What's driving the Exterior Wall System Market Growth?
Posted by Mayur Yeole on February 26th, 2021
The APAC region held the maximum market share in 2018. This can be accredited to the rise in a number of construction projects in developing nations like India and China. The expansion of the construction industry in the region and government support for evolving the infrastructure is estimated to increase the demand for exterior wall systems in the Asia-Pacific region during the review period. Besides, the rising steal real estate investment and an increasing number of Special Economic Zones (SEZ) in emerging economies are the most critical factor influencing the market growth in the APAC region. The second position has been attained by North America, followed by Europe.
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As per the analysis by Market Research Future Reports (MRFR), the global exterior wall system market is estimated to expand at a CAGR of 8.04% from 2019 to 2024. The demand for the exterior wall is likely to be influenced by factors such as the preference of dry construction methods over wet construction methods and growing support for construction and the government’s initiative to promote the same. Governments from various countries are taking the initiative to implement several rules and regulations to aid the expansion of their real estate and infrastructure sector. Such initiatives are estimated to propel the global exterior wall system market 2020. The global exterior wall system market is competitive, with an average number of players across the world. The competitors adopt several new strategies to expand the market. Some of the major strategies adopted by them are cost-effectiveness, partnerships, and collaborations with manufacturers, and focus on a high-quality product. Besides, there has been a rise in global foreign direct investment (FDI) in the construction industry across the world. This has also resulted in a considerable expansion in construction projects and real estate. On the contrary, the growth of the global market can be restricted by the strict rules and regulations implemented by the government concerning the carbon emissions, capital cost, and high production cost.
On the basis of type, the global exterior wall system market can be segregated into Curtain Wall Systems, Ventilated Façade, and Non-Ventilated Façade. The ventilated façade vertical is likely to acquire the maximum share in the market.
On the basis of material, the global exterior wall system market can be segregated into Vinyl, Ceramic Tiles, Metal Panels, Wood Boards, Brick & Stone, High-Pressure Laminate (HPL) Boards, EIFS, Glass Panels, Fiberglass Panels, Plasterboards, and Fiber Cement. Among all, the glass panels vertical is estimated to seize a large share in the market.
On the basis of end-use, the global exterior wall system market can be segregated into Industrial, Residential, and commercial. The commercial vertical is estimated to acquire the largest share in the market.
The forefront players of the global exterior wall system market are Kronoplus Limited (Austria), ELEMENTIA (Mexico), USG BORAL (Singapore), Lafarge Holcim (Switzerland), Sika AG (Switzerland), CSR Limited (Australia), 3A Composites GmbH (Switzerland), Nippon Sheet Glass Co., Ltd (Japan), Owens Corning (US), Saint-Gobain (France), AGC Inc. (Japan), Fletcher Building (New Zealand), TORAY INDUSTRIES, INC. (Japan), EGGER Group (Austria), Evonik Industries (Germany), and a few others.
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About the AuthorMayur Yeole
Joined: February 8th, 2021
Articles Posted: 565
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