Asia Pacific Curtain Wall Market Size

Asia Pacific Curtain Wall Market Size

Asia Pacific Curtain Wall Market size was valued at USD 12.7 billion in 2023 and is anticipated to register a CAGR of 7.9% between 2024 and 2032. This growth has been attributed to a variety of factors such as rising urbanization, booming construction industry, rising disposable income, trend of rising aesthetics of living spaces. The Asia Pacific construction industry is experiencing a period of phenomenal growth, particularly in developing economies like China and India.

To get key market trends

  Download Free Sample

According to the Associated Chambers of Commerce and Industry of India (ASSOCHAM), the Indian construction sector is poised to reach a remarkable USD 7.9 trillion by 2025, translating to a CAGR of 7.8%. This immense construction activity implies to a constant demand for building materials, and curtain walls play a crucial role. Their modern aesthetics and ability to create light-filled, energy-efficient spaces make them particularly attractive for commercial buildings, shopping malls, and high-rise residential developments. Also, rapid urbanization across the region is creating a demand for high-rise buildings and skyscrapers.
 

According to a World Bank report states that by 2030, Asia will be home to 60% of the world's urban population. These large-scale urban development projects heavily utilize curtain walls for their exceptional aesthetics, energy efficiency, and ability to maximize natural light within buildings. This trend is expected to continue propelling the growth of the Asia Pacific curtain wall market in the coming years. Furthermore, the growth of disposable income in Asia Pacific is projected to grow at a healthy rate, with the region experiencing the fastest growth globally.
 

According to the U.S. Energy Information Administration, total disposable income in Asia Pacific is expected to reach USD 20.5 trillion by 2024.This implies to the increased in consumer spending, fueled by the purchase of home improvement items, fuled by the desire to look and feel factor of the living spaces as People are investing in creating a visually appealing and comfortable living environment, curtain walls contribute significantly to this trend by offering a sleek, modern aesthetic that elevates the exterior of a home.
 

One major concern in the growth of the Asia Pacific curtain wall market is the heavy reliance on aluminium, which can impact the market by changes in its prices. The Aluminium Industry Association (ASIA) reports that in 2023, China remained the world's largest consumer of aluminium, accounting for over 50% of global demand. This dependence on imports makes Asian curtain wall manufacturers particularly vulnerable to global aluminium price fluctuations. For curtain wall manufacturers and contractors, these price hikes can significantly erode profit margins.
 

A survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) among Indian curtain wall companies in 2023 revealed that over 60% of respondents experienced a profit margin decline due to rising aluminium costs. Manufacturers and suppliers can tackle this by diversifying material sourcing by building partnerships with aluminium producers across different regions can help reduce dependence on a single source and potentially lead to more stable pricing and by exploring alternate materials, such as steel or composite panels for specific curtain wall applications can offer cost-effective options.