CHICAGO, April 7, 2020 /PRNewswire/ -- According to the new market research report "Cellular Glass Market by Product Type (Blocks And Shells, And Foam Glass Gravels), Application (Construction, Industrial, and Consumer Abrasive), and Region (North America, Europe, Asia-Pacific, Rest of World) - Global Forecast to 2025", published by MarketsandMarkets™, the global Cellular Glass Market size is projected to reach USD 618 million by 2025 from the estimated USD 520 million in 2020 at a CAGR of 3.5% between 2020 and 2025.
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High-quality insulation for industrial purposes and protection against fire and long life are the driving factors for the growth of the cellular glass market. Also, environmental regulations and new application areas are projected to boost the demand for cellular glass in the coming years.
Blocks & shells led the product type market of the cellular glass market in 2019.
The blocks & shells segment dominated the cellular glass market in 2019 on account of the growing construction and industrial sectors. According to industry experts, blocks & shells can be used on both the horizontal, slanted, or vertical surfaces but foam glass gravels can be used only on horizontal surfaces. In addition, blocks & shells find application in storage tank bases, roof insulation, wall insulation, foundation slabs, pipelines, and pipe joints, whereas foam glass gravels are used in backfills, foundation, and landscaping. Thus, all these factors drive the demand for blocks & shells.
The construction application led the cellular glass market in 2019.
The construction application accounted for the largest share of the market in 2019. This was because of the increasing use of thermal insulation material with high load-bearing capacity in the construction of buildings and other structures. In addition, there are stringent building codes in regions such as Europe and North America regarding fire resistant and ecological insulation products, and this drives the demand for cellular glass. In addition, the frost-free nature of cellular glass is another factor driving its demand in cold countries.
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Europe led the cellular glass market in 2019.
Europe led the cellular glass market in 2019. The presence of major manufacturers of cellular glass in Europe accompanied by the awareness of the product is the factor driving the demand for cellular glass in the region. In addition, as the region is cold, and there exist stringent regulations regarding the use of sustainable and ecological friendly insulation material, the market for cellular glass is increasing.
Moreover, growing demand for cellular glass in countries such as Norway, Sweden, and Denmark, in construction application due to its excellent load-bearing capacity and frost-free nature, is another factor driving the demand for cellular glass. Furthermore, the presence of oil-producing giants in countries such as Russia is another factor driving the demand for cellular glass in the region.
Owens Corning (US), Misapor AG (Switzerland), Zhejiang Zhenshen Thermal Technology Co., Ltd (China), Zhejiang Dehe Insulation Technology Co., Ltd. (China), Jahan Ayegh Pars Company (Iran), POLYDROS, S.A. (Spain), REFAGLASS s.r.o. (Czech Republic), Uusioaines Oy (Finland), Steinbach Schaumglas GmbH & Co. KG (Germany), Earthstone International LLC (US), GEOCELL Schaumglas GmbH (Germany), STES-Vladimir (Russia), German Geo Construction GmbH (Germany), Benarx (Norway), Anhui Huichang New Material Co., Ltd.(China), Liaver GmbH & Co. KG (Germany) and GLAVEL, Inc. (US) are the leading manufacturers of cellular glass. These companies are focusing on increasing their market reach, and strengthen their market position.
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