Albany, NY -- (SBWire) -- 04/26/2019 --The global vacuum insulated glass market for building & construction is expected to expand at a moderate pace driven by the increase in demand for the glass in the energy-efficient building industry. The vacuum insulated glass market for building & construction was valued more than US$ 4.5 Bn in 2017 and is projected to expand at a CAGR of more than 4% during the forecast period. Implementation of stringent government laws regarding carbon emissions and rise in demand for green buildings are boosting the vacuum insulated glass market for building and construction. Heating and cooling devices used indoors release harmful gases such as carbon dioxide in the environment. Vacuum insulated glass is highly stable and non-reactive to the ambient environment. It is an alternative energy source for light and temperature stability. Vacuum insulated glass is a prominent building material that helps save energy. However, the presence of just a few key players and fragmentation of the vacuum insulated glass market are likely to hamper the demand for vacuum insulated glass.
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Key players operating in the vacuum insulated glass market need to focus on the promotion of the benefits of vacuum insulated glass. Rise in usage of vacuum insulated glass in the building sector is estimated to boost the vacuum insulated glass market.
Major players in the market are expanding their network through mergers and acquisitions. Launch of new products and facilities is likely to propel the vacuum insulated glass market. On July 4, 2017, Panasonic Corporation completed the acquisition of 69% share of Ficosa International S.A., a Spain-based automotive parts & systems supplier. This move would help the company strengthen its position in the automotive industry. In February 2018, AGC Inc., decided to raise the sales price of architectural glass related products in Japan. The scheduled price increases are roughly 10% to 15% for flat glass products, 10% for mirror products, and 10% for architectural applications. In April 2016, Nippon's product Spacia Cool vacuum glazing was used for new windows of the Fukuoka City Hall in Southern Japan. Spacia Cool is a high-heat-insulation type of Spacia. It reduces solar heat gain, offering excellent energy-saving performance throughout the year. The product is used for lowering the room temperature and saving energy in residential and non-residential buildings.
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Vacuum insulated glass is used in various applications such as roof lights, windows, doors, roof glazing, and glass façade. Vacuum insulated glass windows are used in buildings, as the glass avoids 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 primarily used in malls and office terraces for natural lights in daytime. It also provides with the free environment and also avoid suffocation. Glass façades are primarily used in commercial applications of green buildings. IT parks are mostly made of energy efficient glasses. Glass façade made up of vacuum insulated glass preserves heat, uses solar radiation, and insulates sound. The usage of vacuum insulated glass is anticipated to rise in developing countries such as China, India, and Japan in the near future.
Vacuum Insulated Glass Market for Building & Construction to Expand at a CAGR of 4.20% over 2018-2026 with Development of Smart Cities