Wilmington, Delaware, Oct. 26, 2023 (GLOBE NEWSWIRE) -- 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 was valued at $11.10 billion in 2020, and is anticipated to generate $21.16 billion by 2030, witnessing a CAGR of 6.9% from 2021 to 2030.
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Major determinants of the market growth
The growth of the global insulating glass window market is driven by an increase in the global energy demand, surge in awareness about environmental sustainability, and decrease in energy and air conditioning costs. However, the high initial costs of insulating glass windows compared to normal windows and fluctuation in raw material prices restrict the market growth. On the contrary, government initiatives for energy efficient buildings are expected to offer lucrative opportunities for the market players in the near future.
The hot melt to portray the highest CAGR through 2030
Based on sealant type, 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. However, the hot melt segment is expected to witness the highest CAGR of 7.5% during the forecast period, owing to its advantageous properties including low viscosity, reasonable cost, and anti-sag characteristics.
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The double glazing segment held the lion's share
Based on type, the double glazing segment held the largest share in 2020, accounting for more than two-fifths of the global insulating glass window market. Moreover, this 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.
North America held the largest share
Based on region, the market across North America dominated the market 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 Asia-Pacific region is estimated to manifest the highest CAGR of 7.6% during the forecast period, owing to rapid technological growth in the developing countries.
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Major market players
- Central Glass Co., Ltd.
- Internorm International GmbH
- Saint Gobain SA
- AGC Inc.
- Glaston Corporation
- Viracon (US)
- Scheuten
- Nippon Sheet Glass Co. Ltd.
- Sika Industry
- H.B. Fuller
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