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/EIN News/ -- New York, US, June 01, 2022 (GLOBE NEWSWIRE) -- Curtain Wall Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Curtain Wall Market Information by Construction Type, System, End-Use, and Region - Forecast till 2030”, the market is estimated to grow at a 9% CAGR to reach USD 151.4 Billion by 2030.
Curtain walls are thin metal-framed walls that generally contain in-fills of metal panels, glass or thin stones. Aluminum is the most popular type of metal that is used for developing curtain wall frames.
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The important companies in the curtain wall market are:
Key vendors in the curtain walls market are mostly focused on developing personalized solutions as well as standard products to meet the demands of the worldwide customer base. Investments in novel materials, large-scale R&D projects, and partnerships are a few focus areas of the affluent manufacturers. Companies are also focusing on aggressive promotion, marketing, and trade expo participation to bolster their positions in the worldwide industry.
The surging urbanization rate combined with the heavy investments in infrastructure renovation as well as development are fostering the demand for curtain walls. Ongoing innovations in building construction materials along with technologies could also augment the use of curtain walls in commercial and residential buildings. Although curtain walls do not offer structural stability, they protect from external elements like accidental fire, UV light, and weather changes.
Modern architecture focuses completely on using advanced tools as well as designs that offer sustainable and improved aesthetics. Curtain wall provide unique and sophisticated appearance to buildings. Moreover, real estate developers are progressively using curtain walls, integrating these into commercial building projects to meet the demand of the hospitality and corporate sectors.
Heightened demand for sustainable buildings combined with the surging number of government initiatives aimed at developing smart cities can be some of the major opportunities for curtain wall developers. The manufacturers are majorly engaged in rigorous research and development activities for producing high-performance solutions to cater to the changing preferences of the end-users.
The high installation costs of curtain walls can be a major challenge for the worldwide market in the long run. The volatile prices of the chief raw materials like aluminum, iron, and steel can also have a negative impact on the global market.
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The curtain wall market has been significantly affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under a lockdown, to control the rising cases. Owing to this, the demand and supply chain have been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.
The volatile costs of raw materials that are used for developing curtain walls along with the COVID-19 pandemic have restricted the growth rate of the market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth.
Depending on end-use, the curtain walls industry caters to commercial as well as residential. The commercial segment can be further divided into hospitality, office spaces, shopping malls, educational institutes, healthcare, and more. The commercial segment is currently heading the worldwide market for curtain walls, in terms of volume and value. The huge preference for smooth exterior facades in buildings, aesthetic architectural design, environmental control, thermal efficiency, and day-lighting are a few key reasons for the robust growth of the curtain wall market within the commercial buildings segment.
With respect to construction type, the curtain walls market has been segregated into refurbishment along with new construction. It is anticipated that the new construction segment should occupy a higher share in the market compared to its counterpart, in the following years.
System-wise, the curtain wall market has been considered for semi-unitized, stick-built, and unitized. In the global market, the unitized segment forms the biggest share as this system offers numerous benefits including quality control, water, and air filtration, and so on. The unitized curtain wall segment will also capture a higher growth over the conjectured period. The segmental expansion can be attributed to the substantial demand for unitized curtain walls in the worldwide commercial industry. These types of curtain wall systems are developed to be used as external glazed systems in buildings.
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As the biggest market for curtain walls, Asia Pacific stands to benefit from the rapid expansion of the building and construction sector with robust investments in smart city projects. Additionally, with the hospitality industry progressively spending on the renovation of resorts and hotels, in countries like Malaysia, Thailand, and Singapore, there has been strong growth in tourism. Governments in most of the developing countries of the region like India are focusing on the development and refurbishment of the existing infrastructure to facilitate urbanization as well as industrialization.
North America along with Europe holds a huge share in the worldwide market and will continue to maintain strong momentum all through the given period. The heavy investments in extensive research and development activities for producing higher quality products along with materials in the UK and the US will be huge growth boosters in the coming years. Robust demand among major end-users for eco-friendly curtain walls that cut down the pollution levels and elevate moisture resistance in significant precipitation locations will intensify the market growth as well.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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