Cellular Glass Market Growth & Industry Forecast Report, 2020-2027Growth opportunities in the cellular glass market look promising over the next six years. This is mainly due to the growing prevalence for the protection against fire, low transportation costs and the increasing demand for the highest form of insulation for industrial purposes.
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Cellular Glass Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The surging demand for the highest insulation form for industrial purposes and the rising need for protection against fire are the key drivers stimulating the global cellular glass market's growth. Also, features like better insulation properties, non-flammable, non-toxic, water & steam resistance, lightweight, easy to manage, corrosion-resistant, and low cost of transportation will contribute to the market growth. The Governments across various developing countries are taking various measures to fuel cellular gas demand due to the low carbon footprint. Moreover, the mineral formulation possessed by the cellular gas results in making it resistant to chemical reactions, worms, and parasites and unbudgeable. It also aids in proofing the petroleum tanks against fire, thereby accelerating the market growth.
The widespread outbreak of the COVID-19 has led to a drastic slowdown in industrial operations because of the governments' lockdown practices. Moreover, the halt in the construction industry has negatively affected the supply and demand of cellular glass. Cellular gas production has been ceased due to the pandemic, thereby hampering the growth of the global cellular glass market.
Product Segment Drivers
Based on the product type, blocks & shells are predicted to expand at a faster CAGR over the forecast period. This is due to the rising industrial and construction sectors and their use in pipelines, roof insulation, and storage tank insulation. Also, blocks can take the desired form to install them accordingly, which further propels the market growth.
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Based on the regional coverage, Europe is expected to witness a faster CAGR during the forecast period. This is due to the wide range of ongoing and upcoming construction projects, which are expanding cellular glass use. For example, the ongoing project of Fehmarn Belt Fixed Link to build an 18km tunnel between Denmark and Germany. Moreover, the escalating use of eco-friendly and sustainable insulation materials and the prevalence of a huge number of cellular glass manufacturers in the European region, including Uusioaines Oy (Finland), Misapor AG (Switzerland), POLYDROS, REFAGLASS s.r.o. (Czech Republic), S.A. (Spain) plays an important role in strengthening the market growth.
Cellular Glass Market ’S Leading Manufacturers:
• GEOCELL Schaumglas GmbH
• Anhui Huichang New Material Co., Ltd
• POLYDROS, S.A.
• Misapor AG
• Uusioaines Oy
• REFAGLASS S.R.O.
• Zhejiang Dehe Insulation Technology Co., Ltd.
• Owens Corning
Cellular Glass Market Segmentation:
Segmentation by Product Type:
• Blocks & Shells
• Foam Glass Gravels
Segmentation by Application:
Segmentation by Region:
• North America
o United States of America
• Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
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About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
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