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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Cladding Market Size
The global cladding market size is estimated to witness a healthy growth in the forecast period of 2024-2032, expanding at a CAGR of 5.30% to reach USD 159.50 billion by 2032.
Key Takeaways
- Smart cladding solutions that offer improved energy efficiency, environmental responsiveness, and integration with IoT devices are on the rise.
- Materials that are fire-resistant and comply with stringent fire safety regulations are a must for cladding products.
- There is a growing trend of consolidation within the cladding market as companies acquire others to expand their product portfolio.
Cladding is a non-loadbearing skin or covering affixed to the outside or inside of a building. Wood, metal, plastic (vinyl), brick, and a growing number of composite materials are commonly used as cladding. In addition, cladding helps to synchronise the outer and interior environments of a building and is performed according to the building's operational requirements.
The rapid growth of the construction sector around the world is one of the major factors driving the cladding market growth. This can be attributed to the increased demand for residential and non-residential infrastructure caused by the increasing global population. In addition, its high durability, and the ability to enhance the visual appeal of buildings are also predicted to propel the demand for cladding.
Moreover, the growing need for improved moisture management, fire resistance, thermal resistance, waterproofing, acoustic cladding systems, and energy efficiency in building structures as well as the growing tendency towards protecting exterior walls across the globe are anticipated to add to the cladding market value. At the same time, the governments are also making investments in the production of lightweight and energy-efficient exterior panels for the construction of commercial buildings.
Cladding Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 5.30% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 159.50 billion by 2032.
The major drivers of the industry, such as the increased residential and non-residential constructions, growing demand for enhanced moisture management, fire resistance, thermal resistance, and soundproof cladding systems, and increased government investments in green building projects, are expected to aid the market growth.
The key trends aiding the market include growing usage of sustainable materials, aesthetic and design flexibility, growth of prefabrication and modular construction, and increased technological integration.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant product types include steel, aluminium, composite materials, fibre cement, terracotta, and ceramic, among others.
The significant applications include residential, industrial, commercial, offices, and institutional, among others.
The major players in the market are Kingspan Insulated Panels, Inc., GB Architectural Cladding Products Ltd., Carea Ltd., CGL Systems Ltd., and Rockwool International A/S, among others.
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