Use of Glass Insulation Increasing Rapidly in Construction Sector to Enhance Energy Efficiency and Meet Environmental Regulations
Rockville , Sept. 25, 2023 (GLOBE NEWSWIRE) -- As per a study done by skilled analysts at Fact.MR, a provider of market research and competitive intelligence, the global Glass Insulation Market is predicted to expand at a CAGR of 7.5% and reach a valuation of US$ 140 billion by the end of 2033. Thermal Insulation Glass Coating
Glass has become a favored material for enhancing thermal efficiency and solar infrastructure. Indoor temperature and air quality control devices are widely used in residential, commercial, and municipal facilities. Use of glass insulation has expanded into a wide range of commercial settings, including offices, hotels, and hospitals.
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To enhance energy efficiency and comply with various regulations related to eco-friendly construction, glass insulation is commonly employed in renovation projects. Low-emissivity (low-E) insulated glass is applied in homes to enhance passive solar heat retention and create a cozier indoor environment. Ongoing advancements are being made in the coating of this glass to enhance insulation, resulting in multifunctional glazing that offers benefits such as reduced maintenance, enhanced security, and noise reduction. The type of glass insulation varies with applications.
Laminated glass and double-section silicone-insulated glass are suitable choices for weather protection. The market has been expanding thanks to the growing demand for these glasses.
Key Takeaways from Market Study
The global market for glass insulation is valued at US$ 66.5 billion in 2023.
Worldwide demand for glass insulation is predicted to increase at a CAGR of 7.5% through 2033.
By the end of 2033, the market is projected to reach US$ 140 billion.
The market in Europe is forecasted to expand at a CAGR of 7.2% from 2023 to 2033.
Under material, use of double glazing is forecasted to rise at a CAGR of 7.5% through 2033.
Demand for silicone sealants is foreseen to advance at a CAGR of 6.5% from 2023 to 2033.
North America leads the global market and the market here is projected to expand at a CAGR of 6.5% through 2033.
Sales of glass insulation in the residential sector are projected to rise at a CAGR of 6.6% through 2033.
“Consumers are placing more emphasis on energy conservation in residential, public, and commercial buildings as a result of rising energy costs and growing environmental awareness, which is driving the expansion of the global glass insulation market. China, Japan, and India generate substantial demand for insulation glass. Enforcement of energy rules in buildings necessitates increased use of glass insulation,” says a Fact.MR analyst.
Key Segments of Glass Insulation Industry Research Report
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The need for glass insulation has increased as energy costs have gone up and environmental awareness has risen. Companies focus on releasing novel, technologically advanced products that are anticipated to encourage future market growth for industrial, non-residential, and residential sectors.
Rockwool, a Danish company, began commercial production at its new Ranson stone wool insulation factory in Jefferson County, West Virginia, in July 2021. It has fuel-flexible melting technology, allowing operations to transition from coal to natural gas. This is expected to reduce the plant’s CO2 emissions by 30%.
Numerous companies are dedicating their efforts to pioneering innovations and the advancement of glass insulation technologies. Their primary objective is to introduce novel products that embody improved energy efficiency, environmental sustainability, and enhanced overall performance.
Within the glass insulation market, a vibrant and competitive landscape unfolds, encompassing a diverse array of participants, including manufacturers, suppliers, and service providers. These entities engage in fierce competition, vying for market share through their product offerings, innovation prowess, pricing strategies, expansive distribution networks, and a strong market presence.
A notable milestone was achieved in July 2021 when Knauf Insulation, a key player in the industry, unveiled an updated packaging design. This revamped design not only showcases a commitment to environmental sustainability but also incorporates advancements in compression technology, elevating product efficiency. Furthermore, the refreshed product lineup aligns with evolving industry standards and offers enhanced environmental friendliness.
One distinctive feature of this innovation is the adoption of a comprehensive color-coded system. This system effectively highlights essential product attributes, such as the Euroclass A1 fire reactivity classification and the integration of Ecose Technology. The latter is a proprietary bio-based binder developed by Knauf Insulation. The clear differentiation facilitated by this color-coded system ensures ease of identification across the complete range of glass mineral wool products, guaranteeing uniformity in thermal conductivity groupings.
More Valuable Insights on Offer Fact.MR, in its new offering, presents an unbiased analysis of the global glass insulation market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on type (insulating glass units, cellular glass, glass wool), material (double glazing, triple glazing), sealant type (hot melt, polysulfide, PIB primary sealant, silicone), application (residential construction, industrial, non-residential construction, HVAC), and distribution channel (direct procurement, decor stores, glass stores, specialty stores, online stores), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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