Global Foam Glass Market: Overview
Outstanding insulation properties of foam glass make it ideal for a wide variety of industrial applications across diverse industries. Foam glass is water-resistant, fire-resistant, and comes with high load-bearing capacity. Besides, corrosion-resistant property of foam glass makes it ideal for insulating cryogenic systems of LPG and LNG pipelines.
However, the foam glass market is still in the nascent stage as far as industrial end-use segment is concerned and is anticipated to grow in the forthcoming years.
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France-based Saint-Gobain first invented foam glass with calcium carbonate as a foaming agent, in the 1930s. In 1935, Saint-Gobain applied for the first patent. Soviet Union too developed foam glass but experimentally at Mendeleev Institute of Chemical Technology, in 1939.
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Global Foam Glass Market: Notable Developments
Some important developments that are likely to define the upcoming marketing strategies pertaining to the global foam glass market.
- In June 2019, Finland-based Uusioaines Oy planned to make an acquisition of Hasopor AB, a Switzerland-based producer of foam glass. The acquisition will propel Uusioaines Oy to the position of market leading foam glass manufacturer in Europe.
- In June 2017, Owens Corning made an acquisition of Pittsburg Corning, producer of foam glass. This assisted Owens Corning to expand its portfolio of diverse product offerings. Pittsburg Corning now operates as a subsidiary of Owens Corning with its existence in around 17 countries and is an industry leader for foam glass.
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A few of the prominent market players in Foam Glass Market are Zhejiang Dehe Insulation Technology Co., Ltd., UUSIOAINES OY, Owens Corning, Anhui Huichang New Material Co., Ltd., Zhejiang Zhenshen Insulation Technology Corp.
Global Foam Glass Market: Key Trends
The global foam glass market is likely to gain traction due to the following factors:
High Insulation Value of Foam Glass Boosts its Demand in Various Industries
Amongst all of the foam glass applications, the building & industrial insulation segment is estimated to expand at a very rapid pace over the period of forecast. Both for commercial and non-commercial buildings foam glass serves as an outstanding material for insulation. Fire resistant nature of foam glass makes it ideal for usage in industries that are vulnerable to fire, such as petrochemical factories.
Foam glass also finds its application in civic constructions such as roadbeds, road embankments, and bridges as it is lightweight and moisture resistant. Thin-walled glass cells render foam glass easy to work with. Simple tools such as hand saw or saw blade can be used to cut it into any measurement.
And last but not the least, foam glass is an environment-friendly product. It can be recycled after generations of use as thermal insulation. It can be recycled as thermally insulating granulate or filler in landscaping.
Global Foam Glass Market: Geographical Analysis
Europe held the largest share in the global foam glass market, and this market dominance is likely to continue over the period of the forecast. European countries such as Sweden, Norway, and Germany are expected to take the lead for the foam glass market in the region. Rise in the demand for environment-friendly insulating materials across diverse end-use industries is forecasted to propel the regional foam glass market towards growth.
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