DUBLIN--(BUSINESS WIRE)--The "Facade Systems Market by Type (EIFS, Curtain Wall, Siding, and Cladding), End Use (Residential and Non-residential), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The Façade Systems Market is Projected to grow from USD 272.7 Billion in 2018 to USD 397.2 Billion by 2023, at a CAGR of 7.8%
The rise in demand for residential buildings is projected to drive the overall growth of the facade systems market across the globe from 2018 to 2023.
The facade systems market is projected to grow from USD 272.7 billion in 2018 to USD 397.2 billion by 2023, at a CAGR of 7.8% during the forecast period. The growing industrial & construction activities drive the demand for facade systems. However, high raw material and installation costs are projected to inhibit the growth of the market.
In terms of value, the EIFS segment is projected to grow at the highest CAGR during the forecast period.
The EIFS segment in the facade systems market is projected to grow at the highest CAGR during the forecast period, in terms of value. The exterior insulation and finish system (EIFS) is a non-load bearing exterior wall treatment that utilizes rigid insulation boards on the wall sheathing with an exterior skin of plastic appearance. EIFS insulation materials are made of mineral wool, polystyrene foam, and plastic foam. EIFS offers excellent insulation properties and design flexibility and has been a popular choice for exterior building cladding for several decades.
In terms of volume, the residential segment is projected to lead the facade systems market from 2018 to 2023.
The residential segment is projected to lead the facade systems market from 2018 to 2023, in terms of volume. Facade systems are used in residential buildings, majorly in apartments, bungalows, dormitories, duplexes, and other house designs (townhouses, units, and villas). The use of facade systems in residential buildings has become more advanced and preferable, owing to the rising demand for greenhouse buildings. The spending in residential construction is estimated to witness a surge, particularly in the emerging Asia Pacific and South American regions; there is a trend of rapid urbanization observed in these regions, resulting in a higher growth rate for the residential construction market, as compared to developed markets.
Aesthetic appeal, along with properties such as durability and protection from extreme weather, has also driven the use of exterior wall systems in the residential sector. Other benefits such as fire protection and high thermal efficiency will further drive the demand. The most favorable materials for residential include fiber cement, vinyl, bricks, and wood.
In terms of both value and volume, the Middle East & Africa facade systems market is projected to grow at the highest CAGR during the forecast period.
In terms of both value and volume, the facade systems market in the Middle East & Africa is projected to grow at the highest CAGR from 2018 to 2023. The Middle Eastern countries are advanced in terms of per capita income and expenditure and have witnessed considerable growth in construction activities.
The rising demand for energy-efficient green buildings in the Middle Eastern & African countries is expected to drive the use of energy-efficient facade systems such as EIFS and glass curtain wall. These countries have been standardizing building and construction activities over the past few years, which is also expected to drive the growth of the facade systems market.
- Rise in Residential Construction and Infrastructural Activities
- Increase in Non-Residential Construction and Infrastructural Activities
- High Durability of Siding and Cladding Systems
- Technological Advancements in the Glass Industry
- Stringent Regulations to Reduce Greenhouse Gas Emission
- High Raw Material and Installation Costs
- Availability of Green Insulation Material
- Increasing Demand For Protective Systems and Enhancement in the Aesthetic Appeal of Buildings
- Rise in Population and Urbanization in Emerging Economies
- Increase in Demand For Fiber Cement in Siding Systems
- Increase in Demand For Sustainable Siding and Cladding Materials
- Policies & Regulations
- High Repairing Cost
- Lack of Awareness
- Asahi Glass
- Boral Limited
- Central Glass
- Dryvit Systems Inc.
- Etex Group
- Georgia-Pacific LLC
- Guardian Industries
- James Hardie Industries PLC
- Kingspan PLC
- Louisiana Pacific Corporation
- Nichiha Corporation
- Nippon Sheet Glass
- Parexgroup SA
- Sto SE & Co KGaA
- Terraco Group
- USG Corporation
- Universal Cement Corporation (UCC)
- Vinh Tuong Industrial Corporation (VTI)
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