Storefront Glass Market By Type, By Distribution Channel, By End User: Global Opportunity Analysis and Industry Forecast, 2023-2032

Executive Summary

Storefront glass expected to Reach $ 13.3 Billion by 2032

According to the report titled, 'Storefront glass by type, distribution and end user: Global Opportunity Analysis and Industry Forecast, 2023-2032,”
The global storefront glass market was valued at $5.6 billion in 2020, and is projected to reach $13.3 billion by 2032, growing at a CAGR of 7.3% from 2023 to 2032.

Storefront glass is a particular type of glass that is used to create the exterior facade of structures used for commerce and retail. The translucent or transparent barriers that glass used in storefronts is meant to produce are meant to let light into the building while enabling a view inside the business. Glass storefronts are a crucial component of commercial design because they give businesses a stunning display area while also making an appealing and eye-catching entrance.

The market for storefront windows and doors is anticipated to grow as a result of the increase in the development of commercial and institutional buildings. Due to their huge metropolitan populations and high levels of disposable income, major nations including the U.S., China, Germany, and India are predicted to be prospective markets for the construction of commercial spaces. The World Bank estimates that 56% of people live in urban areas worldwide, and that number is predicted to rise to 70% by 2050. Buildings like retail stores, hotels, and other commercial real estate are expanding considerably and are giving the expanding urban population the infrastructure, they need. Additionally, the IT sector and other service sector professions are in high demand in nations like China and India, which is a major factor in the development of commercial buildings used as offices. For instance, the demand for office space is forecast to increase in India, with urbanization in Delhi-NCR, Mumbai, and Bengaluru all expected to increase at the same time, according to the India Brand Equity Foundation (IBEF). Additionally, storefront glasses were necessary for this kind of commercial and institutional building in order to provide materials that were both aesthetically pleasing and robust. increasing number of construction projects as a result.

However, storefront glass required regular cleaning and maintenance to keep it looking its best. The glass may become covered with dirt, dust, and other environmental factors, which could have an impact on how it appears. Additionally, the price of raw materials required in the manufacture of glass is increasing because storefront glasses are made with recycled waste, limestone, and sodium carbonate as ingredients. These are the primary factors that will restrict and impede the market's rate of growth.

By Type: The market is bifurcated into safety/limited glass, insulated glass and other. Based on type, the insulated glass segment held the highest market share in 2020 and is estimated to maintain its leadership status throughout the forecast period. Increase use of insulated glass due to its various advantages such as it offers stable heating and cooling efficiency. In addition, insulated storefront glass helps in maintaining a stable indoor temperature, reducing the strain on HVAC (heating, ventilation, and air conditioning) system, and extending their lifespan. This is particularly appearing to the building on a seeking to optimize their HVAC- related expenses. Hence, such an advantage propels the growth of the market during forecast periods. Increasing awareness regarding safety and security in commercial and retail spaces propelled the growth of safety laminated storefront glasses during forecast periods. In addition, laminated glasses segment is expected to grow at a highest CAGR as it offer wide range of advantage to building owners such as impact of resistance and shatterproof properties as businesses and property owners prioritized the protection of their assets, employers, and customers, laminated storefront glasses, with the impact of resistance and setup proof properties, become essentials. Additionally, distinct building codes and regulations made the use of safety glasses, propeller demand for limited options. The desire for aesthetically pleasing design in storefront that also security further fuel adoption of laminated glass, making it preferable choice for both new construction and renovation. n addition, aging post tension structures face corrosion, deterioration, and structural deficiencies. Many builders, government, and asset owners are increasingly investing in repair and rehabilitation to ensure safety and functionality of crucial infrastructure.

Furthermore, several commodities, including food items, oil, and gas, saw a surge in price due to the Russia-Ukraine conflict. With supply chain interruptions, there are more expensive shipping costs, fewer available containers, and less warehouse space. Since there have been delays in shipments and congestion, certain ports have been closed, and orders are being retracted, which influences industry and consumers globally. The decline in investor confidence has also increased the stock market volatility. Economic instability has risen due to the strained commercial ties between Russia, Ukraine, and their different trading partners. Hence, all such factors have reduced export possibilities.

By Distribution Channel: The market is segmented into online and offline. The online segment held the highest market share in 2020, and is estimated to maintain its leadership status throughout the forecast period. The demand for storefront glasses being purchased online has been steadily growing as the convenience of online shopping has transformed the way consumers shop for products, including storefront glasses and other construction materials. Customers can browse and compare a wide range of options from the comfort of their own homes, avoiding the need to visit multiple physical stores. This helps to save time and offers better range. In addition, the competitive pricing and discounts offered by online retailers can make purchasing storefront glass more cost-effective. Online sellers frequently have lower overhead costs and can pass these savings on to customers. Moreover, the convenience of doorstep delivery is another driving factor. Glass products can be heavy and fragile, making traditional in-store purchases less appealing when compared to the ease of having them delivered to one's doorstep.

Thus, such factors are expected to drive the demand for storefront glasses been purchased online. However, the offline segment is projected to manifest the highest CAGR of 7.7% from 2023 to 2032. The demand for storefront glasses being purchased offline, through traditional brick-and-mortar stores, is experiencing growth as some consumers prefer the tactile and hands-on experience that physical stores offer. They can see and touch the actual product, assess its quality, and measure how it might fit into their specific needs. This level of interaction can be particularly important for items like storefront glass, where aesthetics and functionality are critical. In addition, the ability to inspect the glass for imperfections and ensure it meets quality standards is another reason for the growing demand in offline purchases. Customers can personally scrutinize the glass for any flaws or damage, reducing the risk of receiving damaged goods. Thus, such factors are maintaining the demand for storefront glasses purchased via stores.

Segmental Overview

The storefront glass market is segmented into type, distribution channel, end user, and region. The type in the study includes safety/limited glass, insulated glass and others. By distribution channel, the market is bifurcated into online and offline. By end user, it is segmented into stores, showrooms, and others. By region, the storefront glass market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

COMPETITION ANALYSIS

The key companies profiled in the storefront glass market report include Asahi Glass, Nippon Sheet Glass Co., Ltd, Promat International, PPG Industries, Tubelite, Alcoa, C.R. Laurence, Guardian Industries Corporation, Compagnie de Saint-Gobain and Sisecam Group.

Major companies in the market have adopted acquisition, product launch, business expansion, and other strategies as their key developmental strategies to offer better products and services to customers in the storefront glass market.

KEY FINDINGS OF THE STUDY

The report provides an extensive analysis of the current and emerging trends and dynamics.

By type, the insulated segment was the largest revenue generator in 2020.

By distribution channel, the online segment generated the highest revenue in 2020.

By end user, the stores segment generated the highest revenue in 2020.

By region, North America generated the highest revenue in 2020.

Companies Mentioned

• C.R. Laurence
• Alcoa Corp
• Promat International
• Guardian Industries
• PPG Industries
• Nippon Sheet Glass Co., Ltd
• Tubelite
• Sisecam Group
• Asahi Glass
• Compagnie de Saint-Gobain

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.