Glass Façade Global Market Report 2024: Increasing Investments in Construction Activities Fueling Market Growth
Glass Façade Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What is the Glass Façade Market Size in 2024 and its Growth Rate?
The glass façade market has been witnessing steady growth over the past few years. The market size is estimated to increase from $167.25 billion in 2023 to $174.69 billion in 2024, reflecting a compound annual growth rate CAGR of 4.4%. The growth period recorded can be primarily attributed to architectural aesthetics, rapid urbanization leading to high-rise construction, strict energy efficiency regulations, preference for natural light and view, and global economic growth.
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What is the Anticipated Growth Forecast for the Glass Façade Market?
Looking into the future, the glass façade market size is projected to experience stable growth. It is projected to reach $210.52 billion in 2028 with a compound annual growth rate CAGR of 4.8%. The growth anticipated during the forecast period can be attributed to factors such as urban heat island mitigation, the rise of net-zero energy buildings, an increasing trend towards building renovation and retrofit, the adoption of climate-resilient designs, and the use of building information modeling bim.
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What are the Major Drivers Behind the Growth of the Glass Façade Market?
Increasing investment in construction activities stands as a significant factor contributing to the growth of the glass façade market. The increasing penetration of glass-based architecture in both residential and non-residential applications allows natural light for an extended period, thereby saving on the cost of external lighting.
Who are the Key Players in the Glass Façade Market?
Major companies operating in the glass façade market include Saint-Gobain SA, AGC Inc., Guardian Industries, Nippon Sheet Glass Co. Ltd., Sisecam Group, Kawneer Company Inc., YKK AP Inc., Rockwool International A/S, EOS Framing Limited, Harmon Inc., Xinyi Glass Holdings Limited, and others. These leading companies play a crucial role in driving the market growth through their consistent efforts in product advancement and innovation.
What are the Emerging Trends in the Glass Façade Market?
New technological advancements are gaining popularity in the glass facade market. These include technologies such as smart windows, which can, under a low-voltage current, change their tint and reflective properties depending on the external temperature. Examples include SageGlass from Saint-Gobain, a France-based company, which provides smart glasses that save energy by lowering electricity consumption.
How is the Glass Façade Market Segmented?
The glass façade market covered in this report is segmented as follows:
1 By Product: Tempered, Insulated, Laminated, Other Products
2 By Shape: Flat Tempered Glass, Bent Tempered Glass
3 By Application: Residential, Non-Residential
What are the Regional Insights into the Glass Façade Market?
Asia-Pacific emerged as the largest region in the glass façade market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the glass façade market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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