Cellular Glass Market to Witness Huge Growth from 2020 to 2027

As per the report Allied Market Research, the global cellular glass industry was estimated at $501.0 million in 2019, and is projected to reach $669.0 million by 2027, growing at a CAGR of 4.7% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, key investment pockets, competitive landscape, and regional scenario.

Rise in utilization in construction and building applications and growth in usage for load-bearing applications drive the growth of the global cellular glass market. On the other hand, fragility and susceptibility to induced damage because of vibrations and high cost of cellular glass compared to other insulation materials restrain the market growth. However, rise in use of cellular glass in applications such as building facades, pools, roof insulation, and floating blocks for submarine nets and ethylene plant pipes is anticipated to usher an array of opportunities for the market players in the future.

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Factors Driving Market Growth:
The global cellular glass market is propelled by increasing utilization in construction and building applications, along with its growing usage for load-bearing applications. However, challenges such as fragility and susceptibility to induced damage due to vibrations, coupled with the high cost compared to other insulation materials, hinder market expansion. Nonetheless, rising applications in building facades, pools, and roof insulation offer promising opportunities for market players in the foreseeable future.

The cellular glass market is segmented on the basis of product type, type, application, and region. Based on product type, the market is further divided into block & shell and foam glass gravel. The blocks & shells segment held major market share in 2019, with nearly three-fourths of the global market. On the other hand, the foam glass gravel segment is projected to register the highest CAGR of 5.4% during the forecast period.

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Based on application, the market is segmented into construction, industrial, and others. The construction segment held the lion's share in 2019, contributing to more than two-fifths of the global cellular glass market. On the other hand, the industrial segment is estimated to portray the highest CAGR of 5.1% during the forecast period.

Based on region, the report is studied across numerous regions including Asia-Pacific, Europe, North America, and LAMEA. The market across Asia-Pacific held the highest market share in 2019, with nearly half of the market. However, the Europe region is estimated to manifest the highest CAGR of 5.3% during the forecast period.

Major market players profiled in the report include Amity Insulation Group Inc., Jahan Ayegh Pars Co., Benarx, Langfang Chaochem Thermal Insulation Materials Co. Ltd., Pinosklo, Owens Corning, Polydros Sociedad Anonima (S.A.), Zhejiang Dehe Insulation Technology Co., Ltd., SZECO Insulation Technology Co., Ltd., and Zhejiang Zhenshen Insulation Technology Corp., Ltd.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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