CHICAGO, July 27, 2023 /PRNewswire/ -- The report "Cladding Systems Market by Material (Ceramic, Wood, Brick & Stone, Vinyl, Stucco & EIFS, Metal, Fiber Cement), Type, Application (Residential, Non-Residential), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2028", 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.
In many urban areas, there is a need for redeveloping existing buildings to meet modern standards and improve energy efficiency. Cladding systems offer a practical solution for retrofitting projects, allowing the transformation of old structures into visually appealing, well-insulated, and sustainable buildings. The increasing focus on urban renewal and retrofitting initiatives contributes to the growth of the cladding systems market.
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142 – Tables
37 – Figures
162 – Pages
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By material, Stucco & EIFS account for the fastest growing material during the forecast period
EIFS, in particular is known for its excellent thermal insulation capabilities. By incorporating insulation materials within the system, EIFS can enhance the energy efficiency of buildings, reducing heat transfer and improving overall thermal performance. This can lead to energy savings and improved indoor comfort, making EIFS an attractive choice for projects aiming for energy efficiency certifications or compliance with stricter building codes. Stucco and EIFS systems are highly durable, with the ability to withstand various weather conditions, including heat, cold, and moisture. When properly installed and maintained, they can offer long-term protection to the underlying structure. Additionally, these materials typically require minimal maintenance, which is a desirable characteristic for building owners and managers.
The walls is expected to experience significant growth at a rapid rate during the forecast period
While roofs are also an important part of the cladding system market, the faster growth of wall cladding can be attributed to factors such as aesthetic considerations, energy efficiency requirements, building envelope protection, retrofitting projects, and technological advancements. These factors collectively contribute to the increasing demand for wall cladding solutions in the construction industry.
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Europe to be the second-largest market during the forecast period.
Europe has stringent building regulations and energy efficiency standards aimed at reducing energy consumption, carbon emissions, and improving sustainability. Cladding systems play a crucial role in meeting these requirements by providing insulation, weather protection, and energy-efficient solutions. The emphasis on sustainable construction practices has propelled the demand for cladding systems in the European market.
Market Players
The leading players in the cladding systems market are 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.
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