Insulating glass units market in Finland

Earlier Report Observations

From 2018 to 2020, the insulating glass units market in Finland showed mixed dynamics in physical volume but steady growth in value. In 2018, active construction, particularly in residential and commercial sectors, along with energy policy goals and tightening building regulations, laid the foundation for demand. In 2019, despite a slight dip in volume, the introduction of stricter legislative changes emphasizing building energy efficiency led to a shift towards more expensive multi-layered and high-performance glass units, increasing market value. The COVID-19 pandemic in 2020 temporarily slowed new construction projects but simultaneously heightened focus on energy efficiency and indoor air quality, sustaining demand for modern insulating glass, especially from state-owned companies increasing investments in energy-saving solutions for public buildings.

Market growth continued in 2021 and 2022, driven by the post-pandemic recovery in construction activity and further regulatory tightening. In 2021, the revival in housing and office construction, coupled with stricter energy efficiency requirements that mandated the use of multi-layered and specially coated glass units, expanded both market volume and value. This trend was reinforced by the entry of innovative products such as smart glass and improved acoustic insulation units. In 2022, additional tightening of energy efficiency standards and significant investments by state-owned companies in new production facilities and technologies further stimulated demand for high-performance insulating glass, supporting growth in both dimensions.

However, in 2023, the market experienced a sharp contraction, with physical volume dropping to 607.2 thousand m² from 1 077.2 thousand m² in 2022, and value falling to $47 433 thousand from $62 627 thousand. This decline continued into 2024, with market size reaching 488.6 thousand m² and $35 633 thousand in value.

Production insulating glass units in Finland

In value, 2017-2020, K $ US

Finland's insulating glass units production increased for the second consecutive year. In 2020, output was valued at 43 489 K $ US, remaining virtually unchanged from 2019. Between 2017 and 2020, production grew by 18.1%, equating to an annualized rate of 5.7%. The minimum value was recorded in 2018 at 35 447 K $ US, which also saw the largest decline of 3.8%. The largest increase occurred in 2019, with a 22.1% rise.

Annual dynamics of production in Finland in value, 2017-2020, K $ US

In kind, 2017-2020, K m²

Finland's insulating glass units production rose for the second consecutive year. In 2020, 714.4 K m² were produced, marking a modest 6.5% improvement over the previous year. From 2017 to 2020, production increased by 8.1%, with a compound annual growth rate of 2.6%. The minimum value was recorded in 2018 at 556.4 K m², which also experienced the largest decline of 15.8%. The largest increase took place in 2019, with a 20.6% surge.

Annual dynamics of production in Finland in kind, 2017-2020, K m²

Exports insulating glass units from Finland

Exports in kind, K m²

In 2020, insulating glass units exports from Finland amounted to 82.3 K m², representing a 62.0% decline compared to 2019. Between 2017 and 2020, exports decreased by 51.3%, equating to an annualized rate of 21.3%. The maximum value was recorded in 2019 at 216.3 K m², which also saw the largest increase of 34.0%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, K m²

From 2017 to 2020, Germany, Poland, and Belgium were the principal buyers of insulating glass units from Finland, accounting for 30.7%, 21.5%, and 9.1% of exports in kind, respectively. Together, they represented 61.3% of total exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, K $ US

Insulating glass units exports from Finland declined for the second consecutive year. In 2020, exports reached 7 547 K $ US, which is 50.4% lower than in 2019. Over the period 2017-2020, exports decreased by 52.7%, with a compound annual growth rate of 22.1%. The maximum value was recorded in 2018 at 16 725 K $ US, which also experienced the largest increase of 4.8%.

Annual dynamics of product's exports from Finland in value, 2017-2020, K $ US

From 2017 to 2020, Germany, Poland, and Belgium continued to lead as the top buyers of insulating glass units from Finland in value terms, with shares of 24.0%, 20.7%, and 10.9%, respectively. Collectively, they accounted for 55.6% of total exports in value terms.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports insulating glass units to Finland

Imports in kind, K m²

After a two-year drop, Finland's volume of insulating glass units imports increased. In 2020, imports amounted to 102.5 K m², representing a 27.4% rise compared to 2019. Over the period 2017-2020, imports decreased by 45.5%, with a compound annual growth rate of 18.3%. The minimum value was recorded in 2019 at 80.5 K m², which also saw the largest decline of 51.9%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, K m²

From 2017 to 2020, Poland and Estonia together accounted for 86.8% of total imports in kind, while other countries formed a diversified but less significant portion.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, K $ US

Cross-border shipments of insulating glass units to Finland declined for the second consecutive year. In 2020, imports reached 5 074 K $ US, down by 10.8% year-over-year. Between 2017 and 2020, imports decreased by 21.1%, equating to an annualized rate of 7.6%. The maximum value was recorded in 2018 at 8 675 K $ US, which also experienced the largest increase of 34.9%. The largest decline occurred in 2019, with a 34.4% drop.

Annual dynamics of product's imports to Finland in value, 2017-2020, K $ US

From 2017 to 2020, Poland and Estonia remained the main markets for imports in value terms, jointly accounting for 85.5% of total flows, with other partners making up the remainder.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020