DUBLIN--(BUSINESS WIRE )--The "Facade Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material (Glass and Metal, Concrete and Steel, Ceramic, Wood, UPVC, and Others), Application (Residential, Commercial, and Industrial), and Product Type (Windows, Doors, Curtain Walling, and Others)" report has been added to ResearchAndMarkets.com's offering.
The global facade market is expected to grow from US$ 195.42 million in 2021 to US$ 270.91 million by 2028; it is estimated to grow at a CAGR of 4.8% during 2021-2028.
There has been an ongoing shift in companies' approaches toward office designs and spaces. Part of the shift toward more pleasant, engaging workspaces is a desire to increase the amount of natural light. Many buildings are curved or have a complex architectural form to meet lighting requirements and have highly glazed facades and atria.
Notably, floor-to-ceiling glass on the building facade expands the vision area from the interior of the building, allowing maximum natural light, complemented by more open floor plans. With high-efficiency glass, exterior shading systems help filter direct sunlight penetration and solar heat gain, preserve natural light infiltration, and maintain architectural integrity.
Types of facade systems used in modern corporate buildings depend on the scale of the building and its location. For example, curtain walling systems are used in city center buildings as these systems assess in providing internal climatic control. The increasing demand for beautification of office spaces is adding to the need for facade, supporting the growth of the global facade market.
Impact of COVID-19 Pandemic on Facade Market
The onset of the COVID-19 pandemic in 2020 led to a grinding halt in infrastructure and construction activities worldwide. As per analysis reports, all regions suffered a significant downturn in workloads during the first half of 2020. However, the pandemic has led to a shift in people's preference to spend their time indoors, which creates a critical requirement of ventilation and cooling.
The COVID-19 pandemic has stimulated the need to create a healthy environment in residential, office and public spaces, which accelerates the demand for opening elements for curtain wall facades. Since the onset of the pandemic and the consequent restart of commercial activities, building occupants have a higher requirement of circulation of fresh air, access to outdoor spaces, and lower density for physical distancing.
Therefore, the global facade market is expected to regain momentum in the post-COVID-19 scenario due to its efficient functionality in ventilation, lighting, and cooling applications.
The impact of COVID-19 has significantly affected the APAC facade market in 2020. The imposition of a ban on commercial activities disrupted the industrial supply chains in APAC, leading to raw material shortages. The facade developers require various materials and components produced in China and other APAC countries, which were severely affected by the pandemic. There are restrictions on international trade as lockdowns are imposed on the borders of these countries. It had limited the construction activities, which hampered facade market growth in the region in 2020.
In 2021, the shipment of raw materials and construction projects have resumed because of the uplifting of lockdowns and the effective vaccination process.
Furthermore, large multinational technology companies are shifting their operations in various APAC countries. The construction of office spaces in these regions and different governments' focus on implementing policies to support green building construction created a resilient demand in the facade market in the post-pandemic scenario in APAC.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900