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Covid-19 Impact Analysis on Cellular Glass Market

 

Cellular Glass Market: Overview

·         Cellular glass, also known as foam glass, is a glass foam material, which is formed from a reaction between glass and carbon at high temperature. Foam glass has a cellular structure. Cellular glass or foam glass is insulation composed of glass, processed to form a rigid foam with a predominantly closed-cell structure. It is lightweight, rigid material composed of millions of completely sealed glass cells. Each cell is an insulation entity; it is independent of the other cells surrounding it.

·         Cellular glass or foam glass insulation is 100% glass and contains no binders or fillers. It does not absorb flammable liquids or vapors. Cellular glass or foam glass insulation can help contain or suppress fire if it does take place.

Growth in Building & Construction Industry to Drive Global Cellular Glass Market

·         Building insulation is any object in a building used as insulation for any purpose. Majority of insulation in buildings is for thermal purposes. Increase in population is driving the construction industry. Construction can be residential as well as nonresidential. Rise in demand for new construction has boosted the demand for cellular glass products. The cellular glass market is expected to be driven by increase in residential maintenance activities. Home owners are interested in investing more in the upkeep of their floors, walls, and roofing. This trend is anticipated to propel the global cellular glass market.

·         Expansion in the construction industry is estimated to boost the cellular glass market, as people are increasingly getting inclined toward energy saving processes. Growth in population and increase in numbers of nuclear families in Asia Pacific are driving the construction industry in the region.

Applications of Cellular Glass

·         Cellular glass insulation is a lightweight, rigid, and durable material composed of completely sealed glass cells. It is non-combustible, and provides superior compressive strength, moisture resistance, dimensional stability, and long lasting thermal performance. A wide range of shapes and sizes are available for building, equipment, and industrial specifications.

·         Cellular glass is specifically designed for building and roofing applications for insulation purposes. It provides unparalleled performance vis-à-vis any other building insulation.

·         Cellular glass also provides thermal performance and protection for a number of applications such as low temperature pipes, equipment, tanks and vessels, medium and high temperature pipes and equipment, hot oil and hot asphalt storage tanks, heat transfer fluid systems, chemical processing systems, above and below ground steam, chilled water pipes, and commercial and ductwork pipe work

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North America to Hold Major Share of Global Cellular Glass Market

·         In terms of region, the global cellular glass market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         In terms of value, Asia Pacific dominated the global cellular glass market in 2019. This can be ascribed to the growth in the construction sector in developing countries such China and India in the region.

·         North America and Europe cumulatively accounted for large share of the global cellular glass market in 2019. According to the U.S. Department of Energy, heating and cooling costs amount to 50% to 70% of the energy used in an average home in the U.S. The U.S. Government is promoting the usage of cellular foams in order to bring down these costs, maintain uniform temperature, and lower noise levels in houses and commercial properties.

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Key Players Operating in Global Market

·         The global cellular glass market is fragmented, with market players focusing on incorporating advanced technologies to gain higher market share. These players offer a complete portfolio of products and focus on different business strategies to strengthen their market position.

·         In June, 2017, Owens Corning announced that it had received all regulatory clearances and completed the acquisition of Pittsburgh Corning, the world’s leading producer of cellular glass insulation systems for commercial and industrial markets, for approximately US$ 560 Mn in cash, on a cash free and debt free basis

Key players operating in the global cellular glass market include:

·         Owens Corning

·         Cnud Efco

·         Misapor AG

·         POLYDROS,S.A.

·         REFAGLASS s.r.o.

·         Zhejiang Zhenshen Thermal Technology Co., Ltd.

·         Zhejiang Dehe Insulation Technology Co., Ltd.

·         Uusioaines Oy

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