Press release
Insulating Glass Market based On, Price Analysis, Supply Chain Analysis, Porters Five Force Analysis – Forecast to 2030
Insulating Glass Market
The global Insulating Glass Market was valued at USD 2.23 billion in 2018 and is expected to register a CAGR of around 8.4% during the forecast period, 2019–2030. Insulated glass, also known as insulating glass units, is a sealed combination of two or more glasses that are separated by a space filled with dry air and desiccant for absorbing moisture. Besides air, noble gases such as argon or krypton are also used as insulating airspace. Insulating glass primarily helps reduce heat transfer through the glass. It is fabricated in a way to control energy transfer from outside to inside. This helps meet two different requirements, keeping heat in during colder weather and keeping heat out in warm weather. Moreover, it saves energy, maintains the comfort inside the building, and reduces pollution.
Factors such as energy-saving characteristics, reduced costs incurred in energy consumption, and reduced pollution are expected to drive the global insulating glass market during the forecast period. Rising demand for green buildings is also augmenting the growth of the product market largely. In addition, increasing residential construction sector is further anticipated to boost the market growth. Furthermore, growing R&D investments in developing insulated glass with advanced properties, such as enhanced thermal insulation and noise control, is likely to create lucrative opportunities for the players operating in the global insulating glass market.
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However, high costs of raw materials such as desiccant, spacer, and inert gases increase the overall cost of the product, which might restrict the growth of the global market during the forecast period. Raw material costs account for 20–22% of the total production costs. Soda ash, which is the prime constituent of glass, is expensive and is primarily found in China. Thus, high import costs and dependence on soda ash further hamper the market growth in North America and Europe.
Key Players
Some of the key players operating in the global Insulating Glass Market are SAINT-GOBAIN (France), Viracon (US), GUARDIAN GLASS LLC. (US), Nippon Sheet Glass Co., Ltd. (Japan), Vitro Architectural Glass (US), Strathclyde Insulating Glass Ltd (UK), ECO Insulating Glass Inc. (Canada), JE Berkowitz (US), Ittihad Insulating Glass Company (Jordan), BYSTRONIC GLASS (Germany), and Cardinal Glass Industries, Inc. (US).
Market Segmentation
The global insulating glass market has been segmented based on product type, application, and region.
Based on the product type, the global insulating glass market has been segmented into double glazed insulating units, triple glazed insulating units, and others.
Based on application, the global insulating glass market has been segmented into residential, commercial, and industrial.
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Regional Analysis
The Global Insulating Glass Market has been cataloged into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and Middle East & Africa.
Asia-Pacific dominated the market with a share of more than 40% in 2018. It is projected to register a robust CAGR in the coming years owing to the growing residential and non-residential construction activities due to rapid industrialization and urbanization in the region. China is dominating the regional market due to its fast-growing construction industry and the growing awareness of energy-efficient buildings. India, Japan, Thailand, Indonesia, and South Korea are other prominent regional contributors.
North American held the second-largest share of the market in 2018 due to the rising awareness regarding green buildings. In addition to this, the increasing number of hurricanes and tornadoes in the coastal states of the US has increased the number of installations of insulating glass units in the region. The non-residential sectors are also showcasing a strong demand for insulating glass in the region for increasing building efficiency. The US is a major contributor to regional market growth. The stringent regulations pertaining to building codes are supporting the growth of the product market in the region.
The market in Europe held a significant market share in 2018 and is estimated to grow at a moderate CAGR during the review period. This is attributed to the increasing population coupled with the cold climate in the region. Germany is the prominent insulating glass market in the region, followed by Russia, France, Italy, Spain, among others. The regulatory pressure regarding building efficiency is contributing to the growth of the product market in the region.
The Latin American market is projected to register a steady growth rate during the forecast period. This growth can be attributed to the growing residential and commercial construction in emerging economies such as Brazil, Mexico, and Argentina.
The Middle East & Africa held the least market share in 2018. The region is estimated to witness a healthy CAGR during the forecast period. The growing infrastructural construction projects in the GCC countries to drive the tourism industry is expected to support the growth of the insulating glass market in the region.
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