Australia's Balustrade Market: Trends, Growth, Key Players, Forecast 2032

A recent report from Allied Market Research, titled "Australia Balustrade Market by Railing Type, Material Type, and Application: Opportunity Analysis and Industry Forecast, 2020-2027," sheds light on the thriving Australian balustrade market. In 2019, this market was valued at $44.1 million, and it is expected to reach $54.5 million by 2027, showing a steady Compound Annual Growth Rate (CAGR) of 4.0% over the forecast period.

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This robust growth can be attributed to various factors, including the rise in urbanization, increased investments in home remodeling, and the resurgence of the construction sector. Many players in the railing and handrails industry are strategically expanding their businesses to capitalize on this growing market.

Interior railings took center stage in 2019, dominating the market in terms of revenue. This was due to increased spending in the residential construction industry. Looking ahead, the residential segment is expected to exhibit a higher CAGR, driven by the uptick in residential construction activities across the nation.

The balustrade market primarily encompasses two types: interior railing and exterior railing. Of these, interior railing commands the largest market share by value, driven by heightened demand from commercial spaces such as hotels and restaurants. The market is further segmented by application, distinguishing between residential and non-residential use. The growth of this market is heavily influenced by developments in the residential, commercial, and construction sectors. However, fluctuations in raw material prices present a challenge to the market's growth.

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When considering material types, glass emerged as the dominant player in 2019, accounting for about 4.9% of the market share in terms of revenue. It was followed by stainless steel and aluminum. The residential segment is experiencing significant growth, spurred by urbanization, increased spending on house remodeling, and ease of installation. Favorable government policies aimed at promoting the residential and commercial sectors further drive the demand for balustrades. Additionally, increased infrastructure spending and the replacement of aging buildings and structures are propelling the market forward.

The forecast indicates that the exterior railing segment will witness rapid growth in the coming years, thanks to increased investments in the development of commercial infrastructure throughout Australia.

It's essential to note that the COVID-19 pandemic had a significant impact on the Australian balustrade market. Lockdown measures forced many balustrade manufacturers to halt production, directly affecting sales. The supply chain was disrupted due to a lack of manpower and raw materials. However, the reopening of production facilities and the introduction of vaccines for COVID-19 are expected to pave the way for the revival of balustrade companies.

The Australian balustrade market has demonstrated substantial growth in the past decade, driven by urbanization, increased home remodeling spending, and the recovery of the construction sector. Several industry players are actively expanding their operations to secure their positions in this thriving market.

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Key market players include Absolute Balustrades, Advance Metal Industries (AMIA), Aluline, Aluminum Balustrades, Ammi Balustrades, Balustrading WA, Betta Balustrades, Oxworks, Protector Aluminum, and Ullrich.

Key Findings of the Study:

The report provides a comprehensive analysis of current and emerging trends and dynamics in the Australian balustrade market.

In 2019, the glass segment dominated the market in terms of revenue, and it is projected to maintain significant growth during the forecast period.

The non-residential segment registered the highest revenue in 2019 by application.

The Asia-Pacific region is expected to experience the highest growth rate in the coming years.

Interior railings were the leading revenue contributor in 2019, and the exterior railing segment is forecasted to exhibit significant CAGR during the forecast period.

The report offers an in-depth analysis of current trends and emerging opportunities in the Australian balustrade market, with estimations for key segments between 2020 and 2027.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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