Global Insulated Glass Market – Snowballing Demand for Green Buildings Drives Growth | Technavio

LONDON–(BUSINESS WIRE)–#GlassandCeramics–The global
insulated glass market is expected to grow at a CAGR of close to 8%
during the period 2017-2021, according to a new market research study by Technavio.

The report presents a detailed analysis of the global insulated glass
market by application, including non-residential, residential, and
industrial. The report also determines the geographic breakdown of the
market in terms of detailed analysis and impact, which includes key
geographies such as APAC, the Americas, Europe, and ROW.

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Market driver: increasing demand for green buildings

The rising number of green buildings in Europe and APAC is driving the
demand for insulated
glass. Increasing awareness about the positive impact of green
buildings on human health and environment has led to improvisations in
insulated glass. Green buildings are widely preferred as they do not
cause harm to health and help to reduce the impact on the environment.

“Insulated glass is used in the exteriors and interiors of buildings
as it improves thermal resistance and reduces the consumption of
electric energy by allowing natural light. Green buildings can withstand
diverse climatic conditions and varying temperatures. Increasing
investments in the construction of green buildings will have a positive
impact on the global insulated glass market,” says Kurva Samba
Sivudu, a lead analyst at Technavio for glass
and ceramics research.

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Market trend: rising demand for residential construction

The global insulated
glass market by the residential construction segment is growing
significantly because of increased disposable incomes, urbanization, and
ever-rising population. Emerging countries such as China and India
exhibit a high demand for residential construction because of improving
economic conditions. Rising focus on aesthetics, temperature control,
and noise reduction in residential constructions has increased the
demand for insulated glasses. In addition, growing emphasis on
energy-efficient buildings is further driving the global insulated glass
market.

Market challenge: fluctuation in the price of raw materials

Raw materials used for manufacturing insulated glass account for around
20%-22% of the total production cost and are primarily found in China.
Soda ash is the most expensive raw material used to produce insulated
glass. Fluctuations in soda ash prices pose a challenge to the
procurement process. Huge dependence on soda ash increases the
production costs. Though China is the key producer of soda ash, the
Americas and Europe have increased efforts to produce soda ash to meet
the rising demand in insulated glass industries.

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Key vendors in the market

• Cardinal Glass Industries
• Guardian Industries
• Nippon Sheet Glass
• Saint-Gobain
• Viracon

The global insulated glass market is expected to grow at a moderate rate
during the forecast period. The market is moderately concentrated due to
intense competition among the few well-established global vendors. Key
vendors account for a majority of the market share. The production of
insulated glass is primarily concentrated in APAC, especially in China,
because of the easy availability of raw materials. The rising population
has led to a significant growth in the construction industry, which has
increased the demand for insulated glass.

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