New York, Aug. 27, 2019 (GLOBE NEWSWIRE) -- The increasing construction activities across the globe, coupled with the rising population and changing lifestyles are propelling the growth of the market.
The global facade systems market is forecast to reach USD 459.87 Billion by 2026, according to a new report by Reports and Data. The increasing construction activities across the globe, coupled with the rising population and changing lifestyles are propelling the growth of the market. Rapid urbanization will also drive the demand for facade systems during the forecast period. Construction Industry is a booming industry and is expected to remain so with the continuation of the development process, especially in the developing countries. With the process of development and the migration of people, the demand for façade systems from the residential applications has been a significant factor governing the growth of the market.
In 2018, the Asia Pacific market held the largest market share, and the region is expected to retain its dominance during the forecast period. North America accounted for the second-largest market share, followed by Europe. North America and Europe are having a significant rise in construction activities. Investment is an essential driver of economic growth in Europe. Despite higher inflation, the rising consumer spending, supported by employment growth, fuels the infrastructure investments in the European countries. U.K., Spain, and Sweden continue to be the major countries in the European region, while the economic growth in France and Italy has accelerated over the years.
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Further key findings from the report suggest
- Among the applications, cladding accounts for the largest market share in 2018 and is forecasted to grow further with a CAGR of 4.9% during the forecast period. Cladding in construction is the application of layers of material, providing a degree of thermal insulation and weather resistance to improve the appearance and durability of buildings.
- The exterior insulation and finish system are anticipated to witness the highest growth rate of 8.1% during the forecast period. EIFS are exterior wall coverings that insulate and provide weather protection in a selection of colors, shapes, and textures that can replicate almost any architectural style or finish material. EIFS can accommodate stiff insulation boards on the wall exteriors with a plaster-like covering.
- The Asia Pacific region held the largest market share of ~31% in the year 2018 and is anticipated to witness the highest CAGR of 7.8% during the forecast period. High construction & infrastructure spending in emerging economies, including China and India, is majorly escalating the demand for facades. Due to the rapid urbanization & development of several suburbs in the Asian region, the overall building industry is witnessing several upcoming & ongoing projects.
- Key participants include Nippon Sheet Glass, Saint-Gobain, Central Glass, Asahi Glass, BASF, Guardian Industries, Dryvit Systems Inc., Sto SE & Co KGaA, Terraco Group, ParexGroup SA, James Hardie Industries PLC, Etex Group, Boral Limited, Nichiha Corporation, Kingspan PLC, Louisiana Pacific Corporation, Knauf, Georgia-Pacific LLC, SHERA, USG Corporation, Universal Cement Corporation (UCC), and Vinh Tuong Industrial Corporation, among others.
- The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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Segments covered in the report:
For this report, Reports and Data have segmented into the global facade systems market on the basis of product type, application, end-user, and region:
Product Type Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Ventilated façade
- Non-ventilated façade
- Others
Application Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Exterior Insulation and Finish System (EIFS)
- Curtain Wall
- Siding
- Cladding
- Others
End-User Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- Commercial
- Residential
- Industrial
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Regional Outlook (Volume, Kilo Tons and Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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