Foam Glass Market is expected to reach USD 2.53 Billion in 2028

The global foam glass market size is expected to reach USD 2.53 Billion in 2028 and register a revenue CAGR of 5.1% during the forecast period. Increasing construction activities across the globe, expansion of the chemical and gas industries, rising investments in effective materials to improve quality, and replacement of heavyweight materials with lightweight materials are factors expected to drive market revenue growth during the forecast period.

Foam glass is a stiff and lightweight material that provides long-lasting insulation. Foam glass is made up of sealed glass cells. It is incombustible, strong, and provides long-term thermal insulation. It is available in various shapes and sizes to meet different types of insulation requirements in construction projects. Foam glass can be made from recycled glass and in recent years, producers have begun to use around 98% recycled glass in the production of foam glass. Foam glass does not emit hazardous gas during the manufacturing process because of its porous structure. Additionally, minimal water absorption qualities of foam glass enables it to retain insulating properties even when in contact with any liquid. Moreover, it is unaffected by insects and plastic worms. Foam glass market revenue growth is expected to be driven by rising demand for high-quality insulation in the construction process. Foam glass is also widely used in machines to increase efficiency and productivity, and for its various qualities including fire resistance, water resistance, non-toxicity, and insulating capabilities.

The COVID-19 pandemic has had a significant impact on various industrial activities. Governments worldwide have effectively implemented lockdown procedures by shutting down industries to stop the virus from spreading. Construction and industrial activities have also ceased, which has affected both supply and demand of foam glass. In addition, because of the pandemic, foam glass production has been impeded resulting in a huge supply-demand gap.

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Competitive Landscape:

Competitive landscape of the global foam glass market is moderately fragmented with a number of key players operating on global and regional levels. Key players are engaged in product development and strategic alliances to expand their respective product portfolio and gain a robust footprint in the global market. Some major players profiled in the market report are Owens Corning, Zhejiang Dehe Insulation Technology Co., Ltd., Earthstone international, POLYDROS,S.A., Liaver GmbH & Co. KG, Stikloporas, Anglitemp Ltd, Sun Refractories, Refaglass, and ICM Glass Kaluga LLC.

Some recent developments are as follows:

• In June 2017, Pittsburgh Corning, which is a foam glass company, was acquired by Owens Corning. As a result of this, Owens Corning was able to increase its product portfolio. Pittsburgh Corning is a market leader in foam glass and is a subsidiary of Owens Corning with its presence in 17 countries across the world.
• In June 2019, Uusioaines Oy planned to acquire Hasopor AB, which is a foam glass company situated in Switzerland. Uusioaines Oy will become Europe\'s leading foam glass manufacturer as a result of this acquisition.

Driver: Growing Demand for Better Quality Insulation Materials in Construction Projects

Increasing demand for better quality insulation materials in construction projects is a key factor driving market growth. Foam glass wall insulation is a novel type of insulation material that combines cost-effectiveness, safety, environmental protection, and comfort. It not only maintains the long-term use of standard glass but also adds new functionalities to the mix. Foam glass is commonly used for wall insulation, since it can absorb not only heat but also a significant amount of noise.

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Restraint: Huge Cost of Installation and Lack of Awareness Among Consumers

High installation cost is a key factor that can restrain market revenue growth during the forecast period. As a result, alternatives are being used by both residential and commercial sectors. Foam glass is extremely fragile and thus it necessitates extra care during the installation process. The global market is expected to be hampered in the near future by lack of consumer awareness regarding foam glass and its high price.

Some Key Takeaways:

Type Outlook:

Based on type, the global foam glass market has been segmented into open cell, closed cell, black (gray) foam glass, white foam glass, and others. Closed cell segment accounted for largest revenue share in the global foam glass market in 2020. Closed cell foam glass has fire resistance, high-temperature resistance, and high load-bearing strength, as well as moisture resistance, pest resistance, and corrosion resistance. This type of foam glass is used to insulate the inner walls of commercial and residential buildings, as well as soundproof meeting rooms, floors, pipes, roof, tank walls, bases, roadbeds, embankments, backfills, and runway arrestor systems.

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