Exterior Wall Systems Market Report 2024: A Comprehensive Analysis of Market Trends, Growth Drivers, and Key Players
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LONDON, LONDON, UNITED KINGDOM, November 29, 2024 /EINPresswire.com/ -- What is the exterior wall systems market size and its future growth prospects?1
The exterior wall systems market size has grown rapidly in recent years. It will grow from $216.3 billion in 2023 to $239.17 billion in 2024 at a compound annual growth rate CAGR of 10.6%. The growth in the historic period can be attributed to various factors including the construction boom, sustainable building practices, rapid urbanization and population growth, and an increase in building renovation and retrofitting.
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How is the exterior wall systems market projected to grow in the future?3
Looking ahead, the exterior wall systems market size is expected to see strong growth in the next few years. It will grow to $341 billion in 2028 at a compound annual growth rate CAGR of 9.3%. The growth in the forecast period can be attributed to factors such as energy-efficient retrofitting, increasing urban density and vertical construction, efforts towards climate change adaptation, the development of pandemic-resilient buildings, and a surge in green building certification.
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What are the key trends shaping the exterior wall systems market?2
Major trends in the forecast period include an increased focus on energy-efficient insulation, advances in facade design and aesthetics, the use of digital building information modeling BIM, development of smart wall systems and an increasing preference for modular and prefabricated wall systems.
What is driving the growth of the exterior wall systems market?
The growing demand for green buildings is contributing to the growth of the exterior wall systems market. Green building and eco-friendly infrastructure reduce carbon emissions, energy consumption, and water consumption. For instance, according to a report by ANAROCK, a real estate services company, the demand for green buildings in India is expected to double by 2022, reaching nearly 10 billion sq ft, and is expected to be valued at $35-50 billion. Therefore, the growing demand for green buildings will drive the growth of the exterior wall systems market.
Who are the major players in the exterior wall systems market?
Major companies operating in the exterior wall systems market include Nippon Sheet Glass Co.Ltd., Saint-Gobain Gyproc India, Sika AG, Etex Group Co., Owens Corning, Evonik Industries AG, Holcim Group Co., USG Boral Corp., DuPont Inc., Fletcher Building Co., Egger Group, Toray Industries Inc., CSR Ltd., CRH plc, Cornerstone Building Brands Co., Schweiter Technologies AG, AGC Inc., James Hardie Australia Pty Ltd., Alcoa Corporation, 3A Composites, Avient Corporation, Louisiana-Pacific Corporation, Nichiha Corporation, Cornerstone Building Brands, The Dow Company, Boral Limited, Siam Cement Group, USG Corporation, Kingspan Group, Cembrit Holding A/S, Tata Steel Limited, ArcelorMittal Corp., Nippon Steel & Sumitomo Metal Corporation, BlueScope Steel Limited, Ruukki Construction Oy, Alubond U.S.A., Alstrong Enterprises India Pvt. Ltd., Aludecor Lamination Pvt. Ltd., Alumax Panel Inc., Alumil S.A.
What is the latest buzz in the exterior wall systems market?
Product innovations are a key trend gaining popularity in the exterior wall systems market. Companies in the market are launching new, innovative products. For example, in March 2021, DuPont, a chemical company based in the United States, introduced the new DuPontTM Tedlar® polyvinyl fluoride PVF film for laminating exterior wall and roofing panels.
How is the exterior wall systems market segmented?
The exterior wall systems market covered in this report is segmented as follows –
1 By Type: Ventilated Fascade, Curtain Wall, Non-Ventilated Fascade
2 By Materials: Bricks And Stone, Metal Panels, Plaster Boards, Fiber Cement, Ceramic Tiles, EIFS, Glass Panels, High-Pressure Laminate boards, Fiberglass Panels, Wood Boards, Other Materials Vinyl
3 By End-Use: Residential, Commercial, Industrial
Regional Insights: Asia-Pacific dominates the exterior wall systems market
Asia-Pacific was the largest region in the exterior wall systems market in 2023. Asia-Pacific is also expected to be the fastest-growing region in the exterior wall systems market during the forecast period. The regions covered in the exterior wall systems market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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