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.
Some of the prominent key players are:
· 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)
Opportunity: Growing trend of lightweight vehicles to drive market growth
With the increasing global concern on climate change and energy security, automobile manufacturers are facing increasing pressure to improve fuel efficiency on their fleet. Automobile manufacturers are turning to aluminum and composite materials as a building platform for vehicles. Both aluminum and composite materials are more expensive than steel. Therefore, the automobile industry are also looking at areas where they can use adhesive tapes instead of rivets and bolts to reduce costs. Structural adhesive tapes are engineered for multi-material bonding and joining and are the excellent adhesive solution for lightweight and high-performance designs.
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.
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).
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