The global rainscreen cladding market is poised for substantial growth, with a projected valuation of US$ 2,392 million in 2023. Based on prevailing trends, the market is expected to follow an average Compound Annual Growth Rate (CAGR) of 6.7% through 2033, ultimately reaching an estimated value of US$ 4,554 million by that year.
The market experienced moderate growth between 2018 and 2022, driven primarily by the increased construction activities, especially in non-residential sectors such as offices and commercial buildings. Aesthetic considerations and the imperative need for enhanced moisture control and energy efficiency in buildings have also played a significant role in contributing to the market’s expansion.
The remarkable growth in the global rainscreen cladding market can be attributed to various factors, including escalating construction expenditure, particularly in the non-residential sector where rainscreen cladding plays a pivotal role. Additionally, the burgeoning demand for architecturally appealing buildings, coupled with the upsurge in single- and multi-family construction projects driven by population growth, has further propelled the market’s expansion.
Don’t Miss a Chance to Stay Ahead of Your Competition, Request Our Sample Report Now: https://www.futuremarketinsights.com/reports/sample/rep-gb-15209
Driving Factors for Rainscreen Cladding Market Amid Challenges:
The growth of the rainscreen cladding market is expected to be propelled by increasing consumer demand for products that offer improved moisture control capabilities and energy efficiency. Additionally, both developed and emerging countries are witnessing a surge in the construction of non-residential structures such as offices and institutions, accompanied by a shift towards enhancing the protection of exterior walls. However, the economic downturn caused by the COVID-19 crisis has led to reduced investor confidence and a decline in industrial activities, posing challenges to the growth of the rainscreen cladding industry.
The demand for rainscreen cladding is rising due to evolving consumer preferences towards safeguarding exterior walls in residential, commercial, and non-residential structures, including workplaces and institutions.
A significant design flaw in rainscreen cladding solutions is their inability to handle air pressure gradients. When the exterior of the wall lacks airtightness, the cladding wall’s surface is exposed to strong wind forces. The confinement of airflow and moisture within wall cavity chambers, generated between furring strips, represents a major drawback in the conventional end-use application of rainscreen cladding. The lack of airflow exchange between these compartments is limiting the growth of the rainscreen cladding market.
Key Insights from the Market Study:
In 2021, the terracotta raw material segment held the largest share of the rainscreen cladding market, contributing over 35.5 percent of global revenue. The construction industry accounted for 33 percent of the total revenue in the rainscreen cladding market in 2021. Europe led the market in 2021, generating more than 30.5 percent of global revenue. In North America, the demand for rainscreen cladding is expected to witness significant growth during the forecast period due to increased construction of new power plants, social infrastructure, commercial projects, and shale gas exploration activities.
Competitive Landscape:
The rainscreen cladding market is characterized by strong competition, with numerous regional and international companies operating within the industry. Incumbent players face challenges stemming from fluctuations in raw material prices and the strategies of new entrants. Continued research and development, along with advanced process practices, are essential for survival in this competitive environment.
To remain competitive and reduce overall costs in the rainscreen cladding market, major competitors are focusing on mergers, acquisitions, and joint ventures. These players are offering structural planning and installation services to meet the demand for innovative rainscreen cladding solutions in various structures.
Gain Competitive Advantage and Beat Your Competitors! Buy Our Exclusive Report Now to Obtain In-Detailed Competitive Landscape. https://www.futuremarketinsights.com/checkout/15209
Recent Developments in the Rainscreen Cladding Market:
To cater to the demands of architects and specifiers seeking distinctive facade systems, Proteus Facades, a renowned supplier of high-quality rainscreen cladding systems, made its entry into the U.S. rainscreen cladding market in April 2021. This strategic expansion marks a new chapter for the company, known for its contribution to prominent construction projects in the UK. The decision to enter the U.S. market was prompted by significant investments in production capabilities and the growing demand for innovative facade designs.
In December 2021, Brickability Group made a noteworthy move by acquiring Taylor Maxwell Group for approximately US$ 87.77 million. Taylor Maxwell Group is a leading supplier of wood and facade solutions to the building industry in the UK. Through this acquisition, Brickability Group is poised to enhance its offerings by integrating timber and cladding into its portfolio. This strategic move not only widens the range of available products but also strengthens Brickability’s competitive advantage in specific markets, potentially paving the way for organic growth in the future.
Rainscreen Cladding Market by Segmentation:
By Raw Material:
- Fiber Cement
- Composite Material
- Metal
- High-pressure Laminates
- Terracotta
- Ceramic
- Others
By Application:
- Residential
- Commercial
- Official
- Institutional
- Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Your Market Advantage: Obtain Custom Reports Tailored To Amplify Success In Regional Segments. https://www.futuremarketinsights.com/customization-available/rep-gb-15209
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube