Global Glass Curtain Wall Market Size is projected to reach USD 110.99 billion by 2031, growing at a CAGR of 8.7%: Straits Research

An increased focus on improving building energy efficiency and increased funding for the development of environmentally friendly buildings will drive the growth of the glass curtain wall market over the period under review.

New York, United States, March 13, 2024 (GLOBE NEWSWIRE) — Fronts with glass curtain walls consist primarily of glass or metal panels, while the fronts are framed with lightweight aluminum. These glazing materials are incapable of supporting the roof or floor. They are also incapable of supporting the ceiling’s weight. These glass curtain walls must be integrated with adjacent structural elements, such as roofs and wall claddings, with extreme care. Numerous product variations, including prefabricated systems, customized and custom wall modules, and generalized wall modules, are available.

Modern architecture is characterized by curtain walls, frequently comprised of glass and aluminum frameworks. These products are used nationwide in commercial structures and high-rise and low-rise apartment complexes. Throughout the period encompassed by this forecast, a significant increase in the number of construction projects worldwide will stimulate the growth of the glass curtain wall industry. During the period under review, the glass curtain wall market will expand due to a greater emphasis on enhancing building energy efficiency and an increase in funding for developing environmentally friendly structures.  

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Market Dynamics

Rapid Urbanization and Growth of the Construction Industry Drive the Global Market

According to Straits Research, “The global glass curtain wall market was valued at USD 52.39 billion in 2022. It is estimated to reach USD 110.99 billion by 2031, growing at a CAGR of 8.7% during the forecast period (2023–2031).” Due to the increased demand for homes, businesses, and public structures, the glass curtain wall industry is continually expanding. The construction industry is expected to contribute substantially more to the global economy. The demand for glass curtain walls is anticipated to increase significantly as the urban population and construction industry expand. Increasing urbanization has also affected the global construction industry. Due to their accelerated infrastructure growth, the world’s emerging economies, where urban population growth is concentrated, are also crucial for developing glass curtain walls.

Rapid urbanization in developing nations increases the demand for superior public services and infrastructure in these nations. Therefore, government initiatives to enhance airports, educational facilities, hospitals, parks, and other public places will create lucrative business opportunities for market rivals.

Government Investments in the Building Infrastructure Sector Creates Tremendous Opportunities

There have been numerous government initiatives concerning infrastructure development. The increase in real estate market investments increases the demand for glass curtain walls to construct infrastructure initiatives in other industries. The Canadian government implemented the Investing in Canada plan, a comprehensive, long-term strategy for establishing a prosperous and inclusive nation through historic infrastructure investments.

In addition, the reduction of taxes, the introduction of new tax incentives, relatively inexpensive lending rates, and the expansion of the economy all contribute to the expansion of the construction industry in the United States. The federal government of the United States planned to invest one trillion dollars from public and private sources in the nation’s infrastructure. Due to government investments in the building infrastructure sector, market participants are expected to have access to lucrative opportunities.

Regional Analysis

Asia-Pacific is the most significant global glass curtain wall market shareholder and is estimated to exhibit a CAGR of 9.7% over the forecast period. Asia-Pacific is anticipated to be a leading market and a supporter of market progress due to a rise in the need for residential buildings. A high growth rate in the Asia-Pacific glass curtain wall market is projected due to rising economies. India and China are the most populous nations in the Asia-Pacific region, with a dense population overall. This drives real estate and business markets. Growing demand for glass curtain walls in the commercial sector is anticipated to promote market progress in developing nations like China and India.

Moreover, the rapid urbanization and population growth in Asia-Pacific are factors in the market’s expansion. The installation of renovation and repair projects in industrialized nations increases demand for glass curtain walls. Due to the nation’s increasing urbanization and commercialization, rise in income levels, expansion in population, and increase in family income, the building market is also anticipated to grow. The market is anticipated to develop due to increased demand for glass curtain walls from both the residential and commercial sectors.

North America is anticipated to exhibit a CAGR of 8.6% over the forecast period. Regarding revenue, North America is the second-largest market for glass curtain walls. Because of the building sector’s expansion and the popularity of modular construction projects, the glass curtain wall market is growing quickly in North America. Numerous businesses are growing their operations through various tactics to keep up with the increased demand for modular construction. Under the terms of the agreement, HWH is anticipated to become SGB’s preferred partner for completing site preparation and single-family container-based modular home assembly. Due to the increase in end users’ spending power, the market in the area also demands premium-range glass curtain walls.

Furthermore, the demand from the residential sector is anticipated to be driven by an increase in population and expanding urbanization, consequently accelerating the need for cheap housing units. The residential sector’s significant increase in demand for infrastructure maintenance and repair is also anticipated to drive market expansion in the area. The number of infrastructure and new development projects has increased, which has given participants in the glass curtain wall market greater chances.

Key Highlights

  • Based on type, the global glass curtain wall market is bifurcated into unitized and stick systems. The unitized systems segment dominates the global market and is projected to exhibit a CAGR of 8.9% during the forecast period.
  • Based on glazing application, the global glass curtain wall market is bifurcated into exterior and interior glazing. The exterior glazed segment owns the highest market share and is predicted to exhibit a CAGR of 9.3% over the forecast period.
  • Based on end-users, the global glass curtain wall market is divided into commercial, public, and residential. The commercial segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 8.7% over the forecast period.
  • Asia-Pacific is the most significant global glass curtain wall market shareholder and is estimated to exhibit a CAGR of 9.7% over the forecast period.

Competitive Players

The key players in the global glass curtain wall market are AGC Glass Europe, China Glass Holdings Limited, EFCO Corporation, Guardian Industries, Hansen Group Ltd., Kawneer Company, Inc., Nippon Sheet Glass Co., Ltd., Oldcastle Building Envelope, Saint-Gobain S.A., Asahi Glass, Central Glass, Avic Sanxian Co Ltd, Schott AG, Vitro, and Schüco International KG.

Market News

  • In February 2023, One Madison Avenue’s new glass curtain wall began installation in the Flatiron District, Manhattan.
  • In October 2021, Permasteelisa Group, a leading global contractor in the building industry, announced the completion of the facade for the Dubai Creek Tower, which features a glass curtain wall system that is more than 6,000 square meters in size.

Global Glass Curtain Wall Market: Segmentation

By Type

  • Unitized systems
  • Stick Systems

By Glazing Applications

  • Exterior Glazed
  • Interior Glazed

By End-User

  • Commercial
  • Public
  • Residential

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

Get Detailed Market Segmentation @ https://straitsresearch.com/report/glass-curtain-wall-market/segmentation

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