Facades market to reach-min
According to a new report by Grand View Research Inc the global facades market is expected to reach $337.8 billion by 2025. Asia Pacific dominated the market with more than 30 percent revenue share in 2016, wowing to growing construction of new commercial and industrial buildings in India, China, and South-East Asia over the next few years. The facades market was valued at $179.7 billion in 2016 and is expected to grow at a CAGR of more than 7.3 percent over the next eight years owing to a rise in construction related activities in the U.S., China, Japan and India.
The development of advanced materials with capabilities that offer safety, as well as a visually appealing texture is likely to push up the growth in facades market in the coming years. Also increasing need to lower heating and air-conditioning cost and achieve energy-efficiency is expected to drive up the product demand significantly over the next few years. The trend in reducing the cost is projected to result in the development of sustainable products over the forecast period.
The popularity of green buildings demands high-transparency glass that allows in light, while maintaining heat-resistance. The forecast period is expected to witness the application for high-performance, energy-saving and solar control facades contributing toward higher economic benefits and eco-sustainability. This has resulted in demand for triple-glazed facades, which have a lower u-value in comparison to double glazed structures.