Market Forecast
The GLOBAL FOAM GLASS MARKET is expected to grow at a CAGR of 5.8% during the forecast period and cross USD 2.5 Billion by 2025.
Foam glass insulation is a rigid insulating material composed of sealed glass cells. This inorganic, all-glass, closed-cell structure provides an unmatched combination of physical properties ideal for the building application. Glass insulation products supports commercial and residential architecture and building projects which is driving the product demand.
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Segmentation
By Type
- Foam Glass Market is divided into open-cell foam glass and closed-cell foam glass. They are classified based on whether they have closed pores or open pores, with a gradual gradation from almost completely closed pores to almost completely open pores. Their fragility increases with the increase in open pores, but it also enhances its acoustic dampening abilities.
- Closed-cell foam glass is the larger Foam Glass Market segment and has excellent heat insulation properties. It is used in manufacturing industries, in transportation (especially of oil), in chemical industries due to their high corrosion resistance and in buildings due to their heat insulation properties. Open-cell foam glass is used when sound dampening is required, especially in industries that use heavy machinery that generate noise.
By End-Use
- The industrial use of foam glass is the fastest-growing segment, largely due to the developing manufacturing industries in the Asia-Pacific region which are driving the market for it.
- Offering unparalleled heat and sound insulation and resistance to chemical corrosion, foam glass finds utility in industries which use heavy machinery, require regulated heating, utilize corrosive chemicals and use cryogenic technology. Foam glass also finds wide utility in buildings and infrastructure where their use decreases heat dissipation by 25% and provides excellent noise cancellation.
By Process
- The chemical process of manufacturing foam glass is the predominant market within this segment. Chemically produced foam glass is easier to manufacture though it has lower porosity than the foam glass manufactured by a physical process. Chemically manufactured foam glass is made in various degrees of thickness with variable applicability.
- The physical manufacture of foam glass ensures a very high degree of porosity making it an excellent sound dampener but also increasing its fragility. It has specific applicability in sound dampening. Its manufacture depends on the availability of cathode ray tubes.
By Application
- The use of foam glass in buildings and industries is increasing due to its excellent heat and sound insulation properties. Moreover, foam glass is manufactured in a variety of widths and densities ensuring enhancement of their desired properties and proliferating the specificity of their applicability. Foam glass is also remarkably resistant to chemical corrosion and this finds utility in the transportation of hazardous chemicals as well as in chemical manufacturing and storing plants.
By Region
- North America: Foam Glass Market growth is driven by the high production of oil in the region. Increasing the application of foam glass insulation in oil refineries
- Europe: A well-established market. Increase in processed food manufacturing industries has increased in the region which requires foam glass for supporting machine and equipment.
- Asia-Pacific: The largest and fastest-growing regional Foam Glass Market. Increase in foam glass insulation in residential building is expected to drive demand
- Latin America: The region is the largest producers of computers, automotive and oil. High insulation demand from manufacturing industry propelling regional growth
- Middle East & Africa: High oil and gas exploration activities in the region requires a large number of oil & gas refineries for processing and treating oil which is positively influencing the foam glass insulation demand.
Pricing Analysis
The foam glass insulation products are comparatively higher than other insulation production owing its manufacturing cost. The foam glass manufacturing machines are expensive which increases the price of foam glass. Moreover, the cost of installation of foam glass is also costly owing to the fragile nature of foam glass.
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