Cladding Systems Market
Cladding systems are referred to a layer, which is attached to the exterior of a building to protect it from the adverse effects of weather. Demand for cladding systems is increasing with the growth of the infrastructure industry and increasing construction activities across the globe. Cladding systems provide thermal insulation, help create controlled environmental condition, protect buildings from external environment, and help in preventing the spread of fire.
Market Dynamics
High-performance characteristics of the cladding system coupled with rising construction activities around the world are expected to boost the market growth over the forecast period. For instance, according to the data from the Chartered Institute of Building (CIOB), the global construction industry was valued at US$ 10.8 trillion in 2020 and is expected to reach US$ 17.5 trillion by 2030 with a growth rate of 3.9%, annually. Thus, rising investments across the construction sector coupled with the need for protection of building frames from external forces such as extreme weather conditions are expected to augment the demand for cladding systems across the globe. However, the market growth is expected to be restrained by factors such as fluctuations in the prices of raw materials and lack of knowledge among rural population about the cost, reliability, and benefits of cladding systems.
Key players are focusing on various strategies such as new product launches, in order to expand their product portfolio. For instance, in October 2020, DuPont Protection Solutions, a cladding product manufacturer, launched Corian Exterior Cladding product. This product enables lighting effects and unique patterns to the buildings and provides enhanced beauty, longevity, and durability.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
Detailed Segmentation:
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