- Steel
- Aluminum
- Zinc
- Copper
- Plastic Panels
- Stucco & EIFS
- Terracotta
- Fiber Cement
- Natural Stones
- Others
Cladding Systems Market size was valued at USD 223.5 billion in 2022, and is expected to grow at a 7.3% CAGR from 2023 to 2029. Cladding Systems are used in the final finishing of building exteriors. The cladding systems helps in protection from wind, rain, dust and other external factors. The cladding systems are mostly used for decorating the buildings and it is also considered to extend the lifespan of the building. The cladding systems provides cool environment inside the building thus helps in saving the energy regarding air conditioners. Increasing urbanization in the emerging countries and growing infrastructures and construction industry are expected to drive the growth of cladding systems market in the forecasted years. In addition, increasing population and increasing construction spendings, increasing industrial developments are expected to increase the demand for cladding systems and thus it is expected to boost the market growth over the forecasted period. The cladding system aids in energy saving in a building by decreasing the energy required for ventilation, air conditioning and heating thus increased demand for energy efficient construction is expected to have a positive impact on the cladding systems market over the forecasted period. Whereas, the use of metal and stone cladding systems in residential buildings are un economical and the inflammable nature of cladding systems has caused many incidences of fire accidents which is expected to hinder the growth of cladding systems market over the forecasted period. Furthermore, the rising demand for energy efficient buildings, rapid urbanization in the emerging countries and increasing construction sector are expected to provided opportunity to the key market players over the forecasted period.
Cladding Systems Market Key Developments:
In May 2022, Etex framing company acquired Irish steel which expanded their business in Ireland and U.K.
In September 2020, Compagnie de Saint-Gobain S.A acquired Strikolith to expand their business market in Netherlands.
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Cladding systems market is expected to grow over the forecast period due to the rapid urbanization in emerging countries, increasing construction sectors, increasing demand for industrial infrastructures. In addition, rising demand for energy-efficient buildings and increasing people’s perception in decorating the building are expected to fuel the growth of cladding systems market over the forecasted years. Whereas, the increasing population and increasing construction of infrastructures are expected to give opportunity to the market key players over the forecasted period. However, the high cost of stone and metal cladding in the residential buildings and inflammable nature of cladding systems are expected to hinder the market growth over the forecasted period.
Cladding Systems market was valued at USD 223.4 billion in 2022, and is expected to grow at a 7.3% CAGR from 2023 to 2029
The growing infrastructures across the globe, increasing population and rapid urbanization is expected to drive the cladding systems market.
The leading players in the global Cladding Systems market are Tata Steel Ltd, Compagnie de Saint-Gobain S.A., DuPont de Nemours, Inc., Arconic Corporation, James Hardie Industries PLC, Etex Group, CSR Limited, Westlake Chemicals, Nichiha Corporation, Kingspan PLC, Louisiana Pacific Corporation, Cembrit Holding A/S, Boral Limited.
North America region is expected to dominate the cladding systems market followed by the Asia Pacific region.