Facade systems are widely used in the construction industry as they enhance the aesthetic appeal, thermal resistance and durability of buildings. The facade systems comprised of cladding, windows, sun control systems and rain screen systems. These systems provide protection from weather elements, improved insulating properties and help buildings blend harmoniously with their surroundings. Growing construction of industrial, commercial and residential buildings is fueling the demand for facade systems.
The global Facade Systems Market is estimated to be valued at US$ 361.49 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising Infrastructure Development Projects
The rising number of infrastructure development projects across both developed and developing economies is set to propel the facade systems market growth over the forecast period. Governments worldwide are investing heavily in infrastructure development such as roads, bridges, dams, hospitals etc to support economic growth. As facade systems play a vital role in preventing weathering and enhancing the aesthetic appeal of infrastructure assets, their demand is expected to rise accordingly. For instance, in 2020 the Indian government announced the National Infrastructure Pipeline covering 6,500 projects with a projected investment of US$ 1.5 trillion between 2020 to 2025. This rising infrastructure spending worldwide will generate high demand for quality facade systems during the forecast period.
Segment Analysis
The global facade systems market is dominated by the curtain wall segment. Curtain walls are non-load bearing exterior walls that can be used to create large areas of glazing with aluminum or steel frames. The demand for curtain wall facades is high due to their aesthetic appeal, variety of designs and ability to allow natural light within buildings. Curtain wall systems are used in commercial buildings as they reduce building weight and maximize available floor space.
Key Takeaways
The global facade systems market is expected to witness high growth over the forecast period. Rapid urbanization, growing construction industry and increasing commercial construction especially in emerging economies are fueling market demand. The global Facade Systems Market is estimated to be valued at US$ 361.49 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023-2030.
Regional analysis
Asia Pacific dominates the global facade systems market and the trend is expected to continue owing to strong growth in construction activities in China, India and other Southeast Asian countries. rising affluence, urban population growth and government investments in infrastructure are driving the facade systems market in Asia Pacific. North America is also projected to account for a significant share in the global market.
Key players
Key players operating in the facade systems market include Saint-Gobain, Nippon Sheet Glass, Asahi Glass, Central Glass, Guardian Industries, BASF SE, Sto SE & Co KGaA, Knauf Insulation, Terraco Group, Schuco. Saint-Gobain offers comprehensive portfolio of facade solutions under various brands like SGG, Weber and ISOCHEAM.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it