Advanced Glazing Systems Preview

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The goal of this report is to quantify and analyze the market opportunity for advanced glazing systems over the next eight years, and it builds on industry analysis that NanoMarkets has carried out in other building products markets such as BIPV and solid-state lighting where "sustainability" and energy efficiency are key. NanoMarkets has been covering such markets for around six years now.

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Advanced Glazing Systems Preview

  1. 1. NanoMarkets Report Advanced Glazing Systems Markets – 2012 Nano-571Published Oct. 2012
  2. 2. Advanced Glazing Systems Markets—2012According to building engineers, backed up by the evidence of infrared photography,the vast majority of energy loss in buildings is through windows. In an era of rising Page | 1real energy prices and uncertainties about future energy supply NanoMarketsbelieves that a fast growing market for advanced glazing systems can be expectedand that this will create profitable business opportunities for a wide variety ofcompanies. In this new report, NanoMarkets has identified where these opportunitiescan be found and how much they will be worth. The report covers the full range ofhigh-performance windows systems that provide thermal, visual and IR managementusing the latest materials:  In this report, firms in the windows/glazing industry will find a comprehensive product roadmap for advanced glazing systems showing how windows products will evolve from the latest generation of highly insulated windows, through the incorporation of various dynamic glass (aka smart windows) technologies, and then on to systems with embedded solar and lighting functionality. Included in the analysis in this report is an examination of some of the high performance insulated windows and dynamic glass windows products that are already on the market.  Because of the huge potential addressable market for high-tech windows and the fact that they are likely to use novel materials, this report also includes a comprehensive discussion and forecast of how materials needs will change in the glazing systems market over the next eight years and how materials and chemical firms can benefit from these changes. Among the materials covered will be smart materials, photoactive materials, glasses, plastics, framing materials, sealants, gasses, desiccants, etc.  NanoMarkets also believes that this report will also be of considerable interest to both the solar panel industry and the solid-state lighting industry. Firms active in these industries will learn from this report how they can tap into the expected rapid growth of advanced glazing systems. In particular, we show how new opportunities will emerge for building-integrated photovoltaics (BIPV) companies and OLED firms to make money by implanting PV and lighting layers into high-performance windows products.This report will also bring considerable insights to corporate planners throughout thebuilding products and construction industries as well as architects and sophisticatedinvestors. As with all NanoMarkets reports, this report contains detailed eight-yearforecasts of the markets analyzed in this report in both value ($ millions) and volume(area) terms. Forecast breakouts are by end-user type, technology, materials usedand geography. In addition, the report contains a thorough analysis of theproduct/market strategies of the leading firms currently active in the advancedglazing space. And both giant firms—such as Alcoa, Saint-Gobain and Bayer—and thelatest startups are included in the coverage.
  3. 3. TABLE OF CONTENTSExecutive Summary Page | 2E.1 Summary of Key Drivers for Advanced Glazing SystemsE.2 Technology Roadmap for Advanced Glazing SystemsE.2.1 The Coming Together of Advanced Glazing Systems with Smart Windows, SolarPanels and LightingE.3 Opportunity Analysis for Advanced Glazing SystemsE.3.1 Opportunities for the Windows/Glazing SectorE.3.2 Opportunities for Materials FirmsE.4 Firms to Watch in the Advanced Glazing SectorE.5 Summary of Eight-Year ForecastsChapter One Introduction1.1 Background to this Report1.2 Objective and Scope of this Report1.3 Methodology and Information Sources1.4 Plan of this ReportChapter Two: Advanced Glazing System Products and Technologies2.1 Advance Glazing Systems and Smart Windows: Two Related But Different Opportunities2.2 Next-Generation Thermally Insulated Windows2.3 Dynamic Glazing Technologies2.3.1 Dynamic Thermal Control2.3.2 Dynamic Vision Control2.3.3 Advanced IR Control2.4 Future Integration Directions for Advanced Glazing Systems2.4.1 Impact of Building-Integrated Photovoltaics (BIPV) on Smart Glazing Systems2.4.2 Integrating Smart Lighting into Advanced Glazing Systems2.5 Materials for Advanced Glazing Systems2.5.1 Specialist Glasses2.5.2 Polymers: PET and PVB2.5.3 Sealants2.6 Key Takeaways from this ChapterChapter Three: Markets and Market Forecasts for Advanced Glazing Systems3.1 Key Functional Drivers for Advanced Glazing Systems3.1.1 HVAC Energy Savings3.1.2 Daylighting3.1.3 Lowering Construction Costs/Complexity and Maintenance Costs3.1.4 Noise Reduction3.1.5 Increased Comfort and Human Productivity3.2 Advanced Glazing Systems in "Green" and Zero-Energy Buildings3.2.1 Eight-Year Forecasts of Advanced Glazing Systems for Commercial Buildings3.2.2 Eight-Year Forecasts of Advanced Glazing Systems for Industrial Buildings3.2.3 Eight-Year Forecasts of Advanced Glazing Systems for Multi-Tenant ResidentialBuildings
  4. 4. 3.2.4 Eight-Year Forecasts of Advanced Glazing Systems for Single-Family ResidentialBuildings3.3 Eight-Year Forecasts of Advanced Glazing Systems by Technology3.3.1 Next-Generation Thermally Insulated Windows3.3.2 Dynamic Glazing Technologies3.3.3 Multi-functional Advanced Glazing Systems Page | 33.4 Eight-Year Forecasts by Geographical Region3.5 Summary of Eight-Year Forecasts of Advanced Glazing System Markets3.6 Eight-Year Forecasts of Materials for Advanced Glazing Systems3.7 Key Takeaways from this ChapterRELATED REPORTSSmart Windows Markets 2012BIPV Glass Markets -2012Transparent Conductor Markets 2012Markets for ESD and Antistatic Protection Materials in Electronics
  5. 5. Chapter One: Introduction1.1 Background to this ReportAccording to building engineers, backed up by the evidence of infrared photography, the vastmajority of energy loss in buildings is through windows. This general point has been understood Page | 4 thfor a long time; the first double-glazed window was designed in the 19 Century. Double-glazedwindows were widely adopted in the 1950s and 1960s and these older types of systems are nowso widely used that they could never reasonably be called "advanced" glazing systems; they arefar too close to being ubiquitous. 1.1.1 Why Double Glazing Isnt Boring AnymoreDouble glazing shipments worldwide are worth billions of dollars annually. But growth of thistraditional business is slow (this is especially so given the woes of the construction industry) andone would never identify it as an opportunity per se; that is, no one would suggest that "doubleglazing" is a business that people should jump into as a way of making big money. It has been atleast 30 years since someone could seriously make such a claim. In one trade press article thatNanoMarkets retrieved as part of the research for this report, the double glazing industry wasportrayed as "boring," which seems to NanoMarkets to be a fairly reasonable characterization ofthe glazing industry considered as a whole.But in the past few years—perhaps as long as five years—there are signs that the double-glazingbusiness has started to become much less boring. What we are seeing—or at least beginning tosee—is this sector begin to clearly transcend the "double glazing" name or even the (moregeneral) "insulated glazing" name. There seems to be a new business emerging that is moredeserving of the name "advanced glazing systems," a name that seems to capture the sense ofnovel technologies playing an important role.What has happened here seems to us to be much more than a shift in industry semantics broughtabout by changing times and marketing approaches. Instead, we are talking a real shift indirection brought about by changing demand patterns and novel technologies. Such a change issurely deserving of a new name; so surely the "advanced glazing systems" epithet is a good oneto use. 1.1.2 On Demand, Technology and Advanced Glazing SystemsOn the demand side of the equation, the changes that we are talking about are pretty muchcommon knowledge. For a number of reasons, energy has become more valuable and thereforeways of conserving energy themselves have a higher value:  Advanced glazing systems seem to be a way to conserve energy and in a high-priced energy environment they take on growing commercial significance and appear to address larger markets  Although related in part to the growing cost of energy mentioned above, NanoMarkets believes that the market for advanced glazing systems is also getting a boost from a more general societal environment in developed countries where a significant part of the population is concerned about "environmentalism," in a general sense.
  6. 6.  Advanced glazing systems stand to benefit from this meme because they can be marketed as meeting the psychological needs associated with "environmentalism," and because (more objectively) they fit round with the growing number of building codes and standards that have emerged/are emerging built around environmentalist and energy saving needs. Page | 5These new demand patterns that NanoMarkets has identified are accompanied by importanttechnological developments too. As we have suggested above, the new highly insulated glazingsystems that were described at the beginning of this account are sufficiently different from moreconventional windows product to consider them a new kind of product.But the likely technological evolution of advanced glazing systems, NanoMarkets believes, seemslikely to go well beyond simply a radical performance improvement to include a much higher levelof functionality for advanced glazing systems. These new directions will succeed, NanoMarketsbelieves, because they are very much in tune with the demand patterns we have alreadyexplained.Among the technological patterns in the advanced glazing systems business are the ones that arediscussed below.Incorporation of smart windows concepts into advanced glazing systems: In this contextsmart windows are usually referred to as "dynamic glazing." And a shift to dynamic glazing isalready beginning to be noticeable, at least in the sense that this idea is receiving a lot of attentionin glazing industry trade magazines and at high-profile trade shows.Apart from the fact that not many construction firms and architects have yet been sold onadvanced glazing systems, this technology is not all that mature. However, dynamic glazingtechnologies are improving and add a new dimension of both thermal and lighting control to theadvanced glazing concept.BIPV integration into advanced glazing systems: Similarly drawing on the latest developmentsand materials used in BIPV and incorporating them into advanced glazing systems seems like anintelligent product design move for the future. BIPV could power dynamic glazing or be used as amore general power source for the building thereby better enabling zero-energy buildings. Thebuilding owner, manager or occupant would also benefit from the economies of integration implicitin this kind of integration.One might think that BIPV integration into advanced glazing systems might occur before theincorporation of dynamic glass. BIPV glass is a relatively mature technology that is beingsupported by stable firms, some of which are quite large. Nonetheless, NanoMarkets has yet tosee much commercial activity in this space, beyond some stirring in the BIPV community.Lighting integration into advanced glazing systems: A similar trend is possible for lighting;that is to say in the future we may see lighting built into windows, which might, for example,become panel lights at night and more conventional windows during the day. More complexarrangements that let in some light while artificial lighting is also used are also possible. And, ofcourse, the lighting involved in such arrangements could be on the inside or outside of thebuilding or both.
  7. 7. Of all the possible technological trends that we discuss here, this suggestion is probably the mostspeculative, because the technology to accomplish it is not really with us yet. OLEDs—givenbetter encapsulation—may serve quite well in the future in an advanced glazing system into whichlighting has been built, but the technology has some way to go before it could work well in acommercial window/lighting panel such as that described above. Page | 6Building management systems and advanced glazing systems: Although it seems unlikely tohappen fast, we also believe that some money will be made along the way by integrating activeglazing systems into building energy management systems of various kinds:  Building energy management systems have been around for years, but have never really taken off to the degree that was once anticipated. However, there are some recent signs that this may be beginning to change under much the same influences that we have identified for advanced glazing systems themselves. If active/smart glazing systems begin to take off in the marketplace, then it is reasonable to assume that building management systems will quickly be interfaced to them.  Lighting management systems—sometimes called smart lighting systems—are another type of control system that may be interfaced to active glazing systems where lighting is an emphasized functionality of such systems.We have yet to see any real trends towards building energy or lighting management systemsincorporating the management of active glazing systems, but this would seem to be inevitable ifadvanced glazing systems of this kind start to be widely used. 1.1.3 Who Will Profit from Advanced Glazing Systems MarketIn other words, what NanoMarkets believes is going to happen over the next few years is thatadvanced glazing will take on more functionalities and that in doing so, "advanced glazing" as aproduct category will come to overlap with a number of other product categories and markets. InExhibit 1-1 we summarize the opportunities available to various players in the advanced glazingspace.
  8. 8. Exhibit 1-1: Opportunities Available to Major Players in the Advanced Glazing SystemsType of Firm OpportunityConventional window Opportunity to generate new business revenues in a down market.suppliers Highly insulated windows seems like the most immediate opportunitiesMaterials suppliers Novel technologies that form part of advanced glazing systems Page | 7 evolution need a broad range of new materials ranging from metals to smart materials of various kinds. If advanced glazing systems take off as expected, high volumes of these newer materials can be expected to be consumedSolar panel firms and SSL It makes sense for firms in the SSL and solar panel industry to keepfirms a "watching brief" on the advanced glazing sector, since their products may ultimately be incorporated into advanced glazing systems. However, this opportunity is not an immediate oneArchitects and construction Advanced glazing systems may be used as one component offirms market strategy designed to sell potential owners and occupants on the idea that particular buildings are energy efficient and have good daylighting© NanoMarkets 2012Conventional window manufacturers and suppliers: All of the developments leading to newkinds of glazing systems are likely to benefit firms involved in the conventional windows industryand this is especially important at a time when the construction industry is in a slump worldwide.Today, fast growing opportunities for building products are not that easy to find.The important issue here is whether conventional windows firms are able to capture high marginson advanced glazing systems and whether volumes are sufficient to make a significant differenceto these firms bottom lines. We dont know the answer to that yet for sure, nor do we know howwell such firms will evolve their product strategies from the latest generation of highly insulatedwindows, through the incorporation of various dynamic glass (a.k.a. smart windows) technologies,and then on to systems with embedded solar and lighting functionality.Materials suppliers: Since the competitive stance of the advanced glazing systems and theproducts that it supplies depends heavily on new materials, NanoMarkets sees the emergence ofa distinct advanced glazing systems market as being important to a broad range of materials-oriented firms. These firms are expected to include:  Metals companies that are involved in creating value-added products for window frames. Another group that will benefit will be firms that can supply improved, glass, gases, sealants, plastics, framing materials, desiccants, etc.; materials that are used in conventional glazing systems, but possibly of a new and improved kind.  However, we think that it will not just be the traditional suppliers of windows materials that will benefit from the rise of advanced glazing products. Companies that manufacture active materials that are not usually used in advanced glazing systems—materials such as PV absorbers layer material, electrochromic materials, etc. These will be used in advanced glazing systems that provide functionality well beyond what one normally
  9. 9. associate with windows. While this trend has yet to have much impact we think that it will be an important revenue producer in the next two to three years.Solar panel and solid-state lighting firms: NanoMarkets also believes that increasingly thekind of advanced glazing systems that we have discussed above will become of growing interestto both the solar panel industry and (a bit later) to the solid-state lighting industry. Firms active in Page | 8these industries will have the opportunity to tap into the expected rapid growth of advancedglazing systems. In particular, in this area, it seems likely that new opportunities will emerge forBIPV companies and OLED firms to make money by implanting PV and lighting layers into high-performance windows products.Service provider beneficiaries: Service provider firms that NanoMarkets expects to see benefitfrom the appearance on the market of more advanced glazing system products includeconstruction firms and architects. Both of these groups could use of advanced glazing systems tomarket buildings to future owners, managers and occupants. Energy efficiency and enhancedcomfort are proven winners in marketing to these groups.1.2 Objective and Scope of this ReportThe goal of this report is to quantify and analyze the market opportunity for advanced glazingsystems over the next eight years, and it builds on industry analysis that NanoMarkets has carriedout in other building products markets such as BIPV and solid-state lighting where "sustainability"and energy efficiency are key. NanoMarkets has been covering such markets for around sixyears now."Advanced glazing systems" is a concept that does not have a strict definition, although we notethat it is sometimes construed fairly narrowly to include just highly insulated glazing units (IGUs).However, in this report, we have taken the term to mean something broader than that and toinclude (1) active glazing products and (2) futuristic multi-functional windows, in our definition.Item (2) is something of a catch-all category since most of the products that logically belong in thiscategory do not yet exist. Within each of these categories, we have examined what differingproduct and materials strategies would mean for the scale and evolution of market opportunities.With regard to end-user markets, those that we discuss most extensively are commercial andindustrial buildings, especially the latter. Most of the windows systems we consider here are high-performance and high-priced systems that are designed for large buildings, so this is where mostof the revenues in the advanced glazing systems market are likely to be earned in the next eightyears. In fact, it is specifically the commercial sector that is likely to see most of advanced glazingsystems market, because industrial buildings often have a minimal number of windows;sometimes none at all.This is not to say that NanoMarkets sees no opportunities for advanced glazing systems in theresidential sector and we do include some discussion on residential markets, especially multi-tenant residential buildings which have important business characteristics in common withcommercial buildings from the perspective of a glazing providerSeveral issues are not the focus of the report:  We do not have much to say about the windows industry as a whole. As a highly mature sector, it operates under entirely different economics than the markets that are the main
  10. 10. focus of this report. In particular, we dont have that much to say about the conventional double-glazing industry, beyond acknowledging that this is the industry from which the highly insulated glazing units that are discussed in this report are emerging.  Much of this report is taken up with discussions of how certain new energy-efficiency technologies will be integrated into glazing systems over the next decade. However, Page | 9 these technologies—BIPV, OLEDs, building management systems, and so on—are not discussed in any depth. NanoMarkets has other reports that look into these technologies and in these reports, NanoMarkets pulls out the full range of opportunities related to them.This report is worldwide in its scope. However, throughout this report, we discuss the differencesamong regional and national markets.  In particular, we have given some emphasis to European markets for advanced glazing systems, since the rules, regulations and building codes in Europe are very friendly to the kinds of products considered in this report.  Other reasons for focusing to some extent on regional or national differences is that regulatory factors and conditions in the construction industry can vary quite a lot from place to place, not to mention taste/architectural factors of importance to the windows business. Obviously, space does not allow full coverage of matters as complex as regulation and national construction markets. Rather, we try to point out the impact of general trends in important/regions and countries.As with all novel building technologies, the economics of including advanced glazing systems arebetter with new construction than with retrofits, we discuss both opportunities in the main body ofthis report. We also assess the current strategies of firms already pursuing the advanced glazingsystems as well as likely entrants.And as with all NanoMarkets reports, this report contains granular eight-year forecasts in bothsquare meters and dollar terms of advanced glazing systems markets, with breakouts by enduser, type of product and type of advanced glazing technology.1.3 Methodology and Information SourcesThe information for this work is derived from a variety of sources, but comes from both primaryand secondary sources:  As far as the former goes, NanoMarkets has carried out extensive interviewing of business development managers and technologists involved with most of the products and markets considered in this report. In particular, NanoMarkets has an ongoing program of interviewing executives in the general area of efficient and environmentally friendly lighting and building materials  As with other NanoMarkets reports, we have also drawn on important secondary resources for information. These include technical literature, relevant company Web sites, trade journals, government resources, and various collateral items from trade shows and conferences.
  11. 11.  Some of the material in this report has also been taken from earlier NanoMarkets reports, including our reports on PV, BIPV, smart windows and (to a limited extent) we have also taken it from some of our OLED lighting and glass industry reports, in other words from NanoMarkets reports that address advanced building materials in one form or another. However, where information has been used from an earlier report, it has been reinvestigated, reanalyzed, and reconsidered in light of current developments and Page | 10 updated accordingly.The forecasting approach taken in this report is explained in more detail in Chapter Three, but thebasic approach taken here is to identify and quantify the underlying needs and markets that areserved by BIPV walling products; consider the specifics of the applications and the types ofproducts available or under development; and assess the competitive landscape to determine thesuitability and likely volume of each of the BIPV types over the next eight years.The stated plans of the key firms in the advanced glazing systems market are of course of specialinterest, although NanoMarkets critically considers these claims in light of all available data.1.4 Plan of this ReportThis report is divided into four chapters. The Executive Summary above is intended to set out indetail where NanoMarkets believes the main opportunities for revenue generation are in thegeneral area of advanced glazing systems. Meanwhile, this Chapter—as its title suggests—isintended to introduce the topic of advanced glazing systems markets and what it might have instore.In Chapter Two we take an in-depth look at the evolution of advanced glazing systems technologyand products and how these are being shaped—and are shaping—market demand. This chapteralso focuses on how technologies being developed in the context of other markets—especiallysmart windows, lighting and solar panels—are transforming the windows business.In Chapter Three we examine in depth the markets for advanced glazing systems and the keydrivers in each of these markets. Also included in this Chapter are market forecasts in volumeand value terms and breakouts by type of advanced glazing product and type of application.

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