As per the report published by Fior Markets, the global cladding systems market is expected to grow from USD 523.71 Billion in 2017 to USD 798.39 Billion by 2025, at a CAGR of 5.41% during the forecast period from 2018-2025. North America emerged as the largest market for the cladding systems with a 39.57% share of market revenue in 2017. Whereas Asia Pacific region is anticipated to grow at the highest CAGR of 7.29%over the forecast period.
“Global Cladding Systems Market by Material (Ceramic, Wood, Stucco & EIFS, Brick & Stone, Metal, Others), Component, Application, Regions”, and Global Forecast 2018-2025.
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Major players in the global cladding systems market are Saint-Gobain S.A., DowDuPont, Tata Steel Limited, Arconic, Mosa, Westlake Chemicals, Etex Group, James Hardie Industries PLC, CSR Limited, Nichiha Corporation, Boral Limited, Cembrit Holding A/S, Louisiana Pacific Corporation, Kingspan PLC, Hindalco, Everest Industries among others. To allay the concerns regarding fire safety of cladding materials, major firms are emphasizing on launching fire resistant cladding systems. For instance Kingspan PLC in 2018, announced the lucnch of QuadCore™ Technology. Cladding materials manufactured with QuadCore™ Technology exhibit, excellent insulating performance coupled with fire resistance.
Material segment is divided into ceramic, wood, stucco & EIFS, brick & stone, metal, vinyl, fiber cement and others. As ceramic tiles enhance the overall aesthetics of a residential or commercial landscape, they are being extensively employed in the building and construction industry. Thus ceramics material segment emerged a leader with a 42.93% share of market revenue in 2017. Owing to their lightweight, durable, impact resistant and are easy to install properties fiber cement material segment is projected to witness the highest CAGR of 7.58% over the forecast period. Component segment is segmented into wall, roof and others. On account of their increasing utilization for provide better insulation and aesthetic look to the wall structures, wall cladding led the global cladding systems market with a 48.92% share of market revenue in 2017. Roof cladding segment is anticipated to grow at the fastest CAGR of 7.72% over the forecast period. This increased pace of the growth can be attributed to extensive use of roof claddings to protect the structure against weather extremities. Application is segmented into commercial and residential. Rising expenditure on development of commercial spaces such as such as hotels, malls, shopping complexes, sporting arenas led commercial to emerge as a leader with a 59.37% share of market revenue in 2017. Growing demand for housing spaces are anticipated to propel residential segment to grow at a CAGR of 7.12% over the forecasted period.
Global increase in infrastructure activities coupled with durability and insulation properties of cladding materials are driving the global cladding systems market. Whereas high raw material and installation cost are proving to be the major restraining factors for the market growth.
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