Exterior Wall Systems Market Growth Size, Share, Industry Analysis, Future Growth, Business Prospects and Forecast to 2028
The global exterior wall systems market size is projected to reach USD 364.61 billion by 2027, exhibiting a CAGR of 7.2% during the forecast period. Increasing urbanization worldwide will be one of the most prominent factors fueling the growth of this market, observes Fortune Business Insights™ in its report, titled “Exterior Wall Systems Market Size, Share & COVID-19 Impact Analysis, By Material (Vinyl, Ceramic Tiles, Plasterboard, Glass Panel, EIFS, Fiber Cement, Wood Board, HPL Board, Bricks & Stone, and Others), Type (Ventilated Façade, Curtain Wall, and Non-Ventilated Façade), End-Use (Residential, and Non-Residential), and Regional Forecast, 2020-2027”. The UN World Urbanization Prospects 2018 estimates that nearly 70% of the global population will be housed in urban areas by 2050.

According to the UN, India, China, and Nigeria will be the global urban hotspots, adding 416 million, 255 million, and 189 million urban dwellers, respectively, in the next three decades. Urban areas typically comprise a large of residential and commercial infrastructures that require efficient and effective external protection from inclement weather, natural disasters, and pollution. Exterior wall systems provide this protection to buildings owing to their properties of thermal insulation and the ability to prevent excessive water penetration that can weaken structural integrity. Thus, rapid growth in urban spaces around the globe will create excellent opportunities for players in this market.

Regional Insights

Infrastructural Development Enable Rapid Market Expansion in Asia Pacific

With a market size of USD 86.45 billion, Asia Pacific commanded the exterior wall systems market share in 2019 and is expected to continue its exceptional performance during the forecast period. This expectation from the region is based on the massive investments by governments in India and China to support infrastructural development. More specifically, these countries are aggressively implementing policies and adopting advanced technologies to build sustainable critical infrastructures such as airports and railways, which is likely to spike the demand for exterior wall systems in the region.

In Europe, favorable policies of the European Union (EU) supporting the construction of energy-efficient buildings in the continent are accelerating market growth in the region. In North America, the speedy uptake of highly sophisticated construction technologies and materials will propel regional market growth.

Competitive Landscape

Development of Sustainable Insulation Solutions by Key Players to Augment Market Potential
Key players in this market are concentrating their resources and technologies towards developing next-gen, sustainable exterior and interior insulation solutions for the construction industry. To further enhance their R&D capacity, companies are also forging alliances with other players as well as engaging in acquisition activities.

https://www.fortunebusinessins....ights.com/exterior-w