The global cladding systems market was valued at US$ 233.61 Billion in 2019, according to Cladding Systems Market Report, by Material (Steel, Aluminum, Zinc, Copper, Plastic Panels, Stucco & EIFS, Terracotta, Fiber Cement, Natural Stones, and Others), by Application (Walls, Roofs, and Others), by End User (Residential Buildings, Non-residential Buildings (Industrial Buildings and Commercial Buildings)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global cladding systems market is expected to surpass US$ 311.18 Billion by 2027, exhibiting a CAGR of 5.0% during the forecast period (2020-2027). The growth of the cladding systems market is expected to be driven by the higher durability provided by cladding systems. The cladding systems are made up of bricks, metals, composite materials, cement, and aluminum, which provide enhanced strength to the building structure, coupled with enhanced features such as noise control, and temperature resistance. Cladding systems also offer greater resistance against impact and unbalanced loads occurring due to winds, rains, and storms. The application of cladding systems in the construction of building facade is based on structural properties of raw materials including weight, tensile strength, and flexural strength. For instance, the Corian external cladding material produced by DuPont has permissible tensile strength and flexural strength of around 6,000 psi and 10,000 psi, respectively.
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Browse 50 market data tables* and 45 figures* on "Cladding systems Market” - Global Forecast to 2027.
Key Trends and Analysis of the Cladding systems Market:
- Among regions, Europe accounted for a significant market share in 2019. This growth can be attributed to rising funding provided by European Governments for promoting the growth of the real estate sector across major cities such as London and Berlin. For instance, an additional fund of US$ 1.38 billion provided by the (MHCLG) Ministry of Housing, Communities, and Local Government in March 2020 to conduct research and testing on cladding structures residing in Europe, which is estimated to propel the market growth for cladding systems.
Key Takeaways of the Market:
- Among material, aluminum segment held largest revenue share of 25.3% in the global cladding systems market in 2019. Moreover, in November 2020, Boral Limited launched new hardwood Shiplap timber wall lining boards to its cladding products range. The timber lining boards can be layered with other materials such as black aluminum, glass, and concrete.
- Major players operating in the global cladding systems market include Arconic Corporation, Boral Limited, CSR Limited, Compagnie de Saint-Gobain S.A., Etex Group, DuPont, Hindalco Industries Limited, Nichiha Corporation, Tata Steel Limited, Glen-Gery Corporation, Kajaria Ceramics Limited, Glittek Granites, FunderMax, Greenlam Industries Ltd., and Cold Steel Corporation.
- Key players operating in the cladding systems market are focusing on various strategies such as new product launches, in order to strengthen their market presence. For instance, in 2017, DuPont launched its newest product offering, DuPont Corian exterior cladding in North America. The cladding enables monolithic design, unique patterns, and lighting effects. The new product helped the company to expand its product portfolio.
Global Cladding Systems Market - Impact of Coronavirus (Covid-19) Pandemic
- Cladding systems are widely used for the construction of buildings and architecture. COVID-19 has significantly disrupted the global construction and infrastructure development industry. However, efforts undertaken by statutory governing bodies for infrastructure development such as the announcement of Coronavirus-specific stimulus package and EMI holiday for builders and customers that are expected to augment the growth of the construction industry, which is further expected to fuel demand for cladding systems over the post-pandemic period. For instance, the fifth tranche of COVID-19 Stimulus package 2020 (valuing US$ 6.41 Billion) made provisions for infrastructure development over the post-pandemic period.