Foam Glass Industry Size and Growth Analysis 2019 to 2025
Foam Glass Market Overview | Industry Size and Growth:
Foam glass is widely used in the construction of building which is light weight and exhibits high strength, thermal and acoustic insulating properties. These materials are made up of by heating crushed or granulated glass and blowing agent like limestone or carbon and at melting point, it produces foaming effect in the glass. It hardens once it gets cools and is a rigid material with gas filled closed cell pores. The market is projected to reach USD 1964 kilotons by 2025, registering CAGR of 5.5% during the forecast period.
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Rises in the construction of buildings with innovative structural designs is accelerating the growth of the market. Shifting trend towards light-weight materials is also greatly influencing the growth of the market. Growing concern towards environmental safety measures is propelling the demand of the foam glass market.
However, lack of skilled persons in utilizing the foam glass for various applications is slowly hindering the growth of the market. Rapid changes in the economic strategies may impact negatively on the growth of the market.
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Growing prevalence for the fires resistant and water-resistant materials in chemical processing industries is to set up growth opportunities for the market. Stringent rules and regulations by government to provide suitable materials for industries is escalating the growth of the market. Increasing capital income in both developed and developing countries is lavishing the demand of the foam glass market.
Geographical Analysis:
Geographically, the market is segmented into North America, Europe, Asia Pacific and Middle East and Africa. North America is witnessed in holding highest shares of the market by owing to rise in the disposable income in urban areas. Asia Pacific and Europe are following North America in leading dominant shares of the market. Rising commercial and residential buildings with innovative interior designs is prompting the growth of the market in these regions. Also, increasing scale of packaging industries and adoption of latest technologies are ascribed to bolster the demand of the market. Middle East and Africa is anticipated to have significant shares of the market in coming years.
Leading Companies Dominating the Global Foam Glass Market are:
Some of the prominent players involved in the foam glass market are Owens Corning (US), Zhejiang Dehe Insulation Technology Co., Ltd. (China), Zhejiang Zhenshen Insulation Technology Corp. (China), UUSIOAINES OY (Finland), Glapor (Germany), MISAPOR (Switzerland), Polydros S.A.(Spain), Refaglass (Czech Republic), Earthstone international (US), and Anhui Huichang New Material Co., Ltd. (China).
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