Exterior Wall System Market Size By Type (Ventilated, Non-Ventilated), By Material (Vinyl, Fiber Cement, Stucco, Masonry, Wood), By Application (Residential, Commercial, Industrial), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Industry Trends

Exterior Wall System Market size surpassed USD 234.6 billion in 2020 and is projected to grow at a 7.9% CAGR from 2021 to 2027. Increasing government initiatives and investments toward urban infrastructure across the globe will primarily drive industry growth.
 

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Rise in the global population and migration of people to urban areas each day for a better quality of life will significantly trigger product demand in housing infrastructure, creating a massive consumption in the industry. Ongoing technological advancements across various precast, modular, and prefabricated building structures, specially designed for residential & commercial infrastructure, will propel product demand. Furthermore, shifting consumer preferences toward energy-saving building materials and equipment as well as rising applications of materials with high R-value in large & small-scale buildings are anticipated to boost exterior wall system industry expansion.
 

Fluctuating raw material prices is poised to restrain market growth; however, a positive outlook for urban infrastructure coupled with increasing government spending on housing/commercial infrastructure will catalyze market growth.
 

Rising importance of ventilation in building spaces to support market growth

Ventilated segment is likely to witness over 8% CAGR through 2027. These allow fresh air in the building and removes the moisture-laden and stale air outside. By limiting air exchange to control ventilation, exterior wall systems homes allow external air to be filtered for allergens and dehumidified, producing better quality of indoor air.
 

The growing importance of ventilation and airtightness of the exterior wall enable air to enter the building interiors in controlled amounts will positively influence exterior wall system market penetration. A controlled indoor ventilated environment is both healthy and comfortable for occupants and less prone to mold growth and dust mites.
 

Easy and cost-effective repair solutions to surge revenue generation of stucco segment

The exterior wall system market from Stucco segment is set to generate more than USD 70 billion in revenue by 2027. Rising demand in walls to fix hairline cracks without making the patch-up more noticeable than the defect is expected to fuel market expansion. Cracks between 1/8 to 1/4 inch can be restored by scraping out the topcoats to expose the scratch coat. The material also stands up well to moisture in cold climates and can be coated with elastomeric coatings. Moreover, its wide usage for a variety of wall finishing applications and easy & cost-effective repair solutions will influence the market revenue.
 

Rising preference for energy-efficient building solutions to escalate growth

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In 2020, residential applications accounted for around USD 110 billion propelled by increasing consumer awareness pertaining to rising electricity bills and the necessity for energy-efficient building solutions. These have stimulated the product demand across residential & commercial buildings. As per the International Energy Agency (IEA), electricity consumption for heating accounted for over 50% of global electricity consumption in 2018. The necessity for effective energy conservation due to the rising energy demand along with growing concerns regarding resource scarcity will spur the exterior wall system market size by 2027.
 

The implementation of several programs such as LEED, Energy Star building certification, and ICC’s Model Energy Codes is influencing industry dynamics. Regulatory authorities are continuously focusing on reducing heat transfers through the building envelope and are employing legislation, which will promote zero-energy buildings.
 

Expending infrastructure developments to foster Asia Pacific market demand

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Asia Pacific exterior wall system market size is estimated to observe over 8.5% CAGR through 2027 led by expanding infrastructure development coupled with the increasing penetration of advanced building materials for energy efficiency and durability of building structures. Government schemes favoring green building construction in China, South Korea, India, and Malaysia are fueling product demand. In June 2020, The Indian Green Building Council (IGBC) signed a memorandum of understanding with Mangaluru Smart City Ltd. (MSCL) to support the green building movement and sustainable development across Mangaluru. It aims to save around 50% - 52% of energy per annum in addition to bringing down the carbon footprint. The shifting focus toward sustainable construction solutions to decrease greenhouse gas emissions is expected to trigger market expansion.
 

Product innovations & differentiation to boost competition in the industry

Manufacturers are constantly focusing on product innovations, differentiation mergers, joint ventures, and geographic expansion strategies to attain a competitive edge in the industry. For instance, in November 2019, USG Corporation introduced Sheetrock brand Eco smart panels, featuring Firecode X (UL Type ULIX), a sustainable building material that reduces energy consumption, carbon emissions, and improving building life cycle.
 

The key exterior wall systems market participants include Saint-Gobain S.A., The Dow Company, Sika Group, LafargeHolcim Ltd, SIKA Group, Boral limited, USG Corporation, and Owens Corning.
 

This market research report on exterior wall system includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Sq. Meters and revenue in USD Million from 2017 to 2027 for the following segments:

Market, By Type

• Ventilated
• Non-Ventilated

Market, By Material

• Vinyl
• Fiber cement
• Stucco
• Masonry
• Wood
• Others

Market, By Application

• Residential
• Commercial
• Industrial

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE