According to the [195+ Pages Research Report]; the global Facade System Market was USD 290.84 Billion in 2019 and is expected to grow at an annual CAGR of 7.6% and to reach USD 485.67 Billion by 2026. Top market players profiles in the market include Nichiha Corporation, Boral Limited, Louisiana Pacific Corporation, Kingspan PLC, Georgia-Pacific LLC, Knauf, VinhTuong Industrial Corporation and others.
New York, NY, April 05, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Facade System Market by Type (Cladding, EIFS, Siding, and Curtain Wall) By Product Type (New Ventilated, Non-Ventilated and Others), By End-Use Industry (Residential, Commercial and Industrial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026”.
“As per the recent research study report, the global Facade System Market size & share will increase from USD 290.84 Billion in 2019 and is expected to reach USD 485.67 Billion by 2026. The global Facade System Market is expected to grow at a compound annual growth rate (CAGR) of 7.6% from 2020 to 2026”.
Structural elements that offer lateral and vertical resistance to wind and other forces, as well as the building envelope elements which provide weather resistance as well as thermal, acoustic, and fire resistance, make up facade systems. The type of façade system used is determined by the building's type and size, as well as local planning criteria that may influence the building's look in relation to its surroundings. For example, while brickwork is often specified for the exterior façade, light steel wall elements (known as infill walling) have largely replaced more conventional blockwork in the construction of the inner leaf.
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Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Facade System Market?
2) What is the market size, share of the Facade System Market?
3) Who are the top market players in Facade System Market?
4) What will be the future market of the Facade System Market?
Industry Major Market Players
Louisiana Pacific Corporation
Vinh Tuong Industrial Corporation
Nippon Sheet Glass
Dryvit Systems Inc.
Sto SE & Co KGaA
James Hardie Industries PLC
Universal Cement Corporation (UCC)
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This cladding system creates a ventilated space between the cladding and the insulation, preventing thermal bridging and condensation. This provides excellent thermal efficiency while also lowering humidity levels. As a result, it is widely accepted by architects, developers, and builders as the most efficient system for addressing building insulation issues.
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Growing Construction Activities
The increase in construction-related activities has been a key driver of the industry. In addition, technical advancements are resulting in the creation of energy-efficient materials. This advanced product absorbs solar energy and is widely used as a secondary source of electricity generation in a variety of commercial as well as residential buildings. Over the forecast period, the market is projected to expand at a significant pace. This expansion can be attributed to increasing customer purchasing power, especially in China, India, Japan, and Brazil countries, as well as the need to provide employees with a healthy working atmosphere. Furthermore, the building's look is robust, harmonious, and modern thanks to the use of metal composite materials. The increasing use of such composite materials in the construction of facades is predicted to drive market growth in the coming years.
Cladding is in high demand due to its wide variety of applications in the residential and non-residential industries, as it offers advantages such as insulation, fire protection, pollution prevention, and aesthetic appeal to buildings.
The non-residential sector is expected to account for the majority of market share; builders and contractors have recognized the value of façade systems, which shield buildings from external environmental forces while also improving their appearance; these are the qualities that homeowners seek. In addition, the increasing trend of designing green buildings to tackle global warming and rising energy costs provide enormous growth potential for this sector.
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The current COVID-19 pandemic has had a major effect on the global construction industry. Furthermore, the total shutdown of several cities in key countries like China, the United States, Germany, the United Kingdom, and India had a significant impact on the global economic slowdown in 2020. Furthermore, the virus's rapid spread has prompted the termination of a number of ongoing residential, commercial, and industrial construction projects around the world. As a result of the slower growth in the building and real estate industries due to lower demand for buying homes and offices, demand for facade goods and services is projected to slow down in the near future. Furthermore, the federal governments' relaxation of lockdown measures, combined with the release of economic relief packages in key countries such as the United States, the United Kingdom, China, and Germany, are expected to restore business growth over the next seven years.
Asia Pacific is projected to Dominate Global Facade System Market Growth
Asia Pacific had the highest share of more than 38.5% in 2020. The growth of the regional market is being aided by the increased construction of new commercial and industrial buildings in countries such as China, India, and Southeast Asia. Furthermore, emerging facade design patterns that are sensitive to geographical location, building use, social aspects, and safety and sustainability concerns are expected to significantly fuel the APAC market's growth in the coming years. Furthermore, the regional market is expected to be driven by the increasing focus on energy efficiency, as well as the hot and humid climatic conditions in the Middle East and Africa region.
Furthermore, the production of creative, eco-friendly materials is poised to encourage customers to redevelop/renovate buildings, especially in the United States and the United Kingdom. These regions are extremely adaptable to modern technology. As a result, the product is expected to have a high penetration rate in both the commercial and residential sectors, positively impacting the market growth.
Browse the full “Facade System Market by Type (Cladding, EIFS, Siding, and Curtain Wall) By Product Type (New Ventilated, Non-Ventilated and Others), By End-Use Industry (Residential, Commercial and Industrial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/facade-system-market
The global facade system market is segmented as follows:
By Product Type:
By End Use:
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