Pune, April 19, 2021 (GLOBE NEWSWIRE) -- Metal cladding Market Analysis
The global metal cladding market is anticipated to grow at a 5.4% CAGR over the forecast period (2020- 2027), reveals the current Market Research Future (MRFR) report. Metal cladding, simply put, is a form of protective coating where protective materials like foil or metal powder are bonded to the substrate through the application of pressure and/or heat. Owing to its alluring features and plentiful benefits, it has wide residential, commercial, and industrial applications.
Enhancing Features that Spur Market Growth
As per the MRFR report, there are numerous factors that are propelling the metal cladding market share. Some of these entail the increasing construction spending, development of efficient building technologies with automated installation and production processes, demand for restoration purposes, the product’s eco-friendly qualities, increasing use of lightweight materials in order to foster energy savings in offices and residences, and introduction of novel applications for new developed composite panels. Additional factors adding market growth include the booming construction industry, increasing infrastructure activities, non-residential and residential activities, high durability, and the ability to improve the aesthetic appearance of buildings.
On the contrary, high maintenance and installation costs and shortage of skilled labor may impede the global metal cladding market growth over the forecast period.
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COVID-19 Analysis
The COVID-19 outbreak has spread the world over and has impacted the metal cladding market growth considerably. Governments across the globe have imposed lockdowns that have impacted the industry players across the world and compelled people to stay indoors that in turn have reduced the physical interaction among people. Most companies have enabled employees work from home to ensure the continuity of business during the outbreak that is likely to have a negative impact on the global metal cladding market. The restrictions put on construction activities to comply with the physical distancing norms may impede the growth of the construction industry that may limit the global metal cladding market growth.
In the construction sector, operations have been interrupted owing to the pandemic across the world. Consumer’s shift in preference towards essentialities is likely to impact the global metal cladding market over the projected timeframe. Besides, the pandemic has resulted in the sealing of international boundaries that has caused a big decline in the demand for metal cladding systems and related products worldwide. Government authorities globally have enforced restrictions on travel. Thus the market is predicted to be impacted owing to the fall in the installation of cladding systems in the construction sector. Also, the restrictions on public gatherings coupled with travel bans in different countries are likely to hinder the growth of the global metal cladding systems market over the forecast period.
Market Segmentation
The MRFR report throws light on an inclusive analysis of the metal cladding market based on type and application.
By type, the global metal cladding market is segmented into bronze cladding, titanium cladding, brass cladding, zinc cladding, copper cladding, aluminium cladding, and galvanized cladding. Of these, the copper cladding segment will lead the market over the forecast period. The widespread use of copper as cladding metal owing to its benefits like durability and malleability are adding to the growth of this segment.
By application, the global metal cladding market is segmented into residential, industrial, and commercial. Among these, the commercial segment will head the market in the forecast period. The commercial segment comprises hospitality, educational centers, healthcare, office spaces, shopping malls and centers, among others. The commercial building construction industry can generate significant revenue in the years ahead to maintain the trend over the forecast period.
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Regional Analysis
APAC to Sway Metal Cladding Market
Geographically, the global metal cladding market is bifurcated into Europe, the Asia Pacific (APAC), North America, the Middle East & Africa (MEA), & South America. Of these, the APAC region will sway the market over the forecast period. The rise in construction activities, need for work and residential space, rise in FDI investments in the construction sector, ample investment opportunities for suppliers, regional governments ramping up efforts in encouraging private participation in infrastructure development plans, and a healthy spread of construction products that support the stability of the Asian markets with government intervention boosting the majority of projects for infrastructure development is adding to the global metal cladding market growth in the region. Besides, rebound in non-residential and residential sectors, strong demand from India and China, increasing availability of raw materials and manpower and sophisticated innovations and technologies in the region are also adding market growth.
Europe to Hold Second-Largest Share in Metal Cladding Market
In Europe, the metal cladding market is predicted to hold the second-largest share over the forecast period. A growing need in the auto sector, and the booming aviation industry are adding to the global metal cladding market growth over the forecast period.
North America to Have Favorable Growth in Metal Cladding Market
In North America, the global metal cladding market is predicted to have favorable growth over the forecast period. The presence of key metal cladding manufacturers, high demand for cladding, integration of building information modeling (BIM), the growing popularity of pre-fabricated buildings, declining unemployment rates, and other trends are adding to the global metal cladding market growth in the region.
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The MEA to Have Sound Growth in Metal Cladding Market
In the MEA, the metal cladding market is predicted to have sound growth over the forecast period. The construction industry benefitting from growing government participation and increasing investments in various sectors such as infrastructure, healthcare, and education to diversify the economy of the country and shift away from traditional oil activities for supporting economic growth are adding to the global metal cladding market growth in the region.
In South America, the metal cladding market is predicted to have steady growth over the forecast period.
Key Players
The prominent players profiled in the global metal cladding market report include POHL Fassaden (Christian Pohl GmbH) (Germany), Kalzip Ltd (UK), James & Taylor, Huntsman Corporation (US), BlueScope Steel (Australia), Bemo Systems (Germany), BASF (Germany), ATAS International (US), Ancon Limited (UK), Anclajes Grapamar S.L (Spain), ArcelorMittal Construction (Luxembourg), A. Zahner (US), and ASTEC Industries Inc. (US), among others. Mergers and acquisitions, partnerships, joint ventures, collaborations, new product launches, and others are the key strategies adopted by key players to stay ahead.
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