LONDON, Jan. 19, 2017 /PRNewswire/ -- The global insulating glass market is expected to reach USD 4.26 billion by 2025, according to a new report by Grand View Research, Inc. The rising awareness about energy efficient buildings is expected to drive demand for insulating glass. Insulating glass is a special type of value added product which is installed to keep the environment warmer in winters and cooler during the summer season. The presence of two window panes in one unit aids in providing heat insulation.
The heat transfer by convection, radiation and conduction are decreased by the extra window and air void present in an insulated glass. Nowadays, manufacturers have developed insulation glass with advanced properties such as noise control and enhanced thermal insulation.
The rising demand for green buildings is expected to drive demand for the product. The energy efficiency provided by insulating glass is the major factor driving the demand for this product. The market is majorly concentrated in certain regions around the world. The demand for the product is high particularly in the developing economies of India and Thailand.
Further key findings from the report suggest
Non-residential construction is the largest application segment growing at a CAGR of 8.0% from 2016 to 2024. The demand in this application segment is expected to reach USD 1.65 billion by 2024.
Residential construction is the fastest growing segment in the market as is growing at a CAGR of 8.1%. The demand for reduced air conditioning costs is driving the demand for this product in residential application
The demand in Asia Pacific was USD 841.6 million in 2015, accounting for over 40$ of the overall market. Growing demand for the product in China and demand due to its superior properties as well as its ability to reduce air conditioning cost is likely to propel demand
The competitive environment is highly consolidated with a few major players dominating the industry. The industry is dominated by major flat glass manufacturers such as NSG (Pilkington), Saint-Gobain and Viracon.
The industry participants are engaged in rapid new product development to gain market share as the industry growth is still in its nascent stage. Saint-Gobain recently launched various products such as SGG Nano, SGG Antelio Plus, SGG Cool-Lite.
Read the full report: http://www.reportlinker.com/p04604983-summary/view-report.html
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