Facades Market size is forecast to reach $242 billion by 2025, after growing at a CAGR of 5.6% during 2020-2025. With rise in Building and construction industries, the Facades Market is witnessing an increase in demand. Growing public interest towards environment-friendly façade (i.e green façade) will further enhance the overall market demand for Facades during the forecast period.
Material – Segment Analysis
Glass façade holds the largest market share in the facades market due to increase in overall construction activities due to urbanization is a major factor for the growth of facades market. Rise in Consumer spending power and demand for a secured and protected workplace environment is growing demand for facades globally. Facades are vital components of the building & covers roof, street awnings, and ventilation louvers, along with the vertical and horizontal aspects of the building. Facades provides durability, safety & aesthetic feel, and focuses on energy efficiency and interior comfort requirements of the building. Increasing adoption of facades in rapidly growing construction industry for commercial and residential projects is expected to boost demand for facades and drives growth of the global market over the forecast period.
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Application – Segment Analysis
Commercial sector has been the primary market for Facades, due to the rise in the number of commercial buildings, such as retail stores, hotels, medical centers, warehouses, and garages. Corporates offices are highly dependent on façade as, it is one of the most integral pieces to the overall design of the structure, as it adds a unique personality and character to it. There is ‘n’ number of buildings that settle for standard designs and perfectly meet the structural regulations but always lack their identity, character, and personality. A Façade can play a huge role in this as it imparts that uniqueness to the structure which negates the detrimental effect of the building which lacks that something special. So, facades are very important and integral part in commercial sector which will drive the market demand for Facades.
Geography – Segment Analysis
North America dominated the Facades Market with a share of more than 30%, followed by Europe and APAC. Countries such as US, Canada are the major market for facades in this region as, most of the world’s biggest companies’ headquarters are situated there such as google, apple, along with many other IT industries. Whereas the increase in number of skilled professionals that includes- qualified architects, consultants and manufacturers in construction industry, who possess in-depth knowledge about facade market and know their better usage in construction industry, has brought more professionalism to the industry and hence have contributed to their significant rise.
Drivers – Facades Market
Growing demand and Innovations in facades
Facades market has a promising future because energy conservation is the need of the hour and facades have the potential to generate as well as restore renewable energy. The scope of advancements in facades to produce electronically controlled facades, automation in facades and use of advanced photovoltaic cells and heat filters in facades are also some of the promising factors for future growth of Facades market. With innovative new materials and traditional materials animated by new technologies, façades now offer a cutting-edge visual experience – but at the heart of these advancements lies the endeavour to create environments that will be comfortable for the end-user.
Implementation of Stringent Environment Regulations
Increasing adoption of sustainable and environment friendly products such as green façade, which will increase the market demand for Facades in the near future. The concept of Green Building, to be specific, Green Facade is one of the most promising ways to ensure energy savings in buildings nowadays. It contributes to the reduction of the urban heat island effect in the hinterland. The shadow effect provided by the plants on the facade is the most significant parameter that serves the purpose of controlling the heat wave and pollution.
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Challenges – Facades Market
Impact of COVID 19 on Façades
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. One of the major difficulties, market is facing are the shutdown of all kinds of transportation. Global crisis for all sectors including shipping, which was hit by slowing demand in goods’ production and exports had slowdown the market. Whereas construction business is completely lost in all these because, so much man power used during construction works.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Facades Market. Major players in the Facades Market are AGC Glass Europe, BASF SE, Avery Dennison Corporation, Dow Corning, EFP European Facade Products B.V., among others.
In 2019, Elite Façades Holding limited acquired Elite Façades Ltd which is a market leader in the built-up roofing and cladding systems on residential and commercial sites. This acquisition ensures additional investment to the Elite Façades Ltd to expand their products and services to a wide-ranging clientele.
In 2018, Sika AG acquired a major part of Index Construction Systems and Products, a leading manufacturer in waterproofing and roofing systems that are headquartered close to Verona, Italy. This acquisition enables Sika group to expand its product portfolio and significantly build up their presence in Italy.
Asia-Pacific dominates the Facades Market owing to increasing demand from applications Buildings and Construction industries.
The growing corporate industries, is likely to aid in the market growth of facades.
Increasing adoption of sustainable and environment friendly products such as green façade, which will increase the market demand for Facades in the near future.
Wooden facade is much more flammable, which will create hurdles for the Facades Market.
Related Reports :
A. Precasting Market
B. Cladding Systems Market
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