Cladding systems market dominated by residential & non-residential sectors, based on application of infrastructural and construction activities. Fiber cement is seen as a replacement for asbestos cement, which had carcinogenic effects on human health.
Cladding systems market is projected to grow from USD 555.9 billion in 2018 to USD 714.7 billion by 2023, at 5.16% CAGR to 2023. There are multiple types of cladding and cladding systems. It is quite difficult to distinguish them from one another, as there are many different materials that can be used for cladding systems. Installation of cladding systems can also be done using various methods.
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Cladding systems market is segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest share of the total demand generated by the global cladding systems market in 2015 because of the willingness of companies in the region to take up capital-intensive projects, along with the availability of technical expertise.
“Increase in infrastructural and construction activities are projected to drive the overall growth of the cladding systems market across the globe from 2018 to 2023.”
North America accounted for largest share of total demand generated by cladding systems market in 2015 because of willingness of companies in region to take up capital-intensive projects, along with the availability of technical expertise. The Asia-Pacific region is projected to be the fastest-growing market for cladding systems during the forecast period, owing to the rising economy and the rapid growth in the infrastructure sector.
Cladding systems market growing due to increasing infrastructure and construction activities. Rising per capita income of middle class has increased its purchasing power, which has resulted in an increase in the number of new constructions. Growth in construction industry throughout the world as well as government regulations regarding zero energy building codes have played a huge role in providing the necessary momentum to the cladding systems market after the economic slowdown.
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The cladding systems market is segmented on the basis of material, application, component, and region. On the basis of material, vinyl, the most widely used material for making cladding systems, accounted for the largest market share in 2015. It is a low-cost material and is readily available, which makes it one of the most widely used materials for cladding systems globally.
North America is projected to lead the cladding systems market from 2018 to 2023,due to the strong demand from countries such as the US and Canada. Demand is also driven by the willingness of companies in the region to take up capital-intensive projects, along with the availability of technical expertise. Strong government support further aids growth of the cladding systems market, as the demand for this market’s products will increase.
The various suppliers of cladding systems and related products in the report are as follows:
- Tata Steel Limited (India)
- Alcoa Inc. (U.S.)
- Etex Group (Belgium)
- James Hardie Industries PLC (Ireland)
- Compagnie de Saint Gobain SA (France)
- Boral Limited (Australia)
- Axiall Corporation (U.S.)
- CSR Limited (Australia)
- Nichiha Corporation (Japan)
- Cembrit Holding A/S (Denmark)
Get More Information on “Cladding Systems Market by Material (Wood, Brick & Stone, Vinyl, Stucco & EIFS, Metal, Fiber Cement), Component (Walls, Roofs, Windows & Doors), Function (Insulation, Air & Vapor Control, Precipitation Control), by Application – Forecast to 2021” research http://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=624763 .
The market study covers the cladding systems market across various segments. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the cladding systems market.
Key Benefits of Buying the Report
The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall cladding systems market and its segments and sub segments. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
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