Attractive Opportunities for Players in the Foam Glass Market

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Foam Glass Market
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• Foam Glass Market by Type (open cell and Closed
  Cell), Process (Physical and Chemical),
  Application (Building Industrial Insulation and
  Chemical Processing Systems), End-Use Industry
  (Building Construction and Industrial) - Global
  Forecast to 2024
• The market size of foam glass is projected to
  grow from 1,503 kilotons in 2019 to 1,964
  kilotons by 2024, at a CAGR of 5.5 during the
  forecast period. Foam glass is an inorganic,
  permissible material made from recycled glass by
  annealing used glass and adding foaming agents to
  molten form.

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• It is used as an insulating material, and it
  offers excellent resistance against extreme
  temperatures, moisture, corrosion, and most
  chemicals. Among the insulating materials, foam
  glass has a higher resistance to fire than other
  insulating materials. Hence, these desirable
  properties make foam glass a suitable material
  for use in end-use industries such as industrial,
  building construction, pharmaceutical, and
  packaging, among others.

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• In the industrial segment, foam glass is used as
  an insulating material for applications such as
  bases of cryogenic tanks, maintenance of integral
  temperature in chemical processing systems,
  piping insulation, and providing safety against
  fire. It is fire-proof, moisture-proof, and has
  excellent corrosion resistance.The foam glass
  market in the industrial end-use is projected to
  grow at the fastest rate in the next five years.

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• Key Players
• The leading Foam glass manufacturers are Owens
  Corning (US), Zhejiang Dehe Insulation Technology
  Co., Ltd. (China), Zhejiang Zhenshen Insulation
  Technology Corp. (China), UUSIOAINES OY
  (Finland), Glapor (Germany), MISAPOR
  (Switzerland), Polydros S.A.(Spain), Refaglass
  (Czech Republic), Earthstone international (US),
  and Anhui Huichang New Material Co., Ltd.
  (China).These players adopted key growth
  strategies from 2014 to 2019, which helped them
  increase their capacities and cater to the
  widening customer base.

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• Recent Developments
• In June 2019, UUSIOAINES planned to acquire
  Hasopor AB, a Switzerland-based manufacturer of
  foam glass. The acquisition will make UUSIOAINES
  the leading foam glass manufacturer in Europe. 
• In June 2017, Owens Corning acquired Pittsburg
  Corning, a manufacturer of foam glass. This
  helped Owens Corning to expand its portfolio of
  product offerings. Pittsburg Corning operates as
  a subsidiary of Owens Corning with a presence in
  17 countries around the world and is a market
  leader for foam glass.