Global Cladding Market By Product (Composite Materials, Terracotta, Steel, and Other Products), By Application (Offices, Commercial, Residential, Industrial, Institutional, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Cladding Market Overview:

The global cladding industry was valued at USD 219,580 million in 2021. This market is expected to expand at a 7.77% compound annual growth rate between 2023-2032.

Global construction activity is expected to increase, along with the demand for energy-efficient buildings. This will drive the global cladding market. The economic slowdown caused by the COVID-19 crisis has slowed global construction’s growth. This has led to a drop in investor confidence and a decrease in construction activities.

As a result, the cladding industry also experienced a significant setback. The gradual economic recovery will lead to moderate growth and higher business confidence. However, this market is likely to experience modest growth in the future.

Global Cladding Market Analysis

Product Analysis

The market leader was terracotta in the products segment at 35%. This is due to the product’s durability, recyclability resistance to UV radiation, weatherproof & flameproof, and quick & simple installation. These panels are continuous insulation that extends beyond the primary walls and enhances a building’s thermal performance.

Fiber cement-based cladding will see high demand due to its cost-effectiveness, durability, and low maintenance. It is made using cement, water, and cellulose fiber. These panels are increasingly popular in the cladding marketplace because they are weatherproof, can resist high-pressure winds, and can withstand rainwater.

Because of its lightweight, recyclability, and ease of use, aluminum cladding is increasingly in demand in the construction industry. These panels are used to improve the aesthetic appeal and fire resistance of buildings. Ceramic cladding is expected to grow because of its aesthetic appeal and low maintenance. They are made using a consistent color that is weatherproof.

Application Analysis

The office construction segment includes working spaces that include government offices and private offices. Claddings are used to add aesthetic appeal and thermal insulation to these buildings.
As a result, residential construction is likely to experience a rise in cladding requirements due to growing awareness of energy-efficient structures, the need to renovate old buildings, an increase in over-cladding operations, as well as government mandates for green buildings.

Industrial expansion is projected to accelerate and increase private and public sector investment will promote the industry’s growth. Demand for the industrial building is being driven by multinational businesses’ expansion and new manufacturing plants. These factors will fuel the demand for industrial claddings. The commercial construction sector includes buildings for hypermarkets. The increasing urbanization, as well as government investments in tourism construction and commercial construction, will drive demand for claddings.

Key Market Segments

By Product

• Composite Materials
• Terracotta
• Steel
• Fiber Cement
• Ceramic
• Aluminum
• Other Products

By Application

• Offices
• Commercial
• Residential
• Industrial
• Institutional
• Other Applications

Market Dynamics

COVID-19 had a negative and significant impact on the U.S. building sector. Project development was hampered by government restrictions to stop the spread and effects of the virus. This also negatively affected supply chains, factories, material, labor, and equipment. This downturn adversely affected the growth in the construction sector and impeded the growth of the cladding industry.

Due to the expansion in the U.S. construction sector, the market for U.S. Cladding is expected to see sustainable growth during the forecast period. The product increases the energy efficiency of structures, which leads to lower energy requirements for heating, ventilation, and air conditioning.

Market growth is primarily driven by the increased demand for energy-efficient construction solutions.
In the forecast period, cladding product demand will be positively affected by the expected increase in construction spending in emerging countries due to increased population growth and strong economic development. Following its recovery, the global market for construction is expected to continue growing.

Cladding is highly competitive in terms of price, product differentiation, and quality. To improve their market position in domestic and global markets, the market players will be focusing on product quality, including aesthetic appeal, durability, and energy efficiency.

Regional Analysis

The Asia Pacific dominated the market and held more than 35% of the global revenue for 2021. This is due to increasing per capita income, rapid urbanization, growing population, and rising construction activities in emerging economies such as China, India, and Japan.

The North American cladding industry is expected to expand significantly during the forecast period. This is due to increased demand from the residential market and government initiatives to improve social infrastructure in Canada and the U.S. Market growth is also supported by a growing awareness of the many benefits of weather protection in buildings.

Europe’s growth in commercial construction activities is expected to drive up demand for claddings over the next few years. In the forecast period, the demand for claddings is expected to rise due to the increasing use of cladding to enhance the aesthetic appeal.

The forecast period will see the construction sector in Middle East & Africa experience a rebound due to factors such as an increase in investments, expansion in oil production, and improved weather conditions. These factors are expected to drive the demand for cladding.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Manufacturers, distributors, and installers are the major players in the cladding marketplace. They sell various components of the complete cladding structure. In order to meet construction demand, market players are involved with the procurement and distribution of metal frameworks, panels or façades, and insulation sheet.

Modern manufacturing processes and technical innovations have enabled components to be manufactured with high durability, custom colors, and low maintenance. The introduction of interlocking panels, as well as quick and easy installation methods with high-quality fastening equipment, have fueled market competition around the world. International and domestic players are working together to gain a competitive edge.

Key Market Players

• Kingspan Group
• Cladding Corp
• Rieger Architectural Products
• SFS Group
• OmniMax International, Inc.
• GB Architectural Cladding Products Ltd
• Carea Group
• CGL Systems Ltd.
• Other Key Players

For the Cladding Market research study, the following years have been considered to estimate the market size: