The global insulating glass window market size was worth USD 11,871 million in 2021. It is expected to reach USD 21,160 million by 2030, growing at a CAGR of 6.9% during the forecast period (2022–2030). Two or more glass window panes separated by a gas-filled void or vacuum to lessen heat transfer in residential or non-residential spaces make up an insulating glass window. The global insulating glass windows market is expanding due to falling energy and air conditioning costs, rising sustainability awareness, and increasing energy demand worldwide. A significant factor in the expansion of the global market is the rise in the use of insulating glass windows, which help to prevent energy loss and lower energy costs. For instance, installing double or triple glazing windows can reduce warmth loss by up to 50% compared to windows without this glazing.
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Leaks and drafts in windows result in heat loss during winters and cool air during summer, which increases the electric bills. According to the Environmental Defense of Canada, the total greenhouse gas registered in Ontario consisted of almost 25% contribution from the equipment used for cooling, heating, and lighting of the buildings. This increases the carbon footprint and contributes to climate change. However, increasing awareness about environmental sustainability and solutions to minimize climate change has replaced existing windows. This, in turn, has boosted the need for insulating glass windows, thus contributing to the market growth.
According to the prediction of the US Energy Information Administration, world energy usage is expected to increase by 50% by 2050—Asia being the primary consumer. This rise in energy demand leads to an increase in commercial, industrial, and residential energy bills. Normal windows result in about 25–30% temperature loss, whereas insulating glass windows can save around 50% of this temperature loss. Therefore, an increase has been witnessed in the installation of the insulating glass window, which restricts the loss of energy and contributes to reducing energy bills. All these factors collectively are anticipated to augment the market's growth globally.
Some of the critical raw materials used by insulating glass window manufacturers include metal frames and glass. The prices of raw materials are substantially volatile, which, in turn, impact the price of insulating glass windows, affecting the manufacturer's profitability. For example, the surge in prices of silicon and other adhesives increases the cost of insulating glass windows, which is likely to negatively affect the sale of products in the market. Even if the manufacturer does not pass on the increased price, this will affect the company's profitability.
Furthermore, key material suppliers are large enterprises that have the power to pass on their higher commodity costs, which leads to an increase in the prices of materials, thereby increasing the input prices. Therefore, the fluctuation in prices of raw materials is anticipated to hamper the market's growth.
An increase has been witnessed in demand for the installation of energy-efficient solutions, owing to a surge in the requirement for energy. However, the installation of these energy-efficient solutions is supposed to be costly. The government has taken some initiatives to boost the adoption of energy-efficient solutions to overcome this issue. Depending on the state or operating areas, authorized government bodies have started to give tax incentives, rebates, and loans for certified products. This encourages the purchase of qualified windows by customers. For instance, the Environmental Defense of Canada offered an incentive of USD 500 per window up to USD 5000 to customers installing completely new windows with the Energy Star symbol. Moreover, such initiatives by the government are expected to create lucrative growth potential for the insulating glass window market expansion during the projected period.
The global insulating glass window market share is segmented by type, sealant type, end-user, and region.
By type, the global insulating glass window market is categorized into Double Glazing, Triple Glazing, and Others.
Double Glazing is the highest shareholder and is estimated to grow at a CAGR of 7.5% during the forecast period. It is further classified into Awning, Casement, Double-Hung, Fixed, Hopper, and Sliding. Double glazing windows offer airtight construction that forms thermal insulation, which blocks the flow of incoming and outgoing heat or air. The energy used to cool down or heat the space is less, which results in lower electricity bills. The air between two panes and an airtight seal results in less condensation on the surface of windows. Additionally, double-glazed windows are better sound-insulated than single glazed. Furthermore, incorporating advanced technology such as composites and coatings in the glass material, which is suitable for all adverse temperature conditions, boosts the demand for double glazing energy-efficient windows, thereby contributing to the market growth.
The Triple Glazing segment is further classified into the Awning, Casement, Double-Hung, and Fixed. Triple glazed windows offer airtight construction that forms thermal insulation, which blocks the flow of incoming and outgoing heat or air. The condensation on the surface of the windows is significantly less due to the air between the three panes and the airtight seal. Triple glazing windows also save up to 50% of the temperature loss from normal windows.
By sealant type, the global insulating glass window market is categorized into Hot Melt, PIB Primary Sealants, Polysulfide, and Silicone.
Silicone Sealant is the highest shareholder and is estimated to grow at a CAGR of 6.6% during the forecast period. Silicone sealants offer structural integrity for heavy and large glass components, propelling their global demand. In addition, the density of silicone sealants is about 1.44. Hence, silicone sealant is cheaper per unit than other sealants. It does not deteriorate when exposed to ultraviolet rays from the sun. Moreover, factors such as superior aesthetic finish, high durability, ability to withstand high & low temperatures, robust insulation, water-repelling properties, low chemical reactivity, and enhanced thermal stability are expected to offer lucrative growth opportunities for the market players.
Hot Melt Sealant is the fastest growing. A building sealant called hot melt butyl insulates glass because it has beneficial qualities such as easy gunnability at low temperatures, low viscosity, affordable price, and anti-sag features. The need for hot melt butyl sealant for insulated glass is further fueled by the industries of food processing and automobiles, both of which are expanding quickly. Additionally, the market players should anticipate benefits from the increased focus on the windows' durability and visual appeal. Hot melt butyl sealant sales are further boosted by enhanced physical characteristics and features, including weather resistance, low maintenance requirements, and anti-rust.
PIB Primary Sealants are the third-largest shareholder. An increase has been witnessed in the implementation of PIB primary sealant, owing to its flexibility over an extensive operating temperature range, high ultraviolet resistance, high temperatures, enhanced adhesion on glass & composite films, and extremely low moisture & gas permeability. Moreover, significant expenditure on glass installed on windows due to improved adhesion properties and easy manufacturing process fuels the market growth. In addition, PIB primary sealant glass is most efficient in trapping the heat outside or inside the window. For instance, South Africa-based windows and doors manufacturer Rehau launched a new design in November 2019, SKY FORCE, which can be combined with French glass windows. Thus, advanced material used in glass boosts the growth of the market.
By end-user, the global insulating glass window market is categorized into Residential and Non-Residential.
The Residential segment dominates the market and is estimated to grow at a CAGR of 6.6% during the forecast period. It is further divided into new construction and replacement & renovation. In insulating glass windows, residential windows are used in personal houses or societies. All types of operating windows—awning, casement, double-hung, and sliding—can be installed for residential applications. Awning, casement, and sliding are the most commonly preferred types for residential buildings. The rise in population and awareness of insulating glass windows led to increased construction of residential buildings, boosting the insulating glass window market. In addition, casement, sliding, or fixed type windows are cheap and affordable for customers. Moreover, these windows help save 10–15% on electricity bills, which acts as a potential opportunity for the market. Furthermore, advancements in designs and technologies are preferred by customers, which make enhances the aesthetics of living space, thereby fueling the market growth.
The Non-Residential segment is the fastest growing. An increase has been witnessed in the installation of insulating glass windows in non-residential infrastructures. Thus, insulating glass windows over normal windows in non-residential infrastructures reduces the temperature loss through windows. Furthermore, insulating glass windows save a considerable amount spent on electricity bills. In addition, some windows, such as double and triple glazing, help in noise mitigation. These are the primary factors that drive the insulating glass window market growth.
By region, the global insulating glass window market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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North America holds the highest market share and is predicted to grow at a CAGR of 6.5% during the forecast period. Since insulating glass windows are widely used in North America, leading manufacturers of those windows concentrate their efforts there. Many businesses, including Andersen Corporation, Jeld-Wen Holding, Inc., Marvin, Masco Corporation, PGT Innovation, Inc., and Cornerstone Building Brands, manufacture insulating glass windows in the United States. For various end customers in North America, these producers seek to offer a wide selection of insulating glass windows and service & sales support, which helps the market expand. Intense R&D in the field of energy results from an increase in the installation of insulating glass windows. In addition, many new manufacturing plants are being set up. Several showrooms are located in major cities to reach a large customer base and physically display the products, thus propelling the market growth.
Asia-Pacific is the fastest-growing region. Australia holds a significant share of the insulating glass window market in terms of consumption and manufacturing. Due to the rapid development of technology, developing nations like Taiwan, Singapore, Hong Kong, and India have been identified as potential markets. AGC Inc., Central Glass Co. Ltd., and YKK Corporation are a few of the major companies active in the Asian market. These players are working to establish manufacturing facilities in the insulating glass window market to increase production rates and supply the Asian construction sectors, both residential and commercial. Furthermore, according to the report published in 2021 by the Asia Development bank based in the Philippines, the Asian economy grew by 7.3% in 2021 and is projected to grow significantly until 2025. This influences the overall growth of construction and manufacturing facilities in the region.
Europe is the second-largest region and is projected to reach USD 6,560 million, growing at a CAGR of 7.3% during the forecast period. Governments have enforced stringent laws in Europe regarding environmental conservation. Hence, companies are innovating equipment to reduce the usage of nonrenewable energy resources. Furthermore, highly efficient equipment is being developed to restrict the expenditure on the operation of the building spaces. Hence, insulating glass windows have increased, as it has become more efficient in terms of durability and performance-oriented. In addition, the major players such as Deceuninck Group, VKR Holdings A/S, and Rehau are headquartered in Europe, which positively affects the growth of the insulating glass window market in the region.