The global aluminum curtain wall market was valued at USD 31.60 billion in 2019 and is expected to grow at a CAGR of 9.2% during the forecast period. The aluminum curtain wall system is the non-structural covering of the high-rise residential buildings and offices. It is an enclosure within buildings, which acts as a barrier to the environmental forces, and supports only its weight, without putting any extra pressure on the building core structure.
Curtain walling systems, apart from their own, do not carry the building’s dead load weight. Aluminum is lightweight, and cost-effective than steel makes it an ideal choice for the modern curtain wall system. Aluminum is also cheaper to procure, as it is widely available, also considered as a green product, which can be recycled without any loss in product quality. The product is designed to fight against water and air pollutants, swayed by wind or storms.
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The increased focus of market players for the energy-efficient curtain walls has also spurred the global aluminum curtain wall industry over the assessment period. Commercial buildings, auditorium, and sports arena require high energy requirements and accounted for around 50 percent of the total energy requirement. Key market manufacturers in the aluminum curtain wall industry are focusing on green and efficient buildings to contain energy and other operation costs by using environmentally sustainable building materials.
Government initiatives coupled with increased recognition of popular brands among consumers in the market about the environmental problems also driving the aluminum curtain wall industry. These aluminum curtain wall systems offer high energy efficiency and low greenhouse gas emissions. The aforementioned market facts pave good demand for the aluminum curtains. Moreover, rapid urbanization in emerging countries such as India, Japan, China, Indonesia, and Thailand are likely to drive the construction market of offices and residential buildings.
The market is primarily segmented on the basis of type, application, and region.
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Based on the type, the global aluminum curtain wall market is categorized into stick-built, unitized, and semi-unitized. The unitized segment accounted for the largest share of over 55% in 2019, and the likely to exhibit lucrative market growth over the projected period. This market growth scenario is owing to its numerous benefits such as high efficiency, low labor and installation costs, and low site operability. The fabrication process for such systems is also reliable, as their assembly lines could be easily constructed under controlled conditions.
The stick-built aluminum curtain wall segment held a significant share in the global aluminum curtain wall industry in 2019 and is likely to witness significant growth over the forecast period. For such systems, assembling takes place on-site, which facilitates detailing and customization according to the client’s specific needs. The semi-unitized segment is anticipated to exhibit moderate growth over the assessment period.
Based on application, the global aluminum curtain wall industry is categorized into residential, commercial, and public. In 2019, the commercial segment accounted for the majority of the market share during the assessment period. The growth of infotainment, shopping complexes, malls, hotels, and recreational buildings in both emerging and developed worlds were responsible for the segment's high market share. Moreover, the developed world has strong legislation to implement green building laws, so the developers are moving towards aluminum curtain walls.
Moreover, the surging market demand for retail space and rising investments in physical infrastructure also contributing to the aluminum curtain wall segment’s growth. The residential segment is projected to register a lucrative growth rate over the study period. the booming housing sector is primarily responsible for that. Housing sector growth is induced by both private and government-sponsored schemes.
Geographically, the global aluminum curtain wall industry is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Asia Pacific market is the largest revenue contributor followed by Europe and North America region. Asia Pacific region accounted for the largest aluminum curtain wall market share over the forecast period. The region includes countries with densely populated cities, where an uprising middle-class population seeks to have accommodation, schools, offices, universities, and other residential projects to invest in.
The region is anticipated to account for more than half of the global construction activities in the market. Moreover, government-sponsored investments in the form of smart city and greenfield projects and favorable policies also contributed to the region’s aluminum curtain wall industry growth. The developed world is likely to witness a moderate market growth rate over the forecast period. The region’s aluminum curtain wall growth is primarily attributed to an increasing spending on construction activities, strong demand for sustainable green building, and streamlined legislation.
The prominent players in the aluminum curtain wall industry include HansenGroup Ltd., Alumil Aluminium Industry S.A., GUTMANN AG, Kawneer Company, Inc., EFCO Corporation, Sapa Building Systems Ltd, Schuco International, Josef Gartner GmbH, and Kalwall Corporation. The companies in the marketplace are focusing on strengthening their regional presence through collaboration with smaller regional players to stay in the competitive environment.
For instance, in 2017, the U.S.-based market player Apogee Enterprises completed the acquisition of EFCO Corporation. With this acquisition, the company entered the mid-sized commercial market segment, extended its portfolio of offerings, and expanded its distribution network in the country.