The global Foam Glass Market is estimated to be valued at US$ 1.22 Bn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Foam glass is a highly insulating synthetic silica-based material formed by injecting a gas, usually air, into molten glass. It has the appearance of an opaque or translucent rigid foam and is an ultra-lightweight, high-performance glass foam insulation material. Foam glass possesses water repellent, non-toxic, non-combustible, corrosion resistant, and high-temperature resistance properties. It is used extensively in construction, industrial, and other applications owing to its low thermal conductivity which offers outstanding insulation performance. Some key advantages of foam glass over traditional insulation materials include moisture resistance, durability, light weight, fireproof nature, and eco-friendly composition.
Market key trends:
One of the key trends in the foam glass market is rising construction activities across developed as well as developing regions. According to the International Trade Administration, the global construction industry is projected to grow an estimated 85% by 2030. Foam glass finds widespread use in building & construction applications as wall insulation, pipe insulation, cavity wall insulation, roof insulation, and exterior insulation finishing systems. Growing investments in infrastructure development and urbanization are fueling the demand for high-performance insulation materials like foam glass. Furthermore, stringent government regulations regarding energy efficiency are promoting the adoption of advanced insulation solutions. Foam glass also helps increase the lifespan of buildings by protecting building structure from heat, noise, and moisture. The material is increasingly replacing conventional insulation materials owing to its superior insulating properties.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established brands lower the threat of new entrants in the foam glass market. However, stringent quality standards and regulations pose barriers.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitute products. However, customized solutions increase switching costs.
Bargaining power of suppliers: A few major manufacturers control the global supply of raw materials, giving them significant bargaining power over buyers.
Threat of new substitutes: Substitute materials like polystyrene and mineral wool pose threats. However, foam glass has superior properties lowering the threat of substitutes.
Competitive rivalry: The global foam glass market is moderately competitive due to the presence of large players. Price wars are common, intensifying competitive rivalry.
Key Takeaways
The Global Foam Glass Market Demand is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing demand from the construction industry. Foam glass finds extensive use as an insulation material in walls and roofs of residential and commercial buildings.
Regionally, Asia Pacific dominates the foam glass market and is expected to grow at the fastest rate during the forecast period. Increasing construction activities in China, India and other developing countries are driving the regional market. Moreover, growth in end-use industries such as automotive and industrial are supplementing market growth in the region.
Key players operating in the foam glass market are Pittsburgh Corning, Glapor, Owens Corning, Polydros S.A., Misapor AG, Earthstone International, Refaglass, Zhejiang Zhenshen Insulation Technology Corp. Major players are investing in R&D to develop innovative products with enhanced properties. Partnerships and mergers & acquisitions are other strategies adopted by manufacturers to strengthen their foothold in the market.
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https://www.marketwebjournal.com/foam-glass-market-trends-size-and-share-analysis/
It is impervious to moisture, most fumes, and vermin.
To calculate the market size, the report considers the foam glass sales volume and revenue.
By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: regional markets and application.
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019 to 2024.
)Europe (Germany, UK, France, Italy, Russia, Spain, etc.
The companies referred in the market research report include Pittsburgh Corning, LLC., Geocell Schaumglas GmbH, GLAPOR Schaumglas produkte, RUSNANO Group, Misapor AG, Stikloporas JSC, Uusioaines Ltd. (Partnera Ltd.), Veriso GmbH, REFAGLASS s.r.o., Earthstone International, Inc., Dennert Poraver GmbH, Hebei Lanlian Foam Glass Co., Ltd., Zhejiang Zhenshen Thermal Insulation Technology Co., Ltd. (ZES), Zhejiang Dehe Insulation Technology Corp., Ltd., Zhejiang Yahong Industrial Co., Ltd., Gansu Pengfei Insulation Materials Co., Ltd., Langfang jiahao Insulation material Co., Ltd., Hebei ZhongTai Tiancheng Energy Technology Co. Ltd., Anhui Huichang New Material Co., Ltd., Shanghai Yongli Energy-Saving Wall-material Co., Ltd., (** REQUEST FREE SAMPLE TO GET A COMPLETE LIST OF COMPANIES).
Global Cold Insulation Market Information by Type (Fiber Glass, Polyurethane foam, Polystyrene foam, Phenolic foam), by Application (Oil & Gas, Chemicals, Refrigeration, HVAC, and Others)– Forecast 2016–2021
