Foam Glass Market - Forecast(2023 - 2028)

Report Code: CMR 70707 Report Format: PDF + Excel

Foam Glass Market Overview

Foam glass market size is forecast to reach US$2.8 billion by 2027, after growing at a CAGR of 5.7% during 2022-2027. Foam glass is an inorganic material widely used in the construction and industrial sector owing to thermal bridging and non-flammable properties. Also, foam glass has excellent resistance towards extreme temperatures, & corrosion which increases the life of the cryogenic system in the industrial sector. According to the United Nations Industrial Development Organization (UNIDO), 621 projects will be implemented with a total value of US$1,314 million in 2022 over the three thematic priority areas of Inclusive and Sustainable Industrial Development (ISID), such as creating shared prosperity, advancing economic competitiveness and safeguarding the environment. Therefore, the growing development of the industrial sector along with growing demand from buildings & construction, and others will boost the demand for foam glass during the forecast period.

COVID-19 Impact

The Covid-19 pandemic has been a major challenge for the foam glass market owing to directly affecting the manufacturer's supply chain across the globe and shutting down the production facilities to minimize the risk of virus spread. The major sectors such as construction, industrial, and others have been highly impacted. Due to social distancing policy, most of the construction projects have been halted to eradicate the risk of infection due to covid 19. According to Great Britain Office for National Statistics, the overall construction activity has been fallen by 44.4%, public construction fell by 70.3%, private construction activity has been fallen by 59.9%. As the pandemic affected the markets in each country, the strengths and weaknesses of the construction sector in each country will shape future outcomes. The initiation taken by the government and private sector will help to recover the foam glass market during the forecast period.

Report Coverage

The report: “Foam Glass Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the foam glass industry.

By Type: Open cell and Closed Cell.
By Application: Building roof insulation, Building exterior insulation, Sound insulation, Lightweight filler, Piping and Equipment, Storage tanks & Vessels, HVAC & Utilities, Passive fire protection, and Others.
By End-Use Industry: Building & Construction (Residential Construction (Independent Homes, Row Houses, Large Apartment Buildings), Commercial Construction (Hospitals & Healthcare, Educational Institutes, Hotels & Restaurants, Banks & Financial Institutions, Airports, Shopping Malls, Hyper & Super Markets), Infrastructure (Roads & Highways, Drainage System, Water Treatment plants and Others)), Industrial and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and New Zeeland, Indonesia, Taiwan, Malaysia, and Rest of APAC), and Rest of the World: The Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa).

Key Takeaways

  • The Asia Pacific is expected to register a CAGR of 6.9% during the forecast period (2022-2027). The increasing demand from industrial construction, among Asian countries such as China, India, Japan, and South Korea is driving the market for foam glass.
  • Growing demand for glass foam for industrial purposes for insulation is expected to boost the demand for foam glass during the forecast period.
  • Robust demand for insulating cryogenic systems for pipelines, valves, and others owing to temperature and corrosion property will increase the demand for the foam glass market.

Figure: Asia Pacific Foam Glass Market Revenue, 2021-2027 (US$ Billion)


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Foam Glass Market Segment Analysis – By Type

The closed-cell segments accounted for around 62% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Closed-cell is airtight sealed foam glass having ultra-lightweight, excellent drainage properties with low capillarity, acid, and chemical resistance. The closed-cell foam glass is widely used in building & construction to provide high compressive strength for wall & floor insulation, roofing insulation. Furthermore, foam glass also acts as a filler for roads, bases of buildings, runways, and others. According to the Associated General Contractors of America (AGC), the construction industry is a major contributor to the U.S. economy and creates nearly US$1.4 trillion worth of structures each year with more than 7 million employees. Therefore, the use of closed-cell foam glass for construction activity will boost demand for foam glass during the forecast period.

Foam Glass Market Segment Analysis - By End-Use Industry

The industrial segment accounted for approximately 48% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. The foam glass is widely used as an insulating material in the industrial sector for the chemical processing system, cryogenic system, pipe insulation, and giving fire resistance properties. Foam glass gives corrosion, moisture, and waterproof resistance to industrial equipment under extreme temperature, freeze tolerance which helps to boost the demand for foam glass. Furthermore, foam glass is expected to boost the demand for industrial sectors in the coming years owing to a lower carbon footprint. According to the Confederation of European Paper Industries, paper, and board production increased by 5% with the total production being around 90.2 tonnes million in 2021 as compared to 2020 and forecast to grow by 4% in 2022 and by 2.8% in 2023. Therefore, the growing industrial sector will boost the demand for the foam glass market during the forecast period.

Foam Glass Market Segment Analysis - By Geography

Asia Pacific region held the largest share in the foam glass market in 2021 up to 38%, owing to the growing industrial, residential, commercial, and large infrastructure projects, in developing countries like China, India, Indonesia, and others. The major factors responsible for the growth of foam glass are low carbon footprint which gives eco-friendly insulating products and can be recycled. The foam glass products are widely used as a filler in the basement of the highway, roads, and any other construction projects. These are also used as fire-resistant in the commercial and industrial sectors. According to the Republic of Philippines Authority, the total number of residential permits for construction in the third quarter of 2021 is around 24,332 and non-residential permits for construction in the third quarter of 2021 is around 5,491. According to China Association for Medical Devices Industry (CAMDI), the development and reform commission of Shenzhen municipality, china is investing US$15.82 million for the special support program for market access of drugs and medical devices. Therefore, the growing construction and industrial sector are boosting the demand for the foam glass market during the forecast period.

Foam Glass Market Drivers:

The growing demand for environment-friendly foam glass product

The growing demand for environment-friendly foam glass products in residential and commercial construction is driving the foam glass market. Foam glass product acts as the best insulating agent in the construction sector owing to their low carbon footprint, fire protection, and eco-friendly nature. Furthermore, foam glass is also widely used in the industrial sector owing to moisture resistance, maintaining an integral temperature of the chemical processing system, insulating pipeline, and others. According to the US Department of Commerce, as of January 2022, new residential permits are 1,899,000, construction begins for 1,638,000 units. According to the State Council People's Republic of China, industrial production continued to recover in 2021 with major industrial firms reaching 34.3% year-on-year. Therefore, the growing construction and industrial sector will be driving the foam glass market during the forecast period.

Foam Glass Market Challenges:

Higher Price of foam glass

Foam Glass are premium products, so they are available at higher prices when compared to rubber and other materials. The reason behind this is its production cost, while producing products, the machinery and the equipment which are used are tagged with higher expense, also, these machineries require high maintenance. Owing to this factor, the product of Foam Glass comes with a higher price as compared to its alternative materials, which tends to constrain the growth of the market. The price of the product varies from US$25 to US$100 based on quality and application. Also, the lack of awareness of the foam glass insulating product among a specific section of the population is hampering the market growth during the forecast period.

Foam Glass Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the foam glass market. 

Global Foam glass top 10 companies include

  1. Owens Corning
  2. AeroAggregates
  3. Glapor
  4. GEOCELL Schaumglas GmbH
  5. Polydros S.A
  6. MISAPOR
  7. Uusioaines OY
  8. Refaglass
  9. Zhejiang Dehe Insulation Technology Co., Ltd
  10. Liaver GmbH & Co

Recent Developments

  • In October 2021, Burlington-based Foam Glass Glavel, announced to start of production of a building material made from recycled glass that can be used as both a drainage layer and sub-slab insulation
  • In August 2021, Foamit Group Oy acquired the Norwegian foam glass manufacturing company Glasopor AS. The acquisition will strengthen Foamit Group’s position as the main manufacturer of foam glass in the Nordic countries and one of the largest worldwide players in the industry.
  • In August 2021, AeroAggregates has started work on a new production facility in Marion County. In its first year, the facility expects to recycle the equivalent of 140 million glass bottles. The plant manufactures ultra-lightweight foamed glass collections that are used in infrastructure and commercial construction throughout the Southeastern United States. 

Relevant Reports 

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Cold Insulation Market - Forecast(2022 - 2027)
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Aerospace Foam Market - Forecast(2022 - 2027)
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1. Foam Glass Market- Market Overview
    1.1 Definitions and Scope 
2. Foam Glass  Market- Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by End-use Industry
    2.4 Key Trends by Geography
3. Foam Glass  Market– Comparative analysis 
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Foam Glass  Market - Startup Companies Scenario Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Foam Glass Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Foam Glass  Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
    6.3.1 Bargaining Power of Suppliers
    6.3.2 Bargaining Powers of Buyers
    6.3.3 Threat of New Entrants
    6.3.4 Competitive Rivalry
    6.3.5 Threat of Substitutes 
7. Foam Glass  Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Foam Glass  Market – By  Type (Market Size -US$ Million/Billion)
    8.1 Open cell
    8.2 Closed Cell
9. Foam Glass  Market – By Application (Market Size -US$ Million/Billion)
    9.1 Building roof insulation
    9.2 Building exterior insulation
    9.3 Sound insulation
    9.4 Lightweight filler
    9.5 Piping and Equipment
    9.6 Storage tanks & Vessels
    9.7 HVAC & Utilities
    9.8 Passive fire protection
    9.9 Others
10. Foam Glass  Market – By End Use Industry(Market Size -US$ Million/Billion)
    10.1 Building & Construction
        10.1.1 Residential Construction
            10.1.1.1 Residential Construction
            10.1.1.2 Independent Homes
            10.1.1.3 Row Houses
            10.1.1.4 Large Apartment Buildings 
        10.1.2 Commercial  Construction
            10.1.2.1 Hospitals & Healthcare
            10.1.2.2 Educational Institutes
            10.1.2.3 Hotels & Restaurants
            10.1.2.4 Banks & Financial Institutions Airports
            10.1.2.5 Shopping Malls
            10.1.2.6 Hyper & Super Markets
        10.1.3 Infrastructure
            10.1.3.1 Roads & Highways 
            10.1.3.2 Drainage System
            10.1.3.3 Water Treatment plants
            10.1.3.4 Others
    10.2 Industrial
    10.3 Others
11. Foam Glass  Market - By Geography (Market Size -US$ Million/Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Foam Glass  Market– Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Foam Glass  Market – Industry/Segment Competition Landscape Premium
    13.1 Company Benchmarking – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Foam Glass  Market – Key Company List by Country Premium Premium
15. Foam Glass  Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10  Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Foam Glass Market, By Type Market 2019-2024 ($M)
1.1 Open Cell Market 2019-2024 ($M) - Global Industry Research
1.2 Closed Cell Market 2019-2024 ($M) - Global Industry Research
2.Global Foam Glass Market, By Process Market 2019-2024 ($M)
2.1 Physical Process Market 2019-2024 ($M) - Global Industry Research
2.2 By Chemical Process Market 2019-2024 ($M) - Global Industry Research
3.Global Foam Glass Market, By End-Use Industry Market 2019-2024 ($M)
3.1 Building & Construction Market 2019-2024 ($M) - Global Industry Research
3.1.1 Residential and Commercial Construction Market 2019-2024 ($M)
3.1.2 Civil Construction Market 2019-2024 ($M)
3.2 Industrial Market 2019-2024 ($M) - Global Industry Research
4.Global Foam Glass Market, By Type Market 2019-2024 (Volume/Units)
4.1 Open Cell Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Closed Cell Market 2019-2024 (Volume/Units) - Global Industry Research
5.Global Foam Glass Market, By Process Market 2019-2024 (Volume/Units)
5.1 Physical Process Market 2019-2024 (Volume/Units) - Global Industry Research
5.2 By Chemical Process Market 2019-2024 (Volume/Units) - Global Industry Research
6.Global Foam Glass Market, By End-Use Industry Market 2019-2024 (Volume/Units)
6.1 Building & Construction Market 2019-2024 (Volume/Units) - Global Industry Research
6.1.1 Residential and Commercial Construction Market 2019-2024 (Volume/Units)
6.1.2 Civil Construction Market 2019-2024 (Volume/Units)
6.2 Industrial Market 2019-2024 (Volume/Units) - Global Industry Research
7.North America Foam Glass Market, By Type Market 2019-2024 ($M)
7.1 Open Cell Market 2019-2024 ($M) - Regional Industry Research
7.2 Closed Cell Market 2019-2024 ($M) - Regional Industry Research
8.North America Foam Glass Market, By Process Market 2019-2024 ($M)
8.1 Physical Process Market 2019-2024 ($M) - Regional Industry Research
8.2 By Chemical Process Market 2019-2024 ($M) - Regional Industry Research
9.North America Foam Glass Market, By End-Use Industry Market 2019-2024 ($M)
9.1 Building & Construction Market 2019-2024 ($M) - Regional Industry Research
9.1.1 Residential and Commercial Construction Market 2019-2024 ($M)
9.1.2 Civil Construction Market 2019-2024 ($M)
9.2 Industrial Market 2019-2024 ($M) - Regional Industry Research
10.South America Foam Glass Market, By Type Market 2019-2024 ($M)
10.1 Open Cell Market 2019-2024 ($M) - Regional Industry Research
10.2 Closed Cell Market 2019-2024 ($M) - Regional Industry Research
11.South America Foam Glass Market, By Process Market 2019-2024 ($M)
11.1 Physical Process Market 2019-2024 ($M) - Regional Industry Research
11.2 By Chemical Process Market 2019-2024 ($M) - Regional Industry Research
12.South America Foam Glass Market, By End-Use Industry Market 2019-2024 ($M)
12.1 Building & Construction Market 2019-2024 ($M) - Regional Industry Research
12.1.1 Residential and Commercial Construction Market 2019-2024 ($M)
12.1.2 Civil Construction Market 2019-2024 ($M)
12.2 Industrial Market 2019-2024 ($M) - Regional Industry Research
13.Europe Foam Glass Market, By Type Market 2019-2024 ($M)
13.1 Open Cell Market 2019-2024 ($M) - Regional Industry Research
13.2 Closed Cell Market 2019-2024 ($M) - Regional Industry Research
14.Europe Foam Glass Market, By Process Market 2019-2024 ($M)
14.1 Physical Process Market 2019-2024 ($M) - Regional Industry Research
14.2 By Chemical Process Market 2019-2024 ($M) - Regional Industry Research
15.Europe Foam Glass Market, By End-Use Industry Market 2019-2024 ($M)
15.1 Building & Construction Market 2019-2024 ($M) - Regional Industry Research
15.1.1 Residential and Commercial Construction Market 2019-2024 ($M)
15.1.2 Civil Construction Market 2019-2024 ($M)
15.2 Industrial Market 2019-2024 ($M) - Regional Industry Research
16.APAC Foam Glass Market, By Type Market 2019-2024 ($M)
16.1 Open Cell Market 2019-2024 ($M) - Regional Industry Research
16.2 Closed Cell Market 2019-2024 ($M) - Regional Industry Research
17.APAC Foam Glass Market, By Process Market 2019-2024 ($M)
17.1 Physical Process Market 2019-2024 ($M) - Regional Industry Research
17.2 By Chemical Process Market 2019-2024 ($M) - Regional Industry Research
18.APAC Foam Glass Market, By End-Use Industry Market 2019-2024 ($M)
18.1 Building & Construction Market 2019-2024 ($M) - Regional Industry Research
18.1.1 Residential and Commercial Construction Market 2019-2024 ($M)
18.1.2 Civil Construction Market 2019-2024 ($M)
18.2 Industrial Market 2019-2024 ($M) - Regional Industry Research
19.MENA Foam Glass Market, By Type Market 2019-2024 ($M)
19.1 Open Cell Market 2019-2024 ($M) - Regional Industry Research
19.2 Closed Cell Market 2019-2024 ($M) - Regional Industry Research
20.MENA Foam Glass Market, By Process Market 2019-2024 ($M)
20.1 Physical Process Market 2019-2024 ($M) - Regional Industry Research
20.2 By Chemical Process Market 2019-2024 ($M) - Regional Industry Research
21.MENA Foam Glass Market, By End-Use Industry Market 2019-2024 ($M)
21.1 Building & Construction Market 2019-2024 ($M) - Regional Industry Research
21.1.1 Residential and Commercial Construction Market 2019-2024 ($M)
21.1.2 Civil Construction Market 2019-2024 ($M)
21.2 Industrial Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Foam Glass Market Revenue, 2019-2024 ($M)
2.Canada Foam Glass Market Revenue, 2019-2024 ($M)
3.Mexico Foam Glass Market Revenue, 2019-2024 ($M)
4.Brazil Foam Glass Market Revenue, 2019-2024 ($M)
5.Argentina Foam Glass Market Revenue, 2019-2024 ($M)
6.Peru Foam Glass Market Revenue, 2019-2024 ($M)
7.Colombia Foam Glass Market Revenue, 2019-2024 ($M)
8.Chile Foam Glass Market Revenue, 2019-2024 ($M)
9.Rest of South America Foam Glass Market Revenue, 2019-2024 ($M)
10.UK Foam Glass Market Revenue, 2019-2024 ($M)
11.Germany Foam Glass Market Revenue, 2019-2024 ($M)
12.France Foam Glass Market Revenue, 2019-2024 ($M)
13.Italy Foam Glass Market Revenue, 2019-2024 ($M)
14.Spain Foam Glass Market Revenue, 2019-2024 ($M)
15.Rest of Europe Foam Glass Market Revenue, 2019-2024 ($M)
16.China Foam Glass Market Revenue, 2019-2024 ($M)
17.India Foam Glass Market Revenue, 2019-2024 ($M)
18.Japan Foam Glass Market Revenue, 2019-2024 ($M)
19.South Korea Foam Glass Market Revenue, 2019-2024 ($M)
20.South Africa Foam Glass Market Revenue, 2019-2024 ($M)
21.North America Foam Glass By Application
22.South America Foam Glass By Application
23.Europe Foam Glass By Application
24.APAC Foam Glass By Application
25.MENA Foam Glass By Application
26.Owens Corning, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Zhejiang Zhenshen Insulation Technology Corp. Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.UUSIOAINES OY/Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Zhejiang DEHE Insulation Technology Co., Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Glapor, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.MISAPOR, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Polydros, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Earthstone International, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Refaglass, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Anhui Huichang New Material Co., Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Additional Players, Sales /Revenue, 2015-2018 ($Mn/$Bn)