Glass Curtain Wall Market to Reach $85.72 Billion, Globally, by 2026 at 9.1% CAGR: Allied Market Research
PORTLAND, Ore., Sept. 7, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Glass Curtain Wall Market Analysis by Type (Unitized Systems and Stick Systems), Glazing Application (Exterior Glazed and Interior Glazed), and End-User (Commercial, Public, and Residential): Global Opportunity Analysis and Industry Forecast, 2019–2026" According to the report published by Allied Market Research, the global glass curtain wall market was pegged at $42.10 billion in 2018, and is estimated to reach $85.72 billion by 2026, registering a CAGR of 9.1% from 2019 to 2026.
Key determinants of the market-
Rise in spending on remodeling of residential and commercial buildings, rapid urbanization and development of the construction industry, and increase in focus toward affordable and green buildings have propelled the growth of the global glass curtain wall market. However, rise in prices of raw materials hampers the market. On the contrary, government investment in the building infrastructure sector is expected to create lucrative opportunities in the near future.
Covid-19 Scenarios-The glass curtain wall market has been majorly impacted due to Covid-19, as the construction activities have been completely stopped. The production, on the other hand, has been equally impacted, due to lockdown as the supply chain disruptions have led to the shortage of raw materials. Nevertheless, the government bodies have issued certain relaxations on the restrictions in order to maintain economic benefits. And, therefore, the construction activities and manufacturing of glass curtain wall have restarted.
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The unitized systems segment dominated the market in 2018-
Based on type, the unitized systems segment held the largest share in 2018, accounting for more than two-thirds of the global glass curtain wall market. This is attributed to high demand for these systems in the commercial sector and increase in the installation of these systems due to factors such as high insulation and high aesthetic appeal. However, the stick systems segment is expected to manifest the highest CAGR of 9.5% during the study period. The demand for stick systems is growing due to their durability and aesthetics. In addition, rapid urbanization and a rise in disposable income of individuals, and new investments in the construction industry further fuels the growth of the segment.
The exterior glazed segment is anticipated to lead the trail throughout 2026-
On the basis of glazing applications, the exterior glazed segment dominated in 2018, contributing to nearly three-fifths of the global glass curtain wall market. In addition, the segment is projected to register the highest CAGR of 9.3% during the forecast period. This is due to growth in construction industry and rise in investments on residential and commercial construction.
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Asia-Pacific, followed by North America, to rule the roost throughout 2026-
Region wise, the market across Asia-Pacific, followed by North America, has dominated in 2018, accounting for around one-third of the global glass curtain wall market. This is due to increase in demand for residential construction and presence of emerging economies in this region. However, the market across LAMEA is expected to register the highest CAGR of 10.6% during the forecast period. The growth in construction and infrastructure developments, improvements in business environment, and increase in construction expenditure propel the market growth in this province.
The market players-GC Inc. Central Glass Co., Ltd. AVIC Sanxin Co., Ltd. Guardian Industries Holdings, LLC China Glass Holdings Ltd. Saint-Gobain Nippon Sheet Glass Company, Limited Vitro, S.A.B. de C.V. SCHOTT AG Xinyi Glass Holdings Limited
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