Exterior Wall System Market: Competitive Insights, Regional Trends & Forecast To 2027
The size of Exterior Wall System Market was registered at USD 234.6 billion in the year 2020 and is anticipated to cross USD 390 billion by 2027. Between the period 2021-2027, the market is expected to register a CAGR of 7.9%.
Increasing quality of life and rising per capita income in North America are poised to impel the growth of the exterior wall system industry size through the ensuing years. Recognizing this, numerous apartment developers are looking for expansion in secondary as well as suburban markets.
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The increasing trend of nuclear families has instigated developers in the repeated construction of flats, apartments, and societies, limiting their capability to offer best furnished facilities within minimum constraints. Therefore, the development of sustainable and innovative materials is encouraging consumers (particularly in the U.S.) to renovate/rebuild buildings.
A rise in the number of industrial construction as well as infrastructure projects across emerging economies is likely to propel the demand for exterior wall systems in the sector of industrial building. The segment is estimated to register a lucrative CAGR of 7.7% between 2021 and 2027.
The industry is also witnessing an increase in the inflow of FDI in developing countries. Not to mention, rising standardization in the building and construction industry is poised to impel exterior wall system market growth through 2027. Citing an instance, the European Union is actively implementing policies for the reinforcement of economic ties with developing economies, especially in Africa, where the needs of infrastructure are high.
The surging requirement for enhancing the energy efficiency of buildings is expected to escalate the demand for exterior wall claddings. The business is set to witness robust growth in commercial as well as industrial infrastructure applications through 2027.
Non-ventilated exterior wall system market is expected to record a remarkable CAGR of 7.5% between 2021 and 2027. This upsurge is due to the rich aesthetics of these systems and the advantages of high-quality insulation, slimmer design, and noise damping property.
Taking these developments a step ahead, numerous industry players are focusing on the introduction of novel products that are integrated with innovative technologies. To cite an instance, in September 2020, Elemex launched a new and revolutionary solar façade system, dubbed Solstex. The system allows architects to incorporate lightweight solar panels into the exterior walls of a building for the generation of renewable energy.
This growth is attributed to the various advantages of the incorporation of vinyl materials in exterior walls. These benefits comprise better weathering, advanced aesthetic value, and non-fading characteristics. In addition, vinyl materials also offer improved resistance to rotting, peeling, blistering, corroding, chipping, cracking, and excessive fading. These factors make the material more apt for exterior wall applications and are the major reason for the segment to account for a commendable share of 20% in the exterior wall system market.
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Some Point from Table of Contents:
hapter 4 Exterior Wall System Market, By Type
4.1 Global exterior wall system industry type insights
4.2 Ventilated
4.2.1 Market estimates and forecast, 2017 – 2027
4.2.2 Market estimates and forecast, by region, 2017 – 2027
4.3 Non-ventilated
4.3.1 Market estimates and forecast, 2017 – 2027
4.3.2 Market estimates and forecast, by region, 2017 – 2027
Chapter 5 Exterior Wall System Market, By Material
5.1 Global exterior wall system market material insights
5.2 Vinyl
5.2.1 Market estimates and forecast, 2017 – 2027
5.2.2 Market estimates and forecast, by region, 2017 – 2027
5.3 Fiber cement
5.3.1 Market estimates and forecast, 2017 – 2027
5.3.2 Market estimates and forecast, by region, 2017 – 2027
5.4 Stucco
5.4.1 Market estimates and forecast, 2017 – 2027
5.4.2 Market estimates and forecast, by region, 2017 – 2027
5.5 Masonry
5.5.1 Market estimates and forecast, 2017 – 2027
5.5.2 Market estimates and forecast, by region, 2017 – 2027
5.6 Wood
5.6.1 Market estimates and forecast, 2017 – 2027
5.6.2 Market estimates and forecast, by region, 2017 – 2027
5.7 Others
5.7.1 Market estimates and forecast, 2017 – 2027
5.7.2 Market estimates and forecast, by region, 2017 – 2027
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