Cladding Market - Growth, Trends, and Forecasts (2020 - 2025)
Cladding helps maintain a balance between the exterior and interior environment of the structure and is designed to meet the aesthetic and functional requirements simultaneously. Cladding is done based on the operational requirement of the building. The rise in infrastructure and construction activities in residential and non-residential spaces worldwide are the main factors driving the growth of the cladding market.
Stringent government regulations, green buildings regulations, and codes such as LEED certifications are also propelling the investments in lightweight and energy-efficient market cladding systems in residential and non-residential buildings.
The demand for fire resistance, thermal resistance, water resistance, and soundproof cladding systems is growing. Innovative eco preferred cladding materials are preferred in the market as a consumer is becoming more environmentally concerned. The high cost of the cladding system and materials may restrain the growth of the market. Customers in the market are opting for vertical gardens on their exterior walls to create a sustainable yet attractive look. This is further leading to the development of artificial green walls with a natural look and reduces the need for watering and maintenance.
Concrete Materials for Cladding have Dominated the Market while Fiber Cement Category to Grow Fastest
Concrete material is expected to remain popular in the market, accounting for a larger market share among the materials. Among which the fiber cement cladding is expected to grow fastest. Fiber cement material is a low cost, durable, and is easy to maintain. Fiber cement cladding can also be installed in a region with extreme weather conditions. The cladding can be expanded and contracted due to its unique composition. The fiber attached to cement provides strength to the material, also prevents cracks on the surface. It is also seen as a replacement of concrete/cement as the later had a carcinogenic effect on human health.
The Asia-Pacific Region is Expected to Grow fastest, while North America Dominates the Market
North America dominates the market because of its capital intensive industry and availability of skilled labor in the market. The demand in the North America region is driven primarily from housing market growth. However, the Asia-Pacific market is expected to grow fastest due to strong demand from developing economies such as China and India. The other factors driving the market are increasing construction in the region, along with the availability of cheap raw material, labor, and sophisticated technologies in the market.
The market is competitive in nature, with various regional players present in the market. Very few companies are present at the global level. Players are innovating new cladding materials in order to meet the different demands in the market. For instance, Saint-Gobain S.A. is innovating the cladding material segment of flat glass and high-performance materials. The interior solutions comprise insulation and gypsum products, whereas, the exterior solutions consist of pipes, industrial mortars, and exterior products. Companies are adopting acquisition and merging strategies to gain the market share.