NEWARK, Del, July 28, 2022 (GLOBE NEWSWIRE) -- The global rainscreen cladding market is expected to reach a market valuation of US$ 135.89 Billion by the year 2022, accelerating with a moderate CAGR of 7% by 2022-2032. Rainscreen cladding market size is anticipated to be valued at about US$ 267.32 Billion by 2032 end.
The demand for rainscreen cladding structures is projected to be fueled by the increased need for the aesthetic appeal of new and refurbished buildings as well as protection against fire, precipitation, and air. The rainscreen cladding market is projected to increase because to the growing need for improved moisture management and energy-efficient building solutions.
Additionally, rainscreen cladding aids in reducing thermal movement through the wall and hot and cold air flow, preventing overheating in the summer and assisting in the maintenance of a warm and constant interior temperature in the winter. This is driving the demand for rainscreen cladding.
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The rainscreen cladding market is anticipated to be driven by rising consumer demand for products with better moisture control capabilities and energy efficiency. In addition, both established and developing countries are seeing an increase in the development of non-residential structures like offices and institutions as well as a change in the trend toward safeguarding outside walls. The COVID-19 crisis-induced economic downturn has resulted in poor investor confidence and a fall in industrial operations, which has hindered the rainscreen cladding industry's ability to grow.
The demand for rainscreen cladding is increasing as a result of changing consumer trends toward the protection of outside walls in residential, commercial, and non-residential structures, including workplaces and institutions.
The inability of rainscreen cladding solutions to handle air pressure gradients is a significant flaw in their design. The surface of a cladding wall would be exposed to strong wind forces if the exterior of the wall is not airtight. Airflow and moisture are confined to wall cavity chambers, which is generated between these furring strips, and are the principal drawbacks of a normal end-use industry for rainscreen cladding. The air does not cross between the compartments. This is restraining the rainscreen cladding market growth.
Key Takeaways from Market Study
- In 2021, the terracotta raw material market held the largest rainscreen cladding market share, accounting for more than 35.5 percent of worldwide revenue.
- In 2021, the rainscreen cladding market was headed by the official construction industry, which brought in 33 percent of the total income.
- In 2021, the market was headed by the Europe region, which generated more than 30.5 percent of worldwide revenue.
- Due to an increase in the construction of new power plants, social infrastructure, commercial projects, and shale gas exploration activities, the demand for rainscreen cladding in North America is anticipated to increase significantly during the forecast period.
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Competitive Landscape
The rainscreen cladding market is quite competitive because there are so many regional and international companies. The obstacles for the market's incumbent players are changes in the pricing of raw materials and the strategy of new competitors. The keys to surviving in a competitive climate are ongoing R&D and cutting-edge process practises.
In order to maintain competitiveness and bring down the price of rainscreen cladding overall, major competitors in the rainscreen cladding market are concentrating on mergers, acquisitions, and joint ventures. Players provide structural planning and installation services to meet consumer demand for cutting-edge rainscreen cladding solutions for structures.
Recent Developments in Rainscreen Cladding Market
- In response to demand from architects and specifiers looking for distinctive façade systems, Proteus Facades, a renowned supplier of high-quality rainscreen cladding systems, announced its debut into the U.S. rainscreen cladding market in April 2021. This next expansion for the business, which has a history of providing rainscreen cladding for some of the most well-known construction projects in the UK, was motivated by significant investment in its production capabilities and demand for unusual façade designs.
- For up to US$ 87.77 million in December 2021, Brickability Group acquired Taylor Maxwell Group, one of the UK's top suppliers of wood and façade solutions to the building industry. By bringing timber and cladding to the Group through the acquisition of Taylor Maxwell, Brickability will be able to provide a wider choice of products, and its competitive advantage in certain markets will allow for possible organic growth in the future.
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Rainscreen Cladding Market by Segmentation
By Raw Material:
- Fiber Cement
- Composite Material
- Metal
- High-pressure Laminates
- Terracotta
- Ceramic
- Others
By Application:
- Residential
- Commercial
- Official
- Institutional
- Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
4. Global Rainscreen Cladding Market Analysis 2017-2021 and Forecast, 2022-2032
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