Exterior Wall System Market Growth Analysis, Outlook by 2021 – Trends, Opportunities and Forecast

The exterior wall system market is expected to witness significant growth by 2027, expanding at a notable pace through the coming years. The market growth is estimated to be driven by advancements in wall systems technology and increasing demand across developed as well as developing regions.
Growing population and the subsequent surge in power consumption, along with rapid urbanization, has created many problems like climate change and global warming.
Recently, wildfires have become prevalent with the rising global temperature. This has pushed manufacturers to opt for exterior wall system solutions that can mitigate the damage caused by fires.
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Once the exterior wall catches fire, the fire can spread to windows, the roof, and doors, causing massive damage to the structure. In such cases, solutions that can help protect the exterior wall from the fire are vital.
For instance, gypsum separation walls offer a 2-hour fire protection and provide noise reduction. These walls can be utilized in structures up to four stories high and are also compatible with the standard floor-to-ceiling heights.
In another example, insulated vinyl siding gives an excellent and affordable alternative to other more expensive fire-protection exterior wall system solutions.
Sustainable construction has gained substantial popularity in the past few years. To achieve higher energy efficiency for improving the building exterior, new construction technologies and sustainable materials have found extensive construction applications lately.
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Exterior wall systems are now also being combined with solar panels to generate power for fulfilling energy requirements of buildings sustainably.
To cite an instance, Elemex, a company working in the commercial architectural industry, recently introduced Solstex, a novel solar facade system that allows architects to integrate lightweight solar panels into a building's facade to produce renewable energy.
Solstex is a sustainable alternative both from energy generation and economical perspective. The solar panels are built from thin-film CdTe (cadmium telluride) semiconductor technology that is fitted between two sheets of heat-strengthened glass.
The panels are adhered to the external wall utilizing Elemex's Unity attachment technology. The technology enables builders and architects to develop surface veneers on the same plane while incorporating the solar panels with commonly-used materials like stone, ceramic, and aluminum.
For comprehensive assessment, the exterior wall system market has been segmented on the basis of type, material, application, and region.
In terms of material, the market has been bifurcated into vinyl, stucco, fiber cement, masonry, wood, and others.
The wood material sub-segment is expected to witness profitable growth by 2027 due to a distinguished increase in the demand for wood exterior wall systems in colder regions.
From the regional perspective, the Middle East & Africa market contributes to 5% share in the overall industry revenue and is estimated to observe steady growth through the forecast timeframe.
Rising urban infrastructure development is anticipated to increase product sales in the Middle East & Africa region, thereby boosting regional growth over the assessment period.