The global façade systems market is expected to reach USD 459.87 billion by 2026, says a new report by Reports and Data. The increasing construction activities across the globe, coupled with the rising population and changing lifestyles are accelerating the growth of the facade market. Rapid urbanization will also drive the demand for façade systems during the forecast period.
In 2018, the Asia Pacific market had the largest market share, and the region is expected to retain its dominance during the forecast period. North America accounted for the second-largest Facade market share, followed by Europe. North America and Europe are having a significant rise in construction activities.
Investment is an essential driver of economic growth in Europe. Despite higher inflation, the rising consumer spending, supported by employment growth, fuels the infrastructure investments in the European countries. U.K., Spain, and Sweden continue to be the major countries in the European region, while the economic growth in France and Italy has accelerated over the years.
Among the applications, cladding accounts for the largest market share in 2018 and is fore-casted to grow further with a CAGR of 4.9% during the forecast period. The exterior insulation and finish system are anticipated to witness the highest growth rate of 8.1% during the forecast period.