Foam Glass is a superior insulation material. It is characterized by small surface density, high strength, low thermal conductivity, heat resistance, anti-freeze-thaw resistance, low water absorption, no burning, sound absorption, good corrosion resistance, and workability. Foam glass is primarily being used across petroleum, chemicals, refrigeration, defense, and other industries.
In 2018, the global Foam Glass market was valued at US$ 1,180.2 Mn. The market is expected to grow with a CAGR of 6.9% during the forecast period. Recently, foam glass has acquired increasing significance in various fields of cryogenic systems, heat transfer fluid systems, chemical processing systems, commercial piping, and building. Globally, the foam glass market is mainly driven by the growing demand for these applications in developing countries such as China, India, and Brazil.
This foam glass market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the near future.
Based on regions, the global market for foam glass has been segmented into North America, Europe, Asia-Pacific, Central & South America America, and Middle East & Africa. In 2018, Europe accounted for the largest share in the foam glass market and this trend is expected to continue during the forecast period. Europe, Germany, Norway, and Sweden are expected to be the key players in the region. The growing demand for environment-friendly insulating materials in various end-use industries are driving the market in the region.
Cryogenic Systems is growing with the highest CAGR during the forecast period
Cryogenic Systems are expected to witness growth with a high CAGR during the forecast period. This segment is witnessing growth due to its increasing demand across the power & energy sector, coupled with rapid growing industrialization. Advancements in the power & energy sector have led to the enhancement of HTS cables and energy storage. Substantial investments in numerous developing countries including India, to construct smart cities and high-speed trains, are further expected to provide growth prospects for market expansion.
Europe is dominating the global foam glass market
North America and Europe are leading the foam glass market with the quick adoption of the latest technologies and by implementing them in various sectors. Europe is dominating the global foam glass market with 41.6% of market share in the year 2018 and is expected to witness same growth trends during the forecast period also. Asia pacific is growing with the highest CAGR in the global market, owing to its huge demand in the construction sector and rising awareness programs in industries regarding the advantages of foam glass. The Middle East and Africa are expected to witness significant growth in the coming years.
The key players operating in the global Foam Glass market are Pittsburgh Corning Corporation, Aeroaggregates LLC, Zhejiang Dehe Insulation Technology Co., Ltd., Anhui Huichang New Material Co. Ltd., Zhejiang Zhenshen Insulation Technology Corp. Ltd., Misapor A.G., GLAPOR Werk Mitterteich GmbH, Uusioaines Oy, REFAGLASS, and others. To expand the market, the majority of vendors are adopting new technologies and product launches in order to gain competitive advantage in the global market.
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Get latest Market Research Reports on Foam Glass. Industry analysis & Market Report on Foam Glass is a syndicated market report, published as Global Foam Glass Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026. It is complete Research Study and Industry Analysis of Foam Glass market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.