Cladding Systems Market | Key players operating in the market include Tata Steel Limited, Compagnie de Saint-Gobain S.A., James Hardie Industries PLC, DowDuPont, Arconic

According to recent market research the "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 global cladding systems market size is estimated to be USD 234.1 billion in 2021 and projected to reach USD 306.9 billion by 2026, at a CAGR of 5.6% during the forecast period. The global cladding systems market has witnessed high growth primarily because of the increasing infrastructure and construction activities, worldwide. Not only do these systems protect the building, but they also enhance their appearance. The rebound in commercial construction is expected to increase the demand for external cladding systems. However, factors such as the high installation and raw material cost and the high repairing time and cost may inhibit the growth of this market.

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Stucco is a mixture of cement and other materials such as sand, water, and lime which can be directly applied to a wall. It is one of the oldest cladding materials and is resistant to rot and other damages if installed correctly. It is majorly utilized in residential and commercial buildings and is also known as Portland cement plaster. It offers various benefits such as fire resistance and attractive appearance. Stucco cladding requires low maintenance and installation cost. Exterior insulation and finish systems (EIFS) are installed over stucco claddings and provide varying degrees of continuous insulation. Stucco has an ability to allow air and moisture to pass through it, making it a highly breathable cladding material. It lasts for between 50 to 75 years and is one of the most expensive materials.

Wall claddings protects exterior wall against weathering and enhances aesthetic of walls. Wood & fiber wall cladding are comparatively lower in price than Brick, stucco, and EIFS wall cladding. Demand for wood & fiber wall claddings is growing in residential market due to its lower price. In non-residential building such as manufacturing plants, warehouses, metal and concrete type wall claddings systems are utilized. Steel claddings find their application in freezing and cool store units. Concrete claddings are used as slabs in industrial applications.

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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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