According to a new report published by Allied Market Research, titled, “Exterior Wall Systems Market by Material, Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global exterior wall systems market size was $125.8 billion in 2020 and is expected to reach $221.9 billion by 2030, registering a CAGR of 5.6% from 2021 to 2030. In 2020, Asia-Pacific region dominated the global exterior wall systems market accounting for 47.0% share of the market.

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The report analyzes the global exterior wall systems market on the basis of material, application, type, and region. The materials covered in this report are glass and fiberglass, fiber, cement, metal and others. The applications taken into consideration in the report are residential, commercial, and industrial. By type, the market is classified into ventilated, non-ventilated, and curtain wall. The market is driven by development in residential, commercial, and industrial sectors and economic growth globally. However, fluctuation in raw material prices is anticipated to hamper the growth of the exterior wall systems market.

In 2020, based on material, the glass and fiberglass material segment dominated the global exterior wall systems market, accounting for the largest share of the global exterior wall systems industry, followed by others segment. Moreover, the market in Asia-Pacific is growing with high CAGR, owing to urbanization and economic development in the developing countries such as Japan, China, the U.S, and others.

A growth in residential and commercial industry drives the demand for exterior wall systems products; thereby, fueling the expansion of the exterior wall systems market. In addition, rise in construction spending in countries such as India, Germany, Japan, the U.S., and others boosts the growth of the market. For instance, expenditure on private construction activities by the U.S. government increased by over 50% and that on public construction grew by over 20% from 2012 to 2020. 

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COVID-19 has already affected the sales of global exterior wall systems market in 2020, and is expected to hamper the growth of the global exterior wall systems market. The major demand for exterior wall systems was badly affected due to the spread of COVID-19 virus. Further, the disruption of supply chains hinders the installation of exterior wall systems products in the commercial and residential buildings. Though a recovery is predicted as a result of the impact of the development sector on the economy.

However, one of the major restraints for the global exterior wall systems market is the environmental pollution from glass, aluminum, fiberglass, fiber cement, plasterboards and therefore it can be harmful to the environment. Conversely, increase in construction of green building is predicted to offer lucrative opportunities for the global exterior wall systems market development.