New York, NY -- (SBWIRE) -- 08/21/2018 -- The advanced glazing systems market is expected to witness substantial growth in the coming years due to rising energy prices and uncertainties about future energy supply. Advanced glazing systems have recently gained importance owing to their ability to enhance total building energy performance, thus creating good business opportunities for companies. Benefits of these systems include passive solar heat gain, electric lighting power reduction, and view. The restructuring and refocus of the current and future construction market would continue to work in the favor of the advanced glazing systems market. In the past, code mandated building energy requirements were moderate and the majority of insulated glass systems could meet these basic performance demands. However, the demand for green and/or high performance buildings that mandate energy efficiency beyond code minimums is definitively on the rise. In most cases, the total energy consumption in every building has to reduce by 15% to 40% and this can be achieved with the help of advanced glazing systems. The shift from new construction to retrofit construction activity is also fuelling the advanced glazing systems market. New buildings represent only a small share of the U.S. building market, while retrofitting provides a huge market opportunity for owners, green builders, and energy service provider companies. In the current scenario, energy-saving green buildings hold around 5% to 8% share of the retrofit and renovation market by value in the U.S. By the end of 2014, it is projected to become 20% to 30%. The American Recovery and Reinvestment Act (ARRA) is slated to substantially fund the renovation of federal buildings, which will further boost the market of advanced glazing systems. Several other firms, such as conventional window manufacturers and suppliers, metal companies, manufacturers of solar panels and solid-state lighting, firms would benefit from the growth of the advanced glazing systems market.
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On the basis of the end user type, the global advanced glazing systems market can be segmented into commercial buildings, industrial buildings, and residential buildings. Based on the technology used, this market can be categorized into dynamic glazing technologies, multi-functional advanced glazing systems, and next generation thermally insulated windows. Based on the materials, the global advanced glazing system can classified into sealants, polyethylene terephthalate (PET) and polyvinyl butyral (PVB), and specialist glasses.
In terms of geographic segmentation, North America and Europe dominate the global advanced glazing systems market owing to the increasing demand for green and zero-energy buildings in those regions. The U.S. represents the largest market for these systems, followed by Canada in North America. In Europe, France, Germany, Italy, Spain, and the U.K. hold major shares in the advanced glazing systems market. However, Asia Pacific is expected to exhibit a high growth rate in the next five years in the global advanced glazing systems market scenario.
Low construction costs, reduced noise levels, increased comfort and human productivity, availability of day lighting, and HVAC energy savings are some of the major driving forces propelling the growth of the advanced glazing systems market.
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Some major companies operating in the global advanced glazing systems market are Saint-Gobain, Alcoa, Bayer, Solar Innovations, Inc., and DuPont