Market Overview

The exterior wall materials market for FY2023 is estimated at 362,900 million yen, representing 101.2% of the size of the previous fiscal year (total of following 7 fields: ceramic sidings, extrusion-molded cement boards, ALC exterior wall materials, tiles, metal sidings, mortar wall materials [pre-mixed mortar], and exterior wall finishing materials). Despite challenges such as a decline in new housing starts, a sharp rise in construction material prices, and a worker shortage that caused delays and changes to construction schedules, the market was able to achieve marginal growth through price revisions and the development of value-added products.

Noteworthy Topics

Development and Market Launch of Environmentally Sustainable Products

Each manufacturer of exterior wall materials is pursuing initiatives aimed at achieving carbon neutrality and is developing technologies that facilitate the production of environmentally sustainable products. In fact, some have already introduced products that actively contribute to the reduction of CO2 emissions.
Within the domains of ceramic sidings and extrusion-molded cement boards, manufacturers are progressing towards the commercialization of 'CO2 fixation materials,' which can considerably diminish CO2 emissions during their production. This is accomplished through specialized equipment that captures CO2 during the steaming and drying phases, transforming it into a carbonic acid compound that can be utilized as a raw material for their products.
In the sector of metal sidings, certain manufacturers have attained carbon neutrality in their production processes by transitioning to renewable energy sources for electricity and compensating for carbon emissions through the utilization of J-credits.

Future Outlook

The market size for exterior wall materials (across seven categories) in FY2024 is forecasted to reach 363,600 million yen, 100.2% of the previous fiscal year. representing 100.2% of the previous fiscal year. Although the market is expected to experience a decline in volume (e.g., in terms of application square meters or weight) due to a reduction in new housing construction starts, the market size is projected to grow slightly in value. This growth will be driven by price revisions reflecting rising fuel costs and the development of high value-added products.

Research Outline