Austin, Oct. 23, 2024 (GLOBE NEWSWIRE) -- What is the growth of the Foam Glass market?
As per the SNS Insider research, The Foam Glass Market Size was valued at USD 2.0 billion in 2023 and is expected to reach USD 3.3 billion by 2032 and grow at a CAGR of 5.6% over the forecast period 2024-2032.
The major driving factors for the growth of the global foam glass market are increasing food sector application for foam glass, rising demand for nutrient consumption and nutricosmetics, growing healthcare applications, and increased use of foam glass-based biomaterials.
The foam glass market has come under immense growth owing to its varied applications in the construction, food and beverage, and healthcare industries. Foam glass is among the lightweight and durable materials obtained as a result of expanding the glass particles to produce a distinctive structure characterized by the property of being insulating yet highly energy efficient. It is helped by the broad key dynamic factors that include expanding demand for green building materials that spur the global sustainability agenda and improvement of manufacturing techniques to boost quality. High growing attention on energy efficiency in buildings coupled with increased uptake of foam glass in thermal insulation systems lead to the highest drivers for expansion of the market. Thus, the ever-growing demand for recyclable and sustainable resources has made environmental awareness in consumers push the foam glass industry further ahead. Foam glass offers resistance to moisture, chemicals, and pests, making it suitable for diversified applications and industrial insulation for consumer goods-making it a huge attraction to a broad market.
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Top 10 Companies Operating in the Foam Glass Industry Worldwide
- Owens Corning
- Saint-Gobain
- Pittsburgh Corning
- UFP Technologies
- Ecolab
- BASF
- Schott AG
- Johns Manville
- Firestone Building Products
- Trelleborg AB
Which segment dominated the Foam Glass Market?
The Building & Industrial Insulation segment dominated the foam glass market in 2023, holding an estimated market share of 65%. This segment's robust performance can be attributed to the increasing demand for energy-efficient building solutions and the rising awareness of thermal insulation benefits. For instance, foam glass insulation is widely used in commercial and residential buildings to enhance energy efficiency, reduce heating and cooling costs, and contribute to overall sustainability efforts.
Key Segments:
By Type
- Open Cell
- Closed Cell
By Process
- Physical
- Chemical
By Application
- Building & Industrial Insulation
- Chemical Processing Systems
- Consumer Abrasive
- Others
By End Use Industry
- Building & Construction
- Industrial
- Others
What are the driving factors of the Foam Glass market?
The Foam Glass market is witnessing robust growth, primarily due to the following driving factors:
- The importance of environmental protection in building materials has widely increased the use of foam glass since it is derived from 100% recycled glass and is fully recyclable.
- Strict laws on building's energy efficiency have resulted in increased demands for insulation materials, and more so, for foam glass, since it outperforms in thermal resistance and longevity.
- The growing use of foam glass in various applications, such as using it in the food and beverages industry for insulation and packaging has further expanded the market appeal for the product and hence increased new growth opportunities.
Foam Glass Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 2.0 Billion |
| Market Size by 2032 | USD 3.3 Billion |
| CAGR | CAGR of 5.6% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| DRIVERS | • Increasing Demand for Energy-Efficient Insulation Materials Drives the Foam Glass Market Growth • Rising Adoption of Recycled and Sustainable Materials Boosts Foam Glass Market Expansion |
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What are the opportunities in the Foam Glass market?
- Energy-efficient building practices would be pinned great hope on by fast-growing developing countries like China and India, among others. The scope for foam glass products here is huge and can help fuel growth in the market.
- Opportunities for innovation and product differentiation in the market arise from ongoing R&D on foam glass properties and applications, including improving fire resistance and sound insulation performances.
Which region dominated the Foam Glass market?
In 2023, Europe dominated the Foam Glass market, with a market share of 45%. The region encompasses Germany, France, the UK, Italy, Spain, and the Rest of Europe. There is a rising concern from consumers for foam glass-related health benefits, which makes up the formation of the foam glass supplements industry. The region has seen a lot of foam glass-based beverages, including cappuccino foam glass and soy foam glass, marketed by producers either as part of a protein mix or with fruits. Increasing usage of foam glass in different food products and beverages and changing consumer preference is gaining momentum for the market. Increased demand for minimally invasive or non-invasive technologies, as well as the increasing use of foam glass by the developed countries of Europe for the biomedical industry, further propels the growth within the market.
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Recent Developments:
- May 2023: Schlüsselbauer and Reiling merged their German operations under the company name Veriso GmbH & Co. KG. New company to which Schlüsselbauer and Reiling would both contribute 50%, which would incorporate Schlüsselbauer Geomaterials GmbH and Veriso Schaumglas GmbH, and four furnaces sintering across three sites, therefore becoming one of the largest foam glass gravel manufacturers in Europe.
The Foam Glass Market is anticipated to expand significantly with support from the increasing demand for environmentally friendly building materials, energy efficiency rules, and innovative applications in different industries. Taking into account the new product lines developed by innovative companies, more opportunities for development are to come across competition in the market.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Foam Glass Market Segmentation, by Type
8. Foam Glass Market Segmentation, by Process
9. Foam Glass Market Segmentation, by Application
10. Foam Glass Market Segmentation, by End-Use Industry
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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