The global facade market size is expected to reach USD 336.6 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% from 2021 to 2028. The market is estimated to witness healthy growth over the forecast period owing to the development of advanced materials with capabilities that offer safety as well as visually appealing texture. Moreover, this exterior building face carries the attribute of both appearance and superior performance in a mode, unlike any other building system, which is expected to fuel the demand for the product over the next few years. The soaring need to lower heating and air-conditioning costs and achieve energy-efficiency is slated to stir up the demand for facades over the coming years. Growing focus on the development of sustainable products is likely to work in favor of the market.
The
burgeoning popularity of green buildings and surging demand for
high-transparency glasses that allow passage of light, while maintaining heat
resistance, are poised to shape the future of the market. The market is
projected to witness the application for high-performance and energy-saving
solar control facades, which will contribute to higher economic benefits and
eco-sustainability. Furthermore, the initiatives and regulations by government
bodies, technological advancements, and the need for energy conservation are
estimated to propel the market growth over the next seven years. The Green
Building Initiative (GBI), a non-profit building assessment and certification
organization in the U.S., awards ratings and prescribes principles for reducing
the environmental impact. Such principles opted by companies may further spur
the growth of the smart buildings industry, thereby stimulating the demand for
smart building monitoring through facades.
Incidences
of severe building fires have prompted public concern over the safety of facade
materials. Facade materials play a vital role in fire safety as it is the outer
part of the building that is directly in contact with fire. In addition, it is
essential to select the cladding material at the design stage based
on material combustion characteristics to significantly protect the buildings
from fire. Thus, it is estimated to fuel the overall façade demand globally
from 2021 to 2028.
Furthermore,
the ongoing COVID-19 pandemic has had an adverse impact on the overall
construction and real estate industry and subsequently, hampered market growth.
However, with the announcement of economic relief packages across key
countries, such as the U.S., India, the U.K., Germany, and others, the demand
for facades is anticipated to see notable growth over the next seven years.
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Facade Market
Report Highlights
- By product,
the ventilated facades segment is anticipated to exhibit the fastest CAGR
over the forecast period owing to its energy-saving advantages and rich
aesthetics
- Various
government initiatives towards infrastructure development and a rise in
the PPP model are encouraging the construction of commercial properties
across the globe, which is subsequently propelling the market growth
- The
commercial end-use segment held the leading revenue share in 2020 owing to
the significant adoption of façade products for buildings in commercial
applications, such as offices, airports, stadiums, and hotels, globally
- Asia Pacific
dominated the market with a share of over 35.0% in 2020 owing to the growing
construction of new commercial and industrial buildings in China, India,
and Southeast Asia
- Several
prominent players are strategically concentrating on establishing
partnerships and agreements to acquire big projects in order to boost
their overall sales and profitability
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Facade Market
Segmentation
Grand View Research has
segmented the global facade market on the basis of product, end use, and
region:
Facade Product
Outlook (Revenue, USD Million, 2017 - 2028)
- Ventilated Facades
- Curtain walls
- Others
- Non-ventilated Facades
- Others
Facade End-use
Outlook (Revenue, USD Million, 2017 - 2028)
- Commercial
- Residential
- Industrial
Facade Regional
Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Poland
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa (MEA)
- Saudi Arabia
- Kuwait
- Bahrain
- Qatar
- UAE
- Oman
List of Key
Players of Facade Market
- Rockpanel Group (ROCKWOOL B.V.)
- Aluplex
- Bouygues
- Enclos
- EOS Framing Limited
- Saint-Gobain Group
- AFS International B.V.
- Kingspan Group
- Lindner Group
- Fundermax
- Gartner (Permasteelisa Group)
- HansenGroup
- Hochtief
- National Enclosure Company, LLC.
- Schuco International (OTTO FUCHS KG)
- Skanska
- Trimo d.o.o.
- Norsk Hydro ASA
- YKK AP Inc.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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