Glass Curtain Wall Market

Market Overview

The global glass curtain wall market size was valued at USD 52.39 billion in 2022. It is estimated to reach USD 110.99 billion by 2031, growing at a CAGR of 8.7% during the forecast period (2023–2031).

The expansion of environmentally friendly architecture in countries such as the United States of America, the United Kingdom, India, France, and Germany is predicted to contribute to the expansion of the market House glass or metal panels are the main components of fronts with glass curtain walls, while the fronts are framed with lightweight aluminum. These glazing materials cannot support the weight of the roof or the floor. They are unable to support the weight of the ceiling either. Integrating these glass curtain walls with the nearby structural elements, such as the roofs and wall claddings, must be done with extreme care. Prefabricated systems, customized and custom wall modules, and generalized wall modules are just a few of the many variations available for the product.

Modern architecture is distinguished by curtain walls, frequently made of glass and aluminum frames. These products are employed in businesses and high-rise and low-rise apartment complexes for nationwide residents. A significant increase in the number of construction projects being undertaken globally will stimulate the growth of the glass curtain wall business throughout the period covered by this projection. An increased focus on improving building energy efficiency and increased funding for the development of environmentally friendly buildings will drive the growth of the glass curtain wall market over the period under review.

Market Dynamics

Global Market Drivers

Rapid Urbanization and Growth of the Construction Industry

Due to the spike in demand for homes, businesses, and public buildings, the glass curtain wall industry is always growing. The construction sector is projected to contribute significantly more to the global economy. The need for glass curtain walls is anticipated to develop significantly in light of the urban population and construction sector growth.

Furthermore, the global building industry has been impacted by growing urbanization. The world's emerging economies, where urban population growth is concentrated, are also critical for developing glass curtain walls due to their rapid infrastructural developments. Rapid urbanization in developing nations is driving up demand for high-quality public services and infrastructure in those nations. Therefore, government initiatives to improve airports, educational facilities, hospitals, parks, and other public places will generate significant profitable business prospects for the market competitors.

Surge in Focus Toward Affordable and Green Buildings

As a result of an increase in population and a scarcity of land suitable for residential development, there has been an uptick in demand for inexpensive and environmentally friendly buildings. Some of these cheap homes are developed utilizing a construction method known as modular construction. In addition, expenditures made in residential and commercial buildings are a significant factor in determining the market's growth for glass curtain walls. Due to rising disposable income levels and progress made in new product categories, there is a considerable demand for the construction of residential complexes and other types of buildings.

In addition, it stimulates demand for the refurbishment of older structures and the construction of new buildings, both of which drive the desire for energy-efficient glass curtain walls. In addition, the expansion of environmentally friendly architecture in countries such as the United States of America, the United Kingdom, India, France, and Germany is predicted to contribute to the expansion of the market.

Global Market Restraint

Increase In Prices of Raw Materials

Due to various economic and speculative factors, the cost of glass curtain wall materials has increased significantly over the past few years. Iron, aluminum, and steel are some of the main raw materials glass curtain wall producers utilize. Manufacturers may be vulnerable throughout the value chain due to the shifting pricing of certain raw materials. Large companies are frequently the primary material suppliers. These companies can raise the price of raw materials, which raises the cost of inputs because of their ability to pass on rising commodity costs. As a result, it is projected that the growth of the glass curtain wall sector will be constrained throughout the projection period by the unstable and rising prices of metals and other commodities.

Government-led strict rules, taxes, and prohibitions against metals, deforestation, and other commodities have significantly reduced manufacturers' sales and earnings. On the buyer's side, manufacturer businesses must provide their goods to significant and influential consumer goods corporations, who cannot pass on price increases to end users without putting other suppliers on notice. Manufacturers of glass curtain walls incur increased expenses due to fluctuating raw material prices and the absence of some raw materials in some areas, which restrains the market's expansion.

Global Market Opportunities

Government Investments in the Building Infrastructure Sector

There have been many different initiatives done by governments concerning infrastructure development. The growth of investments in the real estate market drives up the need for glass curtain walls to construct infrastructure projects in various other industries. The Investing in Canada plan, which is a comprehensive, long-term plan for establishing a successful and inclusive country in Canada through historic infrastructure investments, was put into action by the government of Canada.

Additionally, the expansion of the construction industry in the United States is being fuelled by the reduction of taxes, the introduction of new tax incentives, relatively cheap lending rates, and the expansion of the economy. The federal government of the United States intended to invest one trillion dollars in the nation's infrastructure using money from both public and private sources of funding. As a result, market participants are expected to have access to attractive prospects due to government investments in the building infrastructure sector.

Regional Analysis

Based on region, the global glass curtain wall market is bifurcated into North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific Dominates the Global Market

Asia-Pacific is the most significant global glass curtain wall market shareholder and is estimated to exhibit a CAGR of 9.7% over the forecast period. Asia-Pacific is anticipated to be a leading market and a supporter of market progress due to a rise in the need for residential buildings. A high growth rate in the Asia-Pacific glass curtain wall market is projected due to rising economies. India and China are the most populous nations in the Asia-Pacific region, with a dense population overall. This drives real estate and business markets. Growing demand for glass curtain walls in the commercial sector is anticipated to promote market progress in developing nations like China and India.

In addition, the rapid urbanization and population growth in Asia-Pacific are factors in the market's expansion. The installation of renovation and repair projects in industrialized nations increases demand for glass curtain walls. Due to the nation's increasing urbanization and commercialization, rise in income levels, expansion in population, and increase in family income, the building market is also anticipated to grow. The market is anticipated to develop due to increased demand for glass curtain walls from both the residential and commercial sectors.

North America is anticipated to exhibit a CAGR of 8.6% over the forecast period. Regarding revenue, North America is the second-largest market for glass curtain walls. Due to the building sector's expansion and the popularity of modular construction projects, the glass curtain wall market is growing quickly in North America. Numerous businesses are growing their operations through various tactics to keep up with the increased demand for modular construction. Under the terms of the agreement, HWH is anticipated to become SGB's preferred partner for completing site preparation and single-family container-based modular home assembly. Due to the increase in end users' spending power, the market in the area also demands premium-range glass curtain walls.

Furthermore, the demand from the residential sector is anticipated to be driven by an increase in population and expanding urbanization, consequently accelerating the need for cheap housing units. The residential sector's significant increase in demand for infrastructure maintenance and repair is also anticipated to drive market expansion in the area. The number of infrastructure and new development projects has increased, which has given participants in the glass curtain wall market greater chances.

Europe is economically the strongest region. Moderate growth in residential and commercial construction activities in the region is expected to slow market growth. The majority of this growth is expected from the UK, Germany, and Italy, which are expected to witness increased demand for new and innovative glass curtain walls, thus positively impacting the demand for glass curtain walls. Europe's glass curtain wall market has encountered a huge demand driven by high disposable income, increased construction expenditure, low interest rates, and high net migration. Increasing residential and commercial construction activities and expenditure on European home improvement will boost the glass curtain wall market growth.

Moreover, increased construction expenditure drives the glass curtain wall market growth. Russia contributes to around 50% of the overall construction expenditure in Eastern Europe, and this expenditure is expected to rise owing to the construction of infrastructure and structures, such as stadiums, hotels, and retail buildings, thereby accelerating the glass curtain wall market. As a result, the demand for glass curtain walls is expected to witness a significant demand.

In LAMEA, an increase in demand for glass curtain walls from the residential and commercial sectors is driving the market. The increase in spending on non-residential development is anticipated to grow rapidly. Qatar and the UAE continue to be prosperous investment locations. Increases in disposable income, urbanization, and population growth will create further market expansion potential. In the residential sector, this scenario is anticipated to increase demand for small-scale, affordable infrastructure. The residential market in the Middle East, which in turn promotes the expansion of the glass curtain wall market, is driven by increased consumer expenditure because of better household net worth and improvements in general economic conditions.

Segmental Analysis

The global glass curtain wall market is bifurcated into type, glazing application, and end-user.

Based on the type, the global market is bifurcated into unitized and stick systems. 

The unitized systems segment dominates the global market and is projected to exhibit a CAGR of 8.9% over the forecast period. Large units that are put together at a workshop or a plant, transported to the place, and then integrated into structures comprise a unitized glass curtain wall system. The typical frame height is around one story, made of aluminum profiles. Infill panels, glass, and opening vents are constructed into units before they are delivered to the location. The increasing demand for these systems in the commercial sector is one of the elements promoting the growth of the segment of unitized glass curtain walls. These systems are designed to be the external glazed structures of corporate and commercial buildings because they are fastened to the outside of the buildings and do not support or lift the weight of the floor or the roof.

In addition, more of these systems are being installed due to characteristics including excellent insulation and high aesthetic appeal. Additionally, since the unitized panels are separated by linking gaskets, they do not transfer impact noises horizontally from room to room or floor to floor, which supports the market's continued expansion.

Based on glazing application, the global market is bifurcated into exterior-glazed and interior-glazed. 

The exterior glazed segment owns the highest glass curtain wall market share and is predicted to exhibit a CAGR of 9.3% over the forecast period. An exterior glazed system has panels fitted from outside the curtain wall; nevertheless, they may be difficult to fit since they require scaffolding access. An interior glazed system does not have panels that are fitted from the outside of the curtain wall. The market has seen the introduction of extremely effective exterior glazed glass curtain walls by major market participants. For instance, Pilkington, which is a trademark owned by Nippon Sheet Glass Co., Ltd., is in the business of selling planar structural glass systems. These systems can provide flush glass surfaces in the shape of facades, canopies, roofs, or even clothe a full building.

A building receives protection from the elements and glazing on its façade from this feature. In addition, the capacity of the materials used in them to allow for light transmission is driving the expansion of the market. This capability manifests through tints, glazing options, and shading techniques. In addition, there has been a surge in commercial construction activity over the past few years.

Based on end-users, the global market is divided into commercial, public, and residential. 

The commercial segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 8.7% over the forecast period. Due to its high cost and demand, the commercial sector accounts for the biggest proportion of the market for glass curtain walls. To increase solar heat gain and visible light, glass curtain walls are utilized in many commercial buildings, including stores and showrooms. High-quality glass curtain walls are available from suppliers including Vision Glass, Vitro, and Saint-Gobain SA. The rise in commercial construction and real estate costs drives the need for glass curtain walls in the business sector.

In addition, commercial glass curtain walls are more expensive than residential ones, providing a sizeable profit margin for important vendors. Selective glass curtain walls are now available for various commercial structures, including hotels, showrooms, and shopping centers. Smooth exterior glass facades provide environmental management, daylighting, air infiltration, water elimination, appealing architectural design, and thermal efficiency. These elements support the development of the glass curtain wall market, improve energy effectiveness, offer a protective covering for huge commercial structures, and lower cooling and heating expenses.

Recent Developments

• February 2023- One Madison Avenue’s new glass curtain wall began installation in the Flatiron District, Manhattan.
• October 2021- Permasteelisa Group, a leading global contractor in the building industry, announced the completion of the facade for the Dubai Creek Tower, which features a glass curtain wall system that is more than 6,000 square meters in size.