ID: MRFR/CnM/6807-HCR | February 2021 | Region: Global | 111 pages
Foam Glass Market value is expected to reach $2.5 billion by the year 2027, with a CAGR rate of 5.6%.
Foam glass is a lightweight and rigid material with durable insulation. Foam glass is composed of sealed glass cells. It provides incombustibility, strength, and long-lasting thermal insulation. It comes in various sizes and types to fulfill the different types of insulation requirements of many construction works. Foam glass is widely used in many commercial and industrial applications. Forma glass has the ideal properties that make it perfect for pipes, tanks, vessels, and other things. It gives high-performance and long-lasting insulation ability to the infrastructure.
Foam glass can be formed from recycled glass, and it is the future of glass recycling before the foam glass was only produced with the help of virgin glass. Recently the manufacturers are using 98% recycled glass in the manufacturing process of foam glass. Foam glass doesn’t produce toxic gas during the production process due to its porous body. It is lightweight, so it floats in water, and it has the ability to resist fire. Even when it is wet, it can retain its insulation properties due to its low water absorption properties. Plastic worms and insects can’t affect it. Due to so many properties, foam glass offers great benefits in the building and construction sector, and it is driving the foam glass market growth.
Growing demand for the highest form of insulation in the construction process will propel the foam glass market growth as well. There across many factors that are boosting the foam glass market size, such as its prevalence to fire, rising awareness about recycled products, and others. Apart from the growth of industries in various regions, and adoption of form glass in those industries also propel the foam glass market in the foam glass market forecast period. The industries are highly dependent on their machines to increase their productivity and efficiency. The foam glass is used in machines majorly for its so many properties like fire-proof, water-resistant, non-toxic, insulating, and non-aging.
The outbreak of Coronavirus was started in Wuhan city. After that, it spread all over the world. Now it has become a global pandemic. Governments around the world are trying to fight against the virus and reducing its spread. Due to this, governments around the world have imposed lockdown and social distancing guidelines. Due to this, the industries are highly affected, and the production works are at a halt. Lack of production has affected the demand and supply of products. The construction industries are the major consumer of foam glasses, and due to the lockdown, the construction works are on a halt, and it has decreased the demand for foam glass. The production of foam glass is also affected due to the pandemic. Further, the restriction in import, export has led to a gap between the demand of supply of foam glass. The foam glass market key players are trying their best to increase the demand of the market in this pandemic. The market is expected to see high demand after the Post-Covid situation.
The major key players in the foam glass market are:
The drivers of the market are responsible for the market growth. In the foam glass market, there are many drivers that are boosting the demand of the market. One of the major drivers of the foam glass market is rising construction work around all the regions in the world. The growing economic condition in the world and due to that the industrialization and construction work is also increasing. Foam glass is widely used in industries and construction due to its many properties such as fire-proof, water-resistant, insulation, and strength. It is also used in the manufacturing process of machines for industries. Among all the industries, the need for insulation glass is rising at a rapid pace. The commercial and residential properties are using insulating glass material due to its fire resistance properties. For example, in 2016, 45% of the foreign investment in the United States was in the manufacturing sector, and According to the Organization for Economic Co-operation and Development (OECD), the manufacturing firms will grow in the US. As a result, is the propelling the foam glass market trends of form glass are environment-friendly, the adoption of environment-friendly materials is rising at a faster rate. Further, the government initiatives to use eco-friendly materials driving the growth of the foam glass market.
The foam glasses are widely used in the civic construction of roadbeds, bridges due to their lightweight properties. Apart from that, foam glass can be recycled, and the production process of it doesn’t produce toxic things. These factors will generate opportunities for the foam glass market. Apart from that, the growing demand for foam glass in infrastructure, especially in developing nations, will bring more opportunities for the foam glass market.
One of the biggest restraints in the foam glass market is its high installation cost. As a result, the residential and commercial organizations are using substitutes. Foam glass is very fragile in nature; as a result, it will require more attention in the installation process.
There are many challenges faced by the foam glass market, just like any other market. One of the major challenges in the market is the lack of awareness about foam glass in underdeveloped nations. The key players are trying to overcome these challenges in the foam glass market and increase the demand of the market in the forecast period.
Cumulative growth analysis
The wide application of foam glass in industries and construction sectors will boost the market growth in the coming years. The foam glass market is registering healthy CAGR over the years, and it will register a CAGR of 5.6% by the end of the year 2025. The key players are contributing a lot to the market, and they will increase the market demand more in the future.
On the basis of type, the foam glass market is divided into open-cell and closed-cell. Opened cell foam glass is a widely used foam glass because it is an acoustic dampener and is noncombustible. The opened cell can be recycled, and it is fragile and have high porosity. Closed-cell holds the largest foam glass market share due to its heat insulation and sound insulation properties. Closed-cell is also moisture-proof, so the demand is high.
On the basis of end-use, the foam glass market is divided into physical and chemical. The physical segment of the market holds a 15% share. Most of the manufacturer uses the chemical process because it offers better heat insulation and corrosion resistance.
By application, the foam glass market is segmented into the building and industrial installation and chemical system. Foam glasses are highly used in industries and buildings due to heat insulation and sound resistance properties. Foam glass is also a great insulator of corrosive chemicals because it doesn’t get affected by it, so it is widely used in the chemical process as well.
The major regions in the foam glass market are North America, Europe, Asia-pacific, the Middle East and Africa, and Latin America. The North American region is driven by the presence of big chemical industries and the high use of foam glass in the building insulation process. Europe holds the highest share in the foam glass market. There are big countries in this region and industries that are using foam glass; as a result of the demand for foam glass market in this region. Asia-pacific is the fastest-growing region, and it is expected to register a high CAGR rate in the foam glass market due to the growth of manufacturing industries and economic development in the market. The Middle East and Africa have a small market due to the application of foam glass only in the oil refining industry. Latin America will show moderate growth in the market due to rising industrial capabilities.
This global foam glass market report is based on the qualitative and quantitative analysis of the foam glass market. This report highlights the foam glass market outlook on the market overviews, covid-19 analysis, market dynamics, and foam glass market analysis. This foam glass market also shows the regional analysis, competitive landscape, and recent development of the market.
On the basis of type
On the basis of end-use
On the basis of application
|Market Size||2027: USD 2.5 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Process, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Glapor (Germany), MISAPOR (Switzerland), Polydros S.A.(Spain), Refaglass (Czech Republic), Owens Corning (US), Zhejiang Dehe Insulation Technology Co., Ltd. (China), Zhejiang Zhenshen Insulation Technology Corp. (China), UUSIOAINES OY (Finland), Earthstone International (US), Anhui Huichang New Material Co., Ltd. (China)|
|Key Market Opportunities||The foam glasses are widely used in the civic construction of roadbeds, bridges due to their lightweight properties.|
|Key Market Drivers||Rising construction work around all the regions in the world.|
Frequently Asked Questions (FAQ) :
Global foam glass market is estimated to hold a market value of USD 2.5 billion by the end of 2025.
The expected CAGR rate of the foam glass market in the forecast period is 5.6%.
The flawless thermal and acoustic insulation is the market USP of the global foam glass market.
The global foam glass market can be segmented on the basis of type, end-use, process, application, and region.
Geocell, MISAPOR, Pittsburgh Corning UK Ltd., Anhui Huichang New Material Co., Ltd are some of the established players of the global foam glass market.
Europe holds the highest share in the foam glass market.