Balustrade Market is anticipated to expand at a CAGR of ~5% during the forecast period 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. 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 highquality 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,
Balustrade Market is anticipated to expand at a CAGR of ~5% during the forecast period
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