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The cellular glass market size is estimated to grow at a CAGR of 4.05% between 2023 and 2028. The market size is forecast to increase by USD 129.7 million. The growth of the market depends on several factors, such as the increased emphasis on energy efficiency and sustainability, the rapid urbanization and infrastructure development, and the increasing renewable energy projects. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario. The report offers extensive research analysis on the cellular glass market, with a categorization based on Type, including closed glass and open glass. It further segments the market by Product Type, encompassing block and shell and foam glass gravel. Additionally, the report provides geographical segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value USD 357.92 million for all the mentioned segments.
Cellular Glass Market Forecast 2024-2028
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The main advantage of energy-efficient buildings is that they consume less energy for heating and cooling, minimizing greenhouse gas emissions and lowering operational costs. In addition, cellular glass is used as an insulation material in walls, roofs, and floors to enhance the energy efficiency of buildings.
Moreover, its low thermal conductivity and moisture resistance contribute to reduced heat loss or gain, resulting in lower energy consumption for temperature control. In addition, sustainable construction practices focus on reducing the environmental impact of buildings and infrastructure. Furthermore, cellular glass aligns with sustainability goals as it is made from recycled glass and can be recycled at the end of its life. Hence, such factors are driving the market growth during the forecast period.
Technological advancements have resulted in the development of cellular glass with improved insulation properties. In addition, these innovations comprise modifications to the cell structure, reducing thermal conductivity, and improving energy efficiency in buildings and industrial applications. In addition, advanced production methods allow for the customization of cellular glass products to meet specific performance requirements, such as varying insulation needs or resistance to particular environmental factors.
Moreover, new production methods and formulations have improved the durability and longevity of cellular glass products, making them suitable for long-term use in challenging conditions, including industrial and corrosive environments. In addition, technological advancements have allowed for more sustainable and eco-friendly manufacturing processes. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
The lack of standardized testing methods and quality requirements can result in variations in the quality of cellular glass products from different manufacturers. In addition, this variability may make it difficult for consumers and professionals to assess and compare products effectively. Furthermore, without clear product standards, there can be inconsistencies in the performance characteristics of cellular glass insulation, such as thermal conductivity, compressive strength, and moisture resistance.
Moreover, this may result in unpredictable outcomes in terms of energy efficiency and insulation effectiveness. In addition, in construction and industrial projects, where multiple materials and components are integrated, the absence of standardized cellular glass products can result in compatibility issues. Furthermore, this can lead to difficulties during installation and may compromise the overall performance of the system. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The closed glass segment is estimated to witness significant growth during the forecast period. There is an increasing adoption of closed-cellular glass segments to insulate pipes in industrial settings. In addition, it offers excellent thermal insulation, helping to prevent heat loss or gain in the pipes. Furthermore, the closed-cell structure ensures that the material is impermeable to moisture and resistant to corrosion, making it suitable for applications where pipes may come into contact with water or chemicals.
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The closed glass segment was the largest segment and was valued at USD 357.92 million in 2018. Moreover, this segment is used to insulate tanks and vessels that store hot or cold substances. In addition, it maintains the temperature of the stored material and protects the tank from temperature-related stress. Furthermore, closed-cellular glass is sometimes used as a roof insulation material, especially in flat or low-slope roofing systems. In addition, it offers excellent thermal insulation and is resistant to moisture, which is crucial for roofing applications. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
Based on product type, the segment is classified into block and shell and foam glass gravel. Block and shell segment is commonly used to insulate pipes and equipment in industrial settings. In addition, its rigid and dense structure provides excellent thermal insulation and resistance to moisture. Moreover, it helps maintain the temperature of the fluid within the pipes and protects them from corrosion. Furthermore, block cellular glass is suitable for underground applications, including insulating foundations and buried utility lines. In addition, its impermeability to moisture makes it an ideal choice for preventing the ingress of groundwater and maintaining the structural integrity of foundations. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 36% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
Another region offering significant growth opportunities to companies is Europe. One of the main factors contributing to the market growth in Europe is the e adoption of green building practices and sustainable construction has led to increased demand for eco-friendly insulation materials. In addition, Europe has been at the forefront of renewable energy initiatives, and cellular glass insulation is essential in solar panel installations and wind turbine construction. Moreover, several European countries, such as Germany and France, have cold climates, and cellular glass is particularly valued for its effectiveness in insulating structures in extreme weather conditions. Furthermore, it is used in applications such as roofing, walls, and foundations to prevent heat loss and reduce energy consumption. Hence, such factors are driving the market growth in Europe during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global cellular glass market witnessed a significant slowdown due to the disruptions in construction and industrial activities in Europe. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of construction and industrial activities. Such factors are expected to drive the market during the forecast period
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Beerenberg AS: The company offers cellular glass such as Cellular glass XP which provides fire, thermal and acoustic insulation for pipelines.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Dehe Technology Group Co., LTD, Energocell, Excelsior Ceramic Industries, FOAMit, GLAPOR Schaumglasdammstoffe, Huaneng Zhongtian Energy Conservation Technology Group Co., Ltd. , IBSL Group, INSULTHERM, Misapor AG, MOWCO INDUSTRY LTD, Owens Corning, POLYDROS S.A., Refaglass s.r.o., SCHLUSSELBAUER TECHNOLOGY GMBH and CO KG, Shanghai Metal Corp., Sun Refractories , Wedge Industries Ltd, ZHEJIANG ZHENSHEN INSULATION TECHNOLOGY CORP.LTD, and Tianjin Huali Thermal Insulation Building Material Co., Ltd
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The cellular glass market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Cellular Glass Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.05% |
Market Growth 2024-2028 |
USD 129.7 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.05 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 36% |
Key countries |
US, China, UK, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Beerenberg AS, Dehe Technology Group Co., LTD, Energocell, Excelsior Ceramic Industries, FOAMit, GLAPOR Schaumglasdammstoffe, Huaneng Zhongtian Energy Conservation Technology Group Co., Ltd. , IBSL Group, INSULTHERM, Misapor AG, MOWCO INDUSTRY LTD, Owens Corning, POLYDROS S.A., Refaglass s.r.o., SCHLUSSELBAUER TECHNOLOGY GMBH and CO KG, Shanghai Metal Corp., Sun Refractories , Wedge Industries Ltd, ZHEJIANG ZHENSHEN INSULATION TECHNOLOGY CORP.LTD, and Tianjin Huali Thermal Insulation Building Material Co., Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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