Global Cladding Market is valued at approximately USD 210.41 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.0% over the forecast period 2022-2029. Cladding is a process of covering one material with another for the purpose of improving its appearance, durability, or functionality. In construction, cladding refers to the application of one material over another to provide a protective layer and enhance the aesthetic appeal of the building’s exterior. Common materials used for cladding in construction include wood, metal, stone, brick, and composite materials. Cladding can be applied to walls, roofs, and other surfaces of a building. It serves as a protective barrier against weather and environmental factors, and can also provide thermal insulation to improve energy efficiency. The market demand is primarily driven by the factors such as aesthetics and durability cladding provide, coupled with technological advancements.
In addition, the increase in infrastructure and non-residential construction projects is acting as a major driving factor for market growth. According to Statista, The worldwide construction industry’s income is anticipated to increase consistently during the coming years. It is anticipated to grow by more than two times from its current size by 2030. In 2020, the construction market was worth 6.4 trillion dollars, and by 2030, it is anticipated to be worth 14.4 trillion, thus, in turn, these factors are expected to escalate the demand for cladding in the global market. Furthermore, Urbanization and infrastructural developments, as well as the rise in population and emerging economies are presenting lucrative opportunities for market growth over the forthcoming years. However, the high cost of maintenance is restricting the market growth over the forecast period of 2022-2029.
The key regions considered for the Global Cladding market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the rising urbanization, population growth, and per capita income in emerging nations, along with increased construction activity. Whereas, North America is also expected to grow at the highest growth rate over the forecasting period. Factors such as rising residential demand, government efforts to improve social infrastructure, and more understanding of the advantages of weather protection for buildings are burgeoning the market growth in the forecasting years.
Major Market players included in this report are:
Kingspan Group Plc
GB Architectural Cladding Products Ltd
Rieger Architectural Products Ltd.
OmniMax International, LLC
CGL Systems Ltd.
SFS Group AG
Centria Architectural system
Trespa International B.V.
Recent Developments in the Market:
In September 2022, Kingspan Group acquires Ondura as part of its development into the Roofing and Waterproofing sector. Both customers and the environment benefit from high-quality systems and products that reduce the amount of energy and carbon emitted by buildings. Kingspan, the world’s foremost provider of high-performance insulation and cutting-edge building envelope solutions, are happy to announce our ongoing entry into the roofing and waterproofing market through the acquisition of Ondura Group.
In October 2021, OmniMax International has acquired Verde Industries, Inc. Based in Phoenix, Arizona, Verde is a top producer of superior roof flashing and plastic weather-blocking products. In order to complement OmniMax’s residential building and roof drainage solutions, Verde will operate as a subsidiary of OmniMax and be integrated into its Consumer business. Customers of both companies will benefit substantially from the combined businesses, which will offer a wider range of products, better service in more regions, and expanded investments across the larger manufacturing footprint.
Global Cladding market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World