Cladding Systems Market worth $306.9 billion by 2022 | Key players DowDuPont, Tata Steel Ltd, Arconic, Westlake Chemicals, Etex Group

According to recent market research "Cladding Systems Market by Material (Ceramic, Wood, Brick & Stone, Vinyl, Stucco & EIFS, Metal, Fiber Cement), Use, Application (Residential, Non-Residential), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2026", published by MarketsandMarkets, the cladding systems market is projected to grow from USD 234.1 billion in 2021 to USD 306.9 billion by 2026, at a CAGR of 5.6% from 2021 to 2026. Cladding systems market is expected to grow in accordance to the growth of construction industry across the globe. Factors such as increase in the residential and commercial construction and infrastructure activities, along with the demand for durability of cladding systems with the ability to withstand various weathering actions and resist chemical attacks & deterioration are expected to support market growth during the forecast period.

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Ceramic is mainly used for tile cladding, hence play an important role in the construction industry. The ceramic tiles enhance the overall atmosphere of a residential or commercial landscape. The selection of the type of these tiles is based on several factors such as ease of maintenance, durability, comfort, safety, style, and design templates. Foot traffic plays an important role in the selection of the type of ceramic tiles. The wall tiles are employed in the interior as well as the exterior of the building to meet the requirement of decoration or aesthetics. The usage of ceramic tiles ranges from bathrooms and kitchens in households to laboratories, restaurants, medical centers, shopping centers, schools, and government buildings.

Wall claddings are designed to protect the exterior wall from the effects of weathering and also to enhance the appearance of the walls in a building. Brick, stucco, and EIFS wall cladding trends have declined over the years due to their increasing price, whereas wood and fiber cement wall cladding are gaining momentum, especially in residential buildings. In commercial buildings such as warehouses and manufacturing plants, concrete and metal form the main wall cladding systems. Concrete cladding such as slabs and precast panels are widely used in industrial applications. Metal cladding, such as steel, is also used in other industrial buildings such as cool stores and freezing units.

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The cladding systems market is projected to grow from USD 234.1 billion in 2021 to USD 306.9 billion by 2026, at a CAGR of 5.6% from 2021 to 2026. Demand for cladding systems market can be attributed to the high growth of construction industry across the globe. Factors such as increasing residential and non-residential construction and infrastructure activities, and its high durability drives the demand for cladding systems.

The cladding systems market has been dominated by large players such as Compagnie de Saint-Gobain S.A. (France), DowDuPont (US), Tata Steel Limited (India), Arconic (US), Westlake Chemicals (US), Etex Group (Belgium), James Hardie Industries PLC (Ireland), CSR Limited (Australia), Nichiha Corporation (Japan), Boral Limited (Australia), Cembrit Holding A/S (Denmark), Louisiana Pacific Corporation (US), and Kingspan PLC (UK). These players have adopted various growth strategies such as expansions, investments, divestments, new product developments, acquisitions, partnerships, agreements, and joint ventures to increase their market shares and enhance their product portfolios.

The strategies of expansions, acquisitions, and new product launches together accounted for the largest share of all the strategic developments that took place in the cladding systems market between 2016 and 2021. Key players such as Compagnie de Saint-Gobain S.A. (France), DowDuPont (US), Tata Steel Limited (India), Arconic (US), Westlake Chemicals (US), Etex Group (Belgium), James Hardie Industries PLC (Ireland) adopted these strategies to strengthen their product portfolios, expand their market presence, and enhance their growth prospects in the cladding systems market.

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Compagnie de Saint-Gobain S.A. is one of the key industrial groups at a global level. It designs, manufactures, and supplies materials, as well as solutions for transportation, building, infrastructure, and industrial applications. The company operates through its four business segments, namely, building distribution, construction products, innovative materials, and others. Its innovation material segment includes flat glass and high-performance materials. Its construction products segment includes two solutions- interior and exterior solutions. The interior solutions comprise of insulation and gypsum products, whereas the exterior solutions consist of pipes, industrial mortars, and exterior products. The company has a strong foothold across the globe with operations in 67 countries along with eight research centers worldwide.

Arconic focuses on the engineering and production of lightweight metals. It was formed as a result of the spun-off of Alcoa Inc. (US), in November 2016, which separate into two independent public companies. The company has three business segments, namely rolled products, building & construction systems, and extrusions, engineered products and solutions, global rolled products, and transportation and construction solutions. The company's wide product portfolio serves applications in aerospace, automotive, commercial transportation, building & constructions, industrial solutions, energy as well as in defense and space. It provides aluminum and metal composite panels for exterior cladding. The company has around 2,476 patents, globally (granted as well as pending). It operates in 25 countries altogether and is present in 151 locations, globally. Addition to this, it has sales and administrative offices and distribution centers in 13 locations worldwide.

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