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Global Cladding Market to Grow at a CAGR of 6% During 2021-2026, Driven by the Increasing Infrastructure and Construction Activities

According to a new report by EMR titled, ‘Global Cladding Market Report and Forecast 2021-2026’, the market attained a value of about USD 235 billion in 2020. The industry is further expected to grow at a CAGR of around 6% in the forecast period of 2021-2026.

Demand for improved moisture management and energy efficiency in project exteriors is increasing, especially among key construction industry participants such as architects and designers. The cladding industry growth is expected to be driven by a growing shift towards shielding exterior walls and the increased construction of non-residential buildings, such as offices and institutions, in both developed and emerging economies. The investments in lightweight and energy-efficient exterior panels in industrial and residential buildings are being encouraged by the implementation of stringent green building laws and codes such as LEED certification and others. The institutional segment is projected to expand due to increased investment in the construction of educational and healthcare facilities. Exterior walls in schools and colleges need low-cost thermal insulation and impact resistance, as well as regular repair and maintenance services, which are made easier by such panels.

The demand for educational, industrial, and official spaces is expected to increase in developing economies of the Asia Pacific and Latin America. The construction of advanced healthcare facilities and the growth of the medical tourism sector, especially in Asia, would drive up construction spending, further boosting the demand for façade panels. Some of the leading players in the industry are Arconic Corporation (NYSE: ARNC) and Compagnie de Saint Gobain SA (EPA: SGO).

Compagnie de Saint Gobain, commonly known as Saint-Gobain, is a French multinational company, which is known for its mirror and glass production primarily, as well as for their construction materials. The company recently invested in Brüggemann, a German company offering timber construction solutions. This is expected to positively impact their cladding scales of operation and technologies. This makes cladding a viable sector to invest in, for the forecast period, due to the long-term investments made by major companies.

Market Analysis by Material, Component, Application, and Region:

  • The market on the basis of material can be divided into aluminium, steel, wood, fibre cement, ceramic, terracotta, and composite materials, among others.
  • Based on component, the industry can be divided into walls, roofs, and windows and doors, among others.
  • The major applications of cladding include residential and non-residential.
  • The regional markets for cladding include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing infrastructure activities and the rising product demand in the construction industry, particularly North America, are driving the demand for cladding.
  • The increasing availability of low-cost manpower and raw materials and the growing technological advancements in developing economies like China and India are expected to help the cladding industry to grow in the forecast period. 
  • With rising consumer disposable income, the demand for environmentally-viable solutions as well as fire-proof, thermal resistant, water-resistant, and soundproof cladding has improved considerably, thus, contributing to the market growth.
  • The increasing global population and the rising demand for housing are expected to positively impact the growth of the cladding industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for cladding for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the materials, components, applications, and regions of cladding.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global cladding market are Arconic Corporation, Kingspan Group, GB Architectural Cladding Products Ltd., Compagnie de Saint Gobain SA, Middle East Insulation LLC, and Avenere Cladding LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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