Insulating Glass Window Market to Reach $21.16 Bn, Globally, by 2030 at 6.9% CAGR: Allied Market Research

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Jul 26, 2021, 09:00 ET

PORTLAND, Ore., July 26, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Insulating Glass Window Market by Glazing Type (Double Glazing, Triple Glazing, and Others), Sealant Type (Hot Melt, PIB Primary Sealants, Polysulfide, and Silicone), and End User (Residential and Nonresidential): Global Opportunity Analysis and Industry Forecast, 2021-2030". As per the report, the global insulating glass window industry generated $11.10 billion in 2020, and is expected to reach $21.16 billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030.

Major determinants of the market growth

Rise in the global energy demand, surge in awareness about environmental sustainability, and decrease in energy and air conditioning costs have boosted the growth of the global insulating glass window market. However, high initial costs of insulating glass window compared to normal windows and fluctuation in raw material prices hinder the market growth. On the contrary, government initiatives for energy efficient buildings are expected to create lucrative opportunities for the market players in the future.

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Covid-19 scenario:

The Covid-19 outbreak affected the demand for insulating glass windows due to lockdown regulations imposed by the government and delay in manufacturing and production of insulating glass windows.
The prolonged lockdown resulted in disruption in the supply chain and increased the prices of raw materials.
Moreover, the pandemic delayed the installation and maintenance activities.

The double glazing segment held the lion's share

By type, the double glazing segment dominated the market in 2020, accounting for more than two-fifths of the global insulating glass window market. Moreover, the segment is expected to register the highest CAGR of 7.5% during the forecast period, as double glazing windows offer better sound insulation than the single glazed.

The hot melt to portray the highest CAGR through 2030

By sealant type, the hot melt segment is highest CAGR of 7.5% during the forecast period, owing to its advantageous properties including low viscosity, reasonable cost, and anti-sag characteristics. However, the silicone segment held the lion's share of the global insulating glass window market in 2020, contributing to nearly two-fifths of the market, as it offers structural integrity for heavy and large glass components.

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North America held the largest share

By region, the market across North America held the largest share in 2020, accounting for more than one-third of the global insulating glass window market, due to high adoption rate of insulating glass window and increase in R&D activities by energy companies in the region. However, the market across Asia-Pacific is estimated to manifest the highest CAGR of 7.6% during the forecast period, owing to rapid technological growth in the developing countries.

Major market players

AGC Inc.
Glaston Corporation
Central Glass Co., Ltd.
Internorm International GmbH
Saint Gobain SA
Nippon Sheet Glass Co. Ltd.
Sika Industry
H.B. Fuller
Viracon (US)
Scheuten

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