According to a new report published by Allied Market Research, titled, " Glass curtain wall Market by Type, Glazing Application, and End-User: Global Opportunity Analysis and Industry Forecast, 2019–2026," global glass curtain wall market size was valued at $42,105.5 million in 2018, and is projected to reach $85,727.4 million by 2026, growing at a CAGR of 9.1% from 2019 to 2026. The commercial segment is anticipated to hold over three-fifths of the global glass curtain wall market share in 2018 and is expected to witness a significant growth during the forecast period.
Glass curtain walls are non-structural aluminum-framed walls, comprising infills of glass panels that are fixed to the building. They are of two types: unitized glass curtain walls and stick-built glass curtain walls. The glass curtain wall market has witnessed substantial rise over past few years and is anticipated to record similar advancements during the upcoming years. Surge in urbanization and publicization, specifically in emerging markets, further stimulates the glass curtain wall market development. In addition, increase in demand for glass curtain walls in commercial and public building sectors is anticipated to drive the global glass curtain wall market during the forecast period. Further, the development of the global glass curtain wall market is driven by the need for the beautification of commercial as well as public buildings.
On the other hand, rise in cost of steel and fluctuating foreign currency exchange rates are projected to hinder the glass curtain wall market growth. However, accessibility of low-cost and efficient manufacturing, especially in Asia-Pacific and rise in support from governments of different countries provide lucrative growth opportunities for the glass curtain wall market.
In 2018, Asia-Pacific dominated the global glass curtain wall market, in terms of revenue, accounting for about 33.9% share of the global market, followed by North America. By end-user, the commercial segment secured the highest share in the global glass curtain wall market in 2018, and the residential segment is expected to grow at a CAGR of 5.2% during the forecast period. In terms of type, the unitized systems segment is anticipated to account for the highest global glass curtain wall market share in the upcoming years. On the basis of glazing application, the exterior glazed segment is anticipated to hold majority of the share of the global glass curtain wall market.
Key Findings of the Study:
- The report provides an extensive analysis of the current and emerging glass curtain wall market trends and dynamics.
- Depending on glazing application, the exterior glazed segment dominated the glass curtain wall market in 2018, and is projected to grow at a significant CAGR during the forecast period.
- By type, the unitized systems segment held the majority of the glass curtain wall market share in 2018.
- On the basis of end-user, in 2018, the commercial segment held the largest share of the global glass curtain wall market.
- LAMEA is projected to register the highest growth rate during the forecast period.
- U.S. accounted for over 60% share of the North America glass curtain wall market in 2018.
- Key market players within the glass curtain wall market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the glass curtain wall industry.
The key players profiled in the glass curtain wall market include AGC Inc., AVIC Sanxin Co., Ltd., Central Glass Co., Ltd., China Glass Holdings Ltd., Guardian Industries Holdings, LLC, Nippon Sheet Glass Company, Limited, Saint-Gobain, SCHOTT AG, Vitro, S.A.B. de C.V., and Xinyi Glass Holdings Limited.
Many players have adopted product launch as their key developmental strategy to improve their product portfolio. For instance, in June 2019, Cebrace, a brand of Saint-Gobain launched Cool Lite BRB 127 glass curtain wall system. The product is designed especially for applications in tropical climates, to provide visual comfort and thermal comfort to customers. In addition, it offers low reflection and prevents up to 69% of heat from entering into the building.