Exterior Wall Systems Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
The global ''exterior wall systems market''size is projected to reach USD 364.61 billion by 2027,exhibiting a CAGR of 7.2% during the forecast period. Increasing urbanizationworldwide will be one of the most prominent factors fueling the growth of thismarket, observes Fortune Business Insights™ in its report, titled “ExteriorWall Systems Market Size, Share & COVID-19 Impact Analysis, By Material(Vinyl, Ceramic Tiles, Plasterboard, Glass Panel, EIFS, Fiber Cement, WoodBoard, HPL Board, Bricks & Stone, and Others), Type (Ventilated Façade,Curtain Wall, and Non-Ventilated Façade), End-Use (Residential, andNon-Residential), and Regional Forecast, 2020-2027”. The UN WorldUrbanization Prospects 2018 estimates that nearly 70% of the global populationwill be housed in urban areas by 2050.
According to the UN, India, China, andNigeria will be the global urban hotspots, adding 416 million, 255 million, and189 million urban dwellers, respectively, in the next three decades. Urbanareas typically comprise a large of residential and commercial infrastructuresthat require efficient and effective external protection from inclementweather, natural disasters, and pollution. Exterior wall systems provide thisprotection to buildings owing to their properties of thermal insulation and theability to prevent excessive water penetration that can weaken structuralintegrity. Thus, rapid growth in urban spaces around the globe will createexcellent opportunities for players in this market.
The report states that the globalmarket value was at USD 213.45 billion in 2019 and offers thefollowing:
- The detailed evaluation of the market trends, drivers, and restraints;
- Granular examination of the different market segments;
- A careful study of the regional and competitive developments influencing the market growth; and
- Panoramic overview of the overall industry outlook and prospects.
Restraining Factor
Subdued Construction Activities amidCOVID-19 to Restrict Market Growth
The exterior wall systems market growthis expected to get hit in 2020 as the COVID-19 pandemic has caused a severedownturn in construction activities worldwide. In August 2020, the London-basedRoyal Institution of Chartered Surveyors (RICS) reported that only 20% of thehalted construction projects around the globe are likely to restart in thepost-pandemic period.
Furthermore, with a quarter of theconstruction projects on pause and on-site productivity falling by 12%, theRICS predicts that the financial repercussions of these developments will haveto be borne by the construction industry over the next twelve months. Thedemand for exterior wall systems will inevitably in the face of such direcircumstances as these products are heavily dependent on the constructionindustry, especially in emerging economies such as India and China. Moreover,falling demand and economic fallout of the pandemic has delayed investments innew construction technologies, which will create hindrances for this market.
Regional Insights
Infrastructural Development EnableRapid Market Expansion in Asia Pacific
With a market size of USD 86.45billion, Asia Pacific commanded the exterior wall systems market share in 2019and is expected to continue its exceptional performance during the forecastperiod. This expectation from the region is based on the massive investments bygovernments in India and China to support infrastructural development. Morespecifically, these countries are aggressively implementing policies andadopting advanced technologies to build sustainable critical infrastructuressuch as airports and railways, which is likely to spike the demand for exteriorwall systems in the region.
In Europe, favorable policies of theEuropean Union (EU) supporting the construction of energy-efficient buildingsin the continent are accelerating market growth in the region. In NorthAmerica, the speedy uptake of highly sophisticated construction technologiesand materials will propel regional market growth.
Competitive Landscape
Development of Sustainable InsulationSolutions by Key Players to Augment Market Potential
Key players in this market are concentrating their resources and technologiestowards developing next-gen, sustainable exterior and interior insulationsolutions for the construction industry. To further enhance their R&Dcapacity, companies are also forging alliances with other players as well as engagingin acquisition activities.
Industry Development:
September 2020: Saint-Gobain announced the takeover of the Dutchexternal insulation specialist, Strikolith. The acquisition will allowSaint-Gobain to expand its offerings in External Thermal Insulation CompositeSystems and construction chemicals in the Netherlands.
List of Key Companies Profiled in theExterior Wall Systems Market Report:
- Dow (U.S.)
- USG Boral (Australia)
- Evonik Industries AG (Germany)
- Etex Group (Belgium)
- 3A Composite Holding AG (Switzerland)
- Saint-Gobain (France)
- Sika AG (Switzerland)
- DuPont (U.S.)
- LafargeHolcim (Switzerland)
- Owens Corning (U.S.)
- SCG (Thailand)
- PPG Industries, Inc. (U.S.)
- AGC Inc. (Japan)
- Nippon Sheet Glass Co., Ltd (Japan)
Browse Detailed Summary of Research Reportwith TOC:
https://www.fortunebusinessinsights.com/exterior-wall-systems-market-104394
Detailed Table of Content:
- Introduction
- Research Scope
- Market SegHouseholdtation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Market Trends in the Global Market
- Key Developments: Mergers, Acquisition, Partnership, etc. .
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights Impact of COVID 19 on Global Exterior Wall Systems Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Exterior Wall Systems Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Material (Value)
- Vinyl
- Ceramic Tiles
- Plasterboard
- Glass Panel
- EIFS
- Fiber Cement
- Wood Board
- HPL Board
- Bricks & Stone
- Others
- By Type (Value)
- Ventilated Façade
- Curtain Wall
- Non Ventilated Façade
- By End-Use (Value)
- Residential
- Non-Residential
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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