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The global exterior wall systems market size touched USD 223.67 billion in 2022 and is predicted to reach USD 237.53 billion in 2023. The market is anticipated to touch USD 401.57 billion by 2030, recording a CAGR of 7.8% over 2023-2030.
Fortune Business Insights™ presents this information in its latest 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), By Type (Ventilated Façade, Curtain Wall, and Non-Ventilated Façade), By End-use (Residential and Non-Residential), and Regional Forecast, 2023-2030”.
Exterior wall systems are designed to protect the interiors of a building from the external environment as they act as an enclosure and envelope for the structure. Many public as well as private organizations are increasing their investments in residential, commercial, and industrial sectors, which has fueled the adoption of these wall systems. The construction sector is evolving at a strong pace in many countries across the world. Many construction techniques are also experiencing technological advancements to enhance their performance. These developments are expected to boost the exterior wall systems market growth in the future.
Restrictions on Construction Impeded Market Growth
This industry was negatively affected during the pandemic due to restrictions imposed on construction activities. The alarming increase in COVID-19 cases led to the closure of construction activities. This factor caused many companies to bear huge losses, thereby restricting the market growth. Small-scale companies were forced to shut down their business activities as they wanted to avoid cash crunch and eventual liquidation. Commercial and industrial sectors also experienced severe struggles during this period as governments imposed lockdowns and other movement restrictions. These factors had a negative impact on the demand for these wall systems.
Adoption of Exterior Wall Systems in Eco-Friendly Buildings to Boost Market Progress
Construction activities that do not use energy-saving techniques and technologies risk wasting nearly 25-30% of energy. This scenario has prompted the development of advanced construction methods and use of efficient exterior wall systems to gain major benefits with respect to energy conservation. The demand for energy-efficient buildings has also gone up in recent years to decrease carbon emissions. In addition, governments across the world have implemented various regulations and laws to promote the concept of energy-efficient construction. These laws are also encouraging end-users in the construction industry to use eco-friendly construction materials. These factors are expected to boost the product sales.
Competitive Landscape
Companies to Adopt Wide Range of Corporate Growth Strategies to Stay Ahead of Competition
Prominent companies operating in the market are focusing on improving their existing product ranges to expand their customer base. They are creating futuristic and eco-friendly products to increase the presence across the industry. They are also entering into partnership deals with leading construction companies and raw material suppliers to boost their global presence and stay ahead of the competition.
Notable Industry Development
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https://www.fortunebusinessinsights.com/exterior-wall-systems-market-104394
List of Key Players Profiled in the Report
Further Report Findings
Table of Segmentation:
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Unit | Value (USD Billion) |
Segmentation | By Type, Material, End-use, and Geography |
By Type |
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By Material |
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By End-use |
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By Geography |
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