Cladding Systems Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR (2024 - 2029) | 6.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Cladding Systems Market Analysis
The Cladding Market is expected to register a CAGR of greater than 6% during the forecast period(2024-2029).
The construction industry was significantly and negatively impacted by COVID-19. The limitations put in place by the government to stop the virus's spread and effects hindered project development and had a bad effect on manufacturers, supply chains, equipment, materials, and labor. This crisis hampered the growth of the construction industry, which in turn restrained the demand for cladding.
Because the construction industry is growing around the world, the cladding market is expected to grow steadily over the next few years. The product helps to improve a building's energy efficiency, which means that less energy is needed for heating, cooling, and ventilation. One of the primary factors driving market growth is the increased demand for energy-efficient construction solutions.
Cladding keeps the outside and inside environments of a building in balance and is made to meet both aesthetic and functional needs. Cladding is done in accordance with the building's operational requirements. The expansion of infrastructure and construction activities in residential and non-residential spaces around the world are drivers of the cladding market.
Stringent government regulations, green building regulations, and codes such as LEED certifications are also propelling investments in lightweight and energy-efficient market cladding systems in residential and non-residential buildings.
The demand for fire resistance, thermal resistance, water resistance, and soundproof cladding systems is growing. Innovative, eco-friendly cladding materials are preferred in the market as consumers have become more environmentally concerned. The high cost of the cladding system and materials may restrain the growth of the market. Customers in the market are opting for vertical gardens on their exterior walls to create a sustainable yet attractive look. This is further leading to the development of artificial green walls with a natural look, which reduces the need for watering and maintenance.
Cladding Systems Market Trends
Growing Construction and Infrastructure Sectors is Driving the Market
The number of new homes and businesses being built is making the market for cladding systems grow.In developing countries, more and more homes, apartments, and skyscrapers are being built that are big and fancy. This is helping to increase the use of different building materials. Cladding systems are used in a variety of construction projects to protect the original structure of the building. These layers provide weather resistance, thermal insulation, and improved aesthetics for the building. As a result, cladding systems are made from strong, vital materials such as steel, copper, aluminum, polymers, and fiber cement. The cladding market is expected to grow rapidly as construction and infrastructure activities increase globally.
For example, the Global Construction 2030 report says that the income of the global construction industry will steadily rise over the next few years. It is anticipated to grow by more than twofold by the forecasted period. The construction market was worth 8.2 trillion US dollars in the current year, China, India, and the United States are major contributors to this expansion. This increase in the construction market is expected to fuel the cladding systems market in the future.
The Asia-Pacific Region is Expected to Grow fastest, while North America Dominates the Market
During the forecast period, the North American cladding market is expected to grow a lot. This is because there is more demand for homes and the US and Canadian governments are working to improve social infrastructure. Furthermore, increased awareness of the advantages of weather protection for buildings promotes market growth. Moreover, because of its capital-intensive industries and access to skilled workers, North America dominates the market. The expansion of the housing market in North America is the main factor driving demand.
But the Asia-Pacific market is expected to grow at the fastest rate because there is a lot of demand from developing countries like China and India. Rising per capita income, rapid urbanization, and a growing population, as well as rising construction activities in emerging economies such as China, India, and Japan in the Asia Pacific region, led the market. Together with rising buildings in the area, affordable raw materials, skilled labor, and cutting-edge technologies are key market-driving drivers.
During the projected time period, demand for cladding in Europe is expected to rise due to a rise in commercial building projects. A rise in the use of cladding to improve the look of a building is also expected to increase demand for the product over the projected time period.
During the projection period, the construction industry in the Middle East and Africa is expected to bounce back. This is because factors like more investments, more oil production, and better weather are expected to increase the need for cladding.
Cladding Systems Industry Overview
The cladding market is competitive in nature, with various regional players present in the market. Very few companies are present at the global level. Some of the major players in the cladding market are Arconic Inc., Tata Steel Ltd., Etex Group, Compagnie de Saint-Gobain SA., and Kingspan Group, among others. Players are innovating new cladding materials in order to meet the different demands in the market. For instance, Saint-Gobain S.A. is innovating in the cladding material segment with flat glass and high-performance materials. The interior solutions comprise insulation and gypsum products, whereas the exterior solutions consist of pipes, industrial mortars, and exterior products. Companies are adopting acquisition and merger strategies to gain market share.
Cladding Systems Market Leaders
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Arconic Inc.
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Tata Steel Ltd.
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Etex Group
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Compagnie de Saint Gobain SA.
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Kingspan Group
*Disclaimer: Major Players sorted in no particular order
Cladding Systems Market News
- February 2023: Tata Steel established a Centre for Innovation in Mining and Mineral Beneficiation at the Indian Institute of Technology (Indian School of Mines), Dhanbad.
- August 2022: Kingspan established its Roofing + Waterproofing division through the acquisition of Ondura Group and Derbigum. The acquisitions of Ondura Group and Derbigum have brought the new Division into both flat and pitched roof membrane solutions, from the primary outer layer of the roof to the secondary underlay.
Cladding Systems Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Value Chain / Supply Chain Analysis
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4.5 Porter's Five Forces Analysis
- 4.5.1 Bargaining Power of Buyers/Consumers
- 4.5.2 Bargaining Power of Suppliers
- 4.5.3 Threat of New Entrants
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Insights on Trends in the Construction and Cladding Market
- 4.7 Insights on Technological Disruptions in the Market
- 4.8 Insights on Government Regulations in the Market
- 4.9 Insights on Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Material
- 5.1.1 Metal
- 5.1.2 Terracotta
- 5.1.3 Fiber Cement
- 5.1.4 Concrete
- 5.1.5 Ceramics
- 5.1.6 Wood
- 5.1.7 Vinyl
- 5.1.8 Other Materials
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5.2 By Component Type
- 5.2.1 Wall
- 5.2.2 Roofs
- 5.2.3 Windows and Doors
- 5.2.4 Other Component Types
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5.3 By Application
- 5.3.1 Residential
- 5.3.2 Non-residential
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5.4 By Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.1.4 Rest of North America
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Russia
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 India
- 5.4.3.2 China
- 5.4.3.3 South Korea
- 5.4.3.4 Japan
- 5.4.3.5 Rest of Asia-Pacific
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 United Arab Emirates
- 5.4.5.2 Saudi Arabia
- 5.4.5.3 Rest of the Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
- 6.2 Megers and Acquisitions
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6.3 Company Profiles
- 6.3.1 Arconic
- 6.3.2 Tata Steel Ltd
- 6.3.3 Compagnie de Saint Gobain SA
- 6.3.4 Etex Group
- 6.3.5 Kingspan Group
- 6.3.6 James Hardie Industries PLC
- 6.3.7 Boral Limited
- 6.3.8 CSR Building Products
- 6.3.9 Nichiha Corporation
- 6.3.10 Cembrit Holding AS
- 6.3.11 DowDuPont*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
Cladding Systems Industry Segmentation
The exterior of a structure is covered with panels made of a different material during the cladding process. Buildings are constructed using cladding systems. The cladding market report provides an overview of the market with an exhaustive analysis of current advancements in the market. The report also focuses on the trends in production and consumption data for the product, policies and plans, cost structures, and manufacturing processes. Moreover, the company profiles of the key manufacturers, along with a thorough analysis, are also provided.
The Metal Cladding Market Is Segmented By Material (Metal, Terracotta, Fiber Cement, Concrete, Ceramics, Wood, Vinyl, And Other Materials), By Component Type (Wall, Roofs, Windows, And Doors), By Application (Residential, Non-Residential), And By Geography (North America, Europe, Asia-Pacific, South America, And The Middle East And Africa). The Market Size And Forecasts Are Provided In Terms Of Value (USD) For All The Above Segments.
| By Material | Metal | |
| Terracotta | ||
| Fiber Cement | ||
| Concrete | ||
| Ceramics | ||
| Wood | ||
| Vinyl | ||
| Other Materials | ||
| By Component Type | Wall | |
| Roofs | ||
| Windows and Doors | ||
| Other Component Types | ||
| By Application | Residential | |
| Non-residential | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Russia | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | India |
| China | ||
| South Korea | ||
| Japan | ||
| Rest of Asia-Pacific | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| By Geography | Middle-East and Africa | United Arab Emirates |
| Saudi Arabia | ||
| Rest of the Middle-East and Africa |
Cladding Systems Market Research FAQs
What is the current Cladding Market size?
The Cladding Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Cladding Market?
Arconic Inc., Tata Steel Ltd., Etex Group, Compagnie de Saint Gobain SA. and Kingspan Group are the major companies operating in the Cladding Market.
Which is the fastest growing region in Cladding Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cladding Market?
In 2024, the North America accounts for the largest market share in Cladding Market.
What years does this Cladding Market cover?
The report covers the Cladding Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Cladding Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cladding Systems Industry Report
Statistics for the 2024 Cladding Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cladding Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
