New York, USA, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Fiber Cement Rainscreen Panels Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Fiber Cement Rainscreen Panels Market Information by Type, Application, and Region - Forecast till 2028”, the market is estimated to grow at a 12.8% CAGR to reach USD 35,250 Million by 2028.
Market Scope
In addition to meeting aesthetic criteria, fiber cement rainscreen panels provide efficient solutions for temperature management and insulation. In addition to offering a number of advantages to structures, including protection from the elements, acoustic insulation, and fire safety, these panels also guarantee rapid and simple installation and increased durability.
Due to their energy efficiency and ability to speed up construction projects, fiber cement rainscreen panels are significantly preferable to conventional roof panels and concrete panels. The building industry's increased emphasis on energy efficiency and financial viability is expected to result in a significant growth rate for the market for fiber cement rainscreen panels over the course of the forecast period.
Through their FDI policies, the governments of developing nations in the Asia-Pacific region additionally encourage investment in the construction sector, which furthers the market expansion for fiber cement rainscreen panels. All big manufacturers are attempting to increase their presence in Asia-Pacific, where there are many distributors, suppliers, and wholesalers because they anticipate making enormous profits over their return on investment. Additionally, the numerous energy efficiency rules are opening up prospects for competitors in the Asia-Pacific market for fiber cement rainscreen panels.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2028 | USD 35,250 Million |
| CAGR | 12.8% (2021–2028) |
| Base Year | 2020 |
| Forecast Period | 2021–2028 |
| Historical Data | 2019 |
| Forecast Units | Value (Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The focus on energy efficiency and economic feasibility in the construction industry has increased. |
| The increasing adoption rate of fiber cement rainscreen panels in the past few years can be attributed to their cost-effectiveness. |
Market Competitive Landscape:
The important vendors in the fiber rainscreen panels industry are
- Saint-Gobain SA (France)
- Evonik Industries AG (Germany)
- James Hardie Industries plc (Ireland)
- Guangdong Soben Green
- Cembrit (Ireland)
- Evonik Industries AG (Germany)
- Sanle Group
- American Fiber Cement Corp (US)
- Cladding Corp (US)
- Etex Group NV (Belgium)
Market USP Covered:
Market Drivers:
The fiber cement rain-screen panels market could benefit from the surging knowledge about the product’s advantages, including high durability, low maintenance costs and cost-effectiveness. Fiber cement is developed using cellulose fiber, cement, water and pulverized limestone. These types of panels are progressively being accepted and used in the rain-screen cladding space since they are not only weatherproof but showcase resistance to rainwater and high-pressure winds. Other than this, fiber cement is known for its fireproof properties, which makes it the perfect raw material for use in the manufacturing of rain-screen cladding panels.
Escalating demand for energy-efficient buildings, due to the strict government policies and the surging awareness about environmental deterioration, can enhance the fiber cement rain-screen panels market share in subsequent years. Fiber cement rain-screen panel systems are also gaining traction on the basis of several other benefits including improved external appearance, acoustic performance of buildings, and superior thermal insulation.
Rise in construction expenditure in emerging countries in the Middle East and Asia Pacific due to the booming population and the economic and industrial growth will present attractive opportunities to the worldwide players. Governments in these countries are making substantial investments in public infrastructures including offices, housing societies and hospitals. In short, the dramatic growth of the residential construction industry in India, UAE and China, given the improving living standards, rise in consumers’ spending capacity, and evolving lifestyles will raise the demand for fiber cement rainscreen panels.
Over the projected period, rising government laws for green buildings, the necessity for repair of old buildings, the demand for over-cladding activities, and rising awareness of energy-efficient constructions are anticipated to drive demand. The demand from end-users is met by the availability of a wide range of colours and textures in the fibre cement panels used in residential rain-screen cladding. Manufacturers of fibre cement rain-screen panels are increasingly making panels on demand to meet specific building construction needs. Over the anticipated term, these variables are anticipated to fuel product demand from residential applications.
Market Restraints:
A key issue in the design of fiber cement rainscreen panel solutions is their inability to tolerate air pressure gradients. If a cladding wall's exterior is not airtight, its surface would be exposed to powerful wind forces. The main limitations of a typical end-use industry for rainscreen panels are airflow and moisture, which are restricted to wall hollow chambers and generated between these furring strips. The compartments are sealed apart from one another by air. This is limiting the demand as well as the expansion rate of the worldwide market.
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COVID 19 Analysis
COVID-19's influence on the construction industry changed drastically as the disease's global case count rose rapidly worldwide. Based on observed occurrences in China and Europe, the U.S. construction industry faced comparable challenges, including disruptions to the material supply chain, labor shortages, and the closure of construction sites.
Reduced material availability is expected to lead to aggressive buying habits and the potential to increase the national pricing of high-demand items globally. The inability to get supplies inevitably affected the overall rate of progress on many construction projects, which resulted in a decrease in demand for fiber cement rainscreen panels in addition to potential price hikes.
Market Segmentation
By Type
Different types of fiber cement rainscreen panels in the market are thick panels, ultra-thin panels, conventional panels, and super thick panels. The ultra-thin panels segment, with the highest share of around 40% in the fiber cement rainscreen panels market is in the lead. The segment will continue to see noteworthy growth in the years to come, since these are cost-effective and offer impressive thermal insulation, ensure air-tightness, low maintenance costs and long lifespan.
By Application
Applications of ultra-thin panels include rainscreen wall systems and rainscreen cladding systems for both commercial and residential buildings. The residential segment secured the lead in 2018.
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Regional Insights
Europe, with the highest share of 35% in the worldwide market, is currently in the lead. Europe is on track to achieve a higher prominence in the coming years, thanks to the rising investments from private and public sectors with respect to infrastructural construction projects. The escalating demand for fiber cement rainscreen panels can also be accredited to the surge in governmental policies aimed at reducing greenhouse emissions. The urgent need to elevate the cost efficiency of buildings, along with the surging focus on energy efficiency favors the regional market as well.
In the coming years, the building and infrastructure sectors in Asia Pacific are expected to grow at the fastest rate. In addition, the market value is increased by the quick industrialization and urbanization rates. Aside from that, the market for fiber cement rainscreen panels is significantly impacted by the government’s increasing spending on the construction sector through the FDI policies.
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