February 28, 2024

Cloud Computing Is Fastest Growing Segment Fueling The Growth Of Foam Glass Market

Foam glass is a lightweight, green building material used in various applications such as thermal and chemical insulation, roof insulation, pipe coating, and structural panels. It has properties like low thermal conductivity, high compressive strength and chemical resistance which makes it suitable for these applications. Foam glass offers advantages over traditional building materials like stone wool and extruded polystyrene by providing higher load bearing capacity, resistance to moisture, and fire.

Market Overview:

Foam glass finds application in various industries including building & construction, industrial, and others. In building & construction industry, it is majorly used for roof and wall insulation owing to its high insulating properties.

Market key trends:

Growing cloud computing infrastructure is one of the key trends fueling the demand for foam glass market. Data centers require stringent temperature and humidity control to efficiently operate critical IT equipment and with increasing digitization, the number of data centers is growing exponentially worldwide. Foam glass offers several advantages for data center infrastructure like lightweight, thermal insulation, fire resistance and moisture resistance which makes it an ideal material for data center construction. Its high load bearing capacity also allows efficient use of space for server racks installation.

Segment Analysis
The global foam glass market is segmented based on product type, application, end-use industry and geography. By product type, block foam glass segment held the largest market share and is expected to remain dominant over the forecast period. Block foam glass offers advantages such as flame retardant and non-combustible properties which increases its use in various industrial construction applications.

Key Takeaways

The Global Foam Glass Market Demand is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing use in industrial and building & construction industries.

Regional analysis
Regionally, Asia Pacific accounted for the largest market share in 2021 owing to rising construction activities in emerging economies such as China and India. China dominates the regional as well as global foam glass market due to presence of huge construction industry in the country.

Key players
Key players operating in the foam glass market are Pittsburgh Corning, Glapor, Owens Corning, Polydros S.A., Misapor AG, Earthstone International, Refaglass, Zhejiang Zhenshen Insulation Technology Corp. The global foam glass market is highly competitive with major players focusing on new product launch and expansion to increase their market share. For instance, in 2022, Owens Corning launched next generation foam glass known as FOAMULAR NGX with enhanced thermal and mechanical properties.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it