Claddings Market is expected to garner $362,381 million: Building the Future

When we look at a building, its exterior often doesn't get the credit it deserves. Claddings, the outer layers of a structure, play a pivotal role in aesthetics, energy efficiency, and overall protection. The global claddings market is experiencing significant growth, and in this blog, we'll delve into the key findings of the market report, explore the driving factors behind this growth, and highlight the importance of claddings in modern construction.

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Understanding Claddings

Claddings are essentially non-loadbearing skins or layers attached to the inside or outside of a building. They encompass all moisture barriers and siding materials used to cover a building's exterior. Cladding systems are designed to meet stringent aesthetic and functional requirements while offering long-lasting, energy-saving benefits. The choice of cladding is meticulously assessed for each building orientation, making it a versatile and essential component of modern construction.

Global Claddings Market: By the Numbers

According to a report by Allied Market Research, the global claddings market was valued at $166,026 million in 2015. It's projected to reach an impressive $262,381 million by 2022, growing at a CAGR of 6.7%. This remarkable growth is attributed to several factors driving the claddings market.

Driving Factors for Claddings Market Growth

Residential and Commercial Construction: The surge in residential and commercial construction is a major driver for the claddings market. As urbanization continues, the demand for new structures, both residential and commercial, is on the rise.

Government Regulations: Governments worldwide are implementing regulations aimed at reducing energy consumption in buildings. Cladding systems have a significant role to play in achieving energy efficiency, making them crucial for meeting these regulations.

Sustainable Construction: The demand for sustainable construction materials is increasing. Cladding systems offer the potential for sustainable and eco-friendly construction, aligning with the global focus on green building practices.

Growth of Fiber Cement: Fiber cement is emerging as a popular cladding material due to its sustainability, availability from renewable sources, tensile strength, and affordability. This trend is set to grow over the forecast period.

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Key Market Segments

The global claddings market is divided into various segments:

Component Type: This includes walls, roofs, windows & doors, and others such as rooflights, vents, and gutters. Walls are the most dominant component type, making up 63.1% of the claddings market in 2015.

Material Type: Cladding materials include masonry & concrete, brick & stone, stucco & EIFS, fiber cement, metal, vinyl, wood, and others. Vinyl cladding holds the largest market share due to its cost-effectiveness and availability.

End-Use Sector: The market is classified into residential and non-residential segments. Non-residential, including commercial buildings and public infrastructure, accounted for 61.6% of the market in 2015.

Geographical Impact

North America generated the highest revenue, and is expected to grow at a CAGR of 6.9%, closely followed by Asia-Pacific. Asia-Pacific's rapid growth is driven by the construction sector's expansion, creating substantial demand for cladding systems.

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The global claddings market is on a growth trajectory, driven by the construction boom, government regulations, and the demand for sustainable building materials. As urbanization continues and the world moves towards more energy-efficient and environmentally friendly construction practices, cladding systems play a crucial role. They enhance the aesthetics, energy efficiency, and sustainability of buildings, and their importance will only increase in the future. With innovation and technological advancements, the claddings market is set to provide essential solutions for modern construction challenges, contributing to safer, more energy-efficient, and aesthetically pleasing structures.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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