The facades market is expected to witness a CAGR of around 5.7%, to reach at USD 180 billion over the forecast period.
Unprecedented growth in the construction sector has been witnessed with the new residential building and remodeling/renovation projects owing to the rapid urbanization. This is backed by the technological advancement in emerging nations which have been instrumental in generating demand for building material and components including façades. The development of energy saving façade materials has been one of the innovations which has been seen with the development of energy saving façade materials. With such development of advanced materials along with increased focus on aesthetics and safety capabilities, the facades market is anticipated to gain momentum in the coming years.
The global facades have been segmented into regions of North America, Europe, Asia-pacific, and Rest of the world (RoW). North America and Europe accounted for the largest share in the overall facades market followed by Asia-Pacific, in 2017, which will continue with its dominance by 2023. This is attributed to the increasing investments in R&D for advanced materials in these countries. Asia-Pacific region holds a sizeable share in the market after North America and Europe. The region has witnessed increasing number of construction projects backed by robust investments in the commercial as well as residential construction in the countries such as China and India. This is expected to fuel the demand for facades in the Asia-Pacific region in coming time.
Global Facades Market: Segmentation:
The global facades market has been segmented on the basis of product, material, and end-user. On the basis of material, the market has been classified into glass, wool, aluminum, and others. Product segment is further sub-segmented into ventilated, and non-ventilated. End-user segment is classified into residential, commercial, and industrial.
Based on material, the market has been bifurcated into glass, wool, aluminum, and others. Glass and aluminum hold larger market share owing to their properties such as durability and flexibility. Glass as a material is preferred over others by the construction developers due to their light-weight which can in turn reduce the weight on the foundation of the building. The usage of glass in facades also leads to reduced energy consumption and low maintenance costs.
Based on product, the segment is further classified into ventilated, and non-ventilated. The ventilated facades market is expected to witness a high growth rate over the forecast period. The ventilated facades exhibit various benefits in terms of energy saving and better aesthetic appeal as these are available in attractive designs, colors, and textures. In addition to this, these also offer properties such as soundproofing, and reduced air-conditioning and heating cost.
Based on end-user, the segment is classified into residential, commercial, and industrial. The commercial segment was the dominant segment in 2017. Rapid expansion of multi-national companies and manufacturing units has resulted in the construction of more office spaces, along with allied manufacturing units. This is backed by increased spending by the corporates on various developments. This in turn has generated lot of demand for facades in the commercial segment. Hence, commercial segment is projected to contribute significantly over the forecast period.
Key players include Enclos Corp. (US), Permasteelisa S.p.A. (Italy), Walters & Wolf (US), Jinjiu Sci-Tech New Material Co. (China), Harmon Inc. (US), Rautaruukki Corporation (Finland), Hansen Group (Denmark), EOS Facades Limited (England), Rockpanel Group, and National Enclosure Company, LLC (US). The global facades market is highly competitive with many players, across the globe. The players adopted various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include new product developments in terms of advanced material, mergers, and acquisitions, along with strategic partnerships, and collaborations.
|Market Size||2023: USD 180 Billion|
|CAGR||5.71% CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Technology, by Application, by Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Enclos Corp. (US), Permasteelisa S.p.A. (Italy), Walters & Wolf (US), Jinjiu Sci-Tech New Material Co. (China), Harmon Inc. (US), Rautaruukki Corporation (Finland), Hansen Group (Denmark), EOS Facades Limited (England), Rockpanel Group, and National Enclosure Company, LLC (US)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Projected facades market valuation would be USD 180 billion.
The projected CAGR of facades market would be 5.7% during the forecast period.
North America and Europe would enjoy the largest facades market share.
Growing investment in R&D to trigger growth for facades market in Europe.
The growth in APAC would be triggered by growing construction activities.