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Facade Systems Market worth $397.2 billion by 2023: BASF (Germany) and Sto SE & Co KGaA (Germany) are the Major Players

06-20-2019 04:50 PM CET | Industry, Real Estate & Construction

Press release from: MarketsandMarkets.com

Facade Systems Market worth $397.2 billion by 2023

Facade Systems Market worth $397.2 billion by 2023

The report "Facade Systems Market by Type (EIFS, Curtain Wall, Siding, and Cladding), End Use (Residential and Non-residential), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Global Forecast to 2023" The façade systems market is estimated at USD 272.7 billion in 2018 and is projected to reach USD 397.2 billion by 2023, at a CAGR of 7.8%. The rising infrastructural and construction activities drive the demand for façade systems. Furthermore, the increase in demand from end-use industries for façade system further boosts the market growth.

Browse 149 market data Tables and 35 Figures spread through 167 Pages and in-depth TOC on "Facade Systems Market - Global Forecast to 2023"

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The EIFS segment is projected to grow at the highest CAGR, in terms of value, in the global façade systems market from 2018 to 2023
Exterior insulation and finish system (EIFS) is a non-load bearing exterior wall treatment that utilizes rigid insulation boards on the wall sheathing with an exterior skin of plastic appearance. EIFS insulation materials are made of mineral wool, polystyrene foam, and plastic foam. EIFS offers excellent insulation properties and design flexibility and has been a popular choice for exterior building cladding for several decades.

Residential segment is estimated to be a major consumer in the façade systems market, in terms of volume, in 2018
Façade systems are used in residential buildings, majorly in apartments, bungalows, dormitories, duplexes, and other house designs (townhouses, units, and villas). The use of façade systems in residential buildings has become more advanced and preferable, owing to the rising demand for greenhouse buildings. The spending in residential construction is estimated to witness a surge, particularly in the emerging Asia Pacific and South American regions; there is a trend of rapid urbanization observed in these regions, resulting in a higher growth rate for the residential construction market, as compared to developed markets. Aesthetic appeal, along with properties such as durability and protection from extreme weather, has also driven the use of exterior wall systems in the residential sector. Other benefits such as fire protection and high thermal efficiency will further drive the demand. The most favorable materials for residential include fiber cement, vinyl, bricks, and wood.

Asia Pacific is projected to account for the largest share in the façade systems market during the forecast period
Asia Pacific is a hub of foreign investments and growing industrial sectors largely due to low-cost labor and cheap availability of lands. The increase in demand for façade systems can largely be attributed to the growing infrastructure activities in the construction industries. The demand for façade systems is growing rapidly in the region, due to the high growth in the infrastructure sector for aesthetic appeal.

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Key players operating in the façade systems market include Saint-Gobain (France), Nippon Sheet Glass (Japan), Asahi Glass (Japan), Central Glass (Japan), Guardian Industries (US), BASF (Germany), Sto SE & Co KGaA (Germany), Dryvit Systems Inc. (US), ParexGroup SA (France), Terraco Group (UK), Etex Group (Belgium), James Hardie Industries PLC (Ireland), Nichiha Corporation (Japan), Boral Limited (Australia), Louisiana Pacific Corporation (US), Kingspan PLC (UK), Georgia-Pacific LLC (US), Knauf (Germany), USG Corporation (US), SHERA (Thailand), Universal Cement Corporation (UCC) (Taiwan), and Vinh Tuong Industrial Corporation (Vietnam). These players have adopted various growth strategies to expand their global presence and increase their market share. Mergers & acquisitions, expansions, investments, new product launches, and partnerships are some of the major strategies adopted by the key players operating in the façade systems market.

BASF (Germany) is a leading global manufacturer of chemicals. Its product portfolio ranges from chemicals, plastics, performance products, agricultural solutions, and oil & gas to functional and material solutions. The company operates through the following segments—functional materials & solutions, performance products, chemicals, oil & gas, agricultural solutions, and others. BASF offers EIFS solutions under its functional material & solution segment. BASF’s chemicals division is the worldwide supplier of chemical systems and formulations such as concrete admixture, cement additives, underground construction solutions, flooring systems, exterior insulation and finishing systems, and others for the construction industry. It has many renowned brands in this category and also a broad technology base. It has a strong foothold in Europe, Asia Pacific, Africa, and the Americas, with more than 350 production facilities, globally. BASF focuses on expanding its presence in emerging markets and maintaining a strong position in the existing ones.

Sto SE & Co KGaA (Germany), is one of the leading building product manufacturers engaged in the manufacturing of facade insulation, rain-screen cladding, paints, plasters, acoustic systems, concrete restoration, and floor coatings. The company’s product portfolio is divided into four product groups—façade systems, façade coating, products for interiors, and other product groups. The company is a leader in the field of thermal insulation composite systems. It has 26 subsidiaries in Europe, Asia, and the US and 61 direct export partners across the globe. The company focuses on improving its technology by developing high-quality products and meeting the existing needs of the industry. It also focuses on catering to a diverse and wide customer base by expanding its distribution network and developing innovative products. It emphases on internal growth and expansion to enhance its product portfolio. In the near future, the company aims to consolidate its market share and product portfolio through product and application innovations in faster-growing regions by utilizing its existing strong manufacturing, sales, and distribution networks.

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