Market Size of Canada Facade Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Canada Facade Market Analysis
The size of Canada Facade market is USD 9.25 billion in the current year and is anticipated to register a CAGR of over 5% during the forecast period. The Canadian economy continued its post-pandemic recovery in 2022, with output increasing by 4.0-5.0% annualized basis.
- The services sector will be the primary engine of growth in the upcoming years, following a significant increase in the sector of produce-duction during the early stages of the epidemic.
- Retail sales and housing market activity should spur economic growth in 2022, supporting the sector's positive performance trends. There will be challenges for Canada's consistently strong industrial demand in 2023. Further, as more customers switch to traditional stores, e-commerce sales growth, which earlier in the pandemic was a major driver of user growth, is declining. In the meantime, it's anticipated that skyrocketing inflation and rising interest rates will constrain economic growth in 2022.
- The rise in construction-related activities has been an important factor in driving the market. Furthermore, technological innovations are leading to the development of energy-saving facade materials. These advanced products absorb solar energy and find widespread adoption in several commercial and residential buildings as a secondary source of electricity generation.
- The market is expected to grow at a considerable rate over the forecast period. This growth can be attributed to rising customer spending power along with the need to provide a secure work environment to employees. Furthermore, the use of metal composite materials offers a durable, harmonious, and modern appearance to the building. Increasing usage of such composite materials to build facades is projected to boost market growth over the coming years.
- The COVID-19 pandemic hurt the market for facade devices. All construction and infrastructure projects around the globe were put on hold when the COVID-19 pandemic started in 2020. The COVID-19 pandemic has accelerated the demand for curtain wall facade opening features, though, by highlighting the necessity of establishing a healthy environment in residential, public, and commercial areas. Building occupants now have a higher need for fresh air circulation, access to outdoor spaces, and a reduced density for physical separation due to the start of the pandemic and the subsequent restart of business activity, making facade systems more distinctive and environmentally friendly.
