New York, March 31, 2023 (GLOBE NEWSWIRE) -- The Global Decorative Exterior Materials Market was valued at US$ 268.7 Billion by 2022 and is expected to grow US$ 475.6 Billion by 2033, With at a CAGR of 5.3% during the forecast period (2023-2033). The market is driven by the increasing demand for energy-efficient and sustainable building materials, rising construction activities in emerging economies, and government initiatives promoting the use of green building materials.
Decorative exterior materials are building materials used to enhance the aesthetic appeal and durability of residential and commercial buildings. These materials include siding, roofing, windows, doors, and other decorative elements. The global decorative exterior materials market has been growing steadily due to the increasing demand for energy-efficient and sustainable building materials. Some common types of decorative exterior materials include siding, trim, roofing, shutters, cladding, and other exterior features such as columns, cornices, and architectural elements. These materials come in various shapes, sizes, and finishes and can be customized to suit different architectural styles and design preferences.
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The report has been prepared based on extensive research and analysis of the global decorative exterior materials market. The primary research included interviews with industry experts, manufacturers, distributors, and end-users. The secondary research involved a review of company reports, press releases, industry publications, and government statistics.
The market for decorative exterior materials is driven by several factors, including the increasing demand for sustainable and eco-friendly materials, the rising popularity of modular construction, and the growing trend of urbanization. In addition, the adoption of advanced technologies such as 3D printing and nanotechnology is expected to revolutionize the market by enabling the development of new materials with superior properties.
Some of the prominent players in the market include LX Hausys Ltd, OMNOVA Solutions, Inc., ERGIS S.A., AVERY DENNISON CORPORATION, JINDAL POLY FILMS Ltd., Klöckner Pentaplast Group, Folienwerk Wolfen GmbH, Mondoplastico S.p.A., RENOLIT, AVI Global Plast Pvt. Ltd., MACRO PLASTIC SDN. BHD., Peiyu Plastics Corporation, Hanwha L&C, Konrad Hornschuch AG, Fine Decor GmbH, Alfatherm s.p.a., C.I. TAKIRON Corporation, RTP Company, Inc., Schweitzer-Mauduit International, Inc. (SWM), Covestro AG, LyondellBasell Industries Holdings N.V., Nihon Matai Co., Ltd., PROTECHNIC SA, Victrex plc., Mitsubishi Chemical Corporation, E.I. du Pont de Nemours and Company, Sch?co International KG, Saint Gobain, Alcoa Corporation, Rieder Smart Elements GmbH, Asahi Building Wall Co., Ltd., Trelleborg, Ulma Architectural Solutions, Armacell, Kalwall, Lixil Group Corporation, Lindner Group, Yuanda China Holdings Limited, Toro Aluminium Group of Companies
Decorative Exterior Materials Market Future Scope
- Increasing demand for sustainable and eco-friendly materials: The demand for sustainable and eco-friendly decorative exterior materials is expected to increase in the coming years, as consumers become more environmentally conscious. This trend is expected to drive the development of new materials that are more durable, energy-efficient, and environmentally friendly.
- Adoption of advanced technologies: The use of advanced technologies such as 3D printing and nanotechnology is expected to revolutionize the decorative exterior materials market. These technologies can be used to develop new materials with superior properties, such as strength, durability, and insulation.
- Rising demand for modular construction: Modular construction is gaining popularity due to its cost-effectiveness, speed, and flexibility. The demand for decorative exterior materials for modular construction is expected to increase in the coming years, as more developers adopt this construction method.
- Increasing urbanization: The trend of urbanization is expected to continue, with more people moving to cities in search of better opportunities. This trend is expected to drive the demand for decorative exterior materials, as new buildings are constructed to accommodate the growing population.
- Growing interest in smart homes: Smart homes are becoming more popular, as consumers look for ways to automate their homes and improve energy efficiency. This trend is expected to drive the demand for decorative exterior materials that can be integrated with smart home technology.
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Market Segmentation:
The global decorative exterior materials market has been segmented based on product type, application, and geography.
Based on product type, the market has been segmented into siding, roofing, windows, doors, and other decorative elements. Siding is the largest product segment, accounting for over 40% of the market share in 2021. The demand for siding is driven by its durability, low maintenance, and ease of installation.
Based on application, the market has been segmented into residential and commercial. The residential segment is the largest application segment, accounting for over 60% of the market share in 2021. The demand for decorative exterior materials in the residential segment is driven by the increasing number of new residential construction projects and home renovation activities.
- By Application: (Window Frame, Exterior Door, Façade (Cladding/Siding), Outdoor Flooring, Outdoor Furniture, Automotive Exterior)
- By End Use: (Residential, Commercial, Institutional, Transportation)
Regional Insights
Geographically, the market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and North America and Europe are the largest markets for decorative exterior materials, driven by the high demand for residential and commercial construction. However, the Asia-Pacific region is expected to see significant growth in the coming years due to the rapid urbanization and increasing demand for high-quality building materials.
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Decorative Exterior Materials Market Recent Developments:
- In February 2022, Ply Gem Holdings, a leading manufacturer of building products, announced the launch of a new line of decorative exterior shutters. The shutters are made from durable materials such as vinyl and fiber cement, and come in a variety of styles and colors to suit different architectural styles.
- In December 2021, James Hardie Industries plc, a global leader in fiber cement siding, announced the acquisition of Exteria Building Products, a leading manufacturer of decorative exterior siding and trim. The acquisition is expected to expand James Hardie's product portfolio and strengthen its position in the decorative exterior materials market.
- In September 2021, Boral Limited, a global building products company, announced the launch of a new line of decorative exterior stone veneers. The veneers are made from natural stone and are designed to replicate the look of traditional stone masonry. The product line is expected to appeal to homeowners looking for a high-end, luxury look for their homes.
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