Global Insulating Glass Market to reach a market size of $27.4 billion by 2025
Insulating glass is a high-efficiency acoustic and thermal insulating glass made from two (or three) pieces of glass, using a high-strength, high-airtight composite binder to bond the glass pieces to an aluminum alloy frame containing a desiccant. The insulating glass market is segmented by material (glass, frames and seals, sealants), application (windows, doors, curtain walls), seals (less than 10 mm, 10 mm to 12 mm, greater than 12 mm) and region.
Insulating glass is used in windows, doors, curtain walls and other areas. Insulating glass is being promoted in both the building and infrastructure sectors. The demand for insulating glass is growing at a significant rate due to its energy-saving properties, which help reduce energy consumption.
However, the demand for insulating glass in the global New Crown Pneumonia pandemic is expected to decline sharply until 2021, after which it will show explosive growth. The global insulating glass market size is expected to grow from USD 21.4 billion in 2020 to USD 27.4 billion by 2025, at a CAGR of 5.0% during the forecast period.
Europe is the largest insulating glass market and the trend is expected to remain unchanged during the forecast period. Energy consumption, rising costs, requirements for legislative building compliance, and the need to manage greenhouse gas emissions are driving the growth of insulating glass products. Moreover, government initiatives for green buildings and energy efficient construction in making insulating glass a very prominent option among contractors is boosting the market growth in Europe.
However, the insulating glass market will face a sharp decline in 2020 as the new Crown Pneumonia will affect the European market, with the UK, Italy, France, and Spain being the most affected countries due to the closure of manufacturing facilities as well as the suspension of construction projects.
Over the past few years, companies have been strengthening their position in the global insulating glass market through expansion as a major strategy. From 2016 to 2019, strategic partnerships were the key strategy adopted by market players to sustain the growth of the global insulating glass market.
For instance, in July 2019, Clayton expanded its glass manufacturing capacity to become the largest glass plant in the UK. The company invested $1.7 million for this expansion and installed a new and third fully automated Bystronic insulating glass line.In October 2019, Clayton Corporation acquired the services, operations, and manufacturing capabilities of Nottinghamshire-based glass manufacturer GlobalGlass from Aperture Trading Limited. This acquisition has enabled Clayton to significantly increase its sales levels, manufacturing capabilities and geographic reach.
