Facades market to experience growth through 2025
The global facades market is expected to reach $337.8 billion by 2025, according to a new report by Grand View Research Inc.
The facades market is anticipated to grow swiftly over the forecast period owing to the development of advanced materials with capabilities that offer safety, as well as a visually appealing texture. The industry is governed by the following key trends:
Facades combine the attribute of both appearance and superior performance in a mode unlike any other building system, which is anticipated to drive product demand significantly over the next few years.
The key factor expected to drive the facades industry is the need to lower heating and air-conditioning cost and achieve energy-efficiency, the study found. The trend in reducing the cost is projected to result in the development of sustainable products over the forecast period.
The popularity of green buildings demands high-transparency glass that allows in light, while maintaining heat-resistance. The forecast period is expected to witness the application for high-performance, energy-saving and solar control facades contributing toward higher economic benefits and eco-sustainability. This has resulted in demand for triple-glazed facades, which have a lower u-value in comparison to double glazed structures.
Further key findings from the report suggest:
- The facades market was valued at $179.7 billion in 2016 and is expected to grow at a CAGR of more than 7.3 percent over the next eight years owing to a rise in construction related activities in the U.S., China, Japan and India.
- The ventilated facades market is expected to witness a healthy growth at a CAGR exceeding 6.5 percent over the forecast period owing to benefits they provide in terms of energy saving and rich aesthetics.
- Several government initiatives toward infrastructure development and the rise in PPP model enhance the construction of commercial properties across the globe, which has subsequently attributed to the growth of the facades market.
- The commercial end-use segment was the dominant segment in 2016, and the facades’ demand across this sector is expected to increase over the forecast period, owing to several benefits offered by the facade system, such as acoustic insulation, thermal insulation, and natural ventilation.
- Asia Pacific dominated the market with more than 30 percent revenue share in 2016, wowing to growing construction of new commercial and industrial buildings in China, India, and South-East Asia over the next few years.
Topics: Architectural Firms, Building Owners and Managers, Construction Firms, Exteriors, Sustainable Communities, Sustainable Trends and Statistics, Technology, Thermal Envelope - Building Envelope, Windows - Glass and Glazing Strategies and Systems