Cladding Systems Market is Projected to Grow at a CAGR of 5.5% from 2024-2030

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Cladding Systems Market, The Global Cladding Systems Market size was valued at around USD 269.5 billion in 2023 and is projected to reach around USD 358.8 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.5% during the forecast period, i.e., 2024-30. The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Cladding Systems Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

Forecast Period: 2024-2030
Market Size in 2023: USD 269.5 billion
CAGR (2024-2030): 5.5%

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Global Cladding Systems Market Segmentation Breakdown:

By Material
- Ceramics- Market Size & Forecast 2019-2030, Million Sq. Meter
- Wood- Market Size & Forecast 2019-2030, Million Sq. Meter
- Stucco & EIFS- Market Size & Forecast 2019-2030, Million Sq. Meter
- Concrete- Market Size & Forecast 2019-2030, Million Sq. Meter
- Metal- Market Size & Forecast 2019-2030, Million Sq. Meter
- Vinyl- Market Size & Forecast 2019-2030, Million Sq. Meter
- Others (Terracotta, Fiber Cement, etc.)- Market Size & Forecast 2019-2030, Million Sq. Meter
By Type
- Walls Cladding- Market Size & Forecast 2019-2030, Million Sq. Meter
- Roofs Cladding- Market Size & Forecast 2019-2030, Million Sq. Meter
- Windows Cladding- Market Size & Forecast 2019-2030, Million Sq. Meter
- Others (Doors Cladding, etc.)- Market Size & Forecast 2019-2030, Million Sq. Meter

Walls Cladding segment holds the major market share due to the rapid growth in the construction industry. This is primarily attributed to the extensive surface area walls occupy in buildings, offering the largest canvas for cladding application.

By Application
- Residential- Market Size & Forecast 2019-2030, Million Sq. Meter
- Non-Residential- Market Size & Forecast 2019-2030, Million Sq. Meter
  - Industrial- Market Size & Forecast 2019-2030, Million Sq. Meter
  - Commercial- Market Size & Forecast 2019-2030, Million Sq. Meter
  - Offices- Market Size & Forecast 2019-2030, Million Sq. Meter

The non-residential sector, encompassing industrial, commercial, and office buildings, is leading the cladding systems industry in terms of revenue growth. Non-residential projects typically involve larger structures and higher budgets, allowing for more extensive use of cladding systems.

Geographical Growth Insights:

By Region

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

Europe is leading the global cladding industry due to a unique combination of factors related to tourism, sustainability initiatives, and architectural innovation.

MarkNtel Advisors Highlights Key Market Drivers for Cladding Systems Market:

Surging Demand for Protective & Aesthetic Solutions for Architectural Buildings – The increasing demand for protective and aesthetical cladding systems is a significant driver for the market. Cladding systems serve both protective and aesthetic purposes. They shield buildings from environmental factors such as UV radiation, temperature fluctuations, etc. while also improving their visual appeal. Over the historical years, the dual functioning cladding has been highly valued in modern architecture and construction.

Architects and designers have been using cladding systems to create diverse visual effects. One such example is The Walt Disney Concert Hall in Los Angeles, which was designed by Frank Gehry and featured striking stainless steel cladding that has become an iconic part of the city's skyline. According to the Council of Tall Buildings and Urban Habitat (CTBUH), a higher number of buildings are being constructed in cities such as Shanghai, Shenzhen, Hong Kong, Dubai, Riyadh, Mumbai, London, etc. The architectural and engineering designs have widely implemented exterior cladding systems in buildings, thus driving market growth globally.

In addition, cladding systems offer an effective way to renovate and modernize existing buildings, contributing to urban renewal projects. The renovation of the Tour Montparnasse in Paris includes a new glass cladding system that changed the tower's appearance and improved its energy performance. Moreover, for commercial buildings, cladding is to express corporate identity and create distinctive landmarks. Furthermore, the shift towards off-site construction and modular building techniques has increased the demand for prefabricated cladding systems.

A Comprehensive Analysis of Leading Companies in Global Cladding Systems Market

Arconic Corp., Tata Steel Ltd., Compagnie de Saint Gobain SA, Etex Group, Kingspan Group, James Hardie Industries PLC, Boral Limited, CSR Group (Cemintel), Nichiha Corporation, CSS FACADES Ltd. (Cembrit HD), DuPont (CORIAN), Dumaplast, Carea Façade, Westlake Corporation, Swisspearl Group

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Global Cladding Systems Industry Recent Development:

2023: Westlake Corporation signed an agreement with Boral Industries Inc., a wholly owned subsidiary of Boral Limited, under which Westlake acquired Boral's North American building products cladding businesses in roofing, siding, trim, and shutters, decorative stone, and windows.
2023: Etex acquired Superglass, a UK-based insulation producer. Through this agreement, Etex expands its European reach in sustainable insulation, complementing its existing presence as a manufacturer of glass mineral wool and extruded polystyrene through URSA.

What are the growth Opportunity driving the Global Cladding Systems Market?

Sustainable & Energy-Efficient Cladding Material to Thrive Future Market Scope – The energy-efficient façade cladding is thriving in the marketplace with modern façade design patterns. Modern cladding materials incorporate insulation properties that contribute to energy efficiency in buildings. This aligns with the growing focus on sustainable and green building practices. The green building materials include sustainable claddings. Developing standardized metrics for energy efficiency and sustainability in cladding materials presents an opportunity for market leaders.

Stringent building codes and environmental regulations in many countries are pushing the adoption of sustainable and high-performance cladding materials that meet fire safety and other standards. Europe is leading in sustainable building practices, with stringent regulations driving adoption. The European green building materials are based on the standards of the EU's Energy Performance of Buildings Directive which aims for all new buildings to be nearly zero-energy by 2030. Moreover, a study by the US Green Building Council found that green buildings see an average of 20% lower operating costs over five years. Thus, the global shift towards sustainable and energy-efficient cladding materials is indeed shaping the future of the construction and architectural industries.

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Key Advantages of the Report by MarkNtel Advisors:

Accurate Revenue Projections: The report provides precise revenue estimates for the market and its key subsegments, benefiting both market leaders and new entrants.

Strategic Insights for Stakeholders: By understanding the competitive landscape, stakeholders can strategically position their businesses and develop effective go-to-market strategies.

Comprehensive Market Dynamics Analysis: The report offers valuable insights into the key drivers, restraints, challenges, and opportunities within the market, helping stakeholders make well-informed decisions.

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