IMARC Group's latest report, titled "Cellular Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027", finds that the global cellular glass market reached US$ 515.0 Million in 2021. Cellular glass is an insulating material with a sponge-like appearance manufactured at high temperatures using crushed glass and carbon or limestone. It possesses physical properties such as excellent compressive strength, moisture resistance, high thermal conductivity, and dimensional stability. Compared to other insulation materials, it is chemically inert, lightweight, fiber-free, and has superior mechanical properties and a cellular structure. It is used as a barrier against soil humidity due to its impermeability. As a result, cellular glass finds extensive applications in insulating water pipes, tanks, and flat roofs covered with bitumen or other heavy materials across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Cellular Glass Market Trends:
The increasing demand for environmentally friendly, sustainable insulating materials in industrial insulation systems represents the primary factor driving the market growth. This can be attributed to its low carbon footprint and the rising environmental awareness among the masses. Moreover, cellular glass offers safety, sustainability, durability, and long-term economic benefits for industrial piping and equipment. Consequently, the rising use of cellular glass in above and below-ground steam and chilled water pipes, due to its non-corrosive and water-resistant properties, has catalyzed the market growth. Apart from this, the escalating demand for cellular glass to manufacture insulation panels for green roofs and fireproof building structures owing to its moisture-resistant and non-combustible properties is contributing to the market growth. Furthermore, the increasing use of thermal insulating materials with high load capacities in the construction of buildings has augmented product demand. Besides this, the emerging applications of cellular glass in cold storage and flotation devices, as it offers low, predictable energy costs, have propelled market growth. Other factors, including the implementation of stringent fire codes and standards by governing agencies of numerous countries, surging awareness about energy conservation in buildings, rising population, and increasing construction activities, are also anticipated to create a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 668.4 Million by 2027, growing at a CAGR of 4.5% during 2022-2027.
- On the basis of the product type, the market has been bifurcated into block and shell, and foam glass gravel.
- Based on the type, the market has been classified as open and closed glass.
- The market has been divided based on the application into construction, industrial, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and Others), and the Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Amity Insulation Group Inc., Benarx (Beerenberg Services AS), Jahan Ayegh Pars Company, Langfang Chaochem Thermal Insulation Materials Co. Ltd., Owens Corning, Pinosklo, Polydros Sociedad Anonima (S.A.), REFAGLASS TRADE s.r.o., SZECO Insulation Technology Co., Ltd., Zhejiang Dehe Insulation Technology Co. Ltd., and Zhejiang Zhenshen Insulation Technology Corp. Ltd.
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