Luton, Bedfordshire, United Kingdom, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Cladding Systems Market.
From 2022 to 2029, the market for cladding systems is projected to expand at a CAGR of 5.6%. From USD 221.28 billion in 2020, it is anticipated to exceed USD 362 billion by 2029.
A non-load bearing layer called cladding is used to cover a building's exterior in order to shed water and protect it from the effects of the elements. Systems for cladding might be composed of vertical or horizontal boards, sheets, or smaller overlapping panels like tiles and shingles. The efficiency of these systems, which employ various techniques to stop rain and wind from entering via the joints, varies with the direction, speed, and intensity of the wind and the amount of exposure to rain. The market is seeing an increase in demand for cladding systems because they enable buildings to have an exterior shielding and insulating coating.
One of the key elements thought to be supporting the expansion of the global market's revenue is the growing number of construction plans around the world. Vinyl is typically used in a residential application due to its appealing appearance and finish, but cladding can also be done using other materials such as wood, metal, etc. These are a few elements that have been predicted to positively fuel the expansion of the global Cladding Systems Market over the expected time frame.
The current situation, with the development in the construction industry, has created a demand for attractive and energy-efficient buildings, which has opened up the market for cladding systems.
The demand for improved cladding options and innovations rises with the rise in demand for energy-efficient buildings, better insulation, and optimal use of natural resources. The market for cladding systems is anticipated to benefit from growth prospects due to all of these aspects.
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Scope of the Report
| Attributes | Details |
| Forecast Period | 2022 to 2029 |
| Growth Rate | 5.6% |
| Estimated Market Value | 221.28 billion in 2020 |
| Forecasted Market Value | 362 billion by 2029 |
| Analysis Duration | 7 Years |
| No. of Pages | 138 |
| No. of Figures & Tables | 28 and 198 |
| Company Analysis | More than 10 |
| Regions Covered | North America Europe Asia Pacific South America Middle East and Africa |
| Countries Covered | US, Canada, Mexico, Japan, South Korea, India, Australia, ASEAN and Rest of APAC, UK, Germany, France, Italy, Spain, Russia, and Rest of Europe, Brazil, Argentina and Rest of South America, Turkey, UAE, Saudi Arabia, South Africa, and the Rest of MEA |
Regional Scope
Due to its dominance in the market and 34% share of worldwide revenue in 2021, the Asia Pacific area benefited from rising per capita income, fast urbanisation, and population growth, as well as increased building activity in emerging economies like China, India, and Japan.
Due to increased residential demand and government measures to improve social infrastructure in the U.S. and Canada, the North American cladding market is anticipated to expand significantly over the projected period. Additionally, raising consumer knowledge of the advantages of weather protection for buildings will help the industry expand.
A rise in commercial construction activity is anticipated to increase demand for claddings in Europe over the course of the projected period. The demand for the product is also anticipated to increase throughout the projected period due to an increase in the use of cladding to improve a structure's visual appeal.
Due to factors such an increase in investments, an increase in oil output, and better weather, which are anticipated to stimulate the need for cladding, the Middle East and Africa's construction sector is predicted to have a rebound growth during the projection period.
Drivers
The growing infrastructure and construction sectors are predicted to be the main drivers of the market expansion for cladding systems. In order to protect the building's original structure, cladding systems are used in a variety of construction projects. These layers provide the building with increased aesthetics, weather protection, and thermal insulation. In order to produce cladding systems, strong materials including steel, copper, aluminium, polymers, and fibre cement are used.
The market for cladding systems is expected to grow quickly as a result of a significant growth in infrastructure and development activities worldwide. The market for cladding systems is expected to grow quickly as a result of a significant growth in infrastructure and development activities worldwide. For instance, according to the U.S. Census Bureau, the amount invested in residential building countrywide in 2016 and 2018 was roughly US$473,687 million and US$546,136 million, respectively. This increased spending has increased the need for cladding systems.
Opportunities
There are several prospects for growth in the cladding system market as a result of innovation. The introduction of a cutting-edge cladding system will guarantee the market's future. Additionally, the current trend of increasing demand will continue. The adoption of eco-friendly cladding panels will gain a lot of attention in the future years. Users will be interested in the cladding system panels made from recycled paper and agricultural waste.
The launch of these eco fetidly cladding system will open new growth possibilities in the forecast period. Additionally, the major market participants for cladding systems are working to offer long-lasting cladding systems. In the construction sector, cladding panel durability is crucial. Future growth prospects will be sparked by the introduction of these new products. These hybrid cladding panels are heat-, chemical-, and corrosion-resistant. The cladding system's many growth prospects will result in market growth.
Recent industry Developments
Glen-Grey Corporation's first ceramic pretence cladding system, erracade, was created in December 2020 with both innovative problem-solving uses in mind. The new cladding system can accommodate a variety of architectural design types because it is fire resistant, low-maintenance, and layout flexible.
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Top key Players
- DOW INC.
- COMPAGNIE DE SAINT-GOBAIN S.A.
- TATA STEEL LIMITED
- ARCONIC
- WESTLAKE CHEMICAL
- ETEX GROUP
- JAMES HARDIE INDUSTRIES PLC
- CSR LIMITED
- NICHIHA CORPORATION
- BORAL LIMITED
Who Must Purchase?
- Manufacturing & construction manufacturers
- Cladding systems suppliers
- Machines & equipment companies
- Investors
- Manufacturing companies
- End user companies
- Research institutes
- Machines & equipment
Global Cladding Systems Market Key Segments
By Material
- Ceramic
- Brick & Stone
- Metal
- Wood
- Vinyl
- Stucco & EIFS
- Fiber Cement
- Others (Concrete And Weatherboard)
By Use
- Walls
- Roofs
- Others (Vents And Gutters)
By Application
- Residential
- Non-Residential
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East And Africa
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