Northbrook, IL — (SBWIRE) — 09/29/2021 — The report “Insulating Glass Window Market by Product Type, Glazing Type (double glazed, triple glazed), Spacer Type, Sealant Type (silicone, polysulfide, hot melt butyl, polyurethane), End-Use Industry, and Region – Global Forecast to 2026”, size was USD 12.0 billion in 2020 and is projected to reach USD 17.2 billion by 2026; it is expected to grow at a CAGR of 6.1% from 2021 to 2026, owing to the increasing demand for energy-efficient buildings in various regions.
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By product type, the gas-filled insulating glass segment is projected to grow at the highest CAGR during the forecast period
Gas-filled insulating glass segment is expected to grow at a faster rate during the forecast period of 2021 to 2026. The growth is due to the better insulation properties offered by gas-filled insulating glass compared to air-filled and vacuum insulating glass (VIG).
By sealant type, silicone dominated the insulating glass window market in 2020
The silicone sealant type dominated the insulating glass window market in 2020. Silicone sealants have a unique combination of organic and inorganic chemistries to form stable organic-like materials exhibiting excellent chemical structure and inherent properties. The increasing use of silicone as an air and moisture barrier in the insulating glass window market is driving silicone sealant demand in commercial buildings.
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By spacer type, plastic-metal hybrid warm edge spacer is expected to register the highest CAGR during the forecast period
The plastic-metal hybrid warm edge spacer is expected to register the highest CAGR during the forecast period due to its improving thermal performance. Also, plastic-metal hybrid warm edge spacers improve the aesthetic vision of insulated windows by improving sightlines.
Middle East & Africa is projected to grow at the highest CAGR during the forecast period
Middle East & Africa region is projected to show positive growth, especially in the commercial construction industry, due to factors such as government initiatives (Saudi Arabia’s Vision 2030), increasing urbanization, and industrialization. Also, the Middle East & African insulating glass window market is projected to witness high growth till 2022, mainly because of the upcoming infrastructural projects such as Expo 2020 (UAE) and the 2022 FIFA World Cup (Qatar).
The key market players include AGC Inc. (Japan), Central Glass Co., Ltd. (Japan), Compagnie de Saint-Gobain SA (France), Dymax (US), Glaston Corporation (Finland), Guardian Glass (US), H.B. Fuller Company (US), Henkel AG & Co. KGaA (Germany), Internorm (Austria), Scheuten (Netherlands), Nippon Sheet Glass Co., Ltd. (Japan), Sika AG (Switzerland), 3M (US), Viracon (US). These players have adopted product launches, acquisitions, expansions, agreements, contracts, partnerships, investments, collaborations, and divestments as their growth strategies.
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COVID-19 Impact on the global insulating glass window market
The pandemic is estimated to have an impact on various factors of the value chain of the insulating glass window market, which is expected to reflect during the forecast period, especially in the year 2020. The impact of COVID-19 is as follows:
In 2020, COVID-19 disrupted the global operations of the glass industry, with some companies being more exposed to the effects of shutdowns than others, resulting in them coming under severe financial pressure. The supply chain of insulating glass manufacturing was significantly disrupted in 2020. Various restrictions on cross-border movements as well as inside borders disrupted the supply chain of global insulating glass window market during 2020. A majority of the production plants for insulating glass windows have either been closed or were operating with limited capacity in Europe and North America during 2020. The insulating glass window market is mainly driven by the rising trend of energy-efficient building construction. Due to the COVID-19 pandemic, various building construction activities such as new and existing projects, onsite productivity, and contract value, were estimated to have slowed by 24% in 2020, when compared to 2019. However, there has been a rebound in activity during 2021.
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