Cellular Glass Market, by Product Type (Blocks & Shells and Foam Glass Gravels), by Type (Open Cell and Closed Cell), by Application (Construction, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2027

Construction Materials

CM2009404

Pages: 250

Sep 2020

Reports Overview

The global cellular glass market is expected to generate a revenue of $724.8 million by 2027, increasing from $481.2 million in 2019 at a healthy CAGR of 5.4%. Asia Pacific region cellular glass market is expected to grow at a healthy CAGR of 5.6% by generating a revenue of $404.3 million by 2027.

Cellular Glass Market Analysis:

Cellular glass is manufactured through reaction between carbon and glass at elevated temperature. It is cellular structure glass material that offers enhanced insulation, lightweight and durable insulation to materials. Owing to its thermal properties, it is used widely as a thermal insulation material in chemical industries. It offers high compressive strength making it a suitable material for insulating roof tops covered with bitumen and other heavy materials. In addition, owing to its compatibility it is utilized with adhesives and in membranes that require barrier to air and liquid. These factors are expected to drive the global cellular glass market in the forecast period.

The cellular glass market is predicted to grow enormously in terms of revenue in the forecast period. The market is predicted to grow with the rise in the demand of cellular glass in various construction activities. The sudden outbreak of the COVID-19 impact have resultant in shutdown of various industrial and construction activities. With a span of time, when the unlock procedure starts, the demand for construction activities will increase. The cellular glass are lightweight, high strength and thermal with acoustic insulating properties due to which the cellular glass are mostly used in the construction activities which will eventually increase the demand for cellular glass, thus driving the global market in the estimated period.

Rising demand of cellular glass in building & construction application is anticipated to drive the global cellular glass market

Insulation materials are used in construction for providing thermal insulation. Rising population has enhanced the construction activity around the world. Construction end-users include residential, commercial, and civil construction. People are concentrating more on the energy saving process and cellular glass being suitable for this purpose, it is used as an insulation material in construction of floors, walls, and roofs. Moreover, rise in the construction of new homes, commercial buildings, and other construction activities will enhance the use of cellular glass in the forecast period. In addition, there are several other applications of cellular glass such as insulation material in cold storage facilities, flotation blocks for nets in submarines, and others that will increase the demand of cellular glass in the forecast period.

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Properties such as fragility and high cost are major factors that are restraining the market growth in the predicted period

Despite its beneficial properties, there are several properties of cellular glass such as fragility, susceptible to induced damage due to vibrations, and high cost of cellular glass that are anticipated to decline the growth of the market in the projected period. Owing to its fragility, cellular glass can be broken due to vibrations on process lines, equipment, and utilities. Moreover, it is susceptible to various chemicals such as potassium and sodium hydroxide solutions. Thus, cellular glass cannot be used as an insulating material on the process lines, equipment, or utilities that handle these solutions. Availability of alternative insulating materials that offer the same physical and chemical properties at reduced cost is hampering the demand of cellular glass.

Rising construction activity around the world is foreseen to provide investment opportunity in the global cellular glass market

Growing population has led to an increased construction activity around the world. Cellular glass is being used as a thermal insulation material in construction activity which has already increased the demand of the global cellular glass market. Other applications of cellular glass in building facades, roof insulation, pools, and process pipe plant insulation is foreseen to offer investment opportunity in the global market. Cellular glass has multiple properties such as strength, moisture resistance, and stability, which has made it an appropriate insulation material in cryogenic applications such as low temperature pipe, chemical processing systems, heat transfer fluid systems, and others. Thus rising use of cellular glass in construction activity and process industries is foreseen to offer tremendous opportunities in the global market.

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