According to the report by Expert Market Research (EMR), the global cladding market is projected to grow at a CAGR of 5.3% between 2024 and 2032. Aided by the innovations in the cladding material, along with the energy efficient properties, the market is expected to grow significantly by 2032.
Cladding, a crucial element in modern construction, involves applying one material over another to provide a skin or layer intended to control the infiltration of weather elements, or for aesthetic purposes. Materials commonly used for cladding include wood, metal, brick, vinyl, and composite materials that can include aluminium, wood, blends of cement and recycled polystyrene, wheat/rice straw fibres.
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The cladding market growth is primarily driven by the booming construction industry worldwide. As urbanisation and industrialisation continue to surge, especially in emerging economies, there is an increased demand for new constructions, be it residential, commercial, or industrial, all of which require cladding materials. This surge is further supported by the growing inclination towards sustainable and energy-efficient buildings.
Cladding materials are not only chosen for their aesthetic appeal but also for their functionality. They play a vital role in enhancing energy efficiency by providing additional insulation, thereby reducing the energy costs associated with heating and cooling buildings. This aspect is particularly crucial in the context of rising energy costs and the global push for sustainability.
The innovations in cladding materials and technology are also driving the cladding market demand. The development of advanced materials that are durable, lightweight, and offer better insulation properties is attracting significant interest from architects and builders. Moreover, the trend towards green construction has led to the increased use of eco-friendly materials in cladding, which is expected to further boost the market growth.
In the North American and European markets, there is a strong trend towards the renovation of existing buildings, which is creating additional demand for cladding materials. The Asia Pacific region, led by countries like China and India, is witnessing rapid urbanisation and industrial growth, which is propelling the cladding market demand.
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Furthermore, the market is also witnessing a shift towards the adoption of smart technologies. The integration of smart technology in cladding systems, such as the use of sensors and IoT (Internet of Things) for monitoring and maintaining the health of the building, is an emerging trend. This not only enhances the functionality of cladding systems but also aligns with the global movement towards smart cities and buildings.
Cladding Market Segmentation
The market can be divided based on product type, application, and region.
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
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global cladding market. Some of the major players explored in the report by Expert Market Research are as follows:
- Kingspan Insulated Panels, Inc.
- GB Architectural Cladding Products Ltd.
- Carea Ltd.
- CGL Systems Ltd.
- Rockwool International A/S
- Others
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