of insulation for industrial purposes, all around the world. Also, the rising prevalence for protection against fire & longer life, increase in the awareness about foam glasses, and the high value of insulation foam glass are the factors that are accelerating the global foam glass market over the forecasted period of 2020 to 2025.

Drivers of the Cellular Glass Market:

The increased need for high-quality insulation for industrial purposes and for protection against fire & long life are the key factors that are driving the Global Cellular Glass Market. And the growing awareness about these cellular glasses and about high insulation value cellular glass are the factors that are likely to be boosting the growth of the Global Cellular Glass Market over the forecast period.

Challenges in the Cellular Glass Market:

However, factors like the high expense in the business of these cellular glasses and the lack of awareness among consumers about this cellular glass are the major challenges that are hindering the growth of the target market.

Opportunities in the Cellular Glass Market:

Further, favorable environmental regulations and the expansion of new application areas are creating lucrative opportunities for the expansion of the global cellular glass market.

CELLULAR GLASS MARKET REPORT COVERAGE:

Segmentation & Sub-segmentation of the  Cellular Glass Market as per the research report until 2028.

Cellular Glass Market – By Type:

• Open Cell Foam Glass

• Closed Cell Foam Glass

Among all of the glass types segments, the closed-cell foam glass segment accounted for the major share of the global market in terms of revenue and it is also estimated to be the fastest-growing segment during the forecast period by recording the highest CAGR over others. The major factors that are propelling the growth of this segment are its abilities such as high-temperature resistance, fire resistance, resistance towards corrosion, moisture resistance, high load-bearing strength, and pest resistance. These closed-cell foam glasses are also employed in applications like insulating inner walls of residential & commercial buildings, roof insulation, sound-proofing meeting halls, floor insulation, walls & bases of tanks, backfills, insulating pipes, embankments, roadbeds, and runway arrestor systems.

Cellular Glass Market – By Process:

• Physical
• Chemical

Cellular Glass Market – By End-User:

• Building & Construction

• Industrial

Among all of the above segments, the construction segment held the largest share of the market in terms of revenue. The major factors that are driving the segment's growth are the presence of stringent building codes and the growing usage of thermal insulation material with high load-bearing capacity in building constructions & other structures will continue driving the market growth. Also, the increasing usage of this cellular glass in commercial, residential, and civil constructions is perplexing further pushing the growth of the segment.

Cellular Glass Market – By Application:

• Building & Industrial Insulation

• Chemical Processing Systems

• Consumer Abrasive

• Construction

• Industrial

Of these, the Industrial segment is further sub-segmented into Cryogenic Systems, Heat Transfer Fluid Systems, Commercial Piping, and Building. Among all of these segments, the industrial insulation segment is the segment that held the major share of the market's revenue owing to its preference for usage as an insulating material for the majority of applications like integral temperature maintenance of chemical processing systems, bases of cryogenic tanks, piping insulation, and to provide safety against fire. It is also estimated that this segment is going to grow in the fastest way, recording a higher CAGR.

Cellular Glass Market – By Product:

• Blocks & Shells
• Foam Glass Gravels

Among all of these segments, the blocks & shells product type segment accounted for the major share of the market's revenue owing to its increased usage in the construction and industrial sectors. It is also expected that this trend is continuing over the forecast period.

Cellular Glass Market – By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

In the regional analysis of the Global Cellular Glass Market, Europe regional market held a significant share in the revenue aspect and is estimated to witness rapid growth during the forecast period. The tremendous requirement for thermal insulation in this region, owing to the cold climate in the countries that are in Europe, is driving the growth of the cellular glass market. Also, another factor that was propelling the usage of this insulation is the rising trend regarding the energy efficiency that is persisting in the region. Additionally, the stringent building codes and stringent regulations regarding fire-resistant insulation products are further increasing the demand for cellular glass in the area.

Recent Developments:

• Akzo Nobel, a key player in the cellular glass market, has signed a deal of marketing & distribution with Benarx Solutions AS to allow Akzo Nobel to combine their portfolio of wet-applied fire protection with Benarx’s solutions for dry fit passive fire protection in the oil & gas industry.
• Owens Corning, a renowned company that develops and produces insulation, roofing, and fiberglass composites around the world, has announced that it is going to award the Knox County Foundation about USD 10,000 in charitable grant funds.

Key Players in the Cellular Glass Market are listed in the research report.

1. Owens Corning (US),

2. Misapor AG(Switzerland),

3. Zhejiang Zhenshen Thermal Technology Co., Ltd. (China),

4. Zhejiang Dehe Insulation Technology Co., Ltd. (China),

5. Jahan Ayegh Pars Company (Iran),

6. POLYDROS, S.A. (Spain),

7. REFAGLASS sro (Czech Republic),

8. Uusioaines Oy (Finland),

9. Steinbach Schaumglas GmbH & Co. KG (Germany), 

10. Earthstone International LLC (US),

11. GEOCELL Schaumglas GmbH (Germany),

12. STES-Vladimir (Russia),

13. German Geo Construction GmbH (Germany),

14. Benarx (Norway),

15. Anhui Huichang New Material Co., Ltd. (China),

16. Liaver GmbH & Co. KG (Germany), and GLAVEL, Inc. (US).