A recent market intelligence study by Transparency Market Research (TMR) says that the state of the vacuum insulated glass (VIG) market, which was previously fueled by the demand for sound-proof and aesthetic designs, is continuing that trend while gaining traction through the increased interest of real estate companies.
The study predicts that the global VIG market would expand at a compound annual growth rate of 4.2% over the period between 2018 and 2026. Furthermore, it is projected to accumulate outstanding revenues by the end of the forecast period. The value of this market stood at $4.5 billion in 2017 with a major chunk of revenues flowing in from the residential sector, according to TMR.
Highlighting several trends in the commercial and residential VIG market, the study goes into detail about an increased interest in recreating ancient architectural designs and how those innovations will influence the market. Residential trends in architecture have led to the increase in use of glass ceilings and walls, according to the study.
Even though this market began to gain traction in the commercial sector, the study suggests an increase throughout the residential sector.