The cladding systems market is projected to grow from USD 268.4 billion in 2023 to USD 347.7 billion by 2028, at a CAGR of 5.2% from 2023 to 2028. The global cladding systems market has witnessed high growth primarily because of the increasing infrastructure and construction activities worldwide. The global construction industry is expanding, driven by population growth, urbanization, and economic development. Cladding systems play a crucial role in modern architectural designs, offering aesthetic appeal, energy efficiency, and weather protection. The rising demand for new residential, commercial, and industrial buildings fuels the growth of the cladding systems market.
Ceramic cladding segment to be the fastest-growing material during the forecast period
Ceramic cladding stands out for its exceptional durability and ability to withstand various environmental factors, including weathering, UV radiation, and pollutants. It is a non-combustible material that resists fading and does not degrade over time. These characteristics contribute to its long-lasting nature and minimal maintenance needs, making ceramic cladding an appealing option for both new constructions and renovations. With its longevity and low upkeep requirements, ceramic cladding offers a reliable and practical solution for building exteriors.
The wall segment is projected to be the fastest-growing type in cladding systems market
Walls are more visible and prominent in the overall appearance of a building. Therefore, architects and designers often prioritize the visual appeal of wall cladding materials to create unique and eye-catching facades. The increasing demand for aesthetically pleasing building exteriors has led to a greater focus on wall cladding solutions. Further, Cladding systems on walls provide an additional layer of protection, preventing moisture intrusion and offering resistance against weathering and environmental pollutants. The need to safeguard the building envelope and enhance its durability has contributed to the growth of wall cladding solutions.
The residential segment is projected to be the fastest-growing application in cladding systems market
The residential construction sector is experiencing significant growth on a global scale due to factors such as population growth, urbanization, and increased demand for housing. This growth has led to a notable increase in the demand for cladding systems in residential applications. Homeowners and developers now place a higher emphasis on the visual appeal of residential buildings. As a result, cladding systems have become increasingly popular due to their ability to offer a wide array of design options. These systems allow for customizable and aesthetically pleasing exteriors, enabling homeowners to personalize the appearance of their homes by choosing from a variety of cladding materials, textures, colors, and patterns. The desire to create visually appealing residential structures has been a driving force behind the growing adoption of cladding systems in residential projects.
Asia Pacific accounts for the largest share in the cladding systems market by region
In 2022, Asia Pacific held the largest market share in the cladding systems market, followed by Europe and North America. The Asia Pacific region has experienced notable urbanization and population growth, leading to a higher demand for residential, commercial, and industrial buildings. This surge in construction activities has created a need for cladding systems to enhance the aesthetics, functionality, and durability of structures. Several countries in the Asia Pacific region, such as China, India, and various Southeast Asian nations, have witnessed strong economic growth. This economic expansion has resulted in substantial investments in infrastructure development, including the construction and renovation of buildings. Cladding systems play a vital role in these modern infrastructure projects, further driving the demand for such systems in the region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments and information was gathered through secondary research.
The break-up of primary interviews is given below:
- By Company Type - Tier 1: 35%, Tier 2: 40%, and Tier 3: 25%
- By Designation - C-Level: 25%, D-Level: 35%, and Others: 40%
- By Region - North America: 20%, Europe: 35%, Asia Pacific: 30%, Middle East & Africa: 10%, and South America: 5%
Notes: *Others include sales, marketing, and product managers.
Notes: Tier 1: >USD 5 Billion; Tier 2: USD 1 Billion- USD 5 Billion; and Tier 3: <USD 1 Billion
Companies Covered: The companies profiled in this market research report include 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), Louisiana Pacific Corporation (US), and Kingspan PLC (UK) and others.
Research Coverage:
The market study covers the cladding systems market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, material, application, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the cladding systems market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall cladding systems market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (rise in construction and infrastructure activities, increase in non-residential construction and infrastructural activities, and high durability of cladding systems), restraints (high raw material and installation cost) opportunities (increasing demand for protective systems enhancing esthetic appeal of buildings, rise in population and urbanization in emerging economies, increase in demand for sustainable cladding materials, and increase in demand for fiber cement in cladding systems), and challenges (high cost of repairing) influencing the growth of the cladding systems market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the cladding systems market
- Market Development: Comprehensive information about lucrative markets - the report analyses the cladding systems market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the cladding systems market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like 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), Louisiana Pacific Corporation (US), and Kingspan PLC (UK) among others in the cladding systems market.
Table of Contents
Companies Mentioned
- Arconic
- ArcelorMittal
- Accord Floors
- Boral Limited
- Compagnie De Saint-Gobain S.A.
- CSR Limited
- Cembrit Holding
- Coverworld UK
- CA Group Limited
- Carea
- Dow Inc.
- Dumaplast
- Etex Group
- James Hardie Industries plc
- Kingspan plc
- Louisiana Pacific Corporation
- Middle East Insulation LLC
- Nichiha Corporation
- Tata Steel Limited
- Timco
- Trespa International B.V.
- Westlake Chemical
- Westman Steel
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 166 |
| Published | June 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 268.4 Billion |
| Forecasted Market Value ( USD | $ 347.7 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 23 |
