Stratview Research has published a new market research report titled Exterior Wall System Market. According to the report, the Exterior Wall System Market is Segmented by Type (Ventilated and Non-Ventilated), by Material Type (Vinyl, Fiber Cement, Stucco, Masonry, Wood, and Others), by Application Type (Residential, Commercial, and Industrial), and by Region (North America, Europe, Asia-Pacific, and Rest of the World). (North America, Europe, Asia-Pacific, and the Rest of the World).
Stratview Research has concluded that the exterior wall system market was estimated at USD 139.4 billion in 2021 and is likely to grow at a CAGR of 7.33% during 2022-2028 to reach USD 229.33 billion in 2028.
The report identifies and discusses the short-term as well as long-term opportunities for the market participants across segments, helping them to build their strategies targeting high-growth market segments.
An exterior wall system is used either to absorb or shed the majority of bulk rainwater penetration before it enters the covered spaces of any wall assembly.
COVID-19 IMPACT
The global pandemic Covid-19 significantly impacted the exterior wall system market in the year 2020. The market is expected to revamp owing to the revival of the construction sector post-pandemic.
Market Drivers
The growth of the exterior wall system market is primarily driven by-
- Increasing commercial infrastructure in the Asia-Pacific region,
- Rising per capita expenditure for residential infrastructure,
- Growing replacement of aging infrastructure.
Segment Analysis
Based on the type, the market is segmented as ventilated and non-ventilated. The ventilated segment is estimated to account for the major share of the market during the forecast period. The major factor driving the growth of the segment is its ability to remove stale air outside, as a controlled indoor ventilated environment is comfortable and healthy for occupants and less inclined to mold growth and dust mites.
Based on the material type, the market is segmented as vinyl, fiber cement, stucco, masonry, wood, and others. Stucco is estimated to witness high growth in the market during the forecast period. The major factor driving the segment’s growth is its ability to fix hairline cracks without patch-up, letting the material remain good at moisture in cold climates.
In terms of regions, Asia-Pacific is estimated to lead the market during the forecast period. Shifting focus to slow down the construction solutions to decrease greenhouse gas emissions is expected to increase market expansion. China and India are the growth engines of the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
FAQs in the Report-
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About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries. With this report, Stratview research also offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected] or connect with our experts at - +1-313-307-4176.
