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How much exactly has the glass curtain wall grown?
The glass curtain wall market has escalated from a substantial $56.78 billion in 2023 to an expected $61.82 billion in 2024, indicating a considerable compound annual growth rate CAGR of 8.9%. This growth in the historic period can be linked to a variety of catalysts, such as increasing urbanization and skyscraper construction, a focus on architectural aesthetics, strict energy efficiency regulations, the desire for natural light and breathtaking views, and a shift towards sustainable construction.
But what does the future hold for the glass curtain wall market?
According to forecasts, the market size of the glass curtain wall sector will continue to see robust growth in the next few years. By 2028, it is anticipated to reach a stunning $85.38 billion, manifesting a CAGR of 8.4%. This growth in the forecast period is expected to be driven by factors such as urban heat island mitigation, building information modeling bim, smart building integration, resilient building designs, and the rise of net-zero energy buildings.
Major trends that will probably dominate the forecast period include dynamic glass technology, transparency and daylighting, high-performance coatings, sound insulation solutions, and prefabrication and modular systems.
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A significant driver propelling the growth of the glass curtain wall market is the rise in consumer spending on home remodelling. The allure of glass curtain walls, offering renovated modern looks for aged buildings and houses with seamlessly incorporated designs and patterns, has encouraged consumers to invest more in these constructions, greatly enhancing their property's aesthetic appeal. Retail sales in furniture and home furnishings solutions reportedly rose to $12.53 billion in January 2023 from $11.73 billion in January 2021, as per the U.S. Census Bureau. This promising increase signals a powerful wave of growth in the glass curtain wall market in the coming years.
So, who exactly is fuelling this surge in the glass curtain wall market?
Major companies operating in this sector includes Saint-Gobain SA, Asahi Glass Ltd., Central Glass Co. Ltd., Guardian Industries Corp., Nippon Sheet Glass Co. Ltd., Avic Sanxin Co. Ltd., Schott AG, China Glass Holdings Limited, In vitro diagnostics, Xinyi Glass Holdings Limited., Apogee Enterprises Inc., Kawneer Inc., and Arconic Inc., among others. These industry leaders are vital in driving market growth and fostering innovation within the sector.
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One key emerging trend in the glass curtain wall market is the growing popularity of low emissivity glass curtain walls. Primary market players are emphasizing technological solutions development, strengthening their position in the market. For instance, Vitro Architectural Glass introduced Solarban R77 solar control, a low-emissivity Low-E glass in February 2021.
The glass curtain wall market can be divided into several categories:
1 By System Type: Unitized, Stick
2 By Glazing Application: Exterior Glazed, Interior Glazed
3 By End-use: Commercial, Public, Residential
Geographically speaking, Asia-Pacific was the leading region in the glass curtain wall market in 2023, accounting for the most significant share of the global market. The rest of the global market is split amongst Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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