Fort Collins, Colorado, March 12, 2024 (GLOBE NEWSWIRE) -- The Facades Market size was valued at USD 240.7 Billion in 2023 and is expected to have a market size of USD 483.1 Billion by 2032 with a CAGR of 8.1%.
In recent years, significant advancements have been made in the materials and manufacturing processes used in façade manufacturing. Novel techniques and the use of tempered glass is used as a facade material. On the other hand, the consumer market benefits from the expanded use and efficient adoption of sophisticated facades in the forecast period. In addition, the market demand for facades is anticipated to rise over the projected period due to the implementation of cutting-edge technologies like kinetic façades and I-facades and higher usage.
The facade market expanded in 2023 due to several financial and environmental advantages, including cost and energy savings. Using façade panels lowers the cost of purchasing specialized materials required for wall reinforcing and tile or cement adhesives. Stone decoration is three to five times more expensive than facade panels while maintaining a similar visual impact. Worldwide construction activities are also driving up the need for façades. Government measures related to construction and infrastructure development are anticipated to stimulate market expansion worldwide. For instance, the U.S. Inflation Reduction Act boosts the U.S. construction business, encouraging manufacturing, large-scale infrastructure projects, and strategic inward investment. China's building industry is anticipated to increase significantly due to the government's different relaxations.
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Segmentation Overview:
The global facades market has been segmented into product, material, end-use, and region. Based on product, the facades market segmentation comprises ventilated, non-ventilated, and others. The ventilated façade segment held the largest market share in 2023. This growth is attributed to the increased capability of ventilated facades provided over non-ventilated facades. Based on end-use, the facades market is bifurcated into commercial and residential. Commercial buildings include hotels, medical facilities, offices, retail stores, and warehouses.
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Facades Market Report Highlights:
- The global facades market growth is anticipated at a CAGR of 8.1% by 2032.
- The rise in construction activities and the increasing adoption of facades for commercial buildings are expected to impel market demand in the forthcoming years.
- Asia Pacific accounted for a significant market share in 2022 and is projected to retain a dominant position in the following years. This is attributed to the growing construction of new commercial and industrial buildings in China, India, and South-East Asia over the next few years.
- Some prominent players in the facades market report include Saint-Gobain S.A, Enclos Corp., Etex Group, Kawneer, Knauf, Permasteelisa S.p.A, Aluplex, AFS International, Nichiha Corporation, Kingspan Group, Lindner Group, and Norsk Hydro ASA.
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Facades Market Segmentation:
By Product: Ventilated, Non-ventilated, others.
By Material: Glass, metal, plastics & fibers, stones, others
By End-use: Commercial, Residential
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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