Key players in the cladding systems market are Tata Steel Limited (India), Compagnie de Saint-Gobain S.A. (France), James Hardie Industries PLC (Ireland), DowDuPont (US), Arconic (US), Louisiana Pacific Corporation (US), Westlake Chemicals (US), Boral Limited (Australia), Etex Group (Belgium), Kingspan PLC (UK), CSR Limited (Australia), Cembrit Holding A/S (Denmark), and Nichiha Corporation (Japan).
Northbrook, IL 60062 -- (SBWIRE) -- 01/17/2023 -- According to a research report "Cladding Systems Market by Material (Ceramic, Wood, Brick & Stone, Vinyl, Stucco & EIFS, Metal, Fiber Cement), Use, Application (Residential, Non-Residential), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2026" published by MarketsandMarkets. The global cladding systems market size is estimated to be USD 234.1 billion in 2021 and projected to reach USD 306.9 billion by 2026, at a CAGR of 5.6% during the forecast period. The global cladding systems market has witnessed high growth primarily because of the increasing infrastructure and construction activities, worldwide. Not only do these systems protect the building, but they also enhance their appearance. The rebound in commercial construction is expected to increase the demand for external cladding systems. However, factors such as the high installation and raw material cost and the high repairing time and cost may inhibit the growth of this market.
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Stucco & EIFS segments hold larger share by value for cladding systems market in 2020.
Stucco is a mixture of cement and other materials such as sand, water, and lime which can be directly applied to a wall. It is one of the oldest cladding materials and is resistant to rot and other damages if installed correctly. It is majorly utilized in residential and commercial buildings and is also known as Portland cement plaster. It offers various benefits such as fire resistance and attractive appearance. Stucco cladding requires low maintenance and installation cost. Exterior insulation and finish systems (EIFS) are installed over stucco claddings and provide varying degrees of continuous insulation. Stucco has an ability to allow air and moisture to pass through it, making it a highly breathable cladding material. It lasts for between 50 to 75 years and is one of the most expensive materials.
Wall cladding segment accounts for the largest share of the cladding systems market in 2020.
Wall claddings protects exterior wall against weathering and enhances aesthetic of walls. Wood & fiber wall cladding are comparatively lower in price than Brick, stucco, and EIFS wall cladding. Demand for wood & fiber wall claddings is growing in residential market due to its lower price. In non-residential building such as manufacturing plants, warehouses, metal and concrete type wall claddings systems are utilized. Steel claddings find their application in freezing and cool store units. Concrete claddings are used as slabs in industrial applications.
By volume, Non- Residential application accounts for larger cladding systems market share in 2020.
Non-residential buildings are structures that are not used for dwelling purposes. These are also segmented based on the construction activities including new construction and remodeling. The demand for cladding systems in new construction is more than the demand in the remodeling construction activities. Vinyl and metal cladding are the most preferred cladding systems for non-residential buildings due to their high thermal efficiency and fire protection. The importance of eco-friendly cladding systems will drive the builders to use materials, which have a minimal environmental impact in all the processes, which include extraction, conversion, maintenance, and disposal. Metal and vinyl cladding systems are the most preferred cladding systems for commercial buildings. Although vinyl sidings are not eco-friendly, manufacturers are committed toward the recycling of such sidings in the form of landfills.
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Asia Pacific accounts for larger share of cladding systems market by volume and value, in 2020.
Asia pacific account for larger share of cladding system market, followed by North America and Europe. Factors driving Asia-pacific economy includes, skilled labor, availability of low-cost raw materials, advance technology, and others. China & India are rapidly growing economies in the region. With the growing population and economy, the number of construction activities has also increased. In fact, the construction industry in China is one of the largest contributors to the global economy, in terms of both, value and volume. The growth in residential construction and increase on spending on commercial projects drives the cladding systems market in the region during the forecast period.
A few of the key players in the cladding systems market are Tata Steel Limited (India), Compagnie de Saint-Gobain S.A. (France), James Hardie Industries PLC (Ireland), DowDuPont (US), Arconic (US), Louisiana Pacific Corporation (US), Westlake Chemicals (US), Boral Limited (Australia), Etex Group (Belgium), Kingspan PLC (UK), CSR Limited (Australia), Cembrit Holding A/S (Denmark), and Nichiha Corporation (Japan).