New York, NY 14 Nov 2019 : According to a new report published
by Polaris Market Research the global facades
market is anticipated to reach USD 376 billion by 2026. Owing
to the need to bring down the cost incurred in heating and cooling down the
buildings, and for achieving power efficiency, the market for facades is
gaining traction. Companies these days are also using composite materials which
offer strength, and flexibility and can be used to give a good appearance to
the buildings. All these factors are anticipated to drive the demand for
facades and the market is expected to grow with a CAGR of 7.8% during the
forecast period.
There has been a substantial rise
in the commercial buildings development such as malls, offices, multiplexes,
technology parks, hotels etc. in countries such as India, China and Brazil.
These commercial buildings demand energy efficient solutions which are cost
effective and can reduce the overall cost for air conditioning and heating.
Construction companies are installing facades to achieve this, thus achieving
large cost cutting. This has pushed the market for facades significantly.
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Ventilated facades market has the
largest market share owing to the factors such as heat ventilation and
soundproofing. On the other hand, basic materials such as glass and aluminum
are favored in the market due to availability, light weight and cost. Composite
materials are also being adopted in the market and are expected to push the
market during the forecast period. There has been an increasing demand in green
buildings and structures and government from many countries are focusing on
building these green structures. Facades are used by different construction
companies to achieve these goals.
In the
recent years, the worldwide facade market has displayed a huge development.
Pushed by the rising interest for alternative energy sources through business
and private infrastructure development, the market has grown at a high pace.
This is attributable to the most recent technical progressions, which prompted
the boost of power saving façade materials. As a result, the market is presumed
to expand extensively as the infrastructure activities are seen to be
developing at a vigorous pace. Asia Pacific region is anticipated to have the
largest market share followed by Latin America. This is majorly due to growing
economies in these regions. The market in the Middle East region is also
gaining traction owing to harsh climatic conditions and large construction
projects which are being carried out in this region. North America and Europe
have a considerable market share owing to redevelopment projects.
Implementation and adoption of smart cities and smart buildings globally has
significantly pushed this market.
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Key Findings from the study suggest
the ventilated facade market is projected to witness a huge development during
the forecast period due to benefits such as energy saving and rich ambience.
The commercial application segment was the dominant section in 2017, and the
facade demand is expected upon to increase over the coming years. Asia Pacific
is estimated to dominate the global facades market over the forecast years and
North America, Europe region shows signs of growth potential. Government
activities towards infrastructure advancement and the ascent in development of
business properties over the globe has supplemented to the development of the
façade market.
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