New York, United States , Nov. 29, 2023 (GLOBE NEWSWIRE) -- The Global Facade Systems Market Size to Grow from USD 220.8 Billion in 2022 to USD 341.3 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.9% during the forecast period.
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Facade systems, also known as building facades or building envelopes, are a structure's outside covering or skin that shields it from the elements and enhances its visual appeal. The fundamental objective of a façade system is to shield the building's interior from the elements, including rain, wind, snow, and sunlight. It acts as a barrier to keep out moisture and maintains a comfortable environment within buildings. To regulate temperature and reduce energy use, insulation materials are widely utilised in facades. Proper insulation can help to reduce the need for expensive heating and cooling in order to keep a steady temperature in the home. A building's facade systems have a significant impact on its identity and aesthetic appeal.
COVID 19 Impact
Lockdowns, limitations, and disruptions to transit networks all over the world have an impact on the availability of the raw materials, components, and completed goods required for facade systems. Lack of materials has pushed back project completion dates and increased costs. Numerous construction projects were delayed or postponed as a result of workforce shortages, restrictions on construction activities, and economic instability. Facade system demand was also impacted because fewer new constructions were started. The shift to remote work presented challenges for design and planning professionals in terms of project management, teamwork, and communication. The design and decision-making processes for the demands of the facade system may have been slowed down as a result.
The need for institutional, residential, and commercial buildings has increased due to rapid urbanisation and population growth in many regions of the world. The demand for new construction and renovation projects necessitates the use of innovative and efficient facade technologies. Environmentally friendly building practises and energy-efficient construction are gaining popularity. Facade systems play a vital role in achieving energy efficiency by providing thermal insulation, optimising natural illumination, and incorporating renewable energy technologies. Architectural aesthetics continue to have a big impact on building design. The visual impact of a building's façade can have a considerable impact on its appeal and market value. As a result, architects and designers are investing in unique and attractive external solutions.
Browse key industry insights spread across 210 pages with 110 market data tables and figures & charts from the report on "Global Facade Systems Market Size, Share, and COVID-19 Impact By Product Type (Ventilated, Non-ventilated), By Application (Commercial, Residential, Industrial), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032".
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Ventilated segment is dominating the market over the forecast period
On the basis of the product type, the global facade systems market is segmented into ventilated and non-ventilated. Among these, ventilated segment is dominating the market with the largest market share over the forecast period. There are several ways to build ventilated facades, which allows for creative and eye-catching designs that meet customer demand for different architectural styles. As urbanisation progresses and cities expand vertically, ventilated facades offer a method for regulating temperature variations in tall structures and tackling the problems related to urban heat islands. Material advancements including high-tech cladding panels, insulation materials, and anchoring methods have improved the efficiency and simplicity of installing vented facades.
Commercial segment holds the highest market share over the forecast period
Based on the application, the global facade systems market is segmented into commercial, residential, and industrial. Among these, the commercial segment holds the highest market share over the forecast period. As metropolitan regions expand, there is a growing need for commercial space to house businesses, offices, shops, and entertainment venues. This tendency is driving the demand for attractive, well-designed facades that enhance the aesthetic attractiveness of these regions. As cities create older communities, commercial buildings could undergo renovations. By upgrading the facade with modern materials and technologies, these spaces can be revived and can attract new businesses. Urban employment hubs attract businesses, which promotes the growth of new commercial buildings in need of effective facade solutions.
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Asia Pacific is dominating the market over the forecast period
Among all other regions, Asia Pacific region is dominating the market with the largest market share over the forecast period. Numerous countries in the Asia-Pacific are experiencing rapid urbanisation as a result of a substantial population migration from rural to urban areas. The urbanisation trend is driving a demand for new institutional, residential, and office buildings, which calls for innovative facade solutions. The Asia Pacific region is experiencing a construction boom, with huge infrastructure projects, commercial developments, and residential complexes being built in response to population growth and economic development. The Asia Pacific region is home to some of the world's highest buildings and skyscrapers. These constructions usually require specialised facade systems that can withstand high wind loads, seismic impacts, and other environmental factors.
North America is witnessing the fastest market growth over the forecast period. It is well known that North America has a wide diversity of architectural styles, from historic buildings to modern skyscrapers. This diversity fuels the desire for a wide variety of facade solutions that may accommodate varied architectural styles and preferences. Many North American communities are implementing urban regeneration and revitalization projects, which has prompted the renovation and modernisation of outdated buildings. This creates opportunities for the improvement of both aesthetics and energy efficiency through the use of modern facade solutions. The application of smart building technologies is growing across North America. The transition to intelligent and connected buildings is aided by facade systems that integrate energy management, automation, and sensor technology.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the Global Facade Systems Market include Saint-Gobain, Nippon Sheet Glass Co Ltd, Asahi India Glass Limited, Central Glass Co Ltd, Guardian Industries, BASF SE, Sto SE & Co KGaA, Dryvit, and ParexGroup LTD.
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Recent Market Developments
In October 2022, Saint-Gobain established a strategic partnership with the European business Megasol in order to increase its footprint in the continent's quickly expanding market.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Facade Systems Market based on the below-mentioned segments:
Facade Systems Market, Product Type Analysis
- Ventilated
- Non-ventilated
Facade Systems Market, Application Analysis
- Commercial
- Residential
- Industrial
Facade Systems Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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