Cellular Glass Market to grow by USD 129.7 million from 2023 to 2028; Increased emphasis on energy efficiency and sustainability to drive growth - Technavio

NEW YORK, Dec. 21, 2023 /PRNewswire/ -- The cellular glass market is expected to grow by USD 129.7 million from 2023 to 2028. However, the growth momentum of the market will progress at a CAGR of 4.05% during the forecast period. The market is segmented by type (closed glass and open glass), product type (block and shell and foam glass gravel), and geography (Europe, North America, APAC, Middle East and Africa, and South America). The Increased emphasis on energy efficiency and sustainability is a key factor driving market growth. Energy-efficient buildings have the primary advantage of being able to use less energy for heating and cooling, reduce greenhouse gas emissions, and lower operational costs. In addition, it contributes to reduced loss of heat or gain and thus lower energy consumption for temperature control due to its low conduction coefficient and moisture resistance.

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Key Highlights:

• The report recognizes the following as some of the key players in the cellular glass market: Beerenberg AS, Dehe Technology Group Co., LTD, Energocell, Excelsior Ceramic Industries, FOAMit, GLAPOR Schaumglasdammstoffe, Huaneng Zhongtian Energy Conservation Technology Group Co., Ltd. , IBSL Group, INSULTHERM, Misapor AG, MOWCO INDUSTRY LTD, Owens Corning, POLYDROS S.A., Refaglass s.r.o., SCHLUSSELBAUER TECHNOLOGY GMBH and CO KG, Shanghai Metal Corp.,  Sun Refractories , Wedge Industries Ltd, ZHEJIANG ZHENSHEN INSULATION TECHNOLOGY CORP.LTD, and Tianjin Huali Thermal Insulation Building Material Co., Ltd
• Cellular Glass Market is fragmented in nature.
• Market to observe 3.05% YOY growth in 2024.

Market Dynamics:

Major Trend

• Technological advancements in cellular glass production are a major trend in the market.
• These innovations represent changes in the structure of cells, reduced temperature conductivity, and improved energy efficiency for buildings and industrial applications.
• Furthermore, the durability and longevity of cellular glass products have improved as a result of new manufacturing techniques and formulations that allow them to be used for longer periods under harsh conditions.

Significant Challenge

• The lack of standardization in cellular glass products is a significant challenge restricting market growth.
• There can be differences in the quality of cell glass products from different manufacturers due to a lack of standardized testing methods as well as requirements for quality.
• In addition, the performance of cell glass insulation may differ as a consequence of product standards that do not specify clear specifications on properties such as heat conductivity, compression strength, and moisture resistance.

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Keg Segments:

• The closed glass segment is estimated to witness significant growth during the forecast period. Closed cellular glass segments for the protection of pipes in industrial settings are becoming more and more popular. Furthermore, this material offers very good heat insulation to avoid loss or gain in the pipes. In addition, in particular, on flat or lower-lope roof systems it is sometimes applied as a material for insulation that has been sealed by cellular glass. 

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Related Reports:

The glass blocks market size is estimated to grow by USD 575.42 million at a CAGR of 9.64% between 2023 and 2028. 

The glass market is estimated to grow by USD 99.26 billion at a CAGR of 5.77% between 2022 and 2027. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Product Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio