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Cladding Systems Global Market Report 2024 - By Report, Size, Share, Trends, Forecast To 2033
Cladding Systems Market
The cladding systems market size is expected to see strong growth in the next few years. It will grow to $331.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to sustainable construction practices, smart building integration, population growth, cultural and regional preferences, affordable housing initiatives. Major trends in the forecast period include digitalization in construction, integration of smart cladding technologies, lightweight and high-strength materials, fire-resistant cladding solutions, modular cladding systems, dynamic and kinetic cladding designs.
Market Overview -
Cladding is a process where the exterior of a building is covered with panels of a different material. The cladding systems are used for constructing buildings. Cladding is primarily adapted in construction for its function like protecting the exterior and the frame of the building. Indirectly, cladding systems protect the interior of architectural construction.
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Growing Construction Of Residential And Commercial Buildings Propels The Cladding Systems Market
The growth in the construction of new residential and commercial buildings is directly driving the growth of the cladding systems market. The rise in high-end apartments, houses, and skyscrapers in developing countries is driving the growth of various materials used for constructing the building. To provide thermal insulation, and weather resistance, and to improve the appearance of buildings many builders are using cladding systems. According to the Global Construction 2030 report, the volume of construction output is expected to grow by 85% to $15.5 trillion by 2030. Major countries contributing to this growth are China, India and the USA. This rise in the construction market is expected to drive the cladding systems market going forward.
Competitive Landscape -
Major companies operating in the cladding systems market report are Mitsui & Co. Ltd., Itochu Corporation, Marubeni Corporation, Toyota Tsusho Corporation, Compagnie de Saint-Gobain S.A., Sumitomo Corporation, Nippon Steel & Sumitomo Metal Corporation, JFE Steel Corporation, Tata Steel Limited, Hindalco Industries Limited, Sojitz Corporation, Kobe Steel Ltd., Westlake Chemical Corporation, Cold Steel Corporation (Taiwan), DuPont de Nemours Inc., Alcoa Corporation, Alubond USA Inc., Kingspan Group plc, Etex Group, James Hardie Industries plc, Boral Limited, Arconic Corporation, CSR Limited, Nichiha Corporation, Kajaria Ceramics Limited, Glen-Gery Corporation, Greenlam Industries Limited, Glittek Granites, FunderMax GmbH, Axiall Corporation
Rising Demand For Eco-Preferred Cladding Materials Shapes The Future Of Cladding Systems Market
The eco preferred cladding materials are a key trend gaining popularity in the cladding systems market. Companies in the cladding systems market are focusing on developing eco preferred cladding materials to expand the market share. Eco preferred cladding systems are increasingly being used as consumers are becoming more environmentally concerned. Timber cladding is one of the eco preferred cladding materials. The timber cladding is an effective sound and heat insulator and retains heat better than alternative common building materials such as concrete, aluminum, and steel. The heat insulator in timber cladding is key in ensuring a building is energy efficient. The timber cladding is a truly renewable organic resource and does not create any waste. For instance, in 2021 the company Fiberon launched Wildwood composite cladding, which provides the unrivalled beauty and warmth of the wood combined with the durability of high-performance and low-maintenance materials.
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Key Segments -
The cladding systems market covered in this report is segmented -
1) By Material: Steel, Aluminum, Zinc, Copper, Plastic Panels
2) By Application: Walls, Roofs
3) By End User: Residential Buildings, Non-Residential Buildings
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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