Vacuum Insulated Glass Market Growth, Share, Demand and Analysis of Key Players to 2026
The global vacuum insulated glass market for building & construction was valued more than US$ 4.5 Bn in 2017 and is anticipated to expand at a CAGR of more than 4% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled ‘Vacuum insulated glass for building & construction – Global industry analysis, size, share, growth, trends, and forecast, 2018–2026.’ Expansion in the global vacuum insulated glass market for building & construction is driven by the rise in demand for energy-efficient buildings, popularly known as green buildings.
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In terms of volume, the vacuum insulated glass market for building & construction in Asia Pacific is expected to expand at a CAGR of more than 5% during the forecast period. Implementation of strict government regulations on carbon emissions is likely to propel the vacuum insulated glass market for building & construction. Heating and cooling of buildings requires large amount of energy. The usage of insulated glass units is expected to significantly reduce the heating and cooling consumption and thereby lower CO2 emissions associated with it.
Rise in Demand for Windows, Which are used for Energy Conservation in Energy Efficient Buildings
In terms of application, the vacuum insulated glass market for building & construction can be classified into roof lights, windows, doors, roof glazing, glass façade, and others. The window segment is anticipated to constitute major share of the vacuum insulated glass market for building & construction, as it significantly slows down the process of conduction and convection. This ultimately reduces the cooling and heating energy consumption. Vacuum insulated glass is used for same purposes for doors as that for windows. Roof glazing is mostly used in malls and office terraces for the natural lights in daytime.
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The glass façade segment holds key share of the vacuum insulated glass market for building & construction, as glass facades are primarily used in commercial applications. Now-a-days, IT parks are mostly made of energy efficient glasses. Developing countries such as China, India, and Japan are expected to increase their use of vacuum insulated glass in the near future. Therefore, these regions are likely to fuel the expansion of the window segment.
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