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Exterior Wall Systems Market Size, Share & Industry Analysis, By Material (Vinyl, Ceramic Tiles, Gypsum/Plasterboard, Glass Panel, EIFS, Fiber Cement, Wood Board, HPL Board, Fiberglass Panel, Bricks & Stone, and Others), By Type (Ventilated Façade, Curtain Wall, and Non-Ventilated Façade), By End-use (Residential and Non-Residential), and Regional Forecast, 2024-2032

Last Updated : April 01, 2024 | Format: PDF | Report ID: FBI104394

 

KEY MARKET INSIGHTS

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The global exterior wall systems market size was valued at USD 237.53 billion in 2023 and is projected to grow from USD 256.04 billion in 2024 to USD 466.57 billion by 2032, exhibiting a CAGR of 7.8% during the forecast period.


Exterior wall systems are an envelope or 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 have surged the demand for wall systems. The growing construction industry in developing countries and technological advancements in construction techniques are responsible for the market's growth. Moreover, introducing new regulations and reforms to develop the real estate sector also boosts market prospects. Additionally, stringent regulations on energy efficiency and green buildings are assisting the market growth.


The COVID-19 pandemic had a staggering impact on the construction industry. Construction activities across the globe were halted due to regulations on maintaining safe social distancing to contain the spread of the virus. Restrictions on the movement, transportation and logistics of raw materials disrupted supply chains and negatively impacted the global market. However, the gradual opening of the economies from 2021 resulted in a slow market recovery.


Exterior Wall Systems Market Trends


Incorporation of Exterior Wall Systems in Green Buildings to Boost Market Growth


Constructions that do not implement energy-saving technologies and materials waste up to 25-30% of energy. Developments in modern construction methods and the incorporation of efficient exterior wall systems offer significant advantages in energy conservation. The rising need for energy-efficient buildings will propel the demand for exterior wall systems. Additionally, regulations by several governments to promote energy-efficient building construction and the use of environment-friendly construction materials are further boosting the market growth. For example, the European Union’s energy performance of building directives will help clients reach their building and renovation goals outlined in the European Green Deal.


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Exterior Wall Systems Market Growth Factors


Rapid Growth in Construction Activities to Drive Market Progress


The growth in industrial, commercial, and residential construction activities around the globe is increasing the demand for exterior wall systems. Government initiatives to develop infrastructures and modernize the existing ones are driving market growth. The Government of India, for instance, allowed 100% FDI in select construction projects. Rising disposable incomes and increasing preference for dry construction methods over wet ones will further support the demand for exterior wall systems.


Increasing Focus on Energy Efficiency and Sustainability to Drive Market Growth


The rising emphasis on energy efficiency and sustainability is driving exterior wall systems market growth. As governments implement strict building codes and regulations to mitigate climate change, there is a growing demand for building materials and systems that enhance energy performance and reduce environmental impact. Exterior wall systems play a pivotal role in achieving these objectives by providing superior insulation, minimizing heat loss and reducing overall energy consumption in buildings.


The integration of sustainable materials, such as recycled content and renewable resources, into exterior wall systems further reinforces their appeal to environmentally conscious developers and architects. As a result, the market is experiencing robust growth as stakeholders prioritize sustainable building practices and seek innovative solutions to improve energy efficiency in construction projects.


RESTRAINING FACTORS


Regulations by Governments on Carbon Emissions to Hamper Market Growth


The exterior wall systems comprise materials such as ceramics, insulation materials, cement, fiberboards, and vinyl. The amount of pollutants and toxic emissions produced while manufacturing these materials are threatening the environment and 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 market growth.


Exterior Wall Systems Market Segmentation Analysis


By Material Analysis


Glass Panel to Gain Notable Traction Owing to its Superior Properties


Based on material, the market is segmented into vinyl, ceramic tiles, gypsum/plasterboard, glass panel, EIFS, fiber cement, wood board, HPL board, fiberglass panel, 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. The implementation of new regulations, such as the EU’s proposed plan to move from the current zero-energy buildings to zero-emission buildings by 2030, is promoting the use of glass panels and the introduction of smart glass. Thus, the demand for glass panels is expected to increase further.


The rising demand for thermal insulation in residential buildings owing to regulations pertaining to energy savings is boosting the growth of the EIFS segment. The functionality, aesthetics, and visual appeal offered by ceramic tiles have fueled their consumption.


By Type Analysis


Curtain Walls to be Widely Demanded due to their Robust Use in the Construction Industry


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 reduced fabrication time and shorter duration of construction. Curtain wall systems minimize the damage caused by natural calamities and provide protection from severe weather conditions, which will further drive the market growth.


The ventilated façade segment is displaying a considerable growth rate owing to the ability of these systems to regulate humidity and act as an effective outdoor protection solution. The advantages offered by non-ventilated façades, such as design freedom for architects, time efficiency, high-quality insulation and noise damping, are aiding the segment’s growth.


By End-use Analysis


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Non-Residential to Increase Product Use Due to Rising Construction and Infrastructure Projects


On the basis of end-use, the market is bifurcated into residential and non-residential. The non-residential segment dominates the market share owing to an increase in the number of construction and infrastructure projects in emerging economies. Additionally, investments by foreign companies in developing countries and standardization in the building & construction industry will further support the non-residential segment's growth.


Rapidly growing population, urbanization activities, and increasing investments in the real estate sector are contributing to the growth of the residential segment. Furthermore, the rising demand for energy-efficient residential spaces is another factor boosting the segment growth.


REGIONAL INSIGHTS


Asia Pacific Exterior Wall Systems Market Size, 2023 (USD Billion)

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Asia Pacific holds the largest exterior wall systems market share. This dominance is attributed 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 product adoption owing to the increasing 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 regional market's growth.


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In Europe, the rising trends of energy efficiency and green buildings are responsible for the regional market's growth. In addition, steps taken by the European Union (EU) to convert energy-wasting buildings into energy-efficient ones will further drive the market.


In North America, the implementation of advanced construction methods significantly reduces time duration, thereby boosting product adoption. Furthermore, the increasing inclination toward dry construction practices over wet ones in this region will increase the demand for products.


In Latin America and the Middle East & Africa regions, the strong 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.


List of Key Companies in Exterior Wall Systems Market


Key Players are Adopting Various Growth Strategies to Maintain Dominance in the Market


Product innovation is important 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. Additionally, the key players are involved in the research & development of sustainable wall solutions.


LIST OF KEY COMPANIES PROFILED:



  • Nippon Sheet Glass Co., Ltd (Japan)

  • Saint-Gobain (France)

  • AGC Inc. (Japan)

  • Sika AG (Switzerland)

  • PPG Industries, Inc. (U.S.)

  • 3A Composite Holding AG (Switzerland)

  • SCG (Thailand)

  • Etex Group (Belgium)

  • Owens Corning (U.S.)

  • Evonik Industries AG (Germany)

  • LafargeHolcim (Switzerland)

  • USG Boral (Australia)

  • DuPont (U.S.)

  • Dow (U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • December 2021 - Evonik Industries' CALOSTAT Pad expanded its portfolio of mineral-based, non-combustible, and high-performance insulation materials. CALOSTAT Pad is an excellent insulating material for façade elements, vented curtain walls, flat roofs and balconies, building components, basement ceilings, and underground parking structures, and for optimizing technical building equipment.

  • November 2020 – Etex acquired Knauf’s plasterboard business in Australia. With this development, the company will expand its footprint in the Australian construction market with significant growth opportunities. The acquisition was subjected to customary closing conditions.


REPORT COVERAGE


An Infographic Representation of Exterior Wall Systems Market

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The market research report provides detailed market analysis and focuses on crucial aspects such as leading companies, end-use, disposable types, and distribution channels. Also, it offers insights into market dynamics and trends, highlighting vital industry developments. In addition to the abovementioned factors, the report encompasses various factors contributing to the market's growth in recent years.


Report Scope & Segmentation



















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 7.8% from 2024 to 2032



Unit



Value (USD Billion)



Segmentation



By Material



  • Vinyl

  • Ceramic Tiles

  • Gypsum/Plasterboard

  • Glass Panel

  • EIFS

  • Fiber Cement

  • Wood Board

  • HPL Board

  • Fiberglass Panel

  • Bricks & Stone

  • Others



By Type



  • Ventilated Façade

  • Curtain Walls

  • Non-ventilated Façade



By End-use



  • Residential

  • Non-Residential



By Geography



  • North America (By Type, By Material, By End-use, By Country)

    • U.S. (By End-use)

    • Canada (By End-use)



  • Europe (By Type, By Material, By End-use, By Country)

    • Germany (By End-use)

    • France (By End-use)

    • U.K. (By End-use)

    • Italy (By End-use)

    • Spain (By End-use)

    • Russia (By End-use)

    • Rest of Europe (By End-use)



  • Asia Pacific (By Type, By Material, By End-use, By Country)

    • China (By End-use)

    • Japan (By End-use)

    • India (By End-use)

    • Southeast Asia (By End-use)

    • Rest of Asia Pacific (By End-use)



  • Latin America (By Type, By Material, By End-use, By Country)

    • Brazil (By End-use)

    • Mexico (By End-use)

    • Rest of Latin America (By End-use)



  • Middle East & Africa (By Type, By Material, By End-use, By Country)


    • GCC (By End-use)

    • Rest of Middle East & Africa (By End-use)







Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 237.53 billion in 2023 and is projected to reach USD 466.57 billion by 2032.

In 2023, the market value stood at USD 237.53 billion.

Growing at a CAGR of 7.8%, the market will exhibit decent growth during the forecast period of 2024-2032.

The non-residential segment is expected to be the leading segment in terms of end-use in this market during the forecast period.

Rapid growth in construction activities across the world will drive the 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 2023.

Increasing stringency of energy conservation regulations will drive the product adoption.

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