Post Time：Nov 27,2020Classify:Industry NewsView：955
The global double glazing glass market size is projected to grow from USD 21.4 billion in 2020 to USD 27.4 billion by 2025, at a CAGR of 5.0% between 2020 and 2025.
Double glazing glass is extensively used in industrial, residential, and commercial industries and generates heavy consumption for the construction & infrastructure sector. Double-glazing units (DGU) often called insulating units to improve thermal performance, thereby significantly reducing heating and air-conditioning costs. These units are used prominently in curtain walls of high-rise buildings, commercial and residential windows, doors, and storefronts.
However, global pandemic disease COVID-19 has forced the construction & infrastructure giants to shut down their operations, which is expected to reduce the demand for double glazing glass in 2020.
The commercial segment to dominate the market in terms of value.
The commercial segment dominated the double glazing glass market. Lower internal reflection, lower U-value (thermal transmittance) & solar factor along with superior light transmission makes double glazing unit an ideal choice for infrastructure projects. Double glazing glass is used in a wide range of applications in the commercial industry, including commercial complexes, workspaces, hospitals, hotels, educational & medical institutions.
Facade application to dominate the market in terms of value.
Facade application holds the majority of the market share in the double glazing glass market. This higher usage is primarily driven by the increased spending in construction across Asian countries, including China and India. Furthermore, reducing energy consumption has become a prominent priority; as a result, companies are preferring insulating glazed units further cost-cutting in electricity.
Glass holds the major revenue market share.
Glass holds the majority of the market in the double glazing glass market. Glass with different thicknesses is used as per the application in the industrial, residential, and commercial sectors. Major manufacturers of glass, such as Nippon Sheet Glass (Japan), AGC Inc. (Japan), and Saint-Gobain (France), offer a large range of glass along with different coatings to manufacture insulated glazing unit across the globe.
APAC is the fastest-growing double glazing glass, in terms of volume.
APAC is projected to be the fastest-growing double glazing glass market during the forecast period. APAC is an emerging region and has significant potential to grow in the double glazing glass market. The region is set to witness infrastructure and construction boom in the coming five years with a healthy spread of projects shared between commercial, residential, and industrial. However, COVID-19 pandemic has severely affected the overall growth of the construction industry.
Small enterprises are suffering due to insufficient cash flow. The deadly virus has led to production facilities being temporarily shut down, and the demand is expected to drop in 2020. Interrupted raw material supply chains and delay in construction projects has further affected the double-glazing glass market.
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Source: https://www.businesswire.com/Author: shangyi
