Glass Curtain Wall Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
The global glass curtain wall market size is projectedto reach USD 71.14 billion by 2027, exhibiting a CAGR of 7.3% during theforecast period. Increasing foreign direct investment (FDI) in commercialconstruction projects in developing economies will be a powerful driving forcefor the market, postulates Fortune Business Insights™ in its report,titled “Glass Curtain Wall Market Size, Share & COVID-19 ImpactAnalysis, By Product Type (Stick-built, Unitized and other), By Application(Commercial buildings and Residential buildings), and Regional Forecast,2020-2027”. Emerging economies in Asia and Africa are growing at afurious pace, which is creating enormous investment opportunities, particularlyin the real estate sector, for investors and companies in the developednations. With a view to attracting investments, governments in these countriesare simplifying processes and policies to create a friendly investment climate.
For example, in India, the centralgovernment is contemplating allowing 100% FDI in completed real estate projectsamid the COVID-19 pandemic. India already allows 100% FDI via the automaticroute in construction development projects. Large investments in commercial andresidential construction projects will naturally generate high demand for premiumbuilding aesthetics such as glass curtain wall systems, which will fuel marketgrowth.
As per the report findings, the globalmarket value stood at USD 48.06 billion in 2019. The mainhighlights of the report include:
- Actionable insights into the factors driving, constraining, and shaping the growth of the market;
- Comprehensive analysis of the key market segments;
- Exhaustive research into the regional developments impacting the market; and
- Detailed profiling and careful assessment of the key market players and their strategies.
Market Restraint
Contracting Construction ActivitiesWorldwide amid COVID-19 to Truncate Growth
Construction projects around the globehave hit a rock as governments in several countries have been imposing strictlockdown and social distancing measures to contain the spread of thecoronavirus. The UK-based Royal Institution of Chartered Surveyors (RCIS)reported in August 2020 that 25% of construction projects, globally, had cometo a halt in the second quarter of 2020, with on-site productivity falling by12%.
Furthermore, the RCIS estimated thatoverall growth in construction activities was -24% in the second quarter.Projects delays and cancellations look imminent and this will inevitably stymiethe glass curtain wall market growth as builders and developers are unlikely toinvest in and adopt high-end aesthetics such as glass curtain walls for theirconstructions. In the residential sector, diminished sentiments and economicdownturn, especially in developing nations, will further inhibit investments incostly structural enhancements, which in turn affect the health of this market.
Regional Insights
Asia Pacific to Command the MarketShare Backed by Strong Growth in Construction
Asia Pacific dominated the glasscurtain wall market share in 2019, boasting a market size of USD 20.04 billion.The singular reason for the region’s commanding position in the global marketis the robust growth of the construction industry in India, China, Thailand,and Vietnam.
The market in Europe is expected to perform impressively as commercialconstructions in Eastern European countries are rapidly increasing. Inaddition, the construction industry in the UK in thriving, bolstering theregional market growth. In the Middle East & Africa region, the market willbe led by the rich countries in the Gulf Cooperation Council (GCC), who arelooking to diversify their economies by promoting sectors other than oil &gas.
Competitive Landscape
Key Players to Capture CommercialConstruction Domain with Novel Solutions
The booming demand for commercialinfrastructures and constructions has created unprecedented opportunities forcompanies in the glass industry. In order to tap them, key players in thismarket are developing novel glass curtain wall systems to diversify theirofferings to potential customers and maximize revenues.
Key Industry Developments:
April 2020: Italy-based Gualini Spa announced that it will becompleting the extension project at the Orio al Serio, Italy’s third-largestairport in terms of passenger numbers. Gualini will also be supplying andinstalling stick curtain walls with external glazed facades to make thebuilding aesthetically pleasing.
April 2019: Vitro Architectural Glass installed two solarcontrol low emissivity glass solutions, which are part of the company’sunitized curtain wall systems, in Urban Union, Amazon’s headquarter expansionproject in Seattle. The site-built, high-performance glass products are aimedat making the building sustainable and energy efficient.
List of the Leading Companies Profiledin the Global Glass Curtain Wall Market are:
- Central Glass (Japan)
- AVIC Sanxin Co., Ltd (China)
- Guardian Industries (US)
- Vitro (Mexico)
- Asahi Glass (Japan)
- Saint-Gobain (France)
- Xinyi Glass Holdings Limited (Hong Kong)
- China Glass Holdings Limited (Hong Kong)
- Schott AG (Germany)
- Nippon Sheet Glass (US)
Browse Detailed Summary of ResearchReport with TOC:
https://www.fortunebusinessinsights.com/glass-curtain-wall-market-103912
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Trends
- Key Insights
- Key Insights – For Major Countries
- Key Developments
- Regulatory Standards
- PEST Analysis
- COVID-19 Impact Analysis
- Supply Chain Challenges
- Steps Taken by Government/Companies to combat COVID-19
- Potential Opportunities due to COVID-19 Outbreak
- Global Glass Curtain wall Market Analysis, Insights and Forecast, 2016-2027, By Product
- Key Findings / Summary
- Market Analysis, Insights and Forecast
- Stick-Built
- Unitized
- Others
TOC Continued…!
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