The insulation properties depend on the chemical composition of the glass. With recycled glass, the chemical composition is not fully under control and therefore they limit the amount of recycled glass.
Production of cellular glass (also called foam glass) requires, even with recycled glass, a lot of energy. That makes it one of the most expensive inorganic insulation materials.
It also has some extreme insulation properties: it doesn't look like it really absorbs or lets through any moisture or air. There might be cases where that isn't ideal.
But living on the fourth floor of an old building with central heating in the basement does make me wish all the pipes were insulated with that material instead - it's absurd to have to wait many minutes for warm water to come out of the tap or shower because so much heat is lost along the way.
> Sound-absorbing Foamglas® insulation is more than 50% open cell bubbles, and heat-insulating Foamglas® is more than 75% closed-cell air bubbles, which can be adjusted according to the requirements of use through changes in production technical parameters.
https://www.owenscorning.com/corporate/sustainability/produc...