Cladding Systems Market 2024 - By Size, Share Analysis, Growth Trends And Forecasts To 2033
Global cladding systems market size is expected to reach $331.93 Bn by 2028 at a rate of 5.1%, segmented as by material, steel, aluminum, zinc, copper, plastic panels
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Overview and Scope
Cladding is a process where the exterior of a building is covered with panels of a different material. The cladding systems are used for constructing buildings. Cladding is primarily adapted in construction for its function like protecting the exterior and the frame of the building. Indirectly, cladding systems protect the interior of architectural construction.
Sizing and Forecast
The cladding systems market size has grown strongly in recent years. It will grow from $256.99 billion in 2023 to $271.75 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to construction boom, urbanization, energy efficiency, weather protection, regulatory requirements, renovation and retrofitting.
The cladding systems market size is expected to see strong growth in the next few years. It will grow to $331.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to sustainable construction practices, smart building integration, population growth, cultural and regional preferences, affordable housing initiatives. Major trends in the forecast period include digitalization in construction, integration of smart cladding technologies, lightweight and high-strength materials, fire-resistant cladding solutions, modular cladding systems, dynamic and kinetic cladding designs.
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Segmentation & Regional Insights
The cladding systems market covered in this report is segmented –
1) By Material: Steel, Aluminum, Zinc, Copper, Plastic Panels
2) By Application: Walls, Roofs
3) By End User: Residential Buildings, Non-Residential Buildings
Asia-Pacific was the largest region in the cladding systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cladding systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growth in the construction of new residential and commercial buildings is directly driving the growth of the cladding systems market. The rise in high-end apartments, houses, and skyscrapers in developing countries is driving the growth of various materials used for constructing the building. To provide thermal insulation, and weather resistance, and to improve the appearance of buildings many builders are using cladding systems. According to the Global Construction 2030 report, the volume of construction output is expected to grow by 85% to $15.5 trillion by 2030. Major countries contributing to this growth are China, India and the USA. This rise in the construction market is expected to drive the cladding systems market going forward.
Key Industry Players
Major companies operating in the cladding systems market report are Mitsui & Co. Ltd., Itochu Corporation, Marubeni Corporation, Toyota Tsusho Corporation, Compagnie de Saint-Gobain S.A., Sumitomo Corporation, Nippon Steel & Sumitomo Metal Corporation, JFE Steel Corporation, Tata Steel Limited, Hindalco Industries Limited, Sojitz Corporation, Kobe Steel Ltd., Westlake Chemical Corporation, Cold Steel Corporation (Taiwan), DuPont de Nemours Inc., Alcoa Corporation, Alubond USA Inc., Kingspan Group plc, Etex Group, James Hardie Industries plc, Boral Limited, Arconic Corporation, CSR Limited, Nichiha Corporation, Kajaria Ceramics Limited, Glen-Gery Corporation, Greenlam Industries Limited, Glittek Granites, FunderMax GmbH, Axiall Corporation
The cladding systems market report table of contents includes:
1. Executive Summary
2. Cladding Systems Market Characteristics
3. Cladding Systems Market Trends And Strategies
4. Cladding Systems Market - Macro Economic Scenario
5. Global Cladding Systems Market Size and Growth
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32. Global Cladding Systems Market Competitive Benchmarking
33. Global Cladding Systems Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cladding Systems Market
35. Cladding Systems Market Future Outlook and Potential Analysis
36. Appendix
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