Pune, Oct. 12, 2023 (GLOBE NEWSWIRE) -- According to a report from SNS Insider, The Foam Glass Market worth was assessed at USD 1.90 billion in 2022, and it is anticipated to attain USD 2.93 billion by 2030, reflecting a compounded annual growth rate (CAGR) of 5.6% during the forecast period of 2023-2030.
Market Report Scope
Foam glass is an excellent thermal and acoustic insulator, making it an ideal choice for various applications in the construction, industrial, and transportation sectors. Foam glass is made by heating a mixture of crushed glass, carbon, and foaming agents at high temperatures, resulting in the formation of a molten mass. The mass is then poured into a mold, where it undergoes a cooling process that allows it to solidify into a foam-like structure.
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Market Analysis
The foam glass market is poised for significant growth in the near future, thanks to a surge in demand for the highest form of insulation for industrial applications. This trend is fueled by increasing awareness about the benefits of foam glass, such as its excellent fire protection properties, extended lifespan, and exceptional insulation value. As a result, the market is expected to see an uptick in growth rate. One of the key drivers behind this growth is the widespread use of foam glass in civil construction projects such as bridges and roadbeds, where its lightweight properties make it an attractive option. In addition to its weight advantage, foam glass is also highly durable and resistant to water damage, making it a top choice for these types of applications.
Foam Glass Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 1.90 billion |
| Market Size by 2030 | US$ 2.93 billion |
| CAGR | CAGR of 5.6% From 2023 to 2030 |
| Key Segments |
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| Company Profiles | Glapor, Polydros S.A, Owens Corning, Ltd., Refaglass, Zhejiang Zhenshen Insulation Technology Corp., Anhui Huichang New Material Co., Ltd., Earthstone International, MISAPOR, Zhejiang Dehe Insulation Technology Co., UUSIOAINES OY, and other players |
| Key Drivers |
|
| Market Opportunity |
|
Impact of Recession
The impact of a recession on the foam glass market can vary depending on the severity and duration of the recession. In some cases, a recession can actually lead to an increase in demand for foam glass as consumers and businesses look for cost-effective ways to save energy and reduce their expenses. Foam glass insulation is a long-term investment that can provide significant energy savings over time, which can be particularly attractive during a recession when budgets are tight.
Key Regional Development
The foam glass market is witnessing significant growth and Europe is emerging as the dominant player in terms of market and revenue share. One of the primary reasons behind this is the increasing demand for foam glass in the region. The growing awareness about environmental conservation and the need for sustainable insulation materials is driving the demand for foam glass in various end-user industries in Europe. Foam glass is a highly eco-friendly insulation material that is made from recycled glass. It offers excellent thermal insulation and soundproofing properties, making it a popular choice among builders and contractors.
Key Takeaway from Foam Glass Market Study
- Open cell foam glass is a promising segment in the market that is likely to dominate in the coming years. Its unique properties and increasing demand from various industries make it a worthwhile investment for manufacturers and consumers alike.
- The building and industrial insulation segment is expected to dominate the market in the coming years. This is primarily due to the growing demand for energy-efficient buildings and industrial facilities. Foam glass provides excellent thermal insulation and can help reduce energy consumption and greenhouse gas emissions.
Recent Developments Related to Foam Glass Market
- Honeywell and Central Glass have announced the extension of their partnership to meet the growing demand for ultra-low-global-warming-potential (GWP) refrigerants. The partnership is aimed at developing and supplying high-performance refrigerants that have minimal environmental impact, in line with global efforts to mitigate climate change.
- CEMATRIX, a leading manufacturer of cellular concrete products, has announced a strategic investment commitment of USD $4 million to Glavel Inc., a manufacturer of insulation made from recycled glass. This investment will help Glavel to expand its production capabilities and accelerate the development of new products that meet the growing demand for sustainable and energy-efficient building materials.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Foam Glass Market Segment, By type
8.1 Open Cell Foam Glass
8.2 Closed Cell Foam Glass
9. Global Foam Glass Market Segment, By process
9.1 Physical
9.2 Chemical
10. Global Foam Glass Market Segment, By end-use industry
10.1 Building & Construction
10.2 Industrial
10.3 Others
11. Global Foam Glass Market Segment, By application
11.1 Building & Industrial Insulation
11.2 Chemical Processing Systems
11.3 Consumer Abrasive
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Glapor (Germany)
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 MISAPOR (Switzerland)
13.3 Polydros S.A.(Spain)
13.4 Refaglass (Czech Republic)
13.5 Owens Corning
13.6 Zhejiang Dehe Insulation Technology Co., Ltd.
13.7 Zhejiang Zhenshen Insulation Technology Corp.
13.8 UUSIOAINES OY (Finland)
13.9 Earthstone International
13.10 Anhui Huichang New Material Co., Ltd.
14.Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
15. Conclusion
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