Cellular Glass Market Size, Share & Trends Analysis Report By Product (Blocks & Shells, Sheets & Panels), By Application (Construction, Industrial), By Region, And Segment Forecasts, 2024 - 2030

Cellular Glass Market Size & Trends

The global cellular glass market size was estimated at USD 627 million in 2023 and is expected to grow at a CAGR of 2.6% from 2024 to 2030. The increasing focus on environmental sustainability is driving the demand for better insulation material. Cellular glass is widely preferred for its superior thermal insulation properties, which make it an ideal choice for reducing energy consumption in construction and industrial applications. The construction industry heavily relies on cellular glass insulation for a variety of purposes, including roofing, wall insulation, and foundation insulation. As a result, the material is expected to gain more popularity in the coming years. The U.S. is one of the largest markets for cellular glass in the world, and consumption is expected to increase due to fresh investments in the construction industry.

As per the U.S. federal economic data, construction spending reached a value of USD 1,978.7 billion in 2023, which represents a 7.0% increase from 2022. The U.S. Federal rate hikes starting May 2023 have resulted in softening inflation and stabilizing the U.S. dollar. Hence, real manufacturing construction spending has doubled since the end of 2021, and this growth is supported by supportive policy environments for manufacturing construction. The Inflation Reduction Act (IRA), CHIPS Act, and Infrastructure Investment and Jobs Act (IIJA) have been implemented to provide direct funding and tax incentives for both private and public construction.

The demand for cellular glass in the U.S. is attributed to the emphasis on sustainable construction and increased fire safety norms. This has been driving key manufacturers in the country to replace conventional insulation material with cellular glass. Since cellular glass is seen as energy efficient, its usage can help limit construction costs, especially considering the lifetime of a building. This is being actively marketed by industry players to replace conventional materials used in construction.

Market Concentration & Characteristics

The market is fragmented in nature, due to the presence of several mid-sized manufacturers. The industry has several prominent players like Owens Corning, Earthstone International LLC, and Geocell Schaumglas GmbH, along with several regional medium- and small-sized players operating in different parts of the world. These companies aim to expand their product portfolio and regional presence via new product launches, mergers & acquisitions, and joint ventures.

The global demand for cellular glass is driven by various factors, including the growing emphasis on sustainable construction, and stricter building codes, in terms of fire safety, industrial expansion, and urbanization. Economic situations, growth in industrial production, and commercial construction activities also influence product consumption in industrial and commercial applications.

Cellular glass is widely used in industrial settings for insulating pipes, tanks, and equipment in the chemical, petrochemical, and energy sectors. As industrial activities and infrastructure development expand, the demand for cellular glass insulation in these applications is anticipated to rise. As emerging economies continue to grow, there has been an increased focus on infrastructure development and industrial expansion, which, in turn, is expected to boost market growth.

Product Insights

The blocks & shells segment accounted for the highest revenue share of 67.4% in 2023. They are commonly used for insulation in walls, roofs, and floors. With its resistance to fire and moisture, cellular glass provides reliable insulation against fire and is being used in a variety of construction projects across the world.

Sheets and panels are commonly used for thermal insulation purposes in various industrial applications. Foam glass gravel, on the other hand, finds its use in a diverse range of applications, such as construction, civil engineering projects, and landscaping. It serves as the base aggregate for the construction of solid floors and also acts as an insulating aggregate for baseplates. Both these product types are environmentally sustainable, resilient, and made from 100% recycled glass.

Application Insights

On the basis of applications, the global industry has been further categorized into construction, industrial, chemical, and others. In 2023, the construction application segment held the largest share of over 47.0% of the global market revenue. The product is used as an insulating material in residential, commercial, and industrial buildings, and more importantly, for providing safety against fire.

The industrial application segment is expected to register a high growth rate, in terms of revenue, during the forecast period. It is increasingly being used in industries like oil & gas, chemical, and petrochemical for insulation purposes. Thus, rising investments in these applications are expected to positively impact the growth of the overall market.

Regional Insights

The cellular glass market in North America is one of the key markets for cellular glass; it holds around 23.4% of the global share. The product demand is primarily driven by increasing construction activities and the growth of the industrial and chemical industry in the U.S. and Canada.

U.S. Cellular Glass Market Trends

The U.S. cellular glass market held a revenue share of over 17.0% in 2023. This is mainly due to the introduction of more stringent building codes especially concerning fire safety norms, and the various government policies that have been introduced to boost economic growth and soften inflation.

Asia Pacific Cellular Glass Market Trends

The cellular glass market in Asia Pacific accounted for a share of about 30.0% in 2023. The growth is attributed to various government economic stimulus measures introduced across the region.

The India cellular glass market is expected to register the fastest CAGR from 2024 to 2030. The growth of the petrochemical industry and greenfield investments in the country are expected to propel product demand, thereby augmenting market growth.

The cellular glass market in China accounted for a share of 41.0% in 2023. Heavy investments and collaborations by the government to support the oil & gas industry are key drivers of the market growth.

Europe Cellular Glass Market Trends

The Europe cellular glass market held a revenue share of 34.8% in 2023. Several efforts undertaken by the EU government to boost economic activity and the emphasis on sustainable construction products were key drivers to market growth in the region.

The cellular glass market in Germany accounted for a share of around 32.0% in 2023. High adoption of green building standards and various investments in the industrial & chemical industries have been driving the regional market growth, as the government seeks to implement economic revival measures to boost manufacturing output in the country.

Central & South America Cellular Glass Market Trends

Central & South America cellular glass market held a revenue share of 9.0% in 2023. Rising investment in the construction of residential and commercial buildings is expected to drive the regional market growth.

The cellular glass market in Brazil holds the largest share of the Central & South America cellular glass market. Rising investment in tourism, manufacturing, and industrial construction is expected to propel product demand over the next few years.

Key Cellular Glass Company Insights

Some of the key players operating in the market include Owens Corning and Misapor AG.

• Owens Corning is a renowned name in the market. The company operates with an integrated business model that comprises three reportable segments: composites, insulation, and roofing. The insulation product line is primarily marketed to insulation installers, retailers, home centers, distributors, and lumberyards across the U.S., Canada, Europe, Asia Pacific, and Latin America

• Misapor AG is a company that produces and supplies construction materials worldwide. Their products include concrete and foam glass, which are used for various applications, such as thermal insulation, lightweight aggregates, roofing, wall-bag, drain-bag, slope reinforcement, and ground replacement

Polydross, S.A. and REFAGLASS S.R.O are some of the emerging market participants.

• POLYDROS, S.A. was established in 1961 and is a manufacturer of cellular glass products. It uses recycled glass as the main raw material and produces all its products under the UNE-EN-ISO 9001 quality norms

• REFAGLASS S.R.O was established in 2008 and is the largest producer of cellular glass in the Czech Republic with two production facilities

Recent Developments

• In May 2023, Schlüsselbauer and Reiling announced the merger of their German activities in the cellular glass sector. For this purpose, the joint company, Veriso GmbH & Co. KG, was founded with equal stakes from both parties

• In January 2023, Owens Corning introduced a new product, FOAMGLAS Perinsul SIB, in its portfolio. This is a thermal bridging solution for high-performance buildings

• In November 2022, Owens Corning ceased operations at its Santa Clara, California, U.S. facility for the production of insulation material. It completed the sale transaction with Amazon in the first quarter of 2023, mainly due to the slow growth rate of the residential housing market condition in the U.S. The company decided to focus on other plants to remain cost-efficient

Cellular Glass Market Report Scope

Global Cellular Glass Market Report Segmentation

This report forecasts revenue and volume growth at country and regional levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global cellular glass market report on the basis of product, application, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Blocks & Shells

  • Sheets & Panels

  • Foam Glass Gravels

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Construction

  • Industrial

  • Chemical

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • Italy

    • UK

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa