Global Facade Market: Overview
The global facades market is expected to attract growth at a CAGR of 6.4% during the forecast period 2021-2028. Facade market valuation was US$217.9 billion in 2020. Workmanship, waterproofing, extreme weather resistance and durability are some of the key factors that play a key role in the construction of facades.
Companies operating in the global facade market are increasing their efforts to develop technologically advanced products. Due to the ability of the latest facades to absorb solar energy, these products are increasingly used in the construction of residential and commercial buildings as a source of secondary electricity generation. This factor, in turn, is supporting the sales growth of the global facades market.
It is estimated that improving the purchasing power of people living in many developing countries such as Japan, China, Brazil, India and GCC countries will create promising prospects in the global facade market in during the forecast period. Additionally, the growing need to provide a safe working environment for employees is expected to boost the demand outlook in the facades market. Increasing urbanization in several emerging economies is driving the expansion of the facade market.
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Metal composite materials are increasingly being adopted in building construction due to their ability to provide a smooth and modern appearance as well as durability to a construction. The increase in the use of these composite materials for building facades is driving the growth of the market.
Companies operating in the global facade market are redoubling their efforts to expand their business into new regions. Hence, they are seen executing strategies such as mergers, acquisitions, partnerships, and collaborations. Additionally, facade market players are focusing on incorporating technological advancements into their production activities. These efforts are expected to result in rapid expansion of the global facade market in the coming years.
The growth of the global facades market can be attributed to an increase in construction activities across the globe. In recent years, there has been an increase in the use of metal composite materials due to their ability to provide a harmonious, durable and aesthetic appearance to a building. This factor is driving the growth of the facades market.
Players in the global facade market are increasingly focusing on technological advancements to develop energy efficient facade materials. These advanced products are gaining traction due to their ability to absorb solar energy. Increasing adoption of these materials in various residential and commercial buildings as a secondary source of power generation is creating opportunities for revenue gains in the global facade market.
The facades market is expected to gather substantial growth avenues in several developing countries such as China, Japan, India, Brazil and GCC countries owing to improved purchasing power of customers in these country. Additionally, the market is driven by an increase in the need for a safe working environment for employees globally. It is estimated that the facades market will gain many opportunities in the coming years due to increasing urbanization and modernization across the world.
Changing consumer preferences and increasing attention to the exterior appearance of a building are expected to fuel the expansion of the facade market. Additionally, improving purchasing power and increasing investment in renovation activities are driving revenue generation opportunities in the global facade market.
The global facades market is expected to be pampered by significant investment in research and development which has spurred the growth of sustainable and eco-friendly bioclimatic second skin products. Such facades could find application in the use of the immediate environment to build cooling, heating or lighting. Due to their impressive durability and elastic properties, glass and aluminum should be highly preferred. These materials make it easier for designers to provide the desired size and shape to facades.
A wide range of sound deadening and excess heat limitations should be addressed as the development of composite materials demonstrates incremental innovations. Steel, ceramic, fiber and plastic are some of the important materials used by end users in the global facade market, in addition to aluminum and glass. With respect to their high transparency and low weight respectively, glass and aluminum composite materials are expected to be widely used in the market.
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Although curtain walls and conventional designs are prophesied to set the tone for steady growth in the global facade market, ventilated products may attract modest demand for their ability to protect buildings from the dual action of rain and wind. This type of wall covering counteracts the effect of water beating against the walls of a building, thus keeping it dry. The demand for ventilated facades could be further increased with their advantage of providing sound and thermal insulation inside buildings. Sellers could seek to capitalize on several business opportunities arising from the dominance of these high-demand materials.
Global Facade Market: Overview
Over the past few years, the global facade market has shown an accelerating pace of gains. Driven by the growing demand for alternative electricity sources in commercial and residential buildings, the growth witnessed in the market has increased at a high rate. This is attributable to the latest technological advancements, which have led to the advent of energy-efficient facade materials. Hence, promising opportunities for the market are on the cards as construction activities across the globe are growing at a steady pace.
Additionally, increasing consumer disposable income, especially in emerging countries such as China, India, Brazil, Japan, and GCC countries, will help the market to show robust growth between 2017 and 2025. Additionally, with organizations around the world working to provide a safer environment for employees, the use of advanced facade materials is expected to increase in the coming years.
The report identifies the most lucrative opportunities for companies operating in the Global Facades Market, besides highlighting challenges that threaten their growth goals. For in-depth insight, the effect of Porter’s Five Forces is assessed to assess the bargaining power of suppliers and buyers, the threat of substitutes and new entrants, and the degree of competition prevailing in the market. Analysis of information obtained from reliable industry sources is performed using state-of-the-art analytical tools. The findings are included in the report to help stakeholders get a better perspective on the global facades market.
Global Facade Market: Trends and Opportunities
While the overall demand for facade materials and products is quite high, curtain walls generate higher revenues due to their increasing application in commercial buildings. Curtain walls are mainly made of glass materials, which transmit heat and thus maintain a warm atmosphere in buildings despite the low outside temperature. Due to this feature, curtain walls have found application in the residential sector. In the coming years, the demand for curtain walls is expected to further increase in developed regions.
Classic designs are currently in high demand, however, the trend is likely to be replaced by eco-friendly and contemporary designs in the coming years. The ease of supply of raw materials needed for these buildings and the growing demand from the commercial and industrial sector owing to the economic rebound will create lucrative opportunities for the facade market in the near future.
Among the various end users, the demand from the commercial and residential building sector will remain high throughout the forecast period. Hence, increasing number of commercial buildings in India, Brazil, China, and Middle Eastern countries will create exciting opportunities for the facade market.
Global Facade Market: Regional Outlook
As the construction industry in Asia-Pacific shows a high CAGR, in addition to the rapid expansion of the industrial sector seen in recent years, the region is expected to be a major market for facade materials. Obviously, emerging countries such as India, China and Southeast Asia will prove to be the most lucrative pockets in the coming years. Additionally, Asia-Pacific governments are implementing strict regulations to promote the use of environmentally friendly materials. Buoyed by these factors, investors are likely to be attracted to opportunities prevailing in Asia-Pacific.
Additionally, North America and Europe will cumulatively hold a large market share owing to their growing affinity towards the adoption of advanced building materials. As these regions are highly adaptable to new technologies, they will continue to offer exciting prospects for the facade market.
Global Facade Market: Vendor Landscape
Some of the major companies operating in the market are Permasteelisa North America, Enclos Corp., SEPA and Walters & Wolf, Harmon Inc.
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