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Storefront Glass Market Expected to Reach $13.3 Billion by 2032—Allied Market Research

 
2022
Storefront Glass Market

Report Code : A03160

quote The rise in demand for storefront glasses from the commercial sector drives the storefront glass market. In addition, technological advancements in manufacturing of construction glasses for enhancing safety and security positively impact market growth. quote

Sonia Mutreja - Manager
Construction and Manufacturing at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Storefront Glass Market," The storefront glass market size was $5.6 billion in 2020, and is estimated to reach $13.3 billion by 2032, growing at a CAGR of 7.3% from 2023 to 2032. 

Storefront glass refers to the specialized use of glass in the designs and construction of the front facing exterior of commercial and retail buildings. In addition, it is employed to create transparent or translucent openings, typically in the form of windows and doors, which allow nature to enter the interior while providing visibility from both inside and outside the building.   

Rise in construction of commercial and institutional buildings is expected to drive the expansion of the windows and doors storefront glass market. Major countries such as the U.S., China, Germany, and India are expected to serve as the potential market for building commercial places, owing to presence of large urban population and high disposable income. According to the World Bank, about 56% of the global population resides in urban areas and is expected to exceed 70% by 2050.  

Buildings such as retail stores, hospitality buildings, and other commercial real estate are growing significantly, providing the much-needed infrastructure for the growing urban population. In addition to this, the IT sector jobs, and other service sector jobs are flourishing in countries such as China and India, which is a major reason for the construction of commercial buildings for office purposes. For instance, demand for office buildings is anticipated to rise in India; according to the India Brand Equity Foundation (IBEF), the demand for office spaces is anticipated to grow, along with increasing urbanization in Delhi-NCR, Mumbai, and Bengaluru. Moreover, this type of commercial and institutional construction required storefront glasses for providing aesthetically appealing, durable, and tough as well. Thus, surge in construction projects across globe is expected to drive market growth. 

In addition, safety and security are the major concerns in the commercial sectors. According to the Federal Bureau of Investigation (FBI), on average, intrusion takes place every 26 seconds in the U.S., and the loss from break-ins is around $2,800. This has led to the deployment of systems such as voice-activated devices, video intercom systems, smart outlets, and other antitheft systems in homes. In addition, demand for automatic storefront glass doors is increasing due to concerns over the spread of viruses, bacteria, and other diseases that can occur by touching doorknobs and handled by many people. The newly released International Building Code (IBC) for 2021 has mandated the installation of automatic entrance doors in public buildings.  

Furthermore, the participation of major players  having significant storefront glass market share such as ASSA ABLOY Group, Nabtesco Corporation, and Stanley Black & Decker, Inc. has increased due to technological advancements. For instance, in September 2019, Stanley Access Technologies launched the new DuraFit Telescoping Automatic Door. It is designed for applications in high traffic areas, such as hospitals, hotels, and retail centers. The product features bi-part, six-panel telescope and can be installed in tight spaces with 6 ft. to 9 ft. openings.   

Furthermore, the increase in the installation of smart home systems for safety & security enhances the visual appeal of the house, thereby creating value for f end users of storefront glass. This factor is expected to continue to provide profitable business opportunities to market players during the forecast period. 

Increase in adoption of storefront glass in restaurant and cafes due to it offers several benefits such as storefronts glass provides a visually appealing and inviting facades that can align with the restaurant or cafes branding, theme, and ambiance. It creates an attractive first impression for passersby. In addition, transparent or transparent storefront glass allows potentials customers to see the interiors of the restaurants or café, including the layout, décor, and menu offerings. This transparency encourages curious passerby to enter and dine. Hence, such advantages propel the storefront glass market growth during the forecast period.  

However, to keep it looking its best, storefront glass needs to be cleaned and maintained frequently. The glass may become covered in grime, dust, and weather conditions, which may affect how it looks. Additionally, because storefront glasses comprise ingredients collected from recycling garbage, limestone, and sodium carbonate, the cost of raw materials used in the production of glass is rising. These are the main elements that will limit and hinder the market's rate of expansion.  

Furthermore, a favorable potential for the storefront glass market is presented by the growing urbanization of many developing nations and the rising per capita income of a nation that raises an individual's disposable income. The strong demand in emerging economies as a result of rising living standards is primarily what drives the worldwide storefront glass industry. Additionally, it is projected that the renovation and extension of commercial infrastructures to draw in customers from all over the world would accelerate market growth in the future years. Furthermore, an increase in strategic alliances will work as market drivers and improve favorable prospects for the market's growth rate during the storefront glass market forecast period.  

Key Findings of the Study   

• The report provides an extensive storefront glass market analysis along with storefront glass market overview of the current and emerging trends and dynamics.    

• By type, the insulated glass segment was the largest revenue generator in 2022.   

• Based on distribution channel, the offline segment generated the highest revenue in 2022.   

• By end user the stores segment dominated the market in 2022.    

• Region wise, Asia-Pacific is anticipated to dominate the market throughout the study period.   

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quote Storefront Glass Market by Type (Safety/Limited Glass, Insulated Glass, Others), by Distribution Channel (Online, Offline), by End User (Stores, Showrooms, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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