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2021

Cellular Glass Market

Cellular Glass Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type, Type and Application : Global Opportunity Analysis and Industry Forecast, 2020-2027

MC : Advanced Materials

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Author's: Chidanand Bilagi| Krunal Yeware | Eswara Prasad
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Cellular Glass Market Outlook - 2027

The global cellular glass market was valued at $501.0 million in 2019, and is projected to reach $669.0 million by 2027, growing at a CAGR of 4.7% from 2020 to 2027.

Cellular glass, also known as foam glass, is a lightweight, stiff, and robust material composed of sealed glass cells that is widely used as thermal insulation material. It exhibits physical properties such as enhanced compressive strength, resistance to moisture, and high thermal & dimensional stability. Cellular glass is manufactured through reaction between glass and carbon at elevated temperature. Owing to its permeability, it offers resistance against soil humidity. In addition, it can be used in other applications such as insulation of cryogenic systems and insulation of hot oil storage tanks. 

Cellular-glass-Market-2020-2027

Cellular glass market growth factors are its utilization in insulation of cryogenic to superheated industrial applications. Corrosion protection, resistance to pest & compression, and incombustible properties of cellular glass make it ideal for use as an insulating material in high load bearing applications. For instance, cellular glass is preferred for insulating LPG, LNG, LOX, ethylene, ammonia, and liquid nitrogen tanks, owing to its compressive strength. In addition, surge in need of industrial fire safety is another major growth factor that drives the growth of the global cellular glass market. Cellular glass insulation is noncombustible and nonabsorbent, making it a suitable material for insulation of fire wall pipe penetrations. However, utilization of polyisocyanurate (PIR) as an insulation material in the oil & gas industry is a major restarting factor in the global cellular glass market. For instance, PIR has less outer circumference than cellular glass by 10–20%. Owing to its lesser circumference, PIR does not require additional accessory products such as vapor retarders and joint sealants for insulating LNG pipes. The global foam glass market is predicted to offer new opportunity in the upcoming period, owing to its environment-friendly manufacturing process. Foam glass is manufactured using 60% recycled glass, and is free from environmental pollutants such as flame retardants and gas propellants.   

The cellular glass market analysis is done based on product type, type, application, and region. Depending on the product type, the market is classified into block & shell and foam glass gravel. By type, it is segregated into open glass and closed glass. The applications covered in the study include construction, industrial, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share in the global market, followed by North America and Europe. The major companies profiled in this report include Langfang Chaochem Thermal Insulation Materials Co. Ltd., Owens Corning, Amity Insulation Group Inc., SZECO Insulation Technology Co., Ltd., Zhejiang Zhenshen Insulation Technology Corp., Ltd., Zhejiang Dehe Insulation Technology Co., Ltd., Benarx, Jahan Ayegh Pars Co., Pinosklo, and Polydros Sociedad Anonima (S.A.). 

Cellular glass market, by region

The Europe cellular glass market size is projected to grow at the highest CAGR of 5.3% during the forecast period and accounting for 25.0% of cellular glass market share. This is attributed to rise in use of loose fill cellular glass in water capillary tubes as an insulation barrier and underground drainage construction. In addition, set up of various test plans by European government to enhance the physical properties of cellular glass.

Cellular Glass Market
By Region
2027
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.

Cellular glass market, by product type

In 2019, the blocks & shell segment was the largest revenue generator, and is anticipated to grow at CAGR 4.5% during the forecast period. This is attributed to the fact that block shaped concrete cellular is a lightweight aerated concert block that is widely used in construction sector for building compound walls and loading & non-loading bearing walls. However, the foam glass gravel segment is predicted to grow with 5.4% CAGR.

Cellular Glass Market
By Product Type
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Foam glass gravel segment is projected as the most lucrative segment.

Cellular glass market, by type

In 2019, the open glass segment garnered the highest revenue, and is anticipated to grow at CAGR 5.2% in the forecast period. This is attributed to the fact that open cellular glass exhibits high porosity level, high sound absorption coefficient, and high heat insulation, and can be recycled. However, the closed glass segment is dominated the market share in 2019 by generating a revenue of $339.0 million. 

Cellular Glass Market
By Type
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Open glass is projected as the most lucrative segment.

Cellular glass market, by application

In 2019, the construction segment led the global market, and is anticipated to grow at CAGR of 4.5% during forecast period. Cellular glass market trend such as its application in construction sector such as roof insulation, exterior wall insulation, and insulation of rooftops for mission critical buildings. However, the industrial segment is anticipated to grow with XX% CAGR during the forecast period. 

Cellular Glass Market
By Application
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Industrial application is projected as the most lucrative segment.

Key benefits for stakeholders

  • The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics.
  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • It outlines the current market trends and future estimations from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
  • The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
  • The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
  • The profiles of key players and their key strategic developments are enlisted in the report.

Impact Of Covid-19 On The Global Cellular Glass Market

  • The COVID-19 pandemic has negatively affected the global economy and is subsequent shrinking the GDP in global economies, thereby changing consumer spending patterns globally.
  • Various restrictions implemented by government bodies to curb the spread of virus have triggered problems such as shortage of raw materials, dearth of skilled labor, and disruption in supply chain.
  • Construction sector is the major consumer of cellular glass product, however, it has been negatively impacted, due to the outbreak of the COVID-19 pandemic, owing to project termination, notice requirements, entitlement for time extensions, and cost escalation. 
  • Another major consumer of cellular glass is the oil & gas industry, which further has witnessed significant decline in growth rate, thereby limiting the demand for cellular glass.  
  • Major oil consuming nations such as the U.S., China, and India are majorly affected with coronavirus. In addition, aviation is the major consumer of oil; however, implementation of travel restrictions has significantly reduced the consumption and production of oil. 

Cellular Glass Market Report Highlights

Aspects Details
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By Product Type
  • Block & Shell
  • Foam Glass Gravel
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By Type
  • Open Glass
  • Closed Glass
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By Application
  • Construction
  • Industrial
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, Italy, Spain, U.K., Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Key Market Players

Polydros Sociedad Anonima (S.A.), Amity Insulation Group Inc., Pinosklo, Zhejiang Zhenshen Insulation Technology Corp., Ltd., Owens Corning, Zhejiang Dehe Insulation Technology Co., Ltd., Jahan Ayegh Pars Co., Benarx, SZECO Insulation Technology Co., Ltd., Langfang Chaochen Thermal Insulation Materials Co. Ltd.

Analyst Review

The cellular glass is a widely utilized material in construction and industrial applications. Besides mainstream application industries, cellular glass usage in other applications such as insulation of low temperate piping, oxygen circulation pipes, ethylene plant piping, and severe fluctuating temperature range pipes is predicted to offer lucrative growth opportunities in the future. Use of cellular glass for green roof construction is another factor favorable for the growth of the global market. Consumer need for improved building quality, reliability in thermal insulation, and environment-friendly insulation products is augmenting the market growth. In addition, technological advancements for manufacturing of cellular glass from bio-waste generated by food industry is predicted to augment the demand of the global market. 

The chemical industry includes use of water pipe that runs various chemicals at cryogenic temperature range. These pipes require insulation material that offers enhanced fire resistance, physical strength, and superior load bearing capacity. Adoption of cellular glass for insulation of industrial pipes that serves cryogenic process fluids has augmented the growth of the global market. Key players in the market are developing cellular glass that is capable of withstanding thermal shock generated due to temperature fluctuations in the process pipes. In addition, owing to its permeability, it is widely preferred for insulating underground circulating pipes and all other equipment that require insulation. This is not only gaining immense attention in the market but is also emerging as a key strategy in terms of gaining additional market demand.
 

Author Name(s) : Chidanand Bilagi| Krunal Yeware | Eswara Prasad
Frequently Asked Questions?

Rising utilization of cellular glass in construction sector and load bearing application such as storage tanks, insulation of cold pipes, and LNG pipes

The cellular glass market size is projected to reach $669.0 million by 2027.

Amity Insulation Group Inc., Benarx, Jahan Ayegh Pars Co., Langfang Chaochen Thermal Insulation Materials Co. Ltd., Owens Corning, Pinosklo, Polydros Sociedad Anonima (S.A.), SZECO Insulation Technology Co. Ltd., Zhejiang Dehe Insulation Technology Co. Ltd., and Zhejiang Zhenshen Insulation Technology Corp. Ltd. are the top companies in the cellular glass market.

Construction industry is projected to increase the demand of cellular glass market

Closed glass segment is leading segment in cellular glass market

Utilization of cellular glass in building facades, pools, roof insulation, and floating blocks is the major growth factor in the global market.

Construction and industrial applications are expected to drive the demand of cellular glass market

COVID-19 will impact negatively on the global cellular glass market. This is attributed due to • The COVID-19 pandemic has negatively affected the global economy and is subsequent shrinking the GDP in global economies, thereby changing consumer spending patterns globally. • Various restrictions implemented by government bodies to curb the spread of virus have triggered problems such as shortage of raw materials, dearth of skilled labour, and disruption in supply chain. • Construction sector is the major consumer of cellular glass product, however, it has been negatively impacted, due to the outbreak of the COVID-19 pandemic, owing to project termination, notice requirements, entitlement for time extensions, and cost escalation. • Another major consumer of cellular glass is the oil & gas industry, which further has witnessed significant decline in growth rate, thereby limiting the demand for cellular glass. • Major oil consuming nations such as the U.S., China, and India are majorly affected with coronavirus. In addition, aviation is the major consumer of oil; however, implementation of travel restrictions has significantly reduced the consumption and production of oil.

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Cellular Glass Market

Global Opportunity Analysis and Industry Forecast, 2020-2027