The market for cladding systems is anticipated to develop at a 6 % CAGR in the course of the forecast period.
The diversification in the forms and materials used in the production for cladding systems are increasing the product range of the cladding system market size. The enhancements in the design and performance criteria of cladding systems are creating favorable growth traction for the market. Moreover, the need to have robust building envelopes is anticipated to boost the progress of the market in the coming years.
The segmental analysis of the cladding system market is carried out on the basis of materials, components, application, and region. On the basis of materials, the cladding system market is segmented into metal, wood, vinyl, brick & stone and others. Based on components, the cladding system market is segmented into doors, window, roof light, wall, vent, and others. By application, the cladding system market is segmented into non-residential and residential. The regions included in the cladding system market are Asia Pacific, North America, Europe and the rest of the world.
Detailed Regional Analysis
The regional analysis of the cladding system market comprises of regions such as Asia Pacific, North America, Europe and the rest of the world. The North American region is dominating the cladding system market due to the willingness of firms in the region who are taking up capital intensive projects, along with the availability of the skilled laborers in the region. Moreover, the Asia Pacific region is anticipated to flourish at a substantial pace throughout the forecast period due to the speedy growth in the construction sector.
The competitors are proactively addressing the challenges to growth and are crafting strategies that can have the best overall effect on the market's progress. The competitive outlook for the market is expected to diversify significantly in the coming period. The developments in the market are expected to be fuelled by the rise in investments and product innovations. The market leaders are taking an interest in the creation of strong value chains that can yield increased profits. The opportunities for growth in the market have ample scope for development in the forecast period. The market challengers find themselves in a promising position with the capacity to handle the pace of change. The perceived tendency for the market’s growth has increased following the availability of positive factors in the market.
The significant competitors functioning in the cladding system market are Nichiha Corporation, Etex Group, James Hardie Industries Plc., Boral Ltd, Cembrit Holding A/S, Axiall Corporation, Tata Steel Ltd, Alcoa Inc., CSR Ltd., and Compagnie de Saint Gobain SA.
Feb 2019 Fairview has announced the launch of Vitrashield, an assortment of completely tested EW (External Wall) Classified, AS5113 compliant cladding systems. Fairview’s newest façade solution has been introduced with three standard wall build-up systems that have received EW classification following extensive full-scale testing. Vitrashield’s unveiling denotes the company’s development from exclusively selling external cladding panels to providing a range of fully tested, EW Classified cladding systems.
Feb 2019 Smith-Midland Corporation, which is a PCI Mid-Atlantic producer member, lately announced they were chosen to produce and install their SlenderWall envelope system for the new 800 Harbor Boulevard project at Lincoln Harbor in New Jersey, USA. SlenderWall is an easi-set global licensed product that is a unique composite cladding system.