SAN FRANCISCO, Jan. 20, 2022 /PRNewswire/ -- The
global glass facade market size is
expected to reach USD 92.6 billion
by 2028, according to a new report by Grand View Research, Inc.
The market is expected to expand at a CAGR of 3.9% from
2021 to 2028. The market growth is attributable to the rising
penetration of glass as a construction material owing to benefits
such as aesthetics, cost-effectiveness, and energy efficiency.
Key Insights & Findings from the report:
- Based on revenue, the tempered segment is anticipated to
witness a CAGR of 4.1%, across the forecast period. The usage of
tempered glass in the facade of modern offices increases the
visuals aesthetically and reduces the energy consumption by making
maximum usage of natural light
- The rise in raw material and energy costs impacted industry
participants in 2021. For instance, in May
2021, Viracon notified its customers of a price increase on
quote requests received on or after May 12,
2021. This was due to an increase in prices of float and
coated glass by 8-13% by the primary glass suppliers within the
commercial architectural industry
- The threat of substitutes is anticipated to be moderate
owing to the presence of substitutes such as stone, cement, and
aluminum. Apart from the natural daylight and appealing looks,
aluminum offers all benefits such as being lightweight, high
strength, protection against harsh weather, and flexibility in
design. Moreover, it costs less than glass
- In terms of application, the rise in high-rise buildings
along with the growing number of single and multifamily housing
projects are expected to pose as growth drivers for the residential
segment
Read 116 page market research report, "Glass Facade
Market Size, Share & Trends Analysis Report By Product
(Insulated, Tempered, Laminated), By Application (Residential,
Non-Residential), By Region, And Segment Forecasts, 2021 -
2028", by Grand View Research
The principal front of a building facing a street or open space
is known as facade. Different types of glass such as tempered,
laminated, and insulated are used in the exterior facade of both
residential and non-residential buildings. Increasing investments
in construction activities are expected to boost market growth over
the forecast period.
Based on product, the market is segmented into tempered,
insulated, laminated, and others. Insulated is anticipated to
dominate the global market across the forecast period. IGUs are
extensively preferred in green buildings as it minimizes ecological
footprint and is made from multiple glass panes, which reduces the
heat transfer.
Increasing environmental concerns have resulted in the rising
number of green building projects, which is anticipated to boost
product demand over the forecast period. For instance, in 2021,
Nestle's headquarter buildings decided to incorporate smart glass
from Sage Glass company to give its
structures an energy upgrade. The new glazing offers a beautiful
outdoor view to employees, plenty of natural light, and regulates
the influx of heat from the sun.
In terms of application, the residential segment is anticipated
to register a higher growth rate over the forecast period. The
benefits of glass as a facade material and increasing investments
in housing construction are anticipated to augment the segment
growth. For instance, in India, as
per the 2021 - 22 budget allocation, total expenditure in the
Ministry of Housing and Urban Affairs is estimated at INR
54,581 crore (~USD 7,366.7 million), which is 14% higher than
the previous FY.
Region-wise, Asia Pacific is
anticipated to register a CAGR of 4.5%, in terms of revenue, across
the forecast period. The increasing infrastructural developments
and manufacturing growth are factors propelling the demand for
glass facades in Asia Pacific.
Large investment projects in developing regions like Southeast Asia are further anticipated to
boost the market growth.
Furthermore, the market is dominated by key manufacturers with
high competition for market share acquisition. The market players
are keen on overcoming their losses made in 2020 owing to the
COVID-19 pandemic. The year 2021 brought a slight relief from the
pandemic impact, as the players are now reporting positive
sales.
Market Segmentation:
Grand View Research has segmented the glass facade market on
the basis of product, application, and region:
- Glass facade Product Outlook (Volume, Kilotons; Revenue, USD
Million, 2017 - 2028)
-
- Tempered
- Insulated
- Laminated
- Others
- Glass facade Application Outlook (Volume, Kilotons; Revenue,
USD Million, 2017 - 2028)
-
- Residential
- Non-residential
- Glass facade Regional Outlook (Volume, Kilotons; Revenue,
USD Million, 2017 - 2028)
-
- North America
-
- Europe
-
- Germany
- U.K.
- Russia
- France
- Italy
- Asia Pacific
-
- China
- India
- Japan
- Australia
- Latin America
-
- Middle East & Africa
-
List of Key Players of Glass Facade Market
- AGC Inc.
- Asahi India Glass Limited
- Euroglas GmbH
- GUARDIAN INDUSTRIES
- Nippon Sheet Glass Co., Ltd.
- Saint-Gobain
- Sisecam Group
- Vitro
Check out more studies related to building facades, published
by Grand View Research:
Facade Market – The global facade market size was
valued at USD 217.9 billion in 2020
and is expected to expand at a compound annual growth rate (CAGR)
of 6.4% from 2021 to 2028. The rise in construction-related
activities has been an important factor in driving the market.
Building-integrated Photovoltaics Facade Market –
The global building-integrated photovoltaics facade market size was
valued at USD 818.2 million in 2018
and is expected to register a CAGR of 25.3% during the forecast
period. The product is experiencing high demand, primarily from the
developed economies that have a well-established electricity
sharing system.
Browse Through Grand View Research's coverage of the
Global Specialty Glass, Ceramic & Fiber
Industry.
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enabled intuitive market research database of 10,000+
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About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
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Grand View Research, Inc.
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