GCC Facades Market To Reach USD 32.1 Billion By 2032, Report By Datahorizzon Research


(MENAFN- GlobeNewsWire - Nasdaq) The GCC Facades Market is Anticipated Staggering Growth in the Coming Years.

Fort Collins, Colorado, April 04, 2024 (GLOBE NEWSWIRE) -- The GCC Facades Market size was valued at USD 16.9 Billion in 2023 and is expected to have a market size of USD 32.1 Billion by 2032 with a CAGR of 7.4%.

Expanding construction activities and real estate is an economic indicator for the GCC region. With a growing population and a significant focus on infrastructure development, the GCC regions are witnessing increased construction, refurbishment, and renovation projects. Throughout the forecast period, it is anticipated that there will be a surge in such projects across the GCC, contributing to boosted tourism and the hosting of various events like the International Conference on Human Rights and Right to Education (ICHRRE), the World Conference on E-Education, E-Business, and E-Commerce (WC-EEE), and Automechanika Expo 2024.

The GCC facades market experienced significant growth in 2023, largely propelled by the increasing demand within the commercial sector. Facades play a pivotal role in commercial buildings, enhancing their aesthetic appeal and providing crucial protection against adverse weather conditions such as rain, snow, heat, and fire, thereby extending the lifespan of the structures. Corporate headquarters for prominent entities like banks necessitate buildings that meet stringent environmental and architectural standards. Given the substantial budgets allocated for commercial projects, architects and contractors are often driven to focus on aesthetic elements to meet client expectations. This underscores the importance of the commercial sector in driving the growth of the GCC facades market.

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Segmentation Overview:

The GCC facades market has been meticulously segmented into product, material, end-use, and region, providing a comprehensive understanding of its dynamics. In terms of end-use, the market is divided into commercial and residential sectors. Notably, the commercial segment held the largest market share in 2023 and is expected to continue its high growth and penetration in the forecast period, driven by increasing government and private investment in building and infrastructure projects in the region.

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GCC Facades Market Report Highlights:

  • The GCC facades market growth is anticipated at a CAGR of 7.4% by 2032.
  • The GCC facades market has evolved significantly over the last few years, and legislation implemented by several governments has changed it.
  • The availability of new materials such as glass fiber-reinforced concrete or fiberglass-reinforced plastic, castings of different sizes, and metal meshes has led to a shift towards more advanced façade designs.
  • Some prominent players in the GCC facades market report include Sika Group, Al Abbar Group, Fibrex Construction Group, Fapinex LLC, Seele Middle East FZE, Koltay Facades, Meinhardt group, Bouygues SA, Ramboll Group A/S and Aygun Aluminyum A.S.

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GCC Facades Market Segmentation:

By Product: Ventilated, non-ventilated, others.

By Material: Glass, metal, plastic & fibers, stones, others.

By End-use: Commercial, residential.

By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.

About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR's comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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