A recent study by Triton Market Research titled ‘Global Cellular Glass Market’ entails the Global Analysis and Forecasts by Product Type (Foam Glass, Gravel Blocks & Shells), Type (Open Glass, Closed Glass), Application (Industrial, Construction, Others) and by Regional Outlook (Asia-Pacific, North America, Middle East and Africa, Latin America, Europe).
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Triton’s report shows that the global cellular glass market would develop at a CAGR of 5.10% in terms of revenue during the forecast period from 2021 to 2028, garnering a revenue of $678.87 million by 2028.
Cellular glass showcases a high load-bearing capability, which makes it a suitable insulating material for constructing tank bases to store cryogenic fluids. The block form of cellular glass is also used as a thermal insulation material for storing oxygen, ethylene, LNG, and nitrogen. These factors have majorly enhanced the demand for cellular glass, which is benefitting the market growth.
On the other hand, there are some factors due to which the growth of this market is being hindered. For instance, the inhalation of fumes produced by cellular glass causes irritation and dryness to the mucous membrane. Also, the combustion of cellular glass leads to carbon monoxide and hydrogen sulfide gases being formed. Hence, such health risks associated with the use of cellular glass are majorly restraining the growth of the market.
The cellular glass market is broadly divided into product type, type, and application. The product type segment is sectioned into foam glass and gravel blocks & shells. Similarly, the type segment is divided into open glass and closed glass. Whereas, based on application, it is categorized into industrial, construction, and others.
The Asia-Pacific is presently the largest market for cellular glass, all over the globe. Cellular glass manufactured using municipal waste is adopted on a large scale for use as an additive in cement mortar. The APAC has been generating huge amounts of municipal waste, and its disposal is a time-consuming and high-cost-incurring process. Therefore, this waste is being used to manufacture cellular glass in the region, which is aiding the growth of the Asia-Pacific market.
Zhejiang Dehe Insulation Technology Co Ltd, SZECO Insulation Technology Co Ltd, Pinosklo, Zhejiang Zhenshen Insulation Technology Corp Ltd, Langfang Chaochen Thermal Insulation Materials Co Ltd, Jahan Ayegh Pars Co, Glapor Werk Mitterteich GmbH, Polydros Sociedad Anonima (SA), Owens Corning, Aeroaggregates Of North America LLC, Amity Insulation Group Inc, German Geo Construction GmbH, and Benarx are major competitors in the cellular glass market.
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Question & Answer: Cellular Glass Market
Question 1: What factors have majorly enhanced the demand for cellular glass?
Answer: Cellular glass showcases a high load-bearing capability, which makes it a suitable insulating material for constructing tank bases to store cryogenic fluids. The block form of cellular glass is also used as a thermal insulation material for storing oxygen, ethylene, LNG, and nitrogen. These factors have majorly enhanced the demand for cellular glass, which is benefitting the market growth.
Question 2: What factors are restraining the growth of the cellular glass market?
Answer: There are some factors due to which the growth of this market is being hindered. For instance, the inhalation of fumes produced by cellular glass causes irritation and dryness to the mucous membrane. Also, the combustion of cellular glass leads to carbon monoxide and hydrogen sulfide gases being formed. Hence, such health risks associated with the use of cellular glass are majorly restraining the growth of the market.
Question 3: Which is the largest market for cellular glass, globally?
Answer: The Asia-Pacific is presently the largest market for cellular glass, all over the globe. Cellular glass manufactured using municipal waste is adopted on a large scale for use as an additive in cement mortar. The APAC has been generating huge amounts of municipal waste, and its disposal is a time-consuming and high-cost-incurring process. Therefore, this waste is being used to manufacture cellular glass in the region, which is aiding the growth of the Asia-Pacific market.
Question 4: Which are the major competitors in the cellular glass market?
Answer: Zhejiang Dehe Insulation Technology Co Ltd, SZECO Insulation Technology Co Ltd, Pinosklo, Zhejiang Zhenshen Insulation Technology Corp Ltd, Langfang Chaochen Thermal Insulation Materials Co Ltd, Jahan Ayegh Pars Co, Glapor Werk Mitterteich GmbH, Polydros Sociedad Anonima (SA), Owens Corning, Aeroaggregates Of North America LLC, Amity Insulation Group Inc, German Geo Construction GmbH, and Benarx are major competitors in the cellular glass market.
Related Report:
The global advanced glass market is likely to progress with a CAGR of 5.14% over the forecast years 2019-2028. The industry is also forecasted to grow by volume, with a CAGR of 4.36%, in this period.
Several TV and mobile device manufacturers are equipping their products with OLED display technology, as it provides aesthetic and efficient lighting panels. Flexible OLED is the next-gen technology that holds the potential to enable curving and folding these displays on applications. With the rapid increase in smartphone adoption across the world, the demand for ultra-high-definition displays is also rising at a fast rate.
Several companies like Apple and Samsung have already employed AMOLED displays in some of their flagship models, and other market players are now following suit. Also, in 2019, Samsung had launched its Galaxy Fold smartphone, which can be folded to half its size. Using a flexible OLED panel for foldable phones has already gained popularity, and other companies in the market are expected to launch their foldable smartphone ranges in the near future. All these factors are raising the demand for advanced glass, which is expected to have a positive impact on the studied market.
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