Glass Curtain Wall Market to Reach $99.5 billion, Globally, by 2032 at 6.8% CAGR: Allied Market Research

The glass curtain wall market has witnessed growth due to factors such as rise in residential and construction activities. In addition, an increase in the disposable income of individuals and an improvement in the standard of living of people in developing countries are expected to boost the growth of the glass curtain wall market.

Wilmington, Del., Dec. 6, 2023 /PRNewswire/ — Allied Market Research published a report, titled,Glass Curtain Wall Market by Type (Unitized Systems and Stick Systems), Glazing Application (Exterior glazed and Interior glazed), End User (Residential, Office Buildings, Retail Spaces & Hotels, Healthcare Facilities, Educational Institutions, and Others), and Sales Type (Manufacturer and Installer): Global Opportunity Analysis and Industry Forecast, 2023–2032″. According to the report, the global Glass curtain wall industry generated $44,415.5 million in 2020, and is anticipated to generate $99,466.2 million by 2032, witnessing a CAGR of 6.8% from 2023 to 2032.

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Prime determinants of growth

The growth in commercial and residential real estate sector drives the Glass curtain wall market. However fluctuating prices of raw materials are restraining the growth of the market. On the contrary, rapid urbanization and industrialization of emerging countries are expected to offer lucrative opportunities for the growth of the market.

Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2020

$44,415.5 million

Market Size in 2032

$99,466.2 million

CAGR

6.8 %

No. of Pages in Report

374

Segments covered

Type, Gazing Application, End User, Sales Type, and Region

Drivers

Growth in commercial and residential real estate

Recovery in the construction industry

Increase in spending on home remodeling and retrofitting activities

Opportunities

Technological Advancements 

Restraints

The fluctuating prices of raw materials

 

Analysis of the impact of inflation on the market

  • The glass curtain wall market is experiencing slow-paced growth due to various global events such as the economic downturn, and the COVID-19 pandemic. Formerly, the COVID-19 pandemic forced countries across the world to halt all industrial and trade activities, which severely impacted market growth. This led to reduced output from the key players in the glass curtain wall market and resulted in lower demand from various end users. However, the COVID-19 pandemic has mostly subsided, and the probability of its severe negative impact on the glass curtain walls market is relatively low.
  • Currently, the market is mainly impacted by the worldwide economic downturn which is a big restraining factor for the entire industrial and construction sectors. The current inflation is a result of the UkraineRussia conflict, as well as the quantitative easing that was performed in various countries across the world to tackle the economic downturn during the coronavirus outbreak.

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The unitized system segment to maintain its leadership status throughout the forecast period

By type, the unitized segment held the highest market share in 2020, accounting for more than three-fourths of the global Glass curtain wall market. Unitized curtain wall systems are already completely assembled in manufacturing facilities, and then delivered to the construction site. This eliminates the need for individual installation in the building; thereby, speeding up the construction process. However, stick system segment is projected to manifest the highest CAGR of 7.7% from 2023 to 2032. The stick curtain wall system is simple, highly adaptable to complex shapes, and economical. Thus, it is suitable for complex building façade that has irregular shapes such as triangular and irregular polygon curtain walls, convex-concave elevation curtain wall, double-curved faces walls, and others.

The exterior glazed segment to maintain its leadership status throughout the forecast period

By glazing application, the exterior glazed segment held the highest market share in 2020, accounting for more than four-fifths of the global Glass curtain wall market. The exterior glazed system is used in various commercial, residential, and high-rise buildings and is expected to boost the demand for the glass curtain wall systems market. It is mainly used in office buildings, shopping malls, and hotels owing to its various advantages such as protection against environmental elements such as wind, rain, and enhanced attractiveness of the building, increased thermal efficiency, and improved building dynamics. It requires a swing stage, scaffolding, or a man lift to install large sections of glass that are assembled into the framework and then attached to the building’s exterior.

The office buildings segment to maintain its lead position during the forecast period

By end user, the office building segment accounted for the largest share in 2020, contributing to nearly two-fifths of the global glass curtain wall market revenue, and is projected to maintain its lead position during the forecast period. Gradual increase in population and rise in disposable income of population in various developing countries, including India and Brazil, boost the growth of the glass curtain wall market. However, the retail spaces and hotels segment is expected to portray the largest CAGR of 7.4% from 2023 to 2032. The glass curtain wall is used for retail spaces and hotels owing to its various features such as aesthetic appeal, energy efficiency, and flexibility in design, combined with eco-friendly properties and the expertise of glaziers in their installation, make curtain walls an essential element in shaping the future of the construction industry.

Asia-Pacific to maintain its dominance by 2032

By region, Asia-Pacific held the highest market share in terms of revenue in 2020, accounting for more than two-fifths of the global glass curtain wall market revenue and is likely to dominate the market during the forecast period. Strong economic growth, rapid urbanization, and the presence of a large population base significantly contribute toward the growth of the glass curtain wall market in Asia-Pacific. In addition, an increase in remodeling and repairing work in developing countries such as China, India, Vietnam, and Indonesia fuel the demand for glass curtain walls. However, the LAMEA region is expected to witness the fastest CAGR of 8.3% from 2023 to 2032. Latin America and the Middle East have a large number of developing countries with a huge growth potential. Many countries in the Middle East region are focusing on rapid development of infrastructure for boosting the tourism industry. This creates a demand for hotels, resorts, and other guests’ accommodation; thereby increasing the demand for glass curtain walls.

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Leading Market Players: –

  • AGC Inc.
  • Central Glass Co.LTD
  • Guardian Industries Corp.
  • Nippon Sheet Glass Co., Ltd
  • Saint-Gobain group
  • Schott AG.
  • Vitro S.A.B. de C.V.
  • Xinyi Glass Holdings Limited
  • Yuanda China Holdings Limited
  • Hainan Development Holdings Nanhai Co., Ltd.

The report provides a detailed analysis of these key players in the global glass curtain wall market. These players have adopted different strategies to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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