Surge in construction activities across various regions such as Europe & Asia-Pacific and rise in demand for high appealing designs for buildings drive the growth of the global exterior wall systems market
PORTLAND, Ore., Jan. 17, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Exterior Wall Systems Market by Material (Glass and Fiberglass, Metal, Ceramic, Cement and Others), End User (Residential, Commercial, and Industrial), and Type (Ventilated, Non-Ventilated, and Curtain Wall): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global exterior wall systems industry was estimated at $125.86 billion in 2020, and is anticipated to hit $221.97 billion by 2030, registering a CAGR of 5.6% from 2021 to 2030.
Drivers, restraints, and opportunities-
Surge in construction activities across various regions such as Europe & Asia-Pacific and rise in demand for high appealing designs for buildings drive the growth of the global exterior wall systems market. On the other hand, high cost of production, initial capital investment, and escalating prices of raw materials restrain the growth to some extent. However, rise in construction of green buildings is anticipated to create lucrative opportunities in the industry.
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- The outbreak of the pandemic led to either delays or postponements of construction activities across the world, which in turn impacted the global exterior wall systems market negatively, especially during the initial phase.
- However, as the global situation gets better, the market is projected to revive soon.
The glass and fiberglass segment to dominate by 2030-
Based on material, the glass and fiberglass segment accounted for more than two-fifths of the global exterior wall systems market share in 2020, and is anticipated to rule the roost by 2030. This is due to the benefits associated with composite materials such as high durability, chemical resistance, corrosion resistance, design flexibility, and high performance at elevated temperatures. The metal segment, however, would cite the fastest CAGR of 6.3% throughout the forecast period.
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The curtain wall segment to maintain the dominant share-
Based on type, the curtail wall segment held more than two-fifths of the global exterior wall systems market revenue in 2020, and is expected to lead the trail by 2030. This is again attributed to the benefits associated with curtain wall systems products such as aesthetic look, robust architecture solutions, and lightweight. The same segment would also manifest the fastest CAGR of 6.1% from 2020 to 2030.
Asia-Pacific, followed by Europe and North America, garnered the major share in 2020-
Based on region, Asia-Pacific, followed by Europe and North America, held the major share in 2020, generating nearly half of the global exterior wall systems market. At the same time, the market across LAMEA would grow at the fastest CAGR of 6.7% by 2030.
Key players in the industry-
- Alcoa Corporation
- AGC Inc.
- Cornerstone Building Brands
- Louisiana Pacific Corporation
- Schweiter Technologies AG
- Nichiha Corporation
- Etex Group
- CSR LTD.
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