The global market size of foam glass is projected to grow from 1,424 kilotons in 2018 to 1,964 kilotons by 2024, at a compound annual growth rate (CAGR) of 5.5% during the forecast period. The major driving factor for the market is the use of foam glass as an alternative insulating material in the industrial segment as it exhibits superior properties than other insulating materials. The market is also driven by the growing demand for lightweight, high-temperature-resistant materials in the building and construction and industrial segments.
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).
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Owens Corning is a leading producer of foam glass. The company produces foam glass under its insulation segment. It has a global presence, which includes North America, Europe, and APAC. The company operates in three core segments - roofing, insulation, and composites. It supplies foam glass through its insulation segment under the name, Foamglas. The company operates through 29 manufacturing facilities for composites, 35 manufacturing facilities for insulation, and 35 facilities for roofing.
UUSIOAINES OY was established in 1995. It is headquartered at Forssa, Finland. The company sells foam glass under the brand name, Foamit, which is made from 99% recycled glass. The Foam glass Aggregates (FGA) is a lightweight aggregate used for construction projects. It has applications in retaining walls and backfills, service yard construction, road and street construction, and other such applications. It is offered in 5 different sizes. It is used in floor insulation and frost insulation of roads. It is also used to prevent groundwater pollution by insulating fields. The company generates 50.0% of its revenues through exports, with Finland, Scandinavian countries, and Western Europe as the key markets.
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
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