The global cladding market is expected to
reach USD 111.1 billion by 2025, according to a new report by Grand View
Research, Inc. Growing demand for enhanced moisture management & energy
efficiency in project exteriors, especially from key construction industry
participants including architects & designers.
The shift in trend towards
protecting exterior walls and growing construction of nonresidential buildings
such as offices & institutions in both developed and developing economies
is expected to drive cladding growth. Stringent green building regulations
& codes such as the LEED certification and others are encouraging investments
in lightweight & energy-efficient exterior panels in commercial as well as
residential buildings.
Abundant raw material supply is
fostering investments from foreign manufacturers in Southeast Asian countries,
along with technological advancements that are driving growth in the Asian
markets. Rising consumer disposable income and rising construction spending in
these economies are also responsible for driving growth.
Terracotta cladding is
anticipated to remain the dominant product segment with over 25% of the volume
share in 2016. Terracotta is anticipated to grow on account of its inherent
properties such as low water absorption, non-flammable, frost proof and
anti-graffiti. The warm, natural look and texture of this material is combined
with a more modern, highly articulated cladding system on walls.
Browse full research report on Cladding Market: http://www.grandviewresearch.com/industry-analysis/cladding-market
Further key findings from the report suggest:
- The global cladding demand exceeded 5.4 million sq.
meters in 2016 and is expected to grow at a CAGR of 4.8% from 2017 to 2025
- Ceramic panels are extremely hygienic since it is
easy to clean, resistant to external weather conditions and requires low
maintenance. Additionally, the material is inflammable and scratch
resistant which has fostered its demand in residential applications, as
home-owners seek more sustainable and safe solutions.
- Fiber cement panels possess properties to resist
fungi, mold and bacteria growth, which has led to an increase in their
demand.
- Fiber cement panels also require special installation
tools and can be installed over any form of substrate, which is expected
to drive their growth at 5.6% CAGR from 2017 to 2025.
- Increase in spending on the development of
educational and healthcare buildings is expected to drive growth in the
institutional segment. Exterior walls in schools & colleges require
thermal insulation & impact resistance at a low cost, with frequent
repair or maintenance efforts, which is facilitated by such panels.
- Growing population in emerging economies of Asia
Pacific and Latin America is expected to drive demand for educational,
commercial & official spaces.
- Construction of healthcare facilities with advanced
technologies & boom of medical tourism particularly in Asia shall
increase construction spending, thereby propelling demand for façade
panels.
- Key companies operating in the industry include
Kingspan, Carea, Celotex, Al Ghurair, GB Architectural, CGL Facades,
Trespa, Middle East Insulation, and Avenere.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand View Research has segmented the global cladding market
on the basis of product, application, and region:
Cladding Product Outlook (Volume, Million Sq. Meters;
Revenue, USD Million, 2014 - 2025)
- Steel
- Aluminum
- Composite
Materials
- Fiber
Cement
- Terracotta
- Ceramic
- Others
Cladding Application Outlook (Volume, Million Sq. Meters;
Revenue, USD Million, 2014 - 2025)
- Residential
- Industrial
- Commercial
- Offices
- Institutional
Cladding Regional Outlook (Volume, Million Sq. Meters;
Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Mexico
- Brazil
- Middle
East & Africa
- Bahrain
- Egypt
- Iran
- Iraq
- Jordan
- Kuwait
- Libya
- Oman
- Qatar
- Saudi
Arabia
- Sudan
- Syria
- Turkey
- United
Arab Emirates
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-cladding-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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