Exterior wall systems offer characteristics like energy efficiency, durability, weather resistance, and ease of installation over traditional building materials. The growing demand for energy efficient and sustainable buildings worldwide have propelled the adoption of exterior wall systems which provide insulation, improve airtightness and reduce carbon footprint of buildings.
The Global exterior wall system market is estimated to be valued at US$ 162.91 Bn in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period between 2024 to 2031.
Key Takeaways
Key players operating in the exterior wall system market are Etex Group, SCG, Alcoa Corporation, 3A Composites, Avient Corporation, Louisiana-Pacific Corporation, Nichiha Corporation, CSR Limited, CRH, Cornerstone Building Brands, Kingspan Group, Saint-Gobain, Boral Limited, James Hardie Industries, Cemex, Sika AG, Rockwool International, GAF, Owens Corning, and Häfele. Key players are focused on development of innovative and sustainable products to gain competitive edge.
Rapid urbanization, growing construction industry, and changing weather patterns are fueling the demand for sturdy and weather resistant building envelopes. Governments across the world are also implementing stringent regulations regarding energy efficiency in buildings which is augmenting the exterior wall system market.
The market is witnessing high growth in regions like Asia Pacific and Middle East & Africa due to increasing construction activities in countries like China, India, and GCC countries. Leading manufacturers are expanding their operations in developing markets through partnerships and acquisitions to tap the growth opportunities.
Market key trends
The key trend gaining prominence in the Exterior Wall System Market Demand is the rising popularity of insulated metal panels. Insulated metal panels provide insulation and exterior cladding in single unit and thereby eliminate thermal bridging. They offer higher strength to weight ratio than traditional materials and reduce construction time. Moreover, these panels have high recyclability and reusability which makes them sustainable. With advantages like durability, ease of installation and maintenance, insulated metal panels are widely replacing conventional building materials in both commercial and industrial construction.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in exterior wall system market is low as setting up a manufacturing plant requires huge capital investment and established distribution network.
Bargaining power of buyers: The bargaining power of buyers is moderate as exterior wall systems have substitutes and buyers can switch to other construction materials if prices are not competitive.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials used in exterior wall systems such as cement, metals, polymers etc. have many suppliers in the market.
Threat of new substitutes: The threat of new substitutes is moderate as there are substitutes available such as wood panels however exterior wall systems have advantage of durability and maintenance.
Competitive rivalry: The competitive rivalry in the market is high due to presence of many international players.
Geographical Regions
North America region accounts for the largest share in the global exterior wall system market in terms of value due to high construction activities for both residential and commercial infrastructure.
Asia Pacific region is expected to be the fastest growing region during the forecast period owing to rapid urbanization and infrastructure development projects underway in major economies like China and India. Countries are witnessing rising investments in construction industry.
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*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile