Global Cladding Systems Market is estimated to be valued at US$ 275.00 Bn in 2021, according to the Global 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 and 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.
Global cladding systems market was valued at US$ 275.00 Bn in 2021. The cladding systems market is expected to register a CAGR of 4.80 % over the forecast period (2022–2030), to reach US$ 419.00 Bn by 2030.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/cladding-systems-market-695
Key Trends and Analysis of the Global Cladding Systems Market:
Among regions, Europe accounted for a significant market share in 2021. 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 was 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 cladding systems market growth.
Key Takeaways of the Global Cladding Systems Market:
Among material, the aluminum segment held the largest revenue share of 25.3% in the global cladding systems market in 2021. 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.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for cladding systems are key strategies adopted by players in the global cladding systems market. For instance, in September 2020, Compagnie de Saint-Gobain S.A. acquired Strikolith in the Netherlands, a company specializing in the production of external insulation systems, interior finishing, and renovation products and solutions. The complementarity of Strikolith with Saint-Gobain’s existing businesses enhances the Group’s solution offerings. It particularly enables the company to strengthen its offerings in External Thermal Insulation Composite Systems (ETICS) and construction chemicals in the Netherlands, reinforcing Saint-Gobain’s leading position in energy-efficient renovation in Europe.
