COVID19:Exterior Wall System Market — Global Industry Analysis and Forecast 2020 to 2027
Global Exterior Wall System Market: Key Highlights
- According to the new market research report “Exterior Wall System Market by Material (Ceramic Tiles, Glass Panels, Fiber Cement, Fiberglass Panels, Bricks & Stones, Vinyl, Others), by Type (Ventilated Façade, Curtain Walls, Non-ventilated Façade), by End-use (Residential, Commercial, Industrial) by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global Exterior Wall System market is estimated to reach USD 328.5 Billion by 2027 at a CAGR of around 7.3% during the review period.
- Exterior Wall System is a protective layer attached securely to the exterior side of the building system.
- They are enclosure or envelop of a building or structure and are designed in such a way to protect the covered and conditioned interior spaces from the surrounding environment such as unconditional rainwater and moisture ingress.
- Exterior wall systems are made by lightweight materials which help to complete faster construction and lowering the construction cost.
Global Exterior Wall System Market: Key Market Dynamics
- Rising rapid construction activities owing to increasing industrialization and urbanization has expected to propel the demand for exterior wall system market.
- Benefits offered by green buildings such as lower operational cost, lower carbon footprint, and low operational cost may pose the market opportunity.
- Higher production cost, initial capital investment, and the escalating price of raw materials are some of the factors which may hinder the growth of exterior wall system market .
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Global Exterior Wall System Market: Regional Overview
- Asia Pacific
The Exterior Wall System market in the Asia Pacific region is projected to witness high demand owing to increase construction activities of in countries like Japan, China, India, and others. This is attributed to increasing government budgets, rising standards in building codes, improving economic conditions, and higher demand for infrastructure development. For instance, according to Invest India in 2020, the construction industry in India is expected to grow at 5.6% in the year owing to projects such as smart city project, industrial corridors, and increasing demand for commercial space.
- North America
North America, exterior wall system market has anticipated propel the growth owing to the ongoing construction and renovation activities. According to U.S. Census Bureau, in May 2020 USD 1,001,209 million was spent on private constructions. Moreover, the infrastructure investment and smart city projects are contributing towards the growth of the market.
Global Exterior Wall System Market: Key Players Overview
- Evonik Industries AG:
Evonik Industries AG is a Germany-based specialty chemicals company. The company operates through four business segments namely Nutrition and Care, Resource Efficiency, Performance Materials and Services. Evonik Industries AG has its presence in more than 100 countries and generated revenue of USD 15 billion in 2019.
Saint-Gobain is one of the largest companies which designs, manufactures, and distributes building and construction materials such as ceramics, glass, plastics, and fiber cement products. It is one of the leading curtain wall manufacturers. The strong global presence and the adoption of growth strategies such as acquisitions, partnerships, divestments, and expansions have ensured its leading position in the market.
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