Facades Market size is set to grow by USD 133.9 million from 2024-2028, Rising residential construction and infrastructural activities boost the market, Technavio

NEW YORK, June 12, 2024 /PRNewswire/ -- The global facades market size is estimated to grow by USD 133.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 8.1% during the forecast period. Rising residential construction and infrastructural activities is driving market growth, with a trend towards rise in population and urbanization in emerging economies. However, high raw material and installation costs  poses a challenge. Key market players include Alania Building Systems Pty Ltd., Architectural Glass and Aluminum, Asahi India Glass Ltd., Compagnie de Saint Gobain, DANPAL, Etex NV, Everite Building Products Pty Ltd., First African, James Hardie Europe GmbH, Kingspan Group, Knauf Insulation, Nichiha Corp., Nippon Sheet Glass Co. Ltd., RPM International Inc., SHERA Public Co. Ltd., Sika AG, Sto SE and Co. KGaA, Terraco Holdings Ltd., USG Boral, and Vietnam building material.

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Market Driver

The construction industry's expansion, driven by urbanization and infrastructure investments, fuels the demand for facade systems in both residential and non-residential buildings. Emerging economies, such as India, China, and Russia, are expected to increase their use of thermal insulation materials. India's commercial construction sector growth, fueled by foreign investments and rising GDP, will drive the global facades market. Moderate growth in commercial space construction in Thailand, the Philippines, Laos, and Singapore will also contribute to market growth. Consumers in these economies, with higher disposable incomes and changing lifestyles, are remodeling buildings to meet energy-efficient norms. 

The Facades Market is currently experiencing significant growth, with a focus on advanced technologies and sustainable materials. Apparent trends include the use of cutting-edge materials like fiber cement and ultra-high performance concrete. Buliding companies are also investing in energy-efficient facades to reduce energy consumption and meet green building standards.

Classical designs are making a comeback, with an emphasis on creating visually appealing and durable facades. Additionally, the use of digital technologies such as 3D modeling and BIM software is becoming increasingly popular for designing and constructing facades. Overall, the Facades Market is evolving to meet the demands of modern architecture and sustainable construction practices. 

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Market Challenges

• The facades market faces significant challenges due to rising raw material costs. Prices for metals, natural stone, wood, tiles, and glass have increased, primarily due to a demand-supply imbalance. The US, a major lumber exporter, struggles to meet increased demand from China and Southeast Asian countries, leading to higher lumber prices.
• Additionally, the tight supply of raw materials for glass and metal manufacturing contributes to their price hikes. These cost increases, coupled with transportation and labor expenses, pose substantial challenges for the facades market during the forecast period.
• The Facades Market faces several challenges in the industry. One major challenge is the requirement for high durability and resistance to various weather conditions. Another challenge is the need for energy efficiency and sustainability in facade designs. Additionally, the increasing demand for aesthetic appeal and unique designs adds complexity to facade projects.
• Regarding raw materials, the availability and cost of bricks, facade materials, and glass are significant factors. Furthermore, the installation process can be intricate and time-consuming, requiring skilled labor and precise execution. Lastly, maintaining the quality and longevity of facades is essential to ensure customer satisfaction and repeat business.

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Segment Overview 

1. End-user 
• 1.1 Residential
• 1.2 Non-residential
2. Product 
• 2.1 Ventilated facades
• 2.2 Non-ventilated facades
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Residential-  The Facades Market is a significant sector in the construction industry, focusing on the external design of buildings. It involves the use of various materials and techniques to enhance a structure's aesthetic appeal and durability. Key players in this market include manufacturers of glass, stone, and metal panels, as well as architectural firms and contractors. Collaboration between these entities drives innovation and growth in the Facades Market.

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Research Analysis

The Facades Market is currently experiencing challenges due to project delays and labor shortages, which are impacting the recovery of the industry. However, there is a growing focus on energy efficiency and external beautification, with solar facade installations gaining popularity. Solar Bricks and Building power are becoming essential components of modern facade designs, as is the use of Vertical gardens and other construction-related activities.

Customer spending power is a crucial factor in the market's growth, with an increasing demand for durable and weather-resistant materials such as Metal composite materials. The trend towards urbanization and modernization is driving the use of advanced technologies like Waterproofing, Fabrication, and EIFS (Exterior Insulation and Finish Systems) for cladding and protecting the external faces of buildings from the harsh effects of snow, rain, wind, and sun.

Market Research Overview

The Facades Market encompasses a wide range of products and services related to the external design and construction of buildings. These include cladding materials, such as glass, stone, metal, and ceramic; structural systems, like load-bearing walls and support structures; and decorative elements, such as facade panels and lighting.

The market is driven by factors like increasing urbanization, the need for energy efficiency, and the desire for aesthetically pleasing architectural designs. Companies offer consultancy services, design solutions, and installation services to cater to the diverse needs of clients in various industries, including residential, commercial, and infrastructure. The market is also witnessing the adoption of advanced technologies, like BIM and 3D modeling, to enhance the design and construction process.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Residential
• Non-residential
• Product
• Ventilated Facades
• Non-ventilated Facades
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Website: www.technavio.com/

SOURCE Technavio