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This report will also bring considerable insights to corporate planners throughout the building products and construction industries as well as architects and sophisticated investors. As with all NanoMarkets reports, this report contains detailed eight-year forecasts of the markets analyzed in this report in both value ($ millions) and volume (area) terms. Forecast breakouts are by end-user type, technology, materials used and geography. In addition, the report contains a thorough analysis of the product/market strategies of the leading firms currently active in the advanced glazing space. And both giant firmssuch as Alcoa, Saint-Gobain and Bayerand the latest startups are included in the coverage.
TABLE OF CONTENTS Executive Summary E.1 Summary of Key Drivers for Advanced Glazing Systems E.2 Technology Roadmap for Advanced Glazing Systems E.2.1 The Coming Together of Advanced Glazing Systems with Smart Windows, Solar Panels and Lighting E.3 Opportunity Analysis for Advanced Glazing Systems E.3.1 Opportunities for the Windows/Glazing Sector E.3.2 Opportunities for Materials Firms E.4 Firms to Watch in the Advanced Glazing Sector E.5 Summary of Eight-Year Forecasts Chapter One Introduction 1.1 Background to this Report 1.2 Objective and Scope of this Report 1.3 Methodology and Information Sources 1.4 Plan of this Report Chapter Two: Advanced Glazing System Products and Technologies 2.1 Advance Glazing Systems and Smart Windows: Two Related But Different Opportunities 2.2 Next-Generation Thermally Insulated Windows 2.3 Dynamic Glazing Technologies 2.3.1 Dynamic Thermal Control 2.3.2 Dynamic Vision Control 2.3.3 Advanced IR Control 2.4 Future Integration Directions for Advanced Glazing Systems 2.4.1 Impact of Building-Integrated Photovoltaics (BIPV) on Smart Glazing Systems 2.4.2 Integrating Smart Lighting into Advanced Glazing Systems 2.5 Materials for Advanced Glazing Systems 2.5.1 Specialist Glasses 2.5.2 Polymers: PET and PVB 2.5.3 Sealants 2.6 Key Takeaways from this Chapter Chapter Three: Markets and Market Forecasts for Advanced Glazing Systems 3.1 Key Functional Drivers for Advanced Glazing Systems 3.1.1 HVAC Energy Savings 3.1.2 Daylighting 3.1.3 Lowering Construction Costs/Complexity and Maintenance Costs 3.1.4 Noise Reduction 3.1.5 Increased Comfort and Human Productivity 3.2 Advanced Glazing Systems in "Green" and Zero-Energy Buildings 3.2.1 Eight-Year Forecasts of Advanced Glazing Systems for Commercial Buildings 3.2.2 Eight-Year Forecasts of Advanced Glazing Systems for Industrial Buildings 3.2.3 Eight-Year Forecasts of Advanced Glazing Systems for Multi-Tenant Residential Buildings Page | 2
3.2.4 Eight-Year Forecasts of Advanced Glazing Systems for Single-Family Residential Buildings 3.3 Eight-Year Forecasts of Advanced Glazing Systems by Technology 3.3.1 Next-Generation Thermally Insulated Windows 3.3.2 Dynamic Glazing Technologies 3.3.3 Multi-functional Advanced Glazing Systems 3.4 Eight-Year Forecasts by Geographical Region 3.5 Summary of Eight-Year Forecasts of Advanced Glazing System Markets 3.6 Eight-Year Forecasts of Materials for Advanced Glazing Systems 3.7 Key Takeaways from this Chapter
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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 | 5
These new demand patterns that NanoMarkets has identified are accompanied by important technological developments too. As we have suggested above, the new highly insulated glazing systems that were described at the beginning of this account are sufficiently different from more conventional windows product to consider them a new kind of product. But the likely technological evolution of advanced glazing systems, NanoMarkets believes, seems likely to go well beyond simply a radical performance improvement to include a much higher level of functionality for advanced glazing systems. These new directions will succeed, NanoMarkets believes, because they are very much in tune with the demand patterns we have already explained. Among the technological patterns in the advanced glazing systems business are the ones that are discussed below. Incorporation of smart windows concepts into advanced glazing systems: In this context smart windows are usually referred to as "dynamic glazing." And a shift to dynamic glazing is already beginning to be noticeable, at least in the sense that this idea is receiving a lot of attention in 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 on advanced glazing systems, this technology is not all that mature. However, dynamic glazing technologies are improving and add a new dimension of both thermal and lighting control to the advanced glazing concept. BIPV integration into advanced glazing systems: Similarly drawing on the latest developments and materials used in BIPV and incorporating them into advanced glazing systems seems like an intelligent product design move for the future. BIPV could power dynamic glazing or be used as a more general power source for the building thereby better enabling zero-energy buildings. The building owner, manager or occupant would also benefit from the economies of integration implicit in this kind of integration. One might think that BIPV integration into advanced glazing systems might occur before the incorporation of dynamic glass. BIPV glass is a relatively mature technology that is being supported by stable firms, some of which are quite large. Nonetheless, NanoMarkets has yet to see 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 complex arrangements that let in some light while artificial lighting is also used are also possible. And, of course, the lighting involved in such arrangements could be on the inside or outside of the building or both.
Of all the possible technological trends that we discuss here, this suggestion is probably the most speculative, because the technology to accomplish it is not really with us yet. OLEDsgiven better encapsulationmay serve quite well in the future in an advanced glazing system into which lighting has been built, but the technology has some way to go before it could work well in a commercial window/lighting panel such as that described above. Building management systems and advanced glazing systems: Although it seems unlikely to happen fast, we also believe that some money will be made along the way by integrating active glazing 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 systemssometimes called smart lighting systemsare another type of control system that may be interfaced to active glazing systems where lighting is an emphasized functionality of such systems. Page | 6
We have yet to see any real trends towards building energy or lighting management systems incorporating the management of active glazing systems, but this would seem to be inevitable if advanced glazing systems of this kind start to be widely used.
Exhibit 1-1: Opportunities Available to Major Players in the Advanced Glazing Systems Type of Firm Opportunity Conventional window suppliers Materials suppliers Opportunity to generate new business revenues in a down market. Highly insulated windows seems like the most immediate opportunities Page | 7 Novel technologies that form part of advanced glazing systems 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 consumed It makes sense for firms in the SSL and solar panel industry to keep 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 one Advanced glazing systems may be used as one component of market strategy designed to sell potential owners and occupants on the idea that particular buildings are energy efficient and have good daylighting
NanoMarkets 2012
Conventional window manufacturers and suppliers: All of the developments leading to new kinds of glazing systems are likely to benefit firms involved in the conventional windows industry and 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 margins on advanced glazing systems and whether volumes are sufficient to make a significant difference to these firms' bottom lines. We don't know the answer to that yet for sure, nor do we know how well such firms will evolve their product strategies from the latest generation of highly insulated windows, 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 the products that it supplies depends heavily on new materials, NanoMarkets sees the emergence of a distinct advanced glazing systems market as being important to a broad range of materialsoriented 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 systemsmaterials 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
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 the kind of advanced glazing systems that we have discussed above will become of growing interest to both the solar panel industry and (a bit later) to the solid-state lighting industry. Firms active in Page | 8 these industries will have the opportunity to tap into the expected rapid growth of advanced glazing systems. In particular, in this area, it seems likely that new opportunities will emerge for BIPV companies and OLED firms to make money by implanting PV and lighting layers into highperformance windows products. Service provider beneficiaries: Service provider firms that NanoMarkets expects to see benefit from the appearance on the market of more advanced glazing system products include construction firms and architects. Both of these groups could use of advanced glazing systems to market buildings to future owners, managers and occupants. Energy efficiency and enhanced comfort are proven winners in marketing to these groups.
focus of this report. In particular, we don't 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 technologiesBIPV, OLEDs, building management systems, and so onare 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 differences among 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 are better with new construction than with retrofits, we discuss both opportunities in the main body of this report. We also assess the current strategies of firms already pursuing the advanced glazing systems as well as likely entrants. And as with all NanoMarkets reports, this report contains granular eight-year forecasts in both square meters and dollar terms of advanced glazing systems markets, with breakouts by end user, type of product and type of advanced glazing technology.
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 the basic approach taken here is to identify and quantify the underlying needs and markets that are served by BIPV walling products; consider the specifics of the applications and the types of products available or under development; and assess the competitive landscape to determine the suitability 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 special interest, although NanoMarkets critically considers these claims in light of all available data.