The global cellular glass market size is projected to reach USD 618 million by 2025 from the estimated USD 520 million in 2020, at a CAGR of 3.5% between 2020 and 2025. High-quality insulation for industrial purposes and protection against fire and long life are the driving factors for the growth of the cellular glass industry. The fragility of cellular glass, along with its susceptibility to vibration-induced damage and the lack of marketing, hamper the growth of the cellular glass market. However, environmental regulations and new application areas are projected to boost the demand for cellular glass in the coming years. However, the high cost of cellular glass and lack of awareness on the benefits of cellular glass is the challenging factors in the market.
Europe led the cellular glass market in 2019. The presence of major manufacturers of cellular glass in Europe accompanied by the awareness of the product is the factor driving the demand for cellular glass in the region. In addition, as the region is cold, and there exist stringent regulations regarding the use of sustainable and ecological friendly insulation material, the market for cellular glass is increasing.
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Moreover, growing demand for cellular glass in countries such as Norway, Sweden, and Denmark, in construction application due to its excellent load-bearing capacity and frost-free nature, is another factor driving the demand for cellular glass. Furthermore, the presence of oil-producing giants in countries such as Russia is another factor driving the demand for cellular glass in the region.
The growth of the cellular glass market has been influenced primarily by growth in construction and industrial applications. The market is fragmented with the dominance of players, such as Owens Corning (US). Other major players in the market include Zhejiang Zhenshen Thermal Technology Co., Ltd (China), Zhejiang Dehe Insulation Technology Co., Ltd. (China), Uusioaines Oy (Finland), Misapor AG (Switzerland), POLYDROS, S.A. (Spain), REFAGLASS s.r.o. (Czech Republic), Steinbach Schaumglas GmbH & Co. KG (Germany), Earthstone International LLC (US), GEOCELL Schaumglas GmbH (Germany), STES-Vladimir (Russia), German Geo Construction GmbH (Germany), Benarx (Norway), GLAVEL, INC. (US), Liaver GmbH & Co. KG (Germany), Jahan Ayegh Pars Company (Iran), and Anhui Huichang New Material Co., Ltd. (China), among others.
Owens Corning is one of the largest manufacturers of cellular glass for thermal insulation. It almost has a monopoly on the cellular glass market. Owens Corning is mainly into the making of blocks and shells. It develops a solution that saves energy and improves comfort in commercial and residential buildings. In the insulation segment, it is capitalizing on the US residential recovery and global commercial & industrial market growth. The company focusses on acquisition to remain competitive in the market. It acquired the company, Pittsburgh Corning, in July 2017 that supplies cellular glass under the name FOAMGLAS. The company aims to maintain its strong position in the market by using special raw materials for making the cellular glass.
Misapor AG (Switzerland), German Geo Construction GmbH (Germany), Steinbach Schaumglas GmbH & Co. KG (Germany), and GEOCELL Schaumglas GmbH (Germany) are few of the largest manufacturers for foam glass gravels. Most of the companies are producing foam glass gravels and are majorly present in Europe. These foam glass gravels are mostly made by 100% recycling glass, which makes it cheaper than the blocks & shells.
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