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Exterior Wall Systems Global Market Report 2024 Global Market Analysis, Trends, Growth, Research And Forecast 2033
Exterior Wall Systems Global Market
According to The Business Research Company's, The exterior wall systems market size has grown rapidly in recent years. It will grow from $216.3 billion in 2023 to $239.17 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to construction boom, construction boom, sustainable building practices, urbanization and population growth, building renovation and retrofitting.
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Market Drivers and Trends:
The increasing urbanization is expected to propel the growth of the exterior wall systems market. Urbanization refers to the process of the increasing growth and expansion of cities, often accompanied by population migration from rural to urban areas. Increasing urbanization creates a strong demand for exterior wall systems, as these systems are essential for constructing, renovating, and maintaining buildings in densely populated urban environments. For instance, in April 2022, according to the World Economic Forum, a Switzerland-based independent international organization, more than 4.3 billion people, or 55% of the world's population, lived in urban settings, and the number is expected to rise to 80% by 2050. Therefore, increasing urbanization is driving the exterior wall system market.
Major companies operating in the exterior wall systems market are investing in the development of exterior wall systems to create advanced and innovative solutions that address the evolving needs of the construction industry, from sustainability and energy efficiency to aesthetics and safety. For instance, in May 2023, Exceler Building Solutions, a US-based producer of exterior panel building systems, raised $5 million through an Opportunity Zone Fund designed to invest in the future of green building and the ongoing operations and growth strategy of the company. The fund is targeted to raise a total of $20 million. The funding will be used to accelerate the development and commercialization of Exceler's next-generation sustainable exterior wall systems, and this investment fund is designed to encourage investment in economically distressed areas and offers investors a number of tax benefits, including the deferral of capital gains taxes on investments held for at least five years.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Nippon Sheet Glass Co.Ltd.; Saint-Gobain Gyproc India; Sika AG; Etex Group Co.; Owens Corning; Evonik Industries AG; Holcim Group Co.; USG Boral Corp.; DuPont Inc.; Fletcher Building Co.; Egger Group; Toray Industries Inc.; CSR Ltd.; CRH plc; Cornerstone Building Brands Co.; Schweiter Technologies AG; AGC Inc.; James Hardie Australia Pty Ltd.; Alcoa Corporation; 3A Composites; Avient Corporation; Louisiana-Pacific Corporation; Nichiha Corporation; Cornerstone Building Brands; The Dow Company; Boral Limited; Siam Cement Group; USG Corporation; Kingspan Group; Cembrit Holding A/S; Tata Steel Limited; ArcelorMittal Corp.; Nippon Steel & Sumitomo Metal Corporation; BlueScope Steel Limited; Ruukki Construction Oy; Alubond U.S.A.; Alstrong Enterprises India Pvt. Ltd.; Aludecor Lamination Pvt. Ltd.; Alumax Panel Inc.; Alumil S.A.
Exterior Wall Systems Market 2024 Key Insights:
• The exterior wall systems market size is expected to grow to $341 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.
• Urbanization Accelerates Growth In The Exterior Wall Systems Market
• Exceler Building Solutions Secures $5 Million Investment To Drive Innovation In Sustainable Exterior Wall Systems
• Asia-Pacific was the largest region in the exterior wall systems market in 2023.
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