In terms of both value and volume, the facade systems market in the Middle East & Africa is projected to grow at the highest CAGR from 2018 to 2023

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May 20, 2019, 17:16 ET

NEW YORK, May 20, 2019 /PRNewswire/ --

The rise in demand for residential buildings is projected to drive the overall growth of the façade systems market across the globe from 2018 to 2023.

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The façade systems market is projected to grow from USD 272.7 billion in 2018 to USD 397.2 billion by 2023, at a CAGR of 7.8% during the forecast period. The growing industrial & construction activities drive the demand for façade systems. However, high raw material and installation costs are projected to inhibit the growth of the market.

In terms of value, the EIFS segment is projected to grow at the highest CAGR during the forecast period.
The EIFS segment in the façade systems market is projected to grow at the highest CAGR during the forecast period, in terms of value.The exterior insulation and finish system (EIFS) is a non-load bearing exterior wall treatment that utilizes rigid insulation boards on the wall sheathing with an exterior skin of plastic appearance.

EIFS insulation materials are made of mineral wool, polystyrene foam, and plastic foam. EIFS offers excellent insulation properties and design flexibility and has been a popular choice for exterior building cladding for several decades.

In terms of volume, the residential segment is projected to lead the façade systems market from 2018 to 2023.
The residential segment is projected to lead the façade systems market from 2018 to 2023, in terms of volume.Façade systems are used in residential buildings, majorly in apartments, bungalows, dormitories, duplexes, and other house designs (townhouses, units, and villas).

The use of façade systems in residential buildings has become more advanced and preferable, owing to the rising demand for greenhouse buildings.The spending in residential construction is estimated to witness a surge, particularly in the emerging Asia Pacific and South American regions; there is a trend of rapid urbanization observed in these regions, resulting in a higher growth rate for the residential construction market, as compared to developed markets.

Aesthetic appeal, along with properties such as durability and protection from extreme weather, has also driven the use of exterior wall systems in the residential sector.Other benefits such as fire protection and high thermal efficiency will further drive the demand.

The most favorable materials for residential include fiber cement, vinyl, bricks, and wood.

In terms of both value and volume, the Middle East & Africa façade systems market is projected to grow at the highest CAGR during the forecast period.
In terms of both value and volume, the façade systems market in the Middle East & Africa is projected to grow at the highest CAGR from 2018 to 2023.The Middle Eastern countries are advanced in terms of per capita income and expenditure and have witnessed considerable growth in construction activities.

The rising demand for energy-efficient green buildings in the Middle Eastern & African countries is expected to drive the use of energy-efficient façade systems such as EIFS and glass curtain wall. These countries have been standardizing building and construction activities over the past few years, which is also expected to drive the growth of the façade systems market.

In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the façade systems market.
•?By Company Type: Tier 1: 35%, Tier 2: 30%, and Tier 3: 35%
•?By Designation: M-level: 39% and D-level: 61%
•?By Region: Asia Pacific: 51%, Europe: 21%, North America: 15%, Middle East & Africa: 8%, and South America: 5%

The façade systems market comprises major manufacturers such as Saint-Gobain (France), Nippon Sheet Glass (Japan), Asahi Glass (Japan), Central Glass (Japan), Guardian Industries (US), BASF (Germany), Sto SE & Co KGaA (Germany), Dryvit Systems Inc. (US), ParexGroup SA (France), Terraco Group (UK), Etex Group (Belgium), James Hardie Industries PLC (Ireland), Nichiha Corporation (Japan), Boral Limited (Australia), Louisiana Pacific Corporation (US), Kingspan PLC (UK), Georgia-Pacific LLC (US), Knauf (Germany), USG Corporation (US), SHERA (Thailand), Universal Cement Corporation (UCC) (Taiwan), and Vinh Tuong Industrial Corporation (Vietnam).

Research Coverage
The market study covers the façade systems market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on type, end use, and region.

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the façade systems market.

Key Benefits of Buying the Report
The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers in the overall façade systems market and its segments and subsegments.This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.

The report also aims at helping the stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, restraints, and opportunities.

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