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Cladding Systems Market

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Cladding Systems Market report categorizes global market by cladding material, cladding surface, cladding system type, building type, and function - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
Cladding Systems Market - Global
Industry Insights, Trends, 2018-2026
Cladding systems are used to give a final finish to the building exteriors. They help
protect the building from dust, rain, snow, wind, and other external factors. Moreover,
cladding systems serve decorative functions as well and make buildings visually
appealing. The lifespan of building also increases on application of cladding. Though it
is not a load bearing component, it contributes in transferring wind and snow loads. It
also provides thermal and sound insulation, thereby increasing energy savings
associated with air conditioning.
High performance characteristics of the cladding system coupled with rising
construction activities around the world is expected to boost the market growth over the
forecast period. High installation and maintenance costs are expected to restrain the
market growth. In addition to this, shortage of raw material is also a major issue.
Vinyl is a widely used material in cladding owing to its high durability and availability in a
broad range of colors. Vinyl cladding is highly preferred in residential applications due to
the pleasant finish it offers.
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Curtain walling is used in multistoried buildings. It consists of aluminum onto which
glazed panels are attached. Sandwich panels are three layered composites. Rain
screen prevents moisture from entering the building. Timber cladding involves usage of
thermally modified timbers, which are moisture and resin free. Tensile fabric coverings
are temporary cladding systems that wear out quickly when compared to its
counterparts.
Residential building is the largest segment for cladded structures owing to the rising
construction activities all around the world to meet the requirements of growing
population.
Cladding Systems Market Outlook
North America is the largest market for cladding systems due to the burgeoning
construction industry in the region. The U.S. is the second largest construction market in
the world after China. With the Trump government promising a wave of change in public
infrastructure, market is projected to grow in the region. Moreover, the New Building
Canada Fund commits US$ 10 billion over a ten year period i.e. 2014-2024 to build
public infrastructure
Europe is also a major market owing to adverse weather conditions in the region. With
most regions experiencing sub-zero temperatures and snowfall in winter months, all
infrastructures require the use of cladding systems. The market is expected to witness
sluggish growth due to maturation and highly developed public & private infrastructure
Asia Pacific is the fastest growing market owing to flourishing construction industry in
the emerging markets of India, China, Indonesia, and ASEAN. High urbanization rate
has also significantly contributed to market growth. According to the World Bank, 56%
of China’s and 33% of India’s population live in urban settlements
Middle East has witnessed a growth in construction industry, with Qatar and Saudi
Arabia being the prominent countries driving market. This is primarily attributed to the
upcoming FIFA World Cup 2022 in Qatar, which is likely to attract millions of people to
the country. Construction of stadia, hotels, malls, and public infrastructures is further
driving market growth. Moreover, thermal insulation is a necessity during the scorching
summer.
Latin America had experienced growth in construction industry post 2010. Consecutive
sporting events in the form of FIFA World Cup 2014 and Olympics 2016 have given the
Brazilian economy a boost. However, recently a slowdown has been observed. A return
to previous growth figures is expected due to rising consumption among the growing
population
The Grenfell Tower in London, where the fire broke out on June 29, 2017 was installed
with banned cladding system. Stringent regulations in developed countries lead to more
scrutiny on cladding systems, which in turn is expected to result in new product
development. Some of the major players in the cladding systems market are Tata Steel
Limited, Alcoa Inc., Etex Group, Compagnie de Saint Gobain SA, and CSR Limited.
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