Cellular Glass Market Size, Share & Trends Analysis Report By Product (Blocks & Shells, Sheets & Panels), By Application (Construction, Industrial), By Region, And Segment Forecasts, 2024 - 2030

Cellular Glass Market Size, Share & Trends Analysis Report By Product (Blocks & Shells, Sheets & Panels), By Application (Construction, Industrial), By Region, And Segment Forecasts, 2024 - 2030

Cellular Glass Market Growth & Trends

The global cellular glass market size is anticipated to reach USD 763.9 million by 2030, registering a CAGR of 2.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is being driven by a rise in demand for high-quality insulation for industrial purposes, initiatives undertaken by governments in developing countries to reduce carbon emissions, and increasing building safety norms that require buildings to be protected against fire. Cellular glass insulation is a category of thermal insulation that is made from recycled glass and sand. It is an inorganic material composed of millions of sealed glass cells that capture gas and provide insulation. This unique closed-cell structure ensures stable thermal conductivity for an extended period.

Due to the non-permeable nature of the cells, no water molecules can diffuse through the material, making internal condensation impossible. This results in a material that is both vapor-tight and incombustible, with high compressive strength. There is a growing global emphasis on improving the energy efficiency of buildings. According to the International Energy Agency (IEA), commercial, residential, and public buildings consume 36% of produced energy in the world. Therefore, they offer significant opportunities for energy savings. The IEA estimates that buildings could account for about 41% of the world's energy savings potential by 2035. Cellular glass insulation can reduce heat transfer, leading to energy savings.

By managing temperature fluctuations, industries can optimize energy usage. Cellular glass insulation is an ideal solution for various insulation requirements across a range of industrial environments, owing to its properties of thermal insulation, fire resistance, chemical resilience, and long-lasting performance. Hence, it increases industrial efficiency & safety and is aligned with environmental sustainability goals. Notable M&A activities took place in the market. For instance, in May 2023, Schlüsselbauer and Reiling announced the merger of their German activities in the cellular glass sector. For this purpose, the joint company, Veriso GmbH & Co. KG, was founded with equal stakes from both parties.

Cellular Glass Market Report Highlights

• The blocks & shells product segment held the highest share of about 67.4% in 2023 owing to growth in application segments. Blocks & shells are used in storage tank insulation, pipelines, and roof insulation
• The buildings & industrial application segment accounted for the largest share in 2023 and is expected to witness a CAGR of 3.5% from 2024 to 2030
• Cellular glass is widely used in the construction sector due to its thermal insulation properties, as it is energy-efficient and resistant to moisture
• It can be used as a lightweight aggregate in concrete in various industries. In addition, it is used for insulation purposes in HVAC systems, piping, and roofing
• Europe accounted for the highest revenue share in 2023 and is projected to witness a CAGR of 4.8% from 2024 to 2030. Increasing product demand can be attributed to the shift from polymer foams to cellular glass

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