Rising demand for insulating materials in various end-use applications and increasing technological innovations are key factors driving market revenue growth
The global Europe Foam Glass Market size is expected to reach USD 2.53 Billion in 2028 and register a revenue CAGR of 5.1% over the forecast period, according to the latest report by Reports and Data. High demand for foam glass from the petroleum industry and increasing construction activities are key factors driving market revenue growth.
Foam glass is a non-toxic and lightweight insulation materials that can be utilized in a variety of applications. It has excellent thermal insulation capabilities and does not react with most chemicals or other substances, and thus it does not degrade as quickly as traditional materials. Foam glass is also significantly more environmentally friendly than other insulating materials because it does not require nearly as much energy to manufacture. Foam glass is used to fire-proof petrochemical tanks, as well as insulate hot and cold tanks and chemical processing system pipes.
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Some Key Highlights from the Report
Closed cell segment accounted for the largest revenue share in 2020. Closed cell foam glass is used to insulate inner walls of commercial and residential buildings, as well as soundproof meeting rooms, roofs, floors, tank walls and bases, embankments, pipes, backfills, and roadbeds.
Cryogenic systems segment is expected to register a faster revenue growth rate over the forecast period. Cryogenic systems are used to transport and store gases, fluids, and other chemicals that need to be stored at extremely low temperatures. It has also been found to help in energy production such as solar power plants, by improving the efficiency of heat transfer fluid systems. Cryogenics has a wide variety of uses, including storing compounds such as sodium nitrite, which has a large impact on food preservation while allowing for greater flavor development with reduced salt levels.
Industrial segment is expected to register a rapid revenue growth rate over the forecast period. Foam glass is used in industries to fire-proof petrochemical tanks, as well as insulate hot and cold tanks, cryogenic tanks, and pipes in chemical processing systems. It is water-resistant, fire-resistant, corrosion-resistant, and capable of carrying a lot of weight.
Market in Europe accounted for a significant revenue share in 2020, owing to rising demand for environmentally friendly insulating materials in numerous end-use industries. Also, Europe's enormous population base makes it an appealing prospect for many businesses trying to expand their presence by offering new services, while also benefiting from the region's advanced infrastructure.
Some major companies profiled in the market report are Owens Corning, Zhejiang Dehe Insulation Technology Co., Ltd., Earthstone international, POLYDROS,S.A., Liaver GmbH & Co. KG, Stikloporas, Anglitemp Ltd, Sun Refractories, Refaglass, and ICM Glass Kaluga LLC.
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Market Segmentation:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Open Cell
- Closed Cell
- Black (Gray) Foam Glass
- White Foam Glass
- Others
Process Outlook (Revenue, USD Billion; 2018-2028)
- Physical
- Chemical
Application Outlook (Revenue, USD Billion; 2018-2028)
- Building & Industrial Insulation
- Chemical Processing Systems
- Cryogenic Systems
- Heat Transfer Fluid Systems
- Others
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Building & Construction
- Industrial
- Others
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Regional Outlook:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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