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Facade Market To Show Remarkable Progress With Revenue Of USD 336.6 Billion By 2028, Owing To Rise In Construction-Related Activities | Grand View Research, Inc.

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Facade Market To Show Remarkable Progress With Revenue Of USD 336.6 Billion By 2028, Owing To Rise In Construction-Related Activities | Grand View Research, Inc.

June 02
07:52 2022
Facade Market To Show Remarkable Progress With Revenue Of USD 336.6 Billion By 2028, Owing To Rise In Construction-Related Activities | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, Facade Market growth can be attributed to rising customer spending power, primarily in China, Japan, India, Brazil, and GCC countries, along with the need to provide a secure work environment to employees.

Facade Industry Overview

The global facade market size was valued at USD 217.9 billion in 2020 and is expected to reach USD 336.6 billion by 2028, at a CAGR of 6.4% from 2021 to 2028.

The rise in construction-related activities has been an important factor in driving the market. Furthermore, technological innovations are leading to the development of energy-saving facade materials. These advanced products absorb solar energy and find widespread adoption in several commercial and residential buildings as a secondary source of electricity generation. The market is expected to grow at a considerable rate over the forecast period. This growth can be attributed to rising customer spending power, primarily in China, Japan, India, Brazil, and GCC countries, along with the need to provide a secure work environment to employees. Furthermore, the use of metal composite materials offers a durable, harmonious, and modern appearance to the building. Increasing usage of such composite materials to build facades is projected to boost the market growth over the coming years.

Gather more insights about the market drivers, restraints, and growth of the Global Facade market

Modernization and urbanization are playing a vital role in the growth of the market. Several factors including waterproofing, fabrication, durability, and resistance to extreme climate come to play during the construction of facades. Changing perceptions of consumers and increasing focus on the exterior appearance of a building are anticipated to boost the growth of the market. Rising disposable income is leading to increased investments in renovations, which, in turn, is estimated to augment the market growth. Growing investments in the advancement of the residential and commercial construction industries in developed countries, such as the U.S., can stoke the growth of the market.

North America facade market size, by product, 2017 - 2028 (USD Billion)

The ongoing impact of the COVID-19 pandemic has hit hard the construction industry across the globe. Moreover, the complete lockdown in several cities across key countries, such as China, the U.S., Germany, U.K., and India, had a significant impact on the global economic slowdown in 2020. Moreover, owing to the rapid spread of the virus, it has forced the shutdown of various ongoing residential, commercial, and industrial construction projects globally. Therefore, the slower growth in the construction and real estate industry due to the lower demand for buying homes and offices is expected to slow down the demand for facade products and services over the shorter period. Furthermore, the relaxations in lockdown measures provided by the federal governments, coupled with the releasing of economic relief packages across prominent countries, such as the U.S., U.K., China, and Germany, are expected to bring the market growth on track over the next seven years.

 

Facade Market Segmentation

Based on the Product Insights, the market is segmented into Ventilated Facades, Non-ventilated Facades and Others.

  • In 2020, the ventilated facades segment held the largest share of 44.3%. Ventilated facades are likely to be the most prominent product during the forecast period.
  • In the ventilated facades segment, curtain walls are poised to be the fastest-growing sub-segment over the forecast period owing to their increasing penetration in commercial buildings.

 

Based on the End-use Insights, the market is segmented into Commercial, Residential and Industrial.

  • In 2020, the commercial end-use segment captured the largest share of exceeding 50.0%.
  • Implementation of the product in residential buildings is also likely to increase over the next few years. This is primarily attributed to the rising customer awareness regarding energy saving, especially in the U.S., the U.K., Germany, China, and Japan.

 

Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

  • In 2020, Asia Pacific accounted for the largest share of more than 35.0%. Increasing construction of new commercial and industrial buildings in countries, including China, India, and Southeast Asia, is contributing to the growth of the regional market.
  • North America and Europe, collectively, accounted for more than 45.0% share of the total revenue in 2020 owing to a growing affinity towards advanced facade materials. 

 

Browse through Grand View Research’s Advanced Materials Industry Related Reports

  • Glass Facade MarketThe global glass Facade market size was valued at USD 67.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.9% from 2021 to 2028.
  • Building-integrated Photovoltaics Facade MarketThe global building-integrated photovoltaics facade market size was valued at USD 818.2 million in 2018 and is expected to register a CAGR of 25.3% during the forecast period.

 

Market Share Insights:

  • January 2021: Skanska signed an additional agreement with Hartsfield-Jackson Atlanta International Airport. The agreement aims to build the Concourse T-North Extension and modernization project in Atlanta, Georgia, U.S., in a Skanska-led joint venture along with New South Construction, FS360, and Synergy Construction. Moreover, Skanska’s share of the agreement is worth nearly USD 56 million.
  • December 2019: YKK AP America Inc. (YKK AP) acquired the Erie Architectural Products Group (Erie AP), a Canada-based facades solutions provider. The strategic acquisition would help YKK AP to expand its geographical presence and product offerings.

 

Key Companies Profile:

Key market players are strategically focused on mergers and acquisitions in order to expand their geographical presence and overall product portfolios.

Some prominent players in the global facade market include:

  • Rockpanel Group (ROCKWOOL B.V.)
  • Aluplex
  • Bouygues
  • Enclos
  • EOS Framing Limited
  • Saint-Gobain Group
  • AFS International B.V.
  • Kingspan Group
  • Lindner Group
  • Fundermax
  • Gartner (Permasteelisa Group)
  • HansenGroup
  • Hochtief
  • National Enclosure Company, LLC.
  • Schuco International (OTTO FUCHS KG)
  • Skanska
  • Trimo d.o.o.
  • Norsk Hydro ASA
  • YKK AP Inc.

Order a free sample PDF of the Facade Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: https://www.grandviewresearch.com

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Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/facade-market

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