The global market is projected to reach USD 58.71 Billion by 2021, at a CAGR of 7.6% from 2016, according to the “Glass Insulation Market by Type (Insulating Glass Unit, Glass Wool, Cellular Glass), Application (Non-Residential Construction, Residential Construction, Industrial, HVAC), and Region – Global Forecast to 2021” report, published by MarketsandMarkets.
Leading players such as Owens Corning (U.S.), Nippon Sheet Glass Co., Ltd. (Japan), and Johns Manville (U.S.) are focused on entering new markets by launching technologically advanced and innovative products for non-residential construction, residential construction, and industrial applications, which is expected to drive the growth of the market in the near future.
The insulating glass units segment held the largest share of the global glass insulation market. This segment of the glass insulation market is expected to witness significant growth in the coming years. Growing concerns about the environment, especially in countries such as China and India, will lead to the growth of this segment in these countries. Governments of European countries are also supporting the development of energy-efficient green buildings.
Non-residential construction application held the largest share of the global glass insulation market, and is expected to witness significant growth in coming years. Insulation helps non-residential buildings in reducing heating & cooling loads, managing indoor climate temperature, reducing noise pollution, and hence creating a more environmentally sustainable building. Growth in this segment has been fueled by changes in building codes for increased energy efficiency.
The Asia-Pacific region was the largest market for glass insulation in 2015, owing to the increasing demand for glass insulation products in developing economies, such as India and China. China is the leading consumer of glass insulation products in the Asia-Pacific region.
Companies in this region are investing in developing cost-competitive glass insulation products. The extensive growth and innovation, along with industry consolidations, is expected to drive the growth of the Asia-Pacific glass insulation market.
Key players operating in the glass insulation market include Owens Corning (U.S.), Nippon Sheet Glass Co. Ltd. (Japan), Johns Manville (U.S.), Knauf Insulation (U.S.), PPG Industries, Inc. (U.S.), Certain Teed Corporation (U.S.), and others.
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