Rainscreen Cladding Market Latest Technology to Reach $206.6 Million by 2030

Market Outlook:
The report analyzes the global rainscreen cladding market on the basis of material, application, construction, and region. The materials covered in this report are composite material, metal, fiber cement, ceramic, and others. The applications taken into consideration in the report are residential, commercial, and industrial. By construction, the market is bifurcated into new construction and renovation. The market is driven by development in residential, commercial, and industrial sectors and economic growth globally. However, fluctuation in raw material prices is anticipated to hamper the growth of the market.

The global rainscreen cladding market size was $103.3 billion in 2020 and is expected to reach $206.6 million by 2030, registering a CAGR of 6.0% from 2021 to 2030. In 2020, Europe region dominated the global rainscreen cladding accounting for 36.49% share of the market.

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Driving Demands:

A growth in residential and commercial industry drives the demand for rainscreen cladding products; thereby, fueling the rainscreen cladding market growth. Increase in residential and non-residential construction and construction renovation industry drives the demands of the rainscreen cladding.

In addition, rise in construction spending in countries such as India, Germany, Japan, the U.S., and others boosts the growth of the market. For instance, expenditure on private construction activities by the U.S. government increased by over 50% and that on public construction grew by over 20% from 2012 to 2020.

However, one of the major restraints for the global rainscreen cladding is fluctuation in raw material prices and unreliability in harsh weather condition. Conversely, increase in construction of green building is predicted to offer lucrative opportunities for the global rainscreen cladding market development.

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Key Segments Based On:
The global rainscreen cladding is segmented on the basis of material, application, construction, and region.

Based on material, the market is segmented into composite material, metal, fiber cement, ceramic, and others. The composite material segment dominated the market in 2020.

Based on application, the market in divided into residential, commercial, and industrial. The commercial segment dominated the market in 2020.

Based on construction, the market is divided into new construction, and renovation. The renovation segment dominated the market in 2020.

Regionally, the market analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Europe generated the highest revenue in 2020.

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Top Players:
The key players profiled in the market report include Rockwool International A/S, Kingspan Group, Sika AG, SFS Group AG, CGL Systems Ltd, Trespa International B.V., Valcan, Sotech Optima ALL, The Clarison Group Ltd (Alucraft Ltd), and Euro Panels Overseas N.V.

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This release was published on openPR.