KEY FINDINGS
The global cellular glass market is forecasted to grow with a CAGR of 4.45% during the estimated period of 2021 to 2028. The increasing demand for cellular glass for load-bearing applications, as well as the rising preference for cellular glass in building and construction, are among the key factors accredited to the growth of the market.
MARKET INSIGHTS
Cellular glass insulation is characterized as a stiff, lightweight, and sturdy material comprising completely sealed glass cells. The material is non-combustible and provides enhanced compressive strength, dimensional permanence, humidity resistance, and prolonged thermal performance. Cellular glass is a widely utilized material in industrial and construction applications, as well. In addition to mainstream industries, the material’s usage across various other applications like insulation of low temperate piping, ethylene plant piping, oxygen circulation pipes, and severe fluctuating temperature range pipes is anticipated to deliver lucrative growth opportunities over the upcoming years.
Cellular glass is highly preferred as an insulating material in fireproof panels in buildings, critical enclosures, and green roof insulation since it is air and vapor tight, non-combustible, and also reduces humidity accumulation risk. Multiple other types of cellular glasses, such as positive roofs, inverted roofs, and inclined roofs, are extensively used in flower plantation fields as insulating materials in building exteriors. As a result, this aspect significantly contributes to the global cellular glass market growth.
REGIONAL INSIGHTS
The global cellular glass market growth assessment is evaluated across Europe, the Asia-Pacific, Europe, and the Rest of World. The Asia-Pacific held the highest market share in 2020. The region’s market growth is fueled by the increased use of cellular glass as an alternative to polymer foams on account of its long service life and reduced impact on the environment. However, the strict lockdowns and social distancing norms owing to the COVID-19 pandemic have considerably disrupted the construction sector in South as well as South-East Asia.
COMPETITIVE INSIGHTS
Several leading players in the market provide various products at different pricing strategies. Moreover, consumers have a moderate inclination towards shifting to other companies’ products. While the transition is not easy, firms upgrade their products in order to sustain their customers. Conversely, the intense aggressiveness of firms results in a robust force that substantially impacts the industry environment. Some of the key enterprises operating in the market are Amity Insulation Group Inc, Zhejiang Zhenshen Insulation Technology Corp Ltd, Langfang Chaochem Thermal Insulation Materials Co Ltd, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments