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January 2024
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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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Facade systems are exterior enclosures or outer walls of buildings which support and protect the building structure from external elements. These systems are composed of glass, metal, stone, and wood that create an attractive architectural design. Facade systems help in maximizing natural light in buildings while reducing energy consumption and decreasing heating and cooling loads. Market key trends: The growing need for energy-efficient buildings is a major factor driving growth of the facade systems market. Facade systems including fiberglass, glass fiber reinforced concrete, terra-cotta, and metal help buildings reduce energy consumption by 25-30%. They aid in insulation, reduce pollution, improve ventilation, and minimize heat transfer between indoors and outdoors. Rapid growth of the construction industry worldwide coupled with government initiatives and policies promoting green buildings is fueling adoption of energy-efficient facade systems. Moreover, product innovation led by key players to develop lightweight, durable, and versatile facade material solutions capable of withstanding extreme climatic conditions is supporting expansion of the market. Porter’s Analysis Threat of new entrants: Low capital requirements and proven technology make the threat of new entry moderate. However, established players have built strong brand recognition and supply chain advantages. Bargaining power of buyers: Buyers have moderate bargaining power as facade systems are generally standardized solutions. However, larger construction projects provide buyers with negotiation leverage. Bargaining power of suppliers: Major raw materials like glass and aluminum are commodity materials supplied by several global players. This limits the bargaining power of individual suppliers. Threat of new substitutes: Potential substitutes like natural stone facades provide competition. However, glass and metal facade systems have advantages in terms of lightweight, durability and design flexibility. Competitive rivalry: Intense competition exists among top players to gain projects from architectural and construction firms. Continuous innovation in materials, designs and sustainability drives the competitive rivalry in the market. SWOT Analysis Strengths: Growing construction industry worldwide, Cost and energy efficiency of glass and metal facade systems, Aesthetic designs and flexibility. Weaknesses: Volatility in raw material prices impacts margins, Installation complexities of large and customized designs, Vulnerability to economic cycles in construction. Opportunities: Rising commercial and industrial construction in Asia Pacific and Middle East, Innovations in BIPV (Building Integrated Photovoltaics) facades, Growth in retrofit and renovation activities. Threats: Stringent regulations regarding energy efficiency may impact product differentiation, Supply chain disruptions impact project timelines, Competition from substitute materials. Key Takeaways The Global Facade Systems Market Demand is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, due to increasing investments in green construction and benefits of facade systems in energy efficiency. Asia Pacific dominates the market currently, representing over 35% share due to rapidly growing construction industry in China, India and other developing countries in the region. Regional analysis: Asia Pacific is the fastest growing as well as the dominating region in the facade systems market. Rapid urbanization and growth in construction activities in China and India are fueling demands. Countries like Japan, South Korea, Australia are also major markets in the region due to increasing focus on sustainable construction. Europe and North America are matured markets wherein Germany, UK, US account for majority demand on account of robust commercial construction and renovation activities.Middle East and Africa are expected to register highest growth rates over the forecast period with major opportunities in GCC countries and projects like Dubai Expo 2020. Key players analysis: Key players operating in the facade systems market are Saint-Gobain, Nippon Sheet Glass, Asahi Glass, Central Glass, Guardian Industries, Schott AG, China Glass Holdings, Xinyi Glass, CSG Holdings, Taiwan Glass, Kibing Group, AGC Glass. Read More: https://www.pressreleasebulletin.com/facade-systems-market-market-size-share-analysis-growth/
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