"Innovative Market Solutions to Help Businesses Make Informed Decisions"
The global exterior wall systems market size was USD 213.45 billion in 2019 and is projected to reach USD 364.61 billion by 2027, exhibiting a CAGR of 7.2% during the forecast period.
An exterior wall system is an envelope or an enclosure of a building designed to protect the covered interior from the external environment. Rising private and public investments across residential, industrial, and commercial establishments are driving the demand for these systems. The growing construction industry in developing countries and technological advancements in construction techniques are the factors responsible for the growth of this market. Moreover, the introduction of new regulations and reforms to develop the real estate sector is also boosting market prospects. Additionally, stringent regulations on energy efficiency and green buildings are assisting the growth of the market.
Halted Construction Activities and Supply Chain Disruptions amid COVID-19 to Hinder Growth
The onset of COVID-19 has deeply affected the performance of the construction industry. Worldwide, construction activities have been halted due to the regulations on maintaining safe social distance to contain the spread of the virus. The restrictions on transportation & logistics of raw materials have disrupted the supply chains of several companies. Small-scale companies have shut down their projects to conserve cash and avoid liquidation. Commercial and industrial sectors have been struggling owing to lockdowns imposed by various governments. The weakening of major national economies has affected most of the world’s population, which has impacted residential construction heavily. The above-mentioned factors have slowed the exterior wall systems market growth.
Request a Free sample to learn more about this report.
Exterior Wall Systems for Green Buildings to Boost the Market
Constructions that do not implement energy-saving technologies and materials end up wasting up to 25-30% of energy. Developments in modern construction methods and the incorporation of efficient wall systems offer significant advantages in the conservation of energy. The rising need for energy-efficient buildings is propelling the demand for exterior wall systems. Additionally, regulations by several governments regarding the construction of energy-efficient buildings combined with the use of environment-friendly construction materials are further boosting the market growth.
Rapid Growth in Construction Activities to Drive the Market
The growth in industrial, commercial, and residential construction activities around the globe is increasing the demand for exterior wall systems. Initiatives by governments that aim to develop infrastructures and modernize the existing ones are driving the growth of the market. The Government of India, for instance, allowed 100% FDI in selected construction projects. Rising disposable incomes coupled with increasing preference for dry construction methods over wet construction methods are further supporting market growth.
Additionally, these building systems are experiencing high demand owing to the growing need for efficient thermal management of buildings and the increasing awareness among consumers regarding environment-friendly façade solutions.
Regulations by Governments on Carbon Emissions to Hamper Growth
An exterior wall system comprises materials such as ceramics, insulation materials, cement, fiberboards, and vinyl. The number of pollutants and toxic emissions produced during the manufacturing of these materials are threatening the environment as well as posing risks to human health. As a result, governments in several countries are imposing strict regulations to limit carbon emissions from the construction industry, which are likely to restrain this market.
Glass Panels Segment to Hold Dominant Share in the Global Market
Based on material type, the market is segmented into vinyl, ceramic tiles, plasterboard, glass panel, EIFS, fiber cement, wood board, HPL board, bricks & stone, and others. The glass panel segment dominates the market owing to the ability of these panels to provide an aesthetic appeal and superior performance. With the implementation of new regulations promoting the use of glass panels and the introduction of smart glass, the demand for glass panels is expected to propel further.
Curtain Wall Segment to Make Rapid Progress
Based on type, the market is segmented into ventilated façade, curtain wall, and non-ventilated façade. The curtain wall segment is expected to grow at the highest rate due to factors such as reduced fabrication time and shorter duration of construction. Curtain walls minimize the damage caused by natural calamities and also provide protection from severe weather conditions, which will further drive the growth of the market.
The ventilated façade segment is displaying a considerable growth rate owing to the ability of these systems to regulate the amount of humidity and to act as effective outdoor protection.
To know how our report can help streamline your business, Speak to Analyst
Non-Residential Segment to Hold a Dominating Position in the Global Market
On the basis of end-use, the global market is segmented into residential and non-residential. The non-residential segment holds a dominating position in the exterior wall systems market share owing to the increase in the number of construction & infrastructure projects in emerging economies. Additionally, investments by foreign companies in developing countries combined with standardization in the building & construction industry are further supporting the growth of the non-residential segment.
Asia Pacific Exterior Wall Systems Market Size, 2019 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
The market size in Asia Pacific stood at USD 86.45 billion in 2019. Asia Pacific holds the largest share in the market. This dominance is attributable to the large number of construction projects undertaken in developing countries such as China and India. In China, the non-residential segment is witnessing high demand owing to the rise in the number of infrastructure projects such as the Shanghai Urban Rail Transit Expansion project and Beijing’s Daxing International Airport. Additionally, the increasing number of housing schemes and rising disposable incomes are the other factors responsible for the growth opportunities of the regional market.
In Europe, the rising trend of energy-efficient and green buildings is responsible for the growth of the market. In addition, steps taken by the European Union (EU) to convert energy-wasting buildings into energy-efficient structures will further drive the market.
To know how our report can help streamline your business, Speak to Analyst
Market growth in North America is owed to the implementation of advanced construction methods, which require less time duration. Furthermore, increasing inclination towards dry construction practices over wet construction practices in this region is increasing the demand for exterior wall systems.
In Latin America and the Middle East & Africa, the increasing demand for these systems can be attributed to the growth of the construction industry, which is supported by the schemes to improve the regions’ infrastructural development.
Key Players are Adopting Various Growth Strategies to Maintain Dominance in the Market
Product innovation is an important aspect for a company to cater to the growing demand for wall systems. Companies are focusing on developing innovative and environment-friendly products to increase their presence in the market. Partnerships with raw material suppliers and construction companies are the main strategies used by the key market players to increase their global presence and maintain their lead in the competition.
An Infographic Representation of Exterior Wall Systems Market
To get information on various segments, share your queries with us
The market research report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, end-use, disposable types, and distribution channels. Also, the report offers insights into market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the growth of the market over recent years.
Value (USD Billion)
Material; Type; End-Use; and Geography
Fortune Business Insights says that the global market size for exterior wall systems was USD 213.45 billion in 2019 and is projected to reach USD 364.61 billion by 2027.
In 2019, the market value stood at USD 213.45 billion.
Growing at a CAGR of 7.2%, the market will exhibit decent growth in the forecast period (2020-2027).
The non-residential segment is expected to be the leading segment under end-use in this market during the forecast period.
Rapid growth in construction activities worldwide will drive market growth.
Nippon Sheet Glass Co., Ltd., AGC, Inc., and Etex Group are some of the leading players in the global market.
Asia Pacific dominated the global market share in 2019.
Increasing stringency of energy conservation regulations will drive the adoption of exterior wall systems.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry