The insulating glass window market 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. The increasing demand for energy-efficient buildings in various regions is expected to drive the growth of this market. The commercial segment accounted for the largest share of the insulating glass window market in 2020, owing to the increasing rate of commercial building construction in the countries such as the US, Germany, China, and India.
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.
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By sealant type, silicone segment is expected to lead the insulating glass window market during 2021 to 2026
Silicone sealants are widely used for glass bonding in insulating glass windows as they have the ability to bond materials together with enormous power or exceptional lightness and are designed for both permanent and temporary adhesion applications. Various properties of silicone, such as high elongation, high-temperature resistance, durability, and others are expected to drive this segment.
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).
The key market players include 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), Internorm (Austria), Scheuten (Netherlands), Nippon Sheet Glass Co., Ltd. (Japan), Sika AG (Switzerland), 3M (US), Viracon (US). These players have adopted product launches, acquisitions, expansions, agreements, contracts, partnerships, investments, collaborations, and divestments as their growth strategies.
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