Global Foam Glass Market Size study & Forecast, by Deposit (Open Cell Foam Glass, Closed Foam Glass) by Application (Industrial, Building & Construction, Other) and Regional Analysis, 2023-2030

Global Foam Glass Market Size study & Forecast, by Deposit (Open Cell Foam Glass, Closed Foam Glass) by Application (Industrial, Building & Construction, Other) and Regional Analysis, 2023-2030

Global Foam Glass Market is valued approximately USD 2.09 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.2% over the forecast period 2023-2030. Foam glass is a versatile insulation material renowned for its exceptional thermal and acoustic properties. Composed primarily of crushed glass, it undergoes a unique manufacturing process involving the introduction of a foaming agent. This process results in the formation of a lightweight cellular structure characterized by numerous interconnected bubbles or cells. These cells impart foam glass with its distinctive porous appearance, creating a material that is both lightweight and highly insulating. The Foam Glass market is expanding because of factors such as rising demand from the construction industry, rising adoption in cold chain facilities and government regulations for energy conservation.

The rising demand from the construction industry is playing a pivotal role in driving the growth of the foam glass market. As the construction sector continues to expand globally, fueled by urbanization, population growth, and infrastructure development, there is a growing need for high-performance building materials that offer superior insulation properties. Foam glass, with its excellent thermal insulation capabilities, is increasingly recognized as a preferred choice for insulation in construction projects. According to United States Census Bureau, in United States, In February 2024, construction spending represent an increase of 10.7 percent (±1.3 percent) compared to February 2023, which stood at $1,889.6 billion. Moreover, during the initial two months of 2024, construction spending reached $298.1 billion, marking a substantial rise of 11.9 percent (±1.3 percent) compared to the same period in 2023, which recorded USD 266.5 billion in spending. Further, on February 2024, India's Finance Minister announced ambitious plans to allocate approximately USD 134 billion towards infrastructure development. Thus, rising construction industry is driving the market growth. In addition, growing demand from solar industry as well as Technological Advancements and Product Innovations are creating new opportunities to the market growth. However, the high cost of Foam Glass stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Foam Glass Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to new residential construction, repair, and remodeling activities, as well as commercial and industrial construction activities in the U.S., Canada, and Mexico. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as Growing demand for environment-friendly insulating materials in various end-use industries. For instance, in February 2023, The Indian government has revealed a significant investment of USD 31.65 billion for the construction of 100 cities as part of the smart cities plan. These 100 smart cities, alongside 500 other cities, are anticipated to attract additional investments totaling approximately INR 2 trillion (~USD 28.18 billion) over the next five years, opening up opportunities for the utilization of foam glass technology.

Major market player included in this report are:
Aero Aggregates of North America, LLC
Dehe Technology Group Co., LTD
GLAPOR
Jahan Ayegh Pars Company
Mike Wye Ltd
Owens Corning
Pittsburgh Corning, LLC
NOSKLO cellular glass
Shanghai Metal Corporation
Uusioaines Oy
Refaglass S.R.O

Recent Developments in the Market:
 In n May 2023, Schlüsselbauer and Reiling, merged their German operations to establish a new entity named Veriso GmbH & Co. KG. Both companies have an equal 50% ownership in the new venture and have integrated their production facilities. Veriso GmbH & Co. KG inherits the operations of Schlüsselbauer Geomaterials GmbH and Veriso Schaumglas GmbH, boasting a total of four foam glass furnaces spread across three production sites. This strategic consolidation positions the newly formed entity as one of the leading producers of foam glass gravel in Europe.
 In November 2022, the Foamit Group announced a substantial investment ranging from EUR 8-10 million (USD 8.6-10.8 million) aimed at enhancing the environmental sustainability of their production processes. The investment entails the addition of two new electricity-operated production lines at their facility in Norway, alongside modernization efforts to transition existing production lines to operate on electricity. These initiatives signify the Foamit Group's commitment to reducing their environmental footprint and embracing eco-friendly manufacturing practices.

Global Foam Glass Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Deposit, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Deposit:
Open Cell Foam Glass
Closed Foam Glass

By Application:
Industrial
Building & Construction
Other

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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