Market for decorative outdoor materials
The market for decorative outdoor materials has a robust increase, which is driven by rising consumer preferences for aesthetic attraction, urban development and increasing available income. These materials play an important role in increasing the visual and functional attraction of the structure of outdoor residents, commercial and public infrastructures.
Market overview
The global market for decorative outdoor materials reached an estimated evaluation of $ 268.7 billion in 2022. After market projections, the industry is expected to grow from 2023 to 2033 with a CAGR of 5.3%. Until an impressive rise in construction and infrastructure, in which the construction element and the infrastructure in the components and in the construction of the infrastructure, in the construction element, in the construction and construction of the infrastructures, in the construction element and in the construction of the infrastructures, become in the construction and in -bautruCTRUTRE.
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East Asia continues to dominate the global market, which is heated by fast urbanization, large construction projects for residential buildings and extensive infrastructure development in countries such as China and South Korea. In the South Asia Pacific region, a lucrative market is developing, which is equipped with favorable foreign direct investments (foreign direct investments), booming construction activities and the increasing demand for stylish, comfortable outdoor living space outdoors.
🔹 Key highlights from the report:
• The market reached 268.7 billion US dollars in 2022, which is expected to achieve $ 475.6 billion by 2033.
• CAGR is expected at 5.3% in the forecast period (2023-2033).
• East Asia holds the largest regional share due to the strong question of construction.
• South Asia -Pacific is experiencing the fastest regional growth.
• Decorative materials now make up 18% of the global market for building materials.
• Top -three countries hold over 50% of the global market share.
Market segmentation
The market for decorative outdoor materials is mainly segmented according to product type. The most important categories include disguise systems, facades, terraces, outdoor colors & coatings, fences, paving stones and outdoor furniture. Under these, disguise and cover materials demonstrate the fee due to their double advantages of aesthetics and functional protection against weathering.
Segmentation by end users shows that housing is the largest proportion, followed by commercial space and public infrastructure projects. The growing preference for homeowners for garden renovations, terraces, balconies and outdoor furniture has significantly increased demand in the residential sector, especially in urban and suburban environments.
Regional knowledge
East Asia leads the global market, which is underpinned by consistent construction activities, state -supported housing programs and fast industrialization. China in particular shows a strong introduction of modern architectural trends and external aesthetics.
In contrast, South Asia-Pacific in India, Indonesia and Vietnam, increasing middle-class income, foreign investments and infrastructure projects that are bound by tourism and urban planning. This region is expected to record the highest CAGR in the forecast period.
Market driver
One of the strongest drivers on the market for decorative outdoor materials is urbanization, especially in emerging economies. While the cities expand and the populations concentrate on urban hubs, the demand for aesthetically appealing yet functional outdoor materials has grown exponentially. In addition, increasing available income and shift in consumer behavior in relation to life outdoors and the improvement of landscape design are important market stimulators.
Market disabilities
Despite the strong growth, the market is with several restrictions. High costs associated with premium decorative materials often prevent sensitive consumers. In addition, the disruptive disorders of the supply chain through global events such as the Covid 19-Pandemie-Have challenges in procurement and logistics were presented, which affects the timely project.
Market opportunities
There are essential options in technological advances and the use of sustainable materials. Innovations such as self -packaged coatings, weatherproof disguises and recyclable composite materials outdoors are becoming increasingly popular. There is also a strong potential for retrofitting and renovation projects in developed markets in which aging buildings with updated external aesthetics are modernized.
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Corporate knowledge
The most important actors who work on the global market for decorative outdoor materials include:
1. James Hardie Industries PLC
2. Boral Limited
3. Kingspan group
4. ETEX group
5. Nichiha Corporation
6. CRH PLC
7. Axalta coating systems
8. Dupont de Nemours, Inc.
9. Sherwin-Williams Company
10. Royal Building Products
Recent developments:
• James Hardie started a new series of fiber cement products in early 2024 that concentrated on environmentally friendly outdoor materials with improved durability.
• Axalta Coating Systems announced a partnership with a large assembly in Southeast Asia in order to deliver sustainable external coatings for large infrastructure projects.
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This publication was published on OpenPR.