Honeycomb Glass Market Size was valued at USD 10.02 Billion in 2023. The Honeycomb Glass industry is projected to grow from USD 11.4 Billion in 2024 to USD 17.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.06% during the forecast period (2024 - 2032). Growing consumer demand for higher-quality insulating materials that are also more practically viable are the key market drivers boosting the expansion of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for honeycomb glass is being driven by the growing need for higher-grade insulating materials. The process of creating Nathan Allan's Honeycomb Glass involves melting larger frit pieces that are custom-sized and made in a variety of hues and tones. All of the pieces melt and fuse together thanks to our special fusing techniques, creating this unusual but organic honeycomb design.
Additionally, the market is growing primarily due to the growing demand for higher grade insulating materials in construction projects. A revolutionary kind of insulating material that combines affordability, safety, environmental protection, and comfort is honeycomb glass wall insulation. It preserves the long-term use of regular glass while incorporating fresh features. Because foam glass can absorb a substantial amount of noise in addition to heat, it is frequently used as wall insulation. Because of its special qualities, including its resistance to fire, corrosion, weight, rigidity, thermal insulation, chemical inertness, and resistance to water and steam, honeycomb glass is a lightweight insulating material that may be utilized for a wide range of applications.
These glasses are more economically viable and are anticipated to propel the expansion of the foam glass market because they are lightweight and easy to handle. Honeycomb glass functions effectively as a stiff insulation medium in traffic areas, walls, and roofs when other materials are squeezed, resulting in an uneven surface and the loss of insulating qualities. Foam glasses also act as a barrier against changes in temperature and the escape of liquids or gases. Foam glass is more in demand since it acts as insulation, which is anticipated to quicken market growth. High installation costs, however, are a significant problem that could restrict market revenue growth during the projected time. As a result, alternatives are being used by the home and business sectors.
For instance, Shiseido will launch eco-friendly product packaging options for online shoppers on June 20, 2022. Within the e-commerce packaging, the company substituted honeycomb wrap for bubble wrap and more ecologically friendly filling paper. Thus, result in driving the Honeycomb Glass Market revenue.
The Honeycomb Glass Market segmentation, based on type includes Black (Gray) Foam Glass, White Foam Glass, and Multicolor Foam Glass. The black (gray) foam glass segment dominated the market. Chemical processing systems make substantial use of black (gray) foam glass. It is the perfect material for this application since it has a low thermal conductivity and a great resilience to heat when compared to other types of foam glass.
Figure1: Honeycomb Glass Market, by Type, 2022&2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Honeycomb Glass Market segmentation, based on Application, includes Cryogenic Systems, Heat Transfer Fluid Systems, Chemical Processing Systems, and Commercial Piping and Building. The cryogenic systems category generated the most income. Due to the rapidly expanding industrialization and rising demand for power and energy across the board, this market is expanding. HTS cables and energy storage have improved as a result of developments in the power and energy industry.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Honeycomb Glass Market area will dominate this market. Production of iron and steel has increased in both developed and emerging nations as a result of the automobile industry's rapid expansion and the building of infrastructure. The market in North America for honeycomb glass materials—which are used for thermal insulation, acoustic ceilings, and window panels, and flooring—grew.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure2: HONEYCOMB GLASS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Honeycomb Glass Market has the second-largest portion of the market. This is a result of the growing demand for foam glass in this region. Further, the German Honeycomb Glass Market had the biggest market share, and the UK Honeycomb Glass Market was the European market with the quickest rate of growth.
The Asia-Pacific Honeycomb Glass Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. Foam glass is in high demand in the residential sector, which is expanding in the area, due to its ability to deflect fire. Moreover, China’s Honeycomb Glass Market had the biggest market share, and the Indian Honeycomb Glass Market was the Asia-Pacific region's fastest-growing market.
Leading market players are putting a lot of money into R&D to broaden their product lines, which will fuel further growth in the Honeycomb Glass Market. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure in an increasingly cutthroat and dynamic market, honeycomb glass industry must provide reasonably priced goods.
One of the main business strategies employed by manufacturers is to manufacture locally in order to reduce operating expenses in the global honeycomb glass industry to help customers and expand the market segment. In recent years, the honeycomb glass industry has provided some of the biggest benefits to medicine. Major players in the Honeycomb Glass Market, including Pittsburgh Corning, GLAPOR, Earthstone, JSC Gomelglass, REFAGLASS, Zhejiang DEHO, Huichang New Material, and others, are engaging in research and development activities in an effort to boost market demand.
GLAPOR Recycled Foamed Glass gravel is a great loosefill insulating aggregate for use in our LABC-accredited limecrete flooring system. Our flooring system does not include a moisture impermeable barrier, sometimes known as a damp proof membrane. We can control moisture penetration by using a layer of recycled foamed glass aggregate underneath the slab material. In 2023, GLAPORI have teamed up with Baufragen.de a leading online consulting platform in the construction industry.
Owens Corning acquired Pittsburg Corning, a company that produced foam glass. As a result, Owens Corning was able to expand its product line. A division of Owens Corning, Pittsburg Corning is a world leader in foam glass with operations across several nations. In 2022, The incidence of recordable incidents was 0.65. Compared to the manufacturing industry average for 2021 (the most recent data available), this performance is 81% better. This information comes from the U.S. Bureau of Labor Statistics.
June 2019: Hasopor AB is a Swiss foam glass manufacturer that Uusioaines Oy intended to purchase. As a consequence of this transaction, Uusioaines Oy will emerge as the foremost foam glass maker in Europe.
May 2021: Hexcel Corp. (Stamford, Conn.) and Metyx Composites (ISTANBU, Turkey) have partnered to produce high-performance pultruded carbon fiber profiles for the wind energy industry using unidirectional (UD) carbon fiber and polyurethane (PU) resin.
September 2022: FITS Air, which will have 1.28 x 1.48 m panels and perfect mechanical properties, is being developed to TRL 6 technology readiness level.
| Report Attribute/Metric | Details |
| Market Size2023 | USD 10.02 Bn |
| Market Size 2024 | USD 11.4 Bn |
| Market Size2032 | USD 17.7 Bn |
| Compound Annual Growth Rate (CAGR) | 5.06% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Pittsburgh Corning, GLAPOR, Earthstone, JSC Gomelglass, REFAGLASS, Zhejiang DEHO, Huichang New Material |
| Key Market Opportunities | · Growing need for higher-grade insulating materials |
| Key Market Dynamics | · Foam glass is more in demand since it acts as insulation, which is anticipated to quicken market growth. |
Honeycomb Glass Market Highlights:
Frequently Asked Questions (FAQ) :
In 2023, the market for honeycomb glass was estimated to be worth Significant Value worldwide.
From 2024 to 2032, the global market is expected to expand at a compound annual growth rate (CAGR) of 5.06%.
North America held the most market share worldwide.
Pittsburgh Corning, GLAPOR, Earthstone, JSC Gomelglass, REFAGLASS, Zhejiang DEHO, and Huichang New Material are the major companies in the market.
In 2023, the market was dominated by the Black (Gray) Foam Glass category.
Cryogenic Systems held the most market share worldwide.
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