September 13, 2021
According to the research report titled ‘Global Exterior Wall Systems Market Size study, by Material (Glass panel, Ceramic tiles, Vinyl, Metal panel, Brick & stone, Others), by Type (Ventilated, Non-ventilated, Curtain wall), by Supporting wall (Concrete, Masonry, Wood)and Regional Forecasts 2021-2027’, available with Market Study Report, global exterior wall systems market was worth USD 130.71 million in 2020 and is touted to garner a compound annual growth rate of 7.6% over 2021-2027, reaching USD 221.03 million valuation by the end of the projected timeframe.
As per the findings of the report, increasing activities in industrial, commercial & residential sectors, growing preference for dry construction techniques, as well as rising demand for wall protection products are catalyzing the growth of global exterior wall systems market.
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As per statistics provided by India Brand Equity Foundation (IBEF) in 2021, about 3 houses are built every year for 1,000 people, compared to the required construction rate of 5 houses per 1,000 people. The dearth of housing facility is estimated to be nearly 10 million units in urban areas, and an additional 25 million units of affordable housing are necessary by 2030. Thus, investments in infrastructural projects in emerging nations, and increasing demand for green buildings are likely to fuel industry expansion over the analysis timeframe.
For the unversed, an exterior wall system provides the first line of defense against rainwater. It performs dual functions of shedding and also absorbing the majority of rainwater penetration.
Despite the positive outlook, high production and capital investment costs, as well as stringent government regulations on carbon emissions are likely to hamper the growth of global exterior wall systems market over the forecast period.
As per expert verbatim, North America, Europe, Asia Pacific, and Latin America are the major contributors to overall industry remuneration. Among these, Asia Pacific presently captures a substantial market share and is slated to register momentous growth over the projected duration, accreditable to rising populace, growth in construction segment, as well as surging public and private sector investments.
Speaking of the competitive landscape, CSR Limited, Alcoa Corporation, Siam Cement Group Public Company Limited, Avient Corporation, Nichiha Corporation, CRH plc, Louisiana-Pacific Corporation, NCI Building Systems, Inc., 3A Composites GmbH, and Etex Group are the major players influencing global exterior wall systems market trends.