Global Cladding Systems Market: Overview
Cladding systems are extensively used in rising construction activities such as commercial, residential, and construction projects. It is the group of products used as a protective or decorative covering for the wall, floors, roofs, and ceilings of the building. Several different materials are used in cladding are steel, wood, the range of PVC, composite materials, concrete, and others. Claddings are usually installed with surface binding techniques. These systems are installed during initial construction of buildings or may retrofit to the existing construction during repairs or refurbishments. Due to cost-effective nature, architects and engineers in the core construction majorly prefer it.
Global Cladding Systems Market: Segmentation
The global cladding systems market is bifurcated based on the application as non-residential and residential. Of these, non-residential segment holds the largest market chunk in the global market. It includes commercial, industrial, and others. The non-residential application is further sub-segmented as industrial, commercial and others. Based on material, the global cladding systems market is divided into vinyl, brick & stone, fiber cement, stucco & EIFS, wood, and metal. Of these, metal material segment accounted for the largest market share in the future. However, vinyl is growing at a faster rate in the global cladding systems market owing to cost-efficient and easy installation. It is highly demanding in the siding for residential buildings. Vinyl siding is considered to be durable and can last up to 30 to 40 years. Furthermore, the global cladding systems market is fragmented based on the component as windows & doors, wall, roof, and others.
Global Cladding Systems Market: Growth Factors
Increasing construction industry drives the global cladding systems market in the near future. Government support for zero energy codes may also fuel the global market. Metal cladding is widely preferred owing to properties it possesses such as aesthetically pleasing and durable. This is anticipated to boost the market growth in coming years. In addition, it is eco-friendly and can be easily recycled which is expected to propel market growth in future. However, renovation, remodeling, and new construction will open up new opportunities in future.
Global Cladding Systems Market: Regional Analysis
North America is one of the leading markets for cladding systems. The company in this region focuses on technical expertise and holding capital-intensive projects, which is expected to witness high growth in the near future. The Asia Pacific is emerging as the attractive niche market for cladding systems due to rapid growth in the construction activities; this in turn positively affects the global cladding systems market. Escalating growth in the disposal income and rising economy further fuel the global cladding systems market.
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Global Cladding Systems Market: Competitive Players
Key players in the global cladding systems market are Tata Steel Limited, Compagnie DE Saint-Gobain SA, Boral Limited, Alcoa Inc., James Hardie Industries PLC, and Cembrit Holding A/S. Others key players influencing the global market are Nichiha Corporation, Axiall Corporation, Etex Group, and CSR Limited.