The global insulated glass market size is expected to reach USD 4.26 billion by 2025, according to a new report by Grand View Research, Inc. The rising awareness about energy efficient buildings is expected to drive demand for insulating glass. Insulating glass is a special type of value added product which is installed to keep the environment warmer in winters and cooler during the summer season. The presence of two window panes in one unit aids in providing heat insulation.
The heat transfer by convection, radiation and conduction are decreased by the extra window and air void present in an insulated glass. Nowadays, manufacturers have developed insulation glass with advanced properties such as noise control and enhanced thermal insulation.
The rising demand for green buildings is expected to drive demand for the product. The energy efficiency provided by insulating glass is the major factor driving the demand for this product. The market is majorly concentrated in certain regions around the world. The demand for the product is high particularly in the developing economies of India and Thailand.
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Insulated Glass Market Report Highlights
• Non-residential construction is the largest application segment growing at a CAGR of 8.0% from 2016 to 2024. The demand in this application segment is expected to reach USD 1.65 billion by 2024.
• Residential construction is the fastest growing segment in the insulated glass market as is growing at a CAGR of 8.1%. The demand for reduced air conditioning costs is driving the demand for this product in residential application
• The demand in Asia Pacific was USD 841.6 million in 2015, accounting for over 40% of the overall market. Growing demand for the product in China and demand due to its superior properties as well as its ability to reduce air conditioning cost is likely to propel demand
• The competitive environment is highly consolidated with a few major players dominating the industry. The industry is dominated by major flat glass manufacturers such as NSG (Pilkington), Saint-Gobain and Viracon.
• The industry participants are engaged in rapid new product development to gain market share as the industry growth is still in its nascent stage. Saint-Gobain recently launched various products such as SGG Nano, SGG Antelio Plus, SGG Cool-Lite.
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Insulated Glass Market Segmentation
Grand View Research has segmented the global insulating glass market on the basis of application and region:
Insulating Glass Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)
• Non-residential construction
• Residential construction
Insulating Glass Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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Browse More Related Report:
Flat Glass Market Size, Share & Trends Analysis Report By Application (Architectural, Automotive), By Product (Insulated, Laminated, Tempered), By Region (APAC, Europe), And Segment Forecasts, 2021 – 2028
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
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