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The global exterior wall systems market size is expected to grow significantly by reaching USD 370.82 billion by 2029. Fortune Business Insights™ in its report titled “Exterior Wall Systems Market Size, Share & COVID-19 Impact Analysis, By Material (Vinyl, Ceramic Tiles, Gypsum/Plasterboard, Glass Panel, EIFS, Fiber Cement, Wood Board, HPL Board, Bricks & Stone, Fiberglass Panel, and Others), Type (Ventilated Façade, Curtain Wall, and Non-Ventilated Façade), By End-Use (Residential and Non-Residential), and Regional Forecast, 2022-2029” observes that the market size in 2021 was USD 211.41 billion and reached USD 223.67 billion in 2022. The market is expected to grow at a CAGR of 7.5% during 2022-2029. Rising public and private investments coupled with strict energy efficiency regulations and green buildings may influence the industry growth.
Holcim Announced New Products to Enhance Product Portfolio
Holcim announced its ECOPlanet range of green cement offerings in July 2021 to deliver 30% lower carbon footprint while also offering excellent performance. This launch may allow the company to considerably enhance its product offerings and bolster its sales.
Restrictions on Construction Impeded Market Growth
This industry was negatively affected during the pandemic due to restrictions imposed on construction activities. The alarming spike in COVID-19 cases led to the closure of construction activities. This factor led to huge losses, thereby restricting the market growth. However, the resumption of activities post-COVID-19 enabled manufacturers to balance costs and resume activities. Moreover, manufacturers adopted social distancing and automated production techniques to recover their costs. These factors may influence the industry's growth.
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Rising Construction Projects Worldwide to Elevate Market Progress
Exterior wall systems are enclosures of a building designed to protect the interiors from uneven climate conditions. Rising construction projects may bolster the materials’ adoption. Furthermore, the increasing demand for materials from several modern construction projects may boost sales. Moreover, increasing awareness regarding the energy conservation capability of these wall systems may enhance their adoption. These factors may boost the exterior wall systems market growth.
Companies Adopt Expansion Strategies to Bolster Brand Image Worldwide
Prominent companies operating in the market announce expansions to elevate their brand image and obtain an enormous consumer base. For example, Evonik Industries expanded its product portfolio for high-performance, non-combustible, and mineral-based insulation materials for vented curtain walls, façade elements, flat roofs, and balconies to optimize buildings in December 2021. Further, companies adopt research & development to incorporate better materials. Moreover, companies adopt automated production techniques to boost their market position.
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Value (USD billion)
By Type, Material, End-Use, and Geography