Cladding Market: Office Construction Segment Led And Accounted For The Global Revenue Share

 Cladding Industry Overview

The global cladding market size was estimated at USD 210.41 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2022 to 2030. The global cladding market is expected to be driven by the increase in construction activities across the globe, coupled with the growing demand for energy-efficient buildings. The global construction industry is experiencing sluggish growth owing to the economic slowdown due to the COVID-19 crisis, which has resulted in poor investor confidence and a decline in construction activities, as a result, the cladding market also experienced a major setback. However, the market is expected to witness moderate growth in the coming years with the gradual economic recovery and improved business confidence.

COVID-19 had a significant and negative influence on the U.S. construction sector. The restrictions imposed by the government to contain the spread and effect of the virus have hampered project development and had a negative impact on supply chains, factories, equipment, materials, and labor. This downturn had adversely impacted the growth of the construction sector, thereby hindering the growth of the cladding market.

Gather more insights about the market drivers, restrains and growth of the Global Cladding market

 

The U.S. cladding market is expected to witness sustainable growth in the forecast period owing to the growth in the construction sector in the country. The product aids in increasing the energy efficiency of a structure, leading to a decrease in energy requirement for heating, ventilation, and air conditioning. Increased demand for energy-efficient construction solutions is one of the primary factors driving the market growth.

Increasing construction spending in developing countries owing to the population expansion and strong economic and industrial developments are expected to positively affect the demand for cladding products in the forecast period. The global construction market, following its recovery, is expected to witness steady growth. The cladding industry is highly competitive in terms of product differentiation, quality of claddings, and pricing. The market players focus on improving product quality in terms of durability, aesthetic appeal, and energy efficiency and are expected to undergo mergers and acquisitions in order to strengthen their position in domestic and international markets.


Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

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Cladding Market Segmentation

Grand View Research has segmented the cladding market report based on product, application, and region:

Cladding Product Outlook (Volume, Million Sq. Meters; Revenue, USD Million, 2017 - 2030)

  • Steel
  • Aluminum
  • Composite Materials
  • Fiber Cement
  • Terracotta
  • Ceramic
  • Others

Cladding Application Outlook (Volume, Million Sq. Meters; Revenue, USD Million, 2017 - 2030)

  • Residential
  • Industrial
  • Commercial
  • Offices
  • Institutional

Cladding Regional Outlook (Volume, Million Sq. Meters; Revenue, USD Million, 2017 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)


Key Companies profiled:
Some prominent players in the global cladding market include:

  • Kingspan Group
  • Carea Group
  • GB Architectural Cladding Products Ltd
  • Rieger Architectural Products
  • OmniMax International, Inc.
  • CGL Systems Ltd.
  • SFS Group
  • Cladding Corp
  • Centria
  • Trespa International B.V.
  • Middle East Insulation LLC  
  • Shildan, Inc.
  • Avenere Cladding LLC 


Order a free sample PDF of the Cladding Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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