Green Facade Market Expected to Reach $1485 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Green Facade Market," The Green Facade Market size was valued at $662.2 million in 2020, and is estimated to reach $1485 million by 2032, growing at a CAGR of 7.2% from 2023 to 2032.. 

Green facades involves the cultivation of plants on the vertical surface of building or structure. These vertical gardens can be put on outside walls, interior walls, or self-supporting buildings to generate an attractive, organic covering. Green facades typically consist of framework or support system that hold the soil or growing medium, allowing various types of plant to grow.  

The rise in adoption of green facades are driven by an increase in public awareness of environmental problems and the necessity for sustainable practices. In addition, metropolitan areas' rapid growth has resulted in smaller green spaces and higher construction densities. For instance, the real estate industry is expected to grow from its 2019 level of $1.72 billion to $9.30 billion by 2040, according to IBEF (India Brands Equity Foundation). The real estate sector in India is expected to increase in size from $200 billion in 2021 to $1 trillion in 2030 and represent 13% of GDP by 2025. Retail, hospitality, and commercial real estate are all experiencing significant expansion as well.

These sectors are crucial to India's rising demand for infrastructure. In addition, employing green facades allows for the incorporation of vegetation into urban environments without taking up valuable ground space. It also helps reduce the carbon impact of buildings by increasing energy efficiency, lowering heat absorption, and promoting urban biodiversity. Therefore, these advantages of green facades are expected to drive the green facade market growth during the forecast period. 

However, selection of right plant species for green facade is critical and it can be challenging. Plant selection depends on factors such as climate, available sunlight, and the local environment. Inappropriate plant choice can lead to poor performance or maintenance issues, which can hinder the green facade market share during the green facade market forecast period.

Furthermore, a robust housing market, which includes increasing growth in home building, sales, and home equity, continues to help the renovation industry. As the economy improves, homeowners are expected to seek more and larger discretionary home renovations in 2020. In addition, green facades are increasingly being used in remodeling and retrofitting to improve the aesthetic sustainability and functionality of existing buildings. Also, in January 2021, according to an article published in Harvard Joint Centre for Housing Studies, based on the most recent Leading Indicator of Remodeling Activity (LIRA), growth of house remodeling and repair expenditures was expected to increase from 3.5% at the end of 2020 to 3.8% by the end of 2021. 

Similarly, in February 2021, officials at the National Association of Home Builders' IBSx virtual event forecast that remodeling expenditure on owner-occupied single-family homes will rise 4% in 2021, then rise another 2% in 2022. Hence, remodeling and renovation globally are factors that expected to provide lucrative growth in green facade market during the forecast period. 

Rise in concerns towards environmental sustainability and adoption of eco-friendly building materials propel the growth of the green walls market. in addition, green facades are used to enhance the visual appeal of shopping malls and retail spaces. They create inviting and attractive entrances, improve the overall shopping experience, and even increase footfall. . Also, governments are taking initiatives and investing in quality construction of schools and health sectors. For instance, in May 2019, The Government of India announced an ambitious investment agenda plan of $1.5 trillion in commercial construction sectors for six-year period ending in 2025. This investment focuses on construction for schools and higher education, health, sports, and basic infrastructure. Hence, such investments are expected to create opportunities for green facade market manufacturers and therefore provide lucrative growth opportunities in the green facade industry duirng the forecast period. 

Key Findings of the Study     

• The report provides an extensive range of green facade market analysis of the current and emerging green facade market trends and dynamics.      

• By vegetation type, the shrubs segment was the largest revenue generator in 2022.    

• By type, the wall structure-based segment generated the highest revenue in 2022.     

• By application, the commercial segment dominated the green facade market in 2022.        

• Region-wise, Asia Pacific region generated the highest revenue in 2022.