Cladding Systems Global Market Report 2024

Cladding, covering a building's exterior with different materials, serves protective and architectural functions, shielding the structure and enhancing aesthetics.

Cladding systems utilize materials such as steel, aluminum, zinc, copper, and plastic panels. Steel cladding systems involve covering a building's exterior with various panel materials. These systems serve to safeguard a building's appearance and provide thermal insulation. The primary applications for cladding systems are seen in walls and roofs, commonly employed in both residential and non-residential constructions to enhance structural aesthetics and insulation.

The cladding systems market research report is one of a series of new reports from The Business Research Company that provides cladding systems market statistics, including cladding systems industry global market size, regional shares, competitors with a cladding systems market share, detailed cladding systems market segments, market trends and opportunities, and any further data you may need to thrive in the cladding systems industry. This cladding systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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%. Historical growth can be attributed to a construction boom, urbanization trends, a focus on energy efficiency, requirements for weather protection, adherence to regulatory standards, and the emphasis on renovation and retrofitting of structures.

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%. Anticipated growth in the upcoming period is tied to the adoption of sustainable construction practices, integration of smart building technologies, population growth, considerations for cultural and regional preferences, and initiatives promoting affordable housing. Major trends expected in this forecast period encompass the digitalization of construction processes, the incorporation of smart cladding technologies, advancements in lightweight and high-strength materials, the development of fire-resistant cladding solutions, the utilization of modular cladding systems, and the emergence of dynamic and kinetic cladding designs.

The burgeoning construction of both residential and commercial structures stands as a direct catalyst propelling the expansion of the cladding systems market. With an upsurge in upscale apartments, houses, and towering edifices particularly in emerging economies, there's a concurrent surge in diverse construction materials being employed. Builders increasingly opt for cladding systems to confer thermal insulation, weather durability, and aesthetic enhancement to these structures. Projections from the Global Construction 2030 report indicate a remarkable surge, foreseeing a staggering 85% growth in construction output, expected to reach $15.5 trillion by 2030. Notably, pivotal contributors to this surge include prominent nations such as China, India, and the USA. This exponential upswing in the construction sector is anticipated to serve as a pivotal driver for the cladding systems market moving ahead.

The escalating demand for energy is anticipated to serve as a driving force behind the expansion of the cladding systems market in the foreseeable future. Energy, in this context, denotes the power sources essential for operating machinery, equipment, or tools required for various purposes including repairs. Cladding systems consume energy across their lifecycle-from manufacturing and transportation to installation and long-term performance of materials such as concrete, aluminum, and steel. Their aim is to curtail the necessity for artificial heating or cooling within structures. For instance, data from the Energy Information Administration in April 2023 highlighted a projected increase in energy usage within the US industrial sector, expected to surge by 5% to 32% between 2022 and 2050. This heightened demand for energy stands as a significant impetus behind the upward trajectory of the cladding systems market.

The growing trend within the cladding systems market revolves around eco-preferred materials, which are garnering increased attention and market share. Companies are prioritizing the development of these environmentally friendly cladding materials to meet rising consumer concerns. Timber cladding, among these eco-preferred options, stands out for its exceptional properties. It serves as an effective sound and heat insulator, outperforming common alternatives such as concrete, aluminum, and steel in heat retention. This insulation quality plays a pivotal role in enhancing the energy efficiency of buildings. Additionally, timber cladding represents a truly renewable resource, generating zero waste. For instance, in 2021, Fiberon introduced the Wildwood composite cladding, showcasing the beauty and warmth of wood while ensuring durability through high-performance, low-maintenance materials.

Major players within the cladding systems market are actively pursuing strategies to attain a competitive advantage. Among the various building materials utilized for exterior coverage, aluminum cladding panels play a significant role by safeguarding structures against environmental elements while augmenting their aesthetic appeal. An illustration of this is Sculptform, an Australia-based company specializing in interior and exterior manufacturing products, which introduced aluminum click-on battens designed for use with aluminum cladding panels in June 2021. These battens employ a click-on installation method, constituting a facade cladding system for both exterior and interior applications in diverse buildings. Available in an array of sizes, shapes, and colors, click-on battens cater to distinct design preferences, proving popular in residential and commercial settings. They serve as a primary cladding system or embellishment for walls, ceilings, or soffits. The installation process involves affixing clips to the substrate and securing the battens effortlessly through a straightforward locking mechanism.

In May 2021, Taylor Maxwell, a UK-based provider of timber and composite decking, successfully acquired SBS Cladding Ltd for an undisclosed sum. This strategic move provided Taylor Maxwell with an expanded range of products and services that synergize with its existing cladding portfolio. This acquisition not only broadened Taylor Maxwell's offerings but also positioned the company to undertake new projects effectively. SBS Cladding Ltd., based in England, specializes in distributing and fabricating decorative rain-screen cladding, insulation, and firebreaks, aligning closely with Taylor Maxwell's expertise and enhancing its overall capabilities in the market.

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

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.

The countries covered in the cladding systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cladding systems market includes revenues earned by entities by lightweight timber framing and cladding layers . The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Cladding Systems Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on cladding systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for cladding systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cladding systems market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Material: Steel; Aluminum; Zinc; Copper; Plastic Panels
• 2) By Application: Walls; Roofs
• 3) By End User: Residential Buildings; Non-Residential Buildings
• Companies Mentioned: Mitsui & Co. Ltd.; Itochu Corporation; Marubeni Corporation; Toyota Tsusho Corporation; Compagnie de Saint-Gobain S.A.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.