Market Overview
- The Global Foam Glass Market is expected to grow at a CAGR of 6.4% during the forecasting period (2020-2027).
- Foam glass is a porous glass foam material. Its benefits as a building material include its lightweight, high strength, and thermal and acoustic insulating properties. The physical characteristics of water absorption and moisture absorption create the advantages of non-thermal insulation, no corrosion, and no leakage, and extend the service life of the whole system.
- It is prepared by heating a mixture of crushed or granulated glass and a blowing agent (chemical foaming agent) such as carbon or limestone. Near the melting point of the glass, the blowing agent releases a gas, producing a foaming effect in the glass. After cooling, the mixture hardens into a rigid material with gas-filled closed-cell pores comprising a large portion of its volume.
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Market Dynamics
- Protection against fire and longer life and favorable environmental regulations are the driving factors for the growth of the market globally. The control of the heating rate is one of the most important factors in optimizing the foam glass product. The foam glass wall insulation material is one of the new environmental protection Insulation Materials, which has the characteristics of environmental protection, safety, comfort, and economy. It not only continues the long-term use of ordinary glass but also brings us more new functions. Usually, foam glass is used on the wall decoration, because it can not only absorb heat but also absorb a lot of noise pollution for us, so it is called green environmental protection new material by many industries. The exterior wall Cellular Glass can be quickly ingested when used because the non-toxicity of the material itself is also very popular.
- However, the Huge cost of foam glass is the key restraint hampering market growth worldwide.
Market Segment Analysis
- By Type, the global foam glass market is classified into an open cell, closed cell, white foam glass, and others. Others are again divided into multicolor and black foam glass. The global foam glass market size by closed-cell was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The closed-cell structure provides an unmatched combination of physical properties ideal for piping and equipment above ground, as well as underground, indoors or outdoors, at operating temperatures from -450°F to +900°F (-268°C to +482°C).
- Pittsburgh Corning, LLC. Has launched FOAMGLAS® ONE™ insulation. This has a homogeneous, closed-cell glass structure that resists moisture in both liquid and vapor forms and results in long term, constant insulating efficiency. FOAMGLAS® ONE™ insulation is free of CFC’s and HCFC’s and has been formally recognized as an ecologically friendly, sustainable construction material.
- By End-Use Industry, the global foam glass market is divided into commercial, residential, and industrial. The global foam glass market size by commercial segment was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
- By application, the global foam glass market is segmented into a chemical processing system, building and industrial insulation, cryogenic systems, and others. Others include commercial piping and building. The global foam glass market size by the chemical processing system was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
Market Geographical Analysis
- The Europe foam glass market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Europe is expected to be one of the major market shareholders in the forecast period. Increasing interest and demand for environment-friendly insulating materials in different end-use industries are the major driving factors for the market growth. Norway, Sweden, and Germany are the key economies to grab huge market share in the European region.
- Manufacturers are focusing to acquire the companies to expand their market size in Europe. For instance, Owens Corning announced that it has signed an agreement to acquire Pittsburgh Corning, the world’s leading producer of cellular glass insulation systems for commercial and industrial markets. The acquisition of Pittsburgh Corning will further expand Owens Corning’s commercial and industrial product offerings and grow our presence in Europe.
Market Competitive Trends
- The Foam Glass market is competitive with existing players in the market. Some of the major players include Refaglass, Geocell, Glamor, AeroAggregates, Ningbo Yoyo Foam Glass Co., Ltd, Misapor AG, Earthstone International, Pinosklo, Gravel, and Beijing ShouBang New Materials Co., Ltd.
- Manufacturers are focusing to acquire the companies to expand their market size.
- For instance, Owens Corning announced that it has signed an agreement to acquire Pittsburgh Corning, the world’s leading producer of cellular glass insulation systems for commercial and industrial markets
- In January 2019, AeroAggregates announced that it has opened a second kiln as it increases the production of the foamed glass aggregate it now sells in parts of the Northeast.
- In Vermont, Burlington-based Gravel is currently importing foamed glass from a German manufacturer but plans to open a 12,000-square-foot plant in St. Albans, Vermont, next year as it sees increased demand ahead.
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