Cladding Systems Market and Its Key Opportunities and Challenges

December 06 04:08 2019
Cladding Systems Market and Its Key Opportunities and Challenges

Browse 108 market data Tables and 46 Figures spread through 163 Pages and in-depth TOC on “Cladding Systems Market”
Cladding Systems Market by Material (Ceramic, Wood, Brick & Stone, Vinyl, Stucco & EIFS, Metal, Fiber Cement), Use (Walls, Roofs), Application (Residential, Non-Residential), and Region

The Report “Cladding Systems Market by Material (Ceramic, Wood, Brick & Stone, Vinyl, Stucco & EIFS, Metal, Fiber Cement), Use (Walls, Roofs), Application (Residential, Non-Residential), and Region – Global Forecast To 2023” indicated that considering the global cladding systems market size is expected to grow from USD 224.4 billion as calculated in the year 2018 to USD 292.5 billion by the year 2023, at a CAGR of 5.4%. The chief driver’s for this substantial growth in the market is based primarily on the increase in the number of residential & commercial construction projects and a definite rise in infrastructural activities along with a demand for the durability of cladding systems with a capability to resist forces of weathering, chemical attacks, and deterioration.

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The segment that is expected to grow the most in terms of volume is the ceramic segment in the global cladding systems markets. It is pertinent to note that ceramic is primarily used for tile cladding and thus plays a vital role in the construction industry. Cladding tiles enhance the overall atmosphere of residential as well as commercial landscape. The fact that cladding tiles are extremely easy to maintain, highly durable, comfortable, safe to use, stylish and have a variety of design templates makes them a great resource in residential and commercial ventures. The type of ceramic tiles that would be used depends on foot traffic. To further enhance the decoration and aesthetics, wall tiles are used either in the exterior or in the interior. Ceramic tiles are used for a wide range of purposes, which include bathrooms & kitchens in households to restaurants, shopping centers, schools, laboratories, medical centers, and government buildings.

In terms of volume and value, the segment that is estimated to grow the most is the wall cladding segment in the cladding systems market. Wall cladding is used to protect the exterior wall from the weathering effects and also to highlight the appearance of the exterior. Over the years, it has been observed that bricks, stucco, and EIFS have witnessed a decline owing to an increase in price. On the contrary, wood and fiber cement wall cladding are steadily on the rise, particularly in residential buildings. However, in the case of commercial buildings like warehouses and manufacturing units, concrete and metal are the preferred wall cladding. Concrete cladding like slabs and precast panels are also used in various industrial applications. Metal cladding is again the preferred option for industries like freezing units.

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The residential industry is projected to grow the most, both in terms of value and volume and is expected to capture the majority of the cladding systems market share because the builders and the contractors have by now understood the significance of cladding systems as a great way to protect the building from environmental hazards apart from enhancing the appearance of the building. With the advent of environment-friendly green construction, cladding systems have further grabbed the attention of the market consumers.

The rapidly progressing and emerging markets of the Asia Pacific and South America were residential, as well as commercial construction, are experiencing substantial growth. The increase in urbanization in these regions is responsible for this surge in construction activities. Other factors that have led to increased growth in the cladding systems market include the availability of raw materials and human labor with improved and sophisticated technologies and innovative ideas.

One cannot miss the role played by the pouring of foreign investments in the Asia Pacific region, particularly China and India. In India, Tata Steel Limited is one of the major builders in the construction market and has been playing the role of the leader for several years.

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  • Facade Systems Market
  • Fiber Cement Market
  • Aluminum Composite Panels Market
  • Elevators and Escalators Market
  • Ceramic Tiles Market

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