COVID-19 Impact on the Global Insulating Glass Window Market

The pandemic is estimated to have huge impact on various factors of the value chain of insulating glass windows, which is expected to reflect during the forecast period, especially in the year 2020-2021. The various impact of COVID-19 are as follows:

• Impact on components of insulating glass windows: The imposition of COVID-19 lockdowns across the world, leading to a decrease in the production of float glass. Hence the insulating glass window market is estimated to witness severe impact during 2020-2021. On March 30, 2020, Phoenicia, the only float glass manufacturer based in Israel, announced its decision to switch from being a glass manufacturer to be a glass trading company. Factors such as the COVID-19 outbreak, a lack of demand for float and laminated glass, and a drop in glass prices resulted in this decision. This could increase the dependence of Israel on the import of float glass for the manufacture of insulating glass windows in the future.
• Impact on raw materials used for manufacturing insulating glass window: Due to the impact of COVID-19, the raw materials required for glass manufacturing, which are mostly supplied from Europe to other economies, are seeing their supply impeded because of the multiplication of health checks inside European borders. This is expected to temporarily impact the production of insulating glass windows globally.
• Impact on end-use industries: The impact of the COVID-19 on the construction industry is estimated to vary in different regions across the world. The impact of COVID-19 on the construction industry is projected to vary in different regions across the world. IMF has predicted that there will be heavy layoffs in the construction sector and other industries in the US. In Europe, the building & construction industry is anticipated to contract by 60%–70% in 2020.

The global insulating glass window market is projected to grow from USD 12.8 billion in 2020 to USD 16.2 billion by 2025, at a CAGR of 4.8% from 2020 to 2025. The major reasons for the growth of the insulating glass window market include optimal energy saving performance of insulating glass windows, the growing construction industry in regions like the Middle East and Asia Pacific, and the rising demand for value added glass products are driving factors for growth of insulating glass window market.

Browse 116 market data Tables and 41 Figures spread through 187 Pages and in-depth TOC on “Insulating Glass Window Market by End Use (Residential & Commercial), Spacer Type (Aluminum, Stainless Steel, Intercept, 4SG Thermoplastic, & Others), Sealant (Silicone, Polysulfide, Polyurethane, Hot-melt Butyl, Others) and Region – Global Forecast to 2025”

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