Global Cladding Market Size, Trends, Growth, Analysis: By Product Type: Steel, Aluminium, Composite Materials, Fibre Cement, Terracotta, Ceramic, Others; By Application: Residential, Industrial, Commercial, Offices, Institutional; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Cladding Market Outlook

The global cladding market size is estimated to witness a healthy growth in the forecast period of 2024-2032, expanding at a CAGR of 5.30% to reach USD 159.50 billion by 2032.

Key Takeaways

• Smart cladding solutions that offer improved energy efficiency, environmental responsiveness, and integration with IoT devices are on the rise.

• Materials that are fire-resistant and comply with stringent fire safety regulations are a must for cladding products.

• There is a growing trend of consolidation within the cladding market as companies acquire others to expand their product portfolio.

Cladding is a non-loadbearing skin or covering affixed to the outside or inside of a building. Wood, metal, plastic (vinyl), brick, and a growing number of composite materials are commonly used as cladding. In addition, cladding helps to synchronise the outer and interior environments of a building and is performed according to the building's operational requirements.

The rapid growth of the construction sector around the world is one of the major factors driving the cladding market growth. This can be attributed to the increased demand for residential and non-residential infrastructure caused by the increasing global population. In addition, its high durability, and the ability to enhance the visual appeal of buildings are also predicted to propel the demand for cladding.

Moreover, the growing need for improved moisture management, fire resistance, thermal resistance, waterproofing, acoustic cladding systems, and energy efficiency in building structures as well as the growing tendency towards protecting exterior walls across the globe are anticipated to add to the cladding market value. At the same time, the governments are also making investments in the production of lightweight and energy-efficient exterior panels for the construction of commercial buildings.

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Key Trends and Developments

Growing usage of sustainable materials; aesthetic and design flexibility; growth of prefabrication and modular construction; and increased technological integration are the major trends impacting the cladding market

Jan 30th, 2024

Nichiha USA, based in Johns Creek, Georgia, announced the debut of new cladding colours and designs at the NAHB International Builders' Show.

Jan 30th, 2024

Vivalda Group has introduced MetSkin, a solid aluminium cladding system which is targeted for residential high-rise or municipal projects.

Jan 22nd, 2024

Brickability's acquisition of Topek Southern Ltd (TSL) in a deal worth up to £48 million signifies a strategic move to expand and strengthen its position in the cladding and roofing sector.

Jul 26th, 2023

The Cladding Safety Scheme (CSS) designed to provide financial assistance for the remediation of unsafe cladding on residential buildings was made accessible for eligible buildings taller than 11 meters located outside of London.

Growing usage of sustainable and eco-friendly materials

There is a growing demand for cladding materials that are sustainable, recyclable, and have a low environmental impact due to stricter environmental regulations.

Aesthetic and design flexibility through cladding solution

Architects and builders are seeking cladding solutions that offer a wide range of textures, colours, and finishes, allowing for creative and unique building designs.

Growth of prefabrication and modular construction

Prefabricated cladding panels that can be easily installed on-site are becoming more popular and this trend aligns with the broader move towards modular construction methods.

Increased technological integration into cladding for smart solutions

Smart cladding systems that can adapt to environmental conditions, such as responsive façades that change according to sunlight, temperature, or wind, are gaining traction.

One of the prominent trends in the cladding market is the growing demand for sustainable, recyclable, and low-impact cladding materials. Governments worldwide are implementing stricter regulations to reduce the environmental footprint of the construction sector, one of the largest contributors to global carbon emissions. These regulations often mandate the use of materials with lower carbon footprints, higher energy efficiency, and reduced waste. Cladding materials are a significant part of these considerations, as the exterior envelope of a building plays a crucial role in its overall environmental impact.

In January 2024, Nichiha USA, a cladding manufacturer based in Georgia, announced the debut of new cladding colours and designs at NAHB (National Association of Home Builders) International Builders' Show. The introduction of new colours and designs in cladding by Nichiha USA signifies the company's commitment to innovation and meeting the evolving aesthetic and functional needs of the construction sector, as such innovations can support new trends in building design and offer architects and builders more options to fulfil their creative and practical objectives.

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Market Segmentation

“Cladding Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Steel

• Aluminium

• Composite Materials

• Fibre Cement

• Terracotta

• Ceramic

• Others

Market Breakup by Application

• Residential

• Industrial

• Commercial

• Offices

• Institutional

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Ceramic maintains its dominance in the market due to its numerous favourable characteristics

The ceramic cladding segment is expected to hold a significant cladding market share. The favourable characteristics of ceramic panels such as their hygienic composition, ease of cleaning, resistance to external weather conditions, and low maintenance requirements are anticipated to propel the market growth in the coming years. In addition, the material is also non-flammable and scratch-resistant, which is expected to increase its popularity in domestic applications.  Moreover, the leading manufacturers are increasingly utilising advanced innovations such as exterior insulation finishing systems (EIFS) to improve the effectiveness of cladding systems, which is estimated to enhance the cladding market value in the coming years.

The terracotta segment is also expected to witness robust growth as it offers a natural, earthy, and timeless appearance and can be crafted in various colours, shapes, and sizes, offering architects and designers a high degree of flexibility in designing building facades. It is also known for its long-lasting properties. It can withstand harsh weather conditions, including heavy rain, high winds, and exposure to UV rays, without fading or deteriorating significantly over time.

Increasing applications in the office segment is supported by the demand for high-quality, visually appealing cladding to leave a lasting impression on clients as well as employees

The cladding market demand is also driven by the office segment which holds a significant share of the market due to a combination of factors including aesthetic, functional, and regulatory. Companies often use their office buildings as a physical representation of their brand as high-quality, visually appealing cladding can make a strong statement and leave a lasting impression on clients, employees, and the public. The choice of cladding material and design can reflect a company values, such as modernity, stability, or environmental responsibility. Office buildings are significant consumers of energy, primarily due to heating, ventilation, air conditioning (HVAC), and lighting and energy-efficient cladding materials can significantly reduce heat loss in winter and heat gain in summer, leading to lower energy consumption and costs.

The residential segment also commands a significant share of the market due to various factors that stem from the unique needs, preferences, and priorities of homeowners and residential property developers. Homeowners often desire a unique look for their homes, reflecting a personal style and increasing curb appeal, and cladding offers a wide range of materials, colours, textures, and styles, allowing for extensive customisation and distinctive design choices.

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Competitive Landscape

The market players are increasing their merger and acquisition (M&A) efforts to expand their operations and gain a competitive edge in the market

Kingspan Insulated Panels, Inc. is renowned for its advanced insulated panel systems and building envelope solutions. The company is a global leader in energy efficiency and sustainable building practices.

GB Architectural Cladding Products Ltd. specialises in architectural cladding and bespoke façade solutions. They are known for their innovation, design, and high-quality craftsmanship in the cladding sector.

Carea Ltd. is a specialist in the production of cladding and insulation solutions and is known for its focus on energy efficiency and sustainable building practices.

CGL Systems Ltd. specialises in metal cladding and rain-screen systems and is recognised for its technical expertise and innovative approach to exterior building solutions.

Several market players are increasing their merger and acquisition efforts acquisitions to expand and strengthen their position in the cladding and roofing sector. Through acquisitions, companies can diversify their product portfolio to include a wider range of cladding and roofing materials and solutions and this diversification helps in mitigating risks associated with market volatility and changing consumer preferences. It also enables companies to cater to a broader segment of the market.

As per the cladding market analysis, the Asia Pacific held a significant market share and is expected to witness continued growth in the forecast period. This can be attributed to the considerable demand for cladding in growing economies such as China and India, due to increasing disposable incomes and improved living standards of consumers. In addition, the increased availability of cost-effective raw materials and labour as well as rapid technological advancements are anticipated to drive the cladding market growth in the region. Furthermore, the rising demand for residential, commercial, and industrial infrastructure is likely to bolster the market growth in the forecast period.

North America has a wide range of climate zones, from the cold, arctic conditions in the north to the tropical climates in the south. This diversity demands cladding materials that can perform well under a broad spectrum of environmental conditions, including resistance to thermal expansion, moisture, UV radiation, and insulation properties. In many parts of North America, there is a strong emphasis on energy conservation as stringent regulations often require buildings to meet specific energy performance standards. As a result, the cladding market in North America is experiencing increased demand for materials that contribute to energy efficiency, such as insulated panels and cladding systems that offer superior thermal performance.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.