New York, USA, Oct. 27, 2020 (GLOBE NEWSWIRE) -- A latest report published by Research Dive reveals that the global cellular glass market is anticipated to exceed $724.8 million by 2027, rising at a CAGR of 5.4% from 2020 to 2027. This report offers comprehensive insights on the present situation and future growth of the market. The report is a scrupulous research study, offering detailed market insights for new players, market players, stakeholders, investors, shareholders, etc.
Factors Impacting the Market Growth
According to the report, the increasing demand for cellular glass in building and construction projects for effective thermal insulation is boosting the growth of the global
cellular glass sector. Additionally, a rise in the construction activities worldwide is playing a major part in the growth of the market and opening novel investment
opportunities for the market players. On the other hand, the fragile nature of and high costs cellular glass are expected to restrain the cellular glass industry growth.
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The report segments the market into product type, type, application, and region.
Blocks and Shells Segment to Undergo Noteworthy Growth during the Forecast Period
By product type, the report divides the market into blocks & shells and foam glass gravel. Among these, the blocks & shells segment is estimated to grab a major market share by growing at a CAGR of 5.0% during the forecast period. This is mainly because of the flexible nature of blocks and shells type of cellular glasses.
Closed Cell Segment to Lead the Market throughout the Forecast Period
By type, the report divides the market into open cell and closed cell. Among these, the closed cell segment is expected to seize a major share of the global market by growing with a CAGR of 5.1% during the projected timeframe. This growth is mainly owing to rigid and stable nature of closed cell cellular glasses.
Asia Pacific Region to Unlock Rewarding Opportunities
The report analyzes the global cellular glass market across numerous regions including Asia Pacific, North America, Europe, and LAMEA. Among these, the Asia Pacific region is estimated to unlock lucrative opportunities for the market growth and seize the major market share by growing at a CAGR of 5.6% in the course of the projected period. This is mainly owing to the rising usage of cellular foam in construction activities in the region.
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COVID-19 Impact on the Market Growth
The COVID-19 pandemic has restricted the growth of global cellular glass industry as many construction activities have been halted due to the implementation of lockdown in various COVID-19 infected regions. However, when the construction activities are resumed after the relaxing of lockdown rules, the market is expected to show significant
growth.
Report Enlists the Top 10 Leading Players of the Cellular Glass Market include -
- Jahan Ayegh Pars Co.
- Polydros Sociedad Anonima (S.A)
- CNUD-EFCO Operations S.A.
- Owens Corning
- SZECO Insulation Technology Co. Ltd.
- Zhejiang Zhenshen Insulation Technology Corp., Ltd.
- Benarx
- Pinosklo
- Zhejiang Dehe Insulation Technology Co., Ltd.
- Amity Insulation Group Inc.
The report delivers several business strategies and tactics of the foremost players functioning in the market including recent strategic moves & developments,
product/service range, business performance, and SWOT analysis. Click Here to Get Absolute Top Companies Development Strategies Summary Report
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