Foam Glass Market

Increased use of foam glass in construction and building applications drives market growth

Cellular glass is widely used as an insulating material in critical enclosures, building fireproof panels, and green roof insulation. This is because it is air and vapor tight, decreases the risk of humidity buildup, and cannot catch fire. Other glasses, including as positive roofs, inclined roofs, and inverted roofs, are employed as insulation materials outside of buildings in flower plantation areas, driving the foam glass market CAGR. Population growth has also spurred construction activity, which promotes demand for cellular glass. Because individuals are increasingly more interested in saving energy, the market has developed rapidly.

In Denmark, cellular glass was utilized to construct a whole energy-efficient structure known as a "passive house wall." This residence was constructed as part of Grasten Teglvaerk's Clean Tech Block project. According to the project manager, this house was designed to demonstrate how sturdy and energy-efficient cellular glass is. Therefore, the growth of the market is driven by the rise in the use of foam glass revenue in the building industry.

According to Pittsburgh Corning Corporation, a renowned manufacturer and supplier of insulation, roofing, and fiberglass composite materials, cellular glass is utilized to create 75% of LNG storage infrastructure above ground level. Cellular glass is a foundation material with another material on top or between it. As a result of these characteristics, more individuals use foam glass for storage, propelling market revenue.

Additionally, foam glass is particularly suited as a stiff insulation medium in traffic areas, walls, and roofs where other materials are squeezed, resulting in an uneven surface and a loss of insulating characteristics. Foam glasses can also act as a barrier for temperature fluctuations or stopping gases or liquids from going through. The insulating properties of foam glass raise the demand for this glass in the market, which is expected to increase the market growth rate.

July 2023: Sheela Foam has made history by announcing two deals at the same time, which is known for its acquisitions. If it gets regulatory approval, the transaction will close in November.

January 2023: Schlüsselbauer (AT) and Reiling (DE), family-owned foam glass companies from Germany, are merging their German operations. From that initiative, Veriso GmbH & Co. KG a collaborative entity, was formed whose stakeholders still own an equal share of 50% in the newly-formed company.2024: Schott launched a new range of foam glass products with improved thermal insulation and durability for construction applications

The Global Foam Glass Market Industry is experiencing a surge in demand due to the increasing emphasis on sustainable building practices. Foam glass, known for its eco-friendly properties, is made from recycled glass and offers excellent insulation. As construction companies strive to meet stringent environmental regulations, the adoption of foam glass is likely to rise. In 2024, the market is projected to reach 2.32 USD Billion, reflecting a growing preference for materials that reduce carbon footprints. This trend aligns with global initiatives aimed at promoting sustainability in construction, thereby enhancing the market's growth prospects.

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. By region, the market across North America held the largest share in 2022, accounting for more than one-third of the form glass market, due to high adoption rate of form glass and increase in R&D activities by energy companies in the region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: FOAM GLASS MARKET SHARE BY REGION 2022 (%)  Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe’s foam glass market accounts for the second-largest market share due to growing need for eco-friendly insulating materials across a range of end-use industries, including building and construction, industrial, and others. Further, the German foam glass market held the largest market share, and the UK foam glass market was the fastest-growing market in the European region

The Asia-Pacific Foam Glass Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increasing use of foam glass because of its many benefits, such as affordability, low environmental impact, and reusability. Moreover, China’s foam glass market held the largest market share, and the Indian foam glass market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in R&D in order to expand their product lines, which will help the foam glass market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, foam glass industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the foam glass industry to benefit clients and increase the market sector. In recent years, the foam glass industry has offered some of the most significant advantages to medicine. Major players in the foam glass market, including Zhejiang Dehe Insulation Technology Co., Ltd. (China), Zhejiang Zhenshen Insulation Technology Corp. (China), UUSIOAINES OY (Finland) and others, are attempting to increase market demand by investing in R&D operations.

Corning Incorporated is a multinational technology corporation based in the United States that specializes in specialized glass, ceramics, and related materials and technologies, including advanced optics, principally for industrial and scientific purposes. Corning Glass Works was the company's name until 1989. Corning sold the Corning Consumer Products Company division (now known as Corelle Brands) to Borden in 1998, divesting its consumer product lines (including CorningWare and Visions Pyroceram-based cookware, Corelle Vitrelle tableware, and Pyrex glass bakeware). In June 2019, Owens Corning bought Pittsburgh Corning, a foam glass firm.

As a result of this, Owens Corning was able to expand its product offering. Pittsburgh Corning is a worldwide leader in foam glass and a subsidiary of Owens Corning with a presence in 17 countries.

Aubrey K. McClendon launched American Energy Partners, LP (AELP), an American natural gas and oil firm, in April 2013. The company oversaw affiliates in charge of natural shale gas and oil production and exploration in the United States, as well as asset, mineral, royalties, and non-operated property administration. As of August 2015, it was headquartered in Oklahoma City, Oklahoma, and employed approximately 450 employees. On May 18, 2016, two months after McClendon's death, AELP announced that company would cease operations and close by the end of summer 2016.

In June 2019, The company has announced that American Energy - Appalachia, LLC, the affiliate holding its Utica and Marcellus companies, has been renamed Ascent Resources, LLC. Ascent Resources, according to AELP, will become an independent corporation.