Insulated Glass Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global insulating glass market 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.
Further key
findings from the report suggest:
- 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 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.
Access full
research report on global insulating glass market:
www.grandviewresearch.com/industry-analysis/insulated-glass-market
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Created on Oct 30th 2019 03:55. Viewed 278 times.