Pune, Maharashtra -- (SBWire) -- 10/11/2022 --Foam Glass Market Report Scope & Overview:
A strong and light material that offers durable insulation is foam glass. Cells of sealed glass make up foam glass. It is sturdy, non-combustible, and offers long-term thermal insulation. It is offered in a variety of sizes and shapes to satisfy specific insulation needs in building projects. Foam glass also has little water absorption, which helps it maintain its insulating capabilities even when in contact with any liquid. Additionally, it is recommended in sectors like oil and gas and petrochemicals, which are more prone to fires than any other industry.
As per the recent market research study report by SNS Insider, the foam glass market is anticipated to reach USD 2.4 billion by 2028, with a steady CAGR of 5.6% over the forecast period of 2022–2028.
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Major Key players included in Foam Glass market are:
- Glapor
- Polydros S.A
- Owens Corning, Ltd.
- Anhui Huichang New Material Co., Ltd.
- MISAPOR, Refaglass
- Zhejiang Dehe Insulation Technology Co.
- UUSIOAINES OY
- Earthstone International
- Zhejiang Zhenshen Insulation Technology Corp.
Drivers, Restraints, Opportunities, and Challenges
Over the upcoming years, the foam glass market is anticipated to grow due to its excellent resistance to moisture, fire, severe temperatures, and corrosion. Additionally, foam glass's lightweight, premium, warm-protection, and acoustic-protection qualities are anticipated to improve its market in the upcoming years. The glass material is also recyclable and safe for the environment. During the foreseeable years, all these factors are expected to fuel market demand.
A major issue that may limit market revenue growth during the projection period is high installation costs. As a result, both the home and business sectors are using alternatives. Due to its exceptional fragility, foam glass requires special handling when being installed. In the near future, it is anticipated that the lack of consumer knowledge of foam glass and its expensive cost will hinder the global market.
Impact of the COVID-19 Pandemic
Numerous industrial activities have been significantly impacted by the COVID-19 epidemic. In order to prevent the virus from spreading, governments around the world have successfully enacted lockdown measures by closing down companies. Both the supply and demand of foam glass have been impacted by the cessation of industrial and construction operations. Additionally, the epidemic has hindered the production of foam glass, creating a massive supply-demand gap.
Foam Glass Market Segmentation Analysis 2022
The building & industrial insulation segment is anticipated to have the highest CAGR during the projected period on account of increasing industrialization and increased demand across the power & energy sector.
The industrial segment is predicted to account for the greatest market share in terms of end users. The reasons include maintaining integral temperature in chemical processing systems, ensuring safety against fire, using foam glass as the basis of cryogenic tanks, and piping insulation.
Major Segments and Sub-Segment of Foam Glass Market are Listed Below:
By Type:
- Open Cell Foam Glass
- Closed Cell Foam Glass
By Process:
- Physical
- Chemical
By End-Use Industry:
- Building & Construction
- Industrial
- Others
By Application
- Building & Industrial Insulation
- Chemical Processing Systems
- Consumer Abrasive
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Foam Glass Industry Regional Analysis
North America and Europe are at the forefront of the foam glass market owing to their rapid adoption of the most recent technologies and their use in numerous industries. With a larger market share, Europe currently dominates the worldwide market and is anticipated to continue experiencing similar growth trends over the foreseeable future. Due to its massive demand in the building industry and growing awareness campaigns in many industries on the benefits of foam glass, Asia Pacific is developing at the fastest CAGR in the worldwide market. In the upcoming years, it's anticipated that the Middle East and Africa would experience rapid expansion. There are strict laws governing carbon footprints or carbon emissions in developing nations like India and China. Additionally, foam glass's low carbon footprint is a key factor in the APAC region's foam glass market expansion.
Frequently asked questions about this research:
- What is the market size of Foam Glass industry?
- Which regions are covered in this report?
- What are the driving factors and challenges of Foam Glass Market?
- Who major key players are included in Foam Glass Market?
Table of Contents - Major key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. Global Foam Glass Market Segment, By Type
9. Global Foam Glass Market Segment, By Process
10. Global Foam Glass Market Segment, By End-Use Industry
11. Global Foam Glass Market Segment, By Application
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion
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