The business intelligence report titled ‘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’, available with MarketStudyReport, exterior wall system market is slated to grow exponentially by 2027.
 

Increasing product demand and technological advancements are fueling the growth of exterior wall system market. Furthermore, growing population and rapid urbanization are causing changes in climate and accelerated global warming, which in turn, increased the prevalence of wildfires. This is compelling manufacturers to shift their preference towards exterior wall systems, so as to lessen the impact of the damage due to fires.

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Notably, sustainable construction methods have been gaining prominence from the past few years for improving the efficiency of the building exterior. Presently, exterior wall systems are combined with solar panels to sustain the energy requirements of the infrastructure considerably.

Citing an instance, Elemex, a company serving the commercial architectural industry, introduced Solstex, a novel solar facade system that enables architects to combine lightweight solar panels into a building's facade to generate renewable energy. Such innovations are expected to enhance the industry growth in the upcoming years.

Based on material, the exterior wall system market sphere is further divided into vinyl, fiber, cement, stucco, masonry and wood. The wood sub-segment is anticipated to garner strong returns over the forecast period owing to the rising demand for wooden exterior wall systems in colder areas.

From a regional frame of reference, North America (U.S., Canada), Europe (U.K., France, Germany, Italy, Spain), Asia Pacific (India, China, Japan, Indonesia, Australia, South Korea, Malaysia), Latin America (Mexico, Brazil), and Middle East & Africa (Saudi Arabia, South Africa, UAE) are the key geographies highlighted in the research document.

Middle East & Africa currently accounts for 5% of the overall exterior wall system market share and is expected to amass sizeable returns during 2021-2027 due to rapid infrastructural development across the region.

Speaking of the competitive landscape, major companies influencing the market tends are Boral Limited, Saint-Gobain S.A., Owens Corning, The Dow Chemical Company, Fletcher Building Ltd., United States Gypsum Corporation (USG), CSR Ltd., James Hardie Industries plc, Kronospan Ltd., Toray Industries, Inc., Nippon Sheet Glass Co., Ltd., and 3A Composites Holding AG.