Market Trends of Europe Facade Industry
This section covers the major market trends shaping the Europe Facade Market according to our research experts:
The Growing Commercial Sector is Driving the Facades Installation
European countries are focusing on building commercial buildings and office spaces that are energy efficient. In the upcoming years, it is anticipated that increased spending on the renovation of aging office buildings would increase demand for fa莽ade installations. A growing need for aesthetic appearance in commercial buildings has emerged in recent years, which has fuelled the expansion of the fa莽ade market in the region.
Moreover, the growing commercial construction creates a huge opportunity for fa莽ade manufacturers in the region. For instance, in 2021, the European region witnessed many commercial projects, such as the construction of a mixed-use complex comprising six towers ranging from eight to 40 stories in London, the Quartier Grand Central Mixed-Use Development project in Flingern, Althan Quartier Mixed-Use Complex spread across 2.4 hectares area with a total gross floor area of 130,000 square meters in Austria, City Office Building construction in Norway which involves in the construction of 11-story office building across 103,000 square meters area.
Moreover, as per industry experts, more than 5.7 million sqm of new office space were completed at the end of 2022, and a further 5.1 million sqm of development is planned in 2023. These new projects require many fa莽ade installations, thus boosting the fa莽ade manufacturing sector. Moreover, in 2021, office space take-up witnessed a growth rate of 20% when compared to the previous year.
Germany Witnessing Lucrative Growth in Fa莽ade Market
Germany is experiencing a significant number of construction projects, and the country is widely focusing on external wall beautification and energy efficiency factors, these factors are driving the installation of the facades in the country. In addition, the country's capital Berlin initiated municipal construction programs, which include planned residential areas, diverse new cultural projects, and demolishing aged structures. Also, Berlin's contemporary architecture is unveiling new ideas on building concepts, forms, and facades. However, Cube Berlin smart office building, Axel Springer campus, Labels Berlin, Jewish Museum, etc. are some of the major fa莽ade projects in the country.
Moreover, in 2021, Germany witnessed fa莽ade greening on high-rise buildings. This initiation was driven by growing concern about reducing heat emissions, extreme inner-city temperatures, and a lack of green spaces. In order to reduce increasing temperatures various urban planning measures are currently being developed and applied. One of these developments is the greening of building roofs and, more recently, building facades. In addition, fa莽ade greening is particularly suitable for high-rise buildings, as they have a lot of vertical space. The rising temperatures across the country will boost the fa莽ade greening technology.
Meanwhile, in 2022, the country witnessed a significant number of commercial projects across Berlin, Duesseldorf, Hesse, etc. As a capital city, Berlin became a hotspot for various commercial projects. In Q1 2022, the DIE AG Ostendstra脽e project was started, and more than USD 1,200 million were invested in this project, which is expected to be completed by 2027. In addition, Maxfrei-Quartier Mixed-Use Development, Messeeingang Sparda Bank Tower Mixed-Use Complex, Elements Mixed-Use Development, etc. are some of the major office projects across the country. Moreover, in H1 2022, Berlin's office take-up amounted to 364,000 square meters. Thus, the growing commercial and residential sectors in Germany are expected to drive the fa莽ade market.
