Over the past 30 years, with the sustained and rapid development of my country's national economy and the acceleration of urbanization, my country's building curtain wall industry has achieved leap-forward development from scratch, from foreign capital domination to domestic enterprises, from imitation and introduction to independent innovation. By the beginning of the 21st century, my country has developed into the world's largest producer and user of the curtain wall industry. At present, my country has become the world's largest curtain wall door and window market. The demand for building curtain wall doors and windows accounts for more than 2/3 of the total global demand, of which glass curtain walls account for more than 60% of all curtain walls. Other high-tech curtain wall products (smart curtain wall, ecological curtain wall, membrane structure curtain wall, etc.) accounted for a relatively small proportion, less than 4%. According to China Building Decoration Association's "Twelfth Five-Year" Development Plan for China's Building Decoration Industry, by 2015, the output value of China's building curtain wall industry will reach 400 billion yuan, and the average annual compound growth rate during 2011-2015 will reach 21.7% .

The actual situation is that in 2016, the total output value of my country's building curtain wall projects was 342 billion yuan, an increase of 2 billion yuan or 0.6% over 2015. Compared with the 400 billion yuan in the "Twelfth Five-Year Plan", there are 50 billion yuan. gaps left and right.

Chart 1: my country's total output value and trend of building curtain wall projects from 2010 to 2017 (unit: 100 million yuan, %)

building curtain wall 1

Source: Compiled by Qianzhan Industry Research Institute

Market prospect of building curtain wall industry: policy blessing, it will grow to 550 billion yuan in 2020

The "Thirteenth Five-Year" Development Plan for the Building Decoration Industry pointed out that during the "13th Five-Year Plan" period, the average annual growth rate of the building decoration industry is expected to remain at about 7%, and the total annual output value of the project will increase from 3.4 trillion yuan in 2015. To the annual total output value of 4.7 trillion yuan. Among them, the size of the public building decoration market will increase from 1.74 trillion yuan in 2015 to 2.3 trillion yuan, with an average annual growth rate of about 6.5%; the residential decoration market size will increase from 1.66 trillion yuan in 2015 to 2.4 trillion yuan. The average growth rate is about 8%; the market size of building curtain wall will increase from 340 billion yuan in 2015 to 550 billion yuan, with an average annual growth rate of about 11%; the engineering design industry will increase from 95 billion yuan in 2015 to 167 billion yuan, The average annual growth rate is around 12%.

Chart 2: 2015-2020 my country's total output value and forecast of building curtain wall projects (unit: 100 million yuan, %)

Building Curtain Wall 2

Source: Compiled by Qianzhan Industry Research Institute

Market application structure of building curtain wall industry: commercial buildings account for the largest proportion of total curtain wall consumption in China

From the perspective of market application, with the rapid advancement of China's urbanization process, a huge number of large-scale public buildings, commercial buildings and high-end residential buildings are emerging, which is an important reason for the rapid growth of China's building curtain wall demand in recent years. According to the "2018-2023 China Building Curtain Wall Industry Market Prospect and Investment Strategic Planning Analysis Report" released by the Prospective Industry Research Institute: from the statistics of curtain wall bidding in recent years, commercial buildings account for the largest proportion of China's total curtain wall consumption, accounting for about 66.80%; followed by public buildings, accounting for about 30.10%; high-end residential accounted for the smallest, about 3.1%.

Chart 3: Market application structure of building curtain wall industry (unit: %)

Building Curtain Wall 3

Source: Compiled by Qianzhan Industry Research Institute

From the perspective of market potential, as the contradiction between the occupation of arable land for urban construction in my country and the guarantee of food security has become increasingly acute, the available land in urban areas, especially in developed coastal areas, is approaching the limit. Therefore, high-rise and super-high-rise buildings are the best choice, while curtain walls are The best outer protective structure for high-rise buildings. In addition, China is the country with the largest number of super high-rise buildings under construction and planned. The number of buildings over 150 meters tall and under construction accounts for 41.40% of the world's total, and the number of buildings over 200 meters tall accounts for 48.50% of the world's total. This will further promote the curtain wall industry. developing.

Competition pattern of building curtain wall industry: competition in the industry is becoming more and more fierce

With the explosive growth of my country's curtain wall industry in the past, the competition in the industry has become more and more sufficient. On the one hand, companies from other fields of the construction industry continue to enter the curtain wall industry; on the other hand, the development of the original curtain wall enterprises has gradually begun to differentiate, showing a trend of strong and constant strength. According to the scale of curtain wall enterprises and the way they cut into the curtain wall business as the standard, Qian Zhan divides the current companies in the building curtain wall industry into three camps. The specific categories are shown in the following table:

Figure 4: The three camps of my country's building curtain wall industry

Building Curtain Wall 4

Source: Compiled by Qianzhan Industry Research Institute

From the perspective of the industry competition pattern, with the explosive growth of my country's curtain wall industry, the competition in the industry has become increasingly fierce. The growth model of the curtain wall industry has changed from the pursuit of scale to the pursuit of comprehensive benefits. Price is no longer the only competitive indicator for curtain wall enterprises. The competition in the industry will increasingly develop towards refined services, engineering design capabilities, management and innovation capabilities. .