Cellular Glass Market worth $618 million by 2025 | Key Players include Owens Corning, Misapor AG, Zhejiang Zhenshen Thermal Technology, Zhejiang Dehe Insulation Technology, Jahan Ayegh Pars Company
Browse 64 market data Tables and 35 Figures spread through 109 Pages and in-depth TOC on "Cellular Glass Market - Global Forecast to 2025"
High-quality insulation for industrial purposes and protection against fire and long life are the driving factors for the growth of the cellular glass market. Also, environmental regulations and new application areas are projected to boost the demand for cellular glass in the coming years.
The blocks & shells segment dominated the cellular glass market in 2019 on account of the growing construction and industrial sectors. According to industry experts, blocks & shells can be used on both the horizontal, slanted, or vertical surfaces but foam glass gravels can be used only on horizontal surfaces. In addition, blocks & shells find application in storage tank bases, roof insulation, wall insulation, foundation slabs, pipelines, and pipe joints, whereas foam glass gravels are used in backfills, foundation, and landscaping. Thus, all these factors drive the demand for blocks & shells.
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The global cellular glass market size is projected to reach USD 618 million by 2025 from the estimated USD 520 million in 2020, at a CAGR of 3.5% between 2020 and 2025. High-quality insulation for industrial purposes and protection against fire and long life are the driving factors for the growth of the cellular glass industry. The fragility of cellular glass, along with its susceptibility to vibration-induced damage and the lack of marketing, hamper the growth of the cellular glass market. However, environmental regulations and new application areas are projected to boost the demand for cellular glass in the coming years. However, the high cost of cellular glass and lack of awareness on the benefits of cellular glass is the challenging factors in the market.
The growth of the cellular glass market has been influenced primarily by growth in construction and industrial applications. The market is fragmented with the dominance of players, such as Owens Corning (US). Other major players in the market include Zhejiang Zhenshen Thermal Technology Co., Ltd (China), Zhejiang Dehe Insulation Technology Co., Ltd. (China), Uusioaines Oy (Finland), Misapor AG (Switzerland), POLYDROS, S.A. (Spain), REFAGLASS s.r.o. (Czech Republic), Steinbach Schaumglas GmbH & Co. KG (Germany), Earthstone International LLC (US), GEOCELL Schaumglas GmbH (Germany), STES-Vladimir (Russia), German Geo Construction GmbH (Germany), Benarx (Norway), GLAVEL, INC. (US), Liaver GmbH & Co. KG (Germany), Jahan Ayegh Pars Company (Iran), and Anhui Huichang New Material Co., Ltd. (China), among others.
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Owens Corning is one of the largest manufacturers of cellular glass for thermal insulation. It almost has a monopoly on the cellular glass market. Owens Corning is mainly into the making of blocks and shells. It develops a solution that saves energy and improves comfort in commercial and residential buildings. In the insulation segment, it is capitalizing on the US residential recovery and global commercial & industrial market growth. The company focusses on acquisition to remain competitive in the market. It acquired the company, Pittsburgh Corning, in July 2017 that supplies cellular glass under the name FOAMGLAS. The company aims to maintain its strong position in the market by using special raw materials for making the cellular glass.
Misapor AG (Switzerland), German Geo Construction GmbH (Germany), Steinbach Schaumglas GmbH & Co. KG (Germany), and GEOCELL Schaumglas GmbH (Germany) are few of the largest manufacturers for foam glass gravels. Most of the companies are producing foam glass gravels and are majorly present in Europe. These foam glass gravels are mostly made by 100% recycling glass, which makes it cheaper than the blocks & shells.
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