New York, USA, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global cellular glass market. According to the report, the global market is projected to surpass $724.8 million and grow with a CAGR of 5.4% in the estimated period, 2020-2027. This all-inclusive report delivers a comprehensive overview of the current and future situation of the cellular glass market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
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Factors Impacting the Cellular Glass Market Growth:
The growth of the global cellular glass market is rising owing to the growing demand for cellular glass in the building & construction sector as an insulation material in the construction of walls, floors, and rooftops. Moreover, the rising global population and a growing number of construction projects across the world are estimated to unlock lucrative opportunities for the market’s growth in the forecast period. However, properties of cellular glass such as fragility, vulnerability to induced damage owing to vibrations, and high cost are anticipated to hamper the market growth.
The report segments the global cellular glass market into product type, type, application, and region.
Blocks and Shells Sub-Segment to Grab a Foremost Share of the Cellular Glass Market
The blocks and shells sub-segment of the product type segment is foreseen to grow with a CAGR of 5.0% in the forecast period. This growth is mainly because of the flexibility of using blocks and shells cellular glass in several construction projects in areas like foundations, landscaping, and backfills.
Closed Cell Sub-Segment to Grab a Foremost Share of the Cellular Glass Market
The closed cell sub-segment of the product type segment is foreseen to grow with a CAGR of 5.1% in the forecast period. This growth is mainly because of the growing use of closed cell cellular glass as the cells in this type of glass are pressured together to prevent the air and moisture from getting inside the foam.
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Construction Sub-Segment to Hold Foremost Market Share
The construction sub-segment of the application segment is estimated to grow with a CAGR of 5.2% in the forecast period. This growth is primarily owed to the rising adoption of cellular glass in construction projects, as this type of glass is highly durable and offers high-quality insulation.
Asia-Pacific Region to Perceive Maximum Growth
The report analyzes the global cellular glass market across several regions such as Asia Pacific, North America, Europe, and LAMEA. Among these, the Asia-Pacific market is projected to grow with a CAGR of 5.6% in the estimated period. The growth of the region market is mostly because of the growing adoption of cellular foam in construction projects in this region.
Top Players of the Global Cellular Glass Market
The report states some of the foremost players operating in the global cellular glass market such as
- CNUD-EFCO Operations S.A.
- Owens Corning
- Amity Insulation Group Inc.
- SZECO Insulation Technology Co. Ltd.
- Zhejiang Zhenshen Insulation Technology Corp., Ltd.
- Zhejiang Dehe Insulation Technology Co., Ltd.
- Jahan Ayegh Pars Co.
- Pinosklo
- Benarx
- Polydros Sociedad Anonima (S.A), others.
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market. – Buy the Full Report Here Started at - $2999 (Read-Only)
For instance, in January 2022, Owens Corning, an American manufacturer of roofing, insulation, and fibreglass composites and related materials & products, launched FOAMGLAS® Perinsul® SIB as a thermal bridging solution for advanced constructions.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Cellular Glass Market:
- Cellular Glass Market: Innovating Newer Strategies and Propelling towards a New Height
- Cellular Glass: The Future of Glass Recycling
