Evolving Market Trends in Balustrade to reach a valuation of ~us$ 6 bn by 2027: TMR

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Balustrade Market: Introduction

The global balustrade market was valued at ~US$ 4 Bn in 2018 and is anticipated to expand at a CAGR of ~5% during the forecast period. Among materials, the stainless steel segment held a dominant share of the balustrade market in 2018, as stainless steel is extensively used across the world. Stainless steel usually contains a minimum of 13% of chromium, which can be up to 26% for harsh environments. Chromium creates a thin protective layer around the metal when exposed to oxygen. This passivation layer is resistant to water and air. This corrosion resistance property makes stainless steel ideal for use in balustrades.

Among railing types, the interior segment accounted for a major share of the balustrade market in 2018. Rise in the demand for railing for use in stairways and escalators in order to prevent injurious falling is expected to boost the segment in the near future. In terms of application, the non-residential segment constituted a significant share of the balustrade market in 2018, due to increase in the safety standards and measures to safeguard public health. The balustrade market in Asia Pacific is likely to expand at a substantial pace during the forecast period, owing to rapid urbanization and industrialization in the region. 

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Key Drivers of Balustrade Market

Rise in the adoption of energy-efficient building solutions is boosting the global balustrade market. The concept of eco-friendly or ‘green’ buildings has gained momentum worldwide over the last few years. Balustrade constructors have developed glass balustrades by combining safety with solar power generation. High-quality railings combine the generation of solar power with colorful appearance of buildings in an innovative manner. For instance, Kameleon Solar B.V. has designed solar balustrades equipped with high-quality glass solar panels. These panels offer a large amount of light transmission and thereby, ensure optimum energy yield. Moreover, placement of an inverter in each panel ensures excellent efficiency. The yielded energy and CO₂ savings can be measured in advance and monitored after installation. The sustainably generated energy can be used for central facilities, which include lighting of central areas, electric doors, and lifts. Thus, rise in the demand for energy-efficient building solutions worldwide is estimated to be a major factor driving the balustrade market during the forecast period. 

Asia Pacific an Attractive Region of Balustrade Market

Asia Pacific is anticipated to be a highly attractive region of the balustrade market during the forecast period, due to rapid industrialization and urbanization in the region, especially in countries such as China, India, and Japan. Demand for balustrades from the residential sector in Asia Pacific is likely to increase, owing to rise in investments in the construction sector in the region. Countries in the region are highly populated and they are developing at a rapid pace. This, in turn, is estimated to fuel the balustrade market in the region during the forecast period. 

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Major Developments in Balustrade Market  

On November 21, 2018, SG System Products developed a wide range of citadel brass balustrades, which are available in various options of surface finishes. The new finish makes the traditional richness of brass appear more antique. Surface finishes available are bronze, antique, and chestnut. In 2018, Onyx Solar Group LLC installed photovoltaic glass balustrades in an apartment in Melbourne, Australia. The entire residential building is fitted with Onyx Solar photovoltaic glass integrated into its facade. The energy produced by the photovoltaic glass offsets the cost of lighting, lifts, and other common facilities. 

Competition Landscape

The balustrade market is dominated by multinational as well as small players operating across the globe. Prominent players operating in the balustrade market are S3i Group, Ozone Overseas Pvt. Ltd., GOKING HARDWARE, Kelco Industries, ZENBI Co. Ltd, Wagner Architectural Systems, Thorndell Engineering, Q-railing Europe GmbH & Co. KG, C.R. Laurence Co., Inc., Absolute Balustrades, SWR Ltd., SG SYSTEM PRODUCTS, Steel and Glass Balustrades, and Securerail Ltd.

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Global Balustrade Market: Segmentation

Balustrade Market, by Railing Type

• Interior Railing
• Exterior Railing

Balustrade Market, by Material

• Stainless Steel
• Glass
• Wood
• Others (including Aluminum and Strand Wire)

Balustrade Market, by Application

• Residential
• Non-residential

Balustrade Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa 

The sustainability aspects have dramatically changes the raw material sourcing strategies for many businesses in the Balustrade market. Players have become more responsible toward reducing or managing the waste, are adopting material informatics equipped with artificial intelligence (AI), and adopting energy-efficient production processes in order to maximize returns on invested capital.

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