CHICAGO, April 8, 2019
CHICAGO, April 8, 2019 /PRNewswire/ -- According to the new research report "Glass Curtain Wall Market by Type (Unitized curtain wall, stick curtain wall), End-use (Commercial, Public, Residential), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecast to 2023", published by MarketsandMarkets™, the Glass Curtain Wall Market is estimated at USD 44.5 billion in 2018 and is projected to reach USD 73.4 billion by 2023, at a CAGR of 10.50%. The rising infrastructure and building & construction industries drive the demand for glass curtain walls. Furthermore, the increase in demand from end-use industries of glass curtain wall further boosts market growth.
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The unitized curtain walls segment is projected to grow at a higher CAGR in the global glass curtain wall market from 2018 to 2023
The unitized curtain wall segment is projected to grow at a higher CAGR during the forecast period, in terms of value, due to its high demand in the commercial buildings, and the rise in demand for infrastructure and buildings & construction solutions. The components of unitized curtain wall systems are assembled and installed in the factories and then brought to the construction sites. The size of these curtain wall systems is directly proportional to the height of the building (floor-to-floor height of the building). The need for easy & quick construction and better sound quality in buildings drive the need for unitized curtain wall systems.
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The commercial buildings segment is estimated to be a major consumer in the glass curtain wall market in 2018
Glass curtain walls are lightweight aluminum-framed facades housing glass or metal panels. Curtain walls are specifically designed for industrial and construction applications. Curtain walls are self-supporting and give a building's exterior the look of top to bottom glass. Along with a smooth exterior glass facade on buildings, they also provide an attractive architectural design, day-lighting, and thermal efficiency. The key driver for the growth of the glass curtain wall market is the growth in industrial and commercial construction activities. The increase in the number of construction activities around the world will drive the curtain wall market. The other factor that has driven the demand for these curtain walls include technological advancements and innovations in the glass industry.
Asia Pacific is projected to hold the largest share in the glass curtain wall market during the forecast period
Asia Pacific is projected to dominate the glass curtain wall market through 2023. Asia Pacific is the hub of foreign investments and booming industrial sectors largely due to the availability of low-cost labor and land. The increase in demand for glass curtain walls can be largely attributed to the growing infrastructure and building & construction industries. The demand for glass curtain walls is growing rapidly in the region, owing to the high growth in the infrastructure sector for an aesthetic appeal.
Key players operating in the Glass Curtain Wall Market include Saint-Gobain (France), Asahi Glass (Japan), Central Glass (Japan), Guardian Industries (US), Nippon Sheet Glass (US), Avic Sanxin Co., Ltd (China), Schott AG (Germany), China Glass Holdings Limited (Hong Kong), Vitro (Mexico), and Xinyi Glass Holdings Limited (Hong Kong). These players have adopted various growth strategies to expand their global presence and increase their market share. Mergers & acquisitions, expansions, investments, new product launches, and partnerships are some of the major strategies adopted by the key players operating in the glass curtain wall market.
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