The Foam Glass Market is Estimated at 1,503 Kilotons in 2019 and is Projected to Reach 1,964 Kilotons by 2024, at a CAGR of 5.5% Between 2019 and 2024.
Superior fire-proof and insulation properties of foam glass are expected to drive the global foam glass market during the forecast period
Foam glass exhibits good fire resistance, water resistance, corrosion resistance, and is lightweight and biocompatible. These properties make it a preferred material in end-use industries such as industrial, residential and commercial construction, consumer abrasive, pharmaceutical, packaging, and shipbuilding. Increasing demand from these end-use industries is expected to drive the market during the forecast period.
Industrial end-use is expected to register the highest CAGR in the global foam glass market during the forecast period
The industrial end-use segment is projected to witness the highest growth in the foam glass market. The industrial use of foam glass includes as a material for fire-proofing petrochemical tanks, insulating hot and cold tanks, insulating cryogenic tanks, and piping insulation of chemical processing systems. It is fire-resistant, water-resistant, and possesses high load-bearing capability. Also, it is corrosion-resistant. It makes it suitable for insulating cryogenic systems of LNG and LPG pipelines. The market for foam glass in the industrial segment is in the nascent stage and is expected to grow in the coming years.
The building & industrial insulation application is expected to drive the foam glass market
Among the foam glass applications, building & industrial insulation is projected to grow at the fastest during the forecast period. Foam glass serves as an excellent insulating material for both commercial and non-commercial buildings. It provides additional safety from fire; this makes it suitable for use in industries, especially in petrochemical factories that are susceptible to fire.
Europe is projected to record the highest growth rate during the forecast period
Europe accounted for the largest share in the foam glass market, and this trend is expected to continue during the forecast period. In Europe, Germany, Norway, and Sweden are estimated to be the key players in the region. Growing demand for environment-friendly insulating materials in various end-use industries are driving the market in the region. Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments and information gathered through secondary research.
The leading foam glass manufacturers are Owens Corning (US), Zhejiang Dehe Insulation Technology Co., Ltd. (China), Zhejiang Zhenshen Insulation Technology Corp. (China), UUSIOAINES OY (Finland), Glapor (Germany), MISAPOR (Switzerland), Polydros S.A.(Spain), Refaglass (Czech Republic), Earthstone International (US), and Anhui Huichang New Material Co., Ltd. (China).
Key Topics Covered
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Market Scope 1.4 Currency 1.5 Unit Considered 1.6 Limitations 1.7 Stakeholders
2 Research Methodology 2.1 Research Data 2.2 Data Triangulation 2.3 Research Assumptions
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in the Foam Glass Market 4.2 Foam Glass Market, By Type 4.3 Foam Glass Market, By Country
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Highest Form of Insulation for Industrial Purposes 5.2.1.2 Protection Against Fire and Longer Life 5.2.2 Restraints 5.2.2.1 Fragile and Susceptible to Vibration Induced Damage 5.2.3 Opportunities 5.2.3.1 Environmental Regulations Driving the Growth of Foam Glass 5.2.3.2 New Application Areas Providing Growth Opportunities 5.2.4 Challenges 5.2.4.1 High Cost of Foam Glass 5.2.4.2 Lack of Awareness 5.3 Porter's Five Forces 5.3.1 Threat of New Entrants(Moderate) 5.3.2 Threat of Substitute (High) 5.3.3 Bargaining Power of Supplier (Low) 5.3.4 Bargaining Power of Buyer (Moderate) 5.3.5 Competitive Rivalry (Moderate)
6 Foam Glass Market, By Type 6.1 Introduction 6.2 Open Cell 6.2.1 Use of Foam Glass In Dynamic Insulation Applications Is Driving the Consumption of the Open Cell Type 6.3 Closed Cell 6.3.1 High R-Value of Closed Cell Foam Glass Makes It the Dominant Insulation Type
7 Foam Glass Market, By Process 7.1 Introduction 7.2 Physical Process 7.2.1 Limited Availability of CRTS Is Affecting The Growth of the Segment 7.3 By Chemical Process 7.3.1 Chemical Foaming is the Dominant Process
8 Foam Glass Market, By Application 8.1 Introduction 8.2 Building and Industrial Insulation 8.2.1 Excellent Insulation Properties Make Foam Glass an Ideal Insulation Material in Building and Industrial Application 8.3 Chemical Processing System 8.3.1 Good Chemical Resistance Makes Foam Glass A Preferred Insulation Material in the Segment 8.4 Consumer Abrasive 8.4.1 Non-Toxic Foam Glass Finds Use as Abrasives 8.5 Others
9 Foam Glass Market, By End-Use Industry 9.1 Introduction 9.2 Building & Construction 9.2.1 Residential and Commercial Construction 9.2.1.1 Excellent Insulation Properties Make Foam Glass A Suitable Material for Residential and Commercial Construction 9.2.2 Civil Construction 9.2.2.1 Anti-Corrosion Properties of Foam Glass is Driving the Usage in Civil Construction 9.3 Industrial 9.3.1 Europe to Lead the Foam Glass Market in the Industrial Segment 9.4 Others
10 Foam Glass Market, By Region 10.1 Introduction 10.2 North America 10.2.1 US 10.2.1.1 Newer Applications for Foam Glass Attracting New Entrants in the Foam Glass Market in the Us 10.2.2 Canada 10.2.2.1 Government Initiatives to Drive the Demand for Foam Glass in Canada 10.2.3 Mexico 10.2.3.1 Industrial Segment to Lead the Foam Glass Market in Mexico 10.3 APAC 10.3.1 China 10.3.1.1 Government Policy to Drive the Consumption of Foam Glass in China 10.3.2 Japan 10.3.2.1 Need for Energy Efficiency in Building and Industrial Application is Driving the Demand for Foam Glass in the Country 10.3.3 South Korea 10.3.3.1 Industrial End-Use Industry Segment to Lead the Foam Glass Market in South Korea 10.3.4 Rest of APAC 10.4 Europe 10.4.1 Germany 10.4.1.1 Renovation of Existing Buildings Will Drive the Market in Germany 10.4.2 Sweden 10.4.2.1 Growing Consumption of Natural Gas Will Drive the Foam Glass Market in Sweden 10.4.3 Italy 10.4.2.1 Growing Consumption of Natural Gas Will Drive the Foam Glass Market in Sweden 10.4.4 Norway 10.4.4.1 Government Policies Regarding Energy-Efficient Residential Buildings to Drive the Foam Glass Market During the Forecast Period 10.4.5 Rest of the Europe 10.5 Rest of World 10.5.1 Middle East & Africa 10.5.1.1 Increasing Awareness for Glass Recycling in the Region to Drive the Foam Glass Market During the Forecast Period 10.5.2 South America 10.5.2.1 Need For Energy-Efficient Acoustic Insulation Will Drive the Foam Glass Market in the Region