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The global facade market is projected to attract growth at a CAGR of 6.4% during the forecast period, 2021-2028. The valuation of the market for facade was US$ 217.9 Bn in 2020. Fabrication, waterproofing, resistance to extreme climate, and durability are some of the key factors that play key role in the construction of facades.
Companies operating in the global facade market are increasing efforts to develop technologically advanced products. Owing to the ability of latest facades of absorbing solar energy, these products are being increasing used in the construction of residential and commercial buildings as a secondary electricity generation source. This factor, in turn, is bolstering the sales growth of the global facade market.
Improving spending power of people living in many developing nations such as Japan, China, Brazil, India, and GCC countries is estimated to create promising prospects in the global facade market in the forecast period. Moreover, the rising need to offer a safe work environment to employees is expected to drive the demand prospects in the market for facade. Rise in the urbanization across several emerging economies is driving the expansion of the facade market.
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Metal composite materials are being increasing adopted in the construction of buildings owing to their ability to offer a harmonious and modern look as well as durability to a construction. Rise in the use of such composite materials in order to construct facades is driving the market growth.
Companies operating in the global facade market are increasing efforts to expand their businesses in newer regions. Hence, they are seen executing strategies such as mergers, acquisitions, partnerships, and collaborations. Moreover, players in the market for facade are focused on incorporation of technological advancements in their production activities. These efforts are expected to result into rapid expansion of the global facade market in the years ahead.
The growth of the global facade market can be ascribed to a surge in the construction activities across the globe. In recent years, there is increase in the use of metal composite materials owing to their ability to offer a harmonious, durable, and attractive appearance to a building. This factor is boosting the growth of the facade market.
Players in the global facade market are increasing focus on technological advancements in order to develop energy-saving facade materials. Such advanced products are gaining traction owing to their ability to absorb solar energy. Increase in the adoption of these materials in diverse residential and commercial buildings as a secondary source of electricity generation is creating opportunities for revenue gains in the global facade market.
The facade market is anticipated to gather substantial avenues for growth in several developing nations such as China, Japan, India, Brazil, and GCC countries owing to improving spending power of customers in these nations. Furthermore, the market is being driven by an increase in the need for a safe work environment to employees globally. The facade market is estimated to gain ample opportunities in the upcoming years on the back of rising urbanization and modernization across the globe.
Shifting consumers’ preferences and rising focus on the outer appearance of a building are projected to fuel the expansion of the facade market. Moreover, improving spending power and rising investments in renovation activities are driving the revenue-generation opportunities in the global facade market.
The global facade market is foretold to be pampered by significant investments in research and development that spurred the growth of sustainable, eco-friendly bioclimatic second-skin products. Such facades could find application in using the immediate environment to build cooling, heating, or lighting. On account of their impressive durability and elastic properties, glass and aluminum are anticipated to be highly preferred. These materials make it easier for designers to provide the desired size and shape to facades.
A wide range of limitations pertaining to soundproofing and excess heat are predicted to be dealt with as the development of composite materials witnesses progressive innovations. Steel, ceramic, fiber, and plastic are some of the important materials engaged by end users in the global facade market besides aluminum and glass. With regard to their high transparency and low weight respectively, glass and aluminum-based composite materials are expected to be widely employed in the market.
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Although curtain walls and classic designs are prophesied to set the tone for a consistent growth in the global facade market, ventilated products could draw a modest demand in respect of their ability to shield buildings against the double action of rain and wind. This type of wall covering counterpoise the effect of water beating against the walls of a building, thus keeping it dry. The demand for ventilated facades could be augmented further with their advantage of providing soundproof and heat insulation to building interiors. Vendors could look to capitalize on several business opportunities birthing from the dominance of such highly demanded materials.
Global Facade Market: Overview
Over the last few years, the global facade market is exhibiting an accelerated pace of gains. Spurred by the rising demand for alternative electricity sources across commercial and residential buildings growth witnessed in the market has increased at a high pace. This is ascribable to the latest technological advancements, which led to the advent of energy saving façade materials. Hence promising opportunities for the market are on cards as construction activities worldwide grow at a robust pace.
Besides this, the rising disposable income of consumers, especially across emerging nations such as China, India, Brazil, Japan, and GCC countries will help the market exhibit robust growth between 2017 and 2025. Furthermore, with organizations around the world working towards providing a more secure environment for employees, the use of advanced facade material is forecast to rise in the coming years.
The report identifies the most lucrative opportunities for enterprises operating in the global façade market, besides highlighting challenges, which pose threat to their growth targets. For an in-depth overview the effect of Porter’s five forces is evaluated to gauge the bargaining power of suppliers and buyers, threat from substitutes and new entrants, and the degree of competition prevailing in the market. Analysis on information obtained from trusted industrial sources is carried out using industry-leading analytical tools. Results from which are included in the report to help stakeholder gain a better perspective about the global façade market.
Global Facade Market: Trends and Opportunities
While overall the demand for facade materials and products is quite high, curtain walls are amassing greater revenue due to its increase application in commercial buildings. Curtain walls mainly comprise glass materials, which transmit heat thereby maintaining a warm atmosphere in buildings despite the low temperature outside. Due to this feature, curtain walls have found application in the residential sector. In the next few years, the demand for curtain walls is expected to increase further in developed regions.
Classic designs are currently high in demand, however, the trend is likely to be replaced by eco-friendly and contemporary designs in the coming years. The ease of procuring raw materials required for such buildings and the increasing demand from commercial and industrial sector on account of economic rebound, will create lucrative opportunities for the façade market in the near future.
Among the various end users, the demand from the commercial and residential buildings sector will continue to remain high through the course of the forecast period. Hence the rise in number of commercial buildings across India, Brazil, China, and the Middle Eastern countries will create attractive opportunities for the façade market.
Global Facade Market: Regional Outlook
As the construction industry in Asia Pacific demonstrates a high CAGR, besides rapid expansion of the industrial sector witnessed over the last few years, the region is expected to prove a major market for façade materials. Evidently, emerging nations such as India, China, and Southeast Asia will prove to the most lucrative pockets in the coming years. Furthermore, governments in Asia Pacific are implementing stringent regulations to promote use of eco-friendly materials. Spurred by these factors, investors are likely to get lured to capitalize on opportunities prevalent in Asia Pacific.
In addition, North America and Europe will cumulatively hold a significant market share due to their rising affinity towards adopting advanced building materials. As these regions are highly adaptive to novel technologies, they will continue exhibiting attractive prospects for the façade market.
Global Facade Market: Vendor Landscape
Some of the leading enterprises operating in the market are Permasteelisa North America, Enclos Corp., SEPA, and Walters & Wolf, Harmon Inc.
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