According to a report published by Grand View Research, Inc.; the rainscreen cladding market is expected to reach a valuation of around USD 14.0 billion by 2024.
Increasing construction activities, growing demand for energy-efficient construction and protection of exterior wall, and rise in demand for environmental friendly buildings can propel the market during the forecast period (2018 to 2024). In addition, increasing promotion by International Energy Agency and World Green Building Council is also supporting the market growth.
Increasing need about protecting building exteriors for extending the lifespan of newly constructive buildings as well as removed building has increased the demand for attractive and functional materials across the world. Increasing technological advancements has lead the development of new high-performance durable cladding materials such as unique facade and panels. These improved materials comprise greater moisture management properties and are extensively popular across the interior designers and contemporary architects. In addition, innovative wall system built with high-tech materials offers several opportunities and captivating solutions to architects, contractors, and developers who are looking forward to solving rain penetration issues along with betterment of overall wall performance.
Full Research Report On Rainscreen Cladding Market Analysis: www.grandviewresearch.com/industry-analysis/rainscreen-cladding-market
Worldwide rainscreen cladding market can be segmented on the basis of raw material, application, and region. Based on raw material, the market can be categorized into fiber cement, metal, composite material, high pressure laminates, ceramic, terracotta, and others. As per application, the market can be bifurcated into residential, offices, commercial, institutional, and industrial.
Growing spending on affordable housing schemes in emerging countries of Asia Pacific and Latin America expected to spur residential segment. This segment is expected to grow at a CAGR of 6.8% during the study period.
Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific is expected to show significant growth in the coming years on account of growing construction industry in the region especially in emerging countries such as China, Vietnam, Indonesia, and India. Factors such as rise in population in these countries along with increasing demand for affordable housing and presence of government schemes regarding energy efficiencies can drive the market in this region. Energy-efficient buildings minimizes the amount of resources require for air conditioning (HVAC), ventilating, heating. In addition, easy availability of raw material and less set-up cost are the key factors attracting international companies to set-up their facilities in this region. This has help to introduced technologically advanced wall systems in this region.
Browse More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/hvac-and-construction-technologies
North America is expected to expend on account of ongoing construction activities, shale gas exploration efforts in the Gulf Coast region, and development of new power plants. The region is expected to show high demand in residential construction. Growing employment rates in this region are expected to create more demand for residential projects. The U.S. observed the highest construction rate in the recent years.
Latin America shows mixed dynamics as Brazil has stuffed from deepest economic contraction in recent years. However favorable external market conditions are expected to create stability in the region. Also, implementation of monetary policy normalization initiatives by the governments in this region for aligning domestic inflation is expected to create positive outlook in this region. In addition, ongoing infrastructural developments in Mexico and policy continuities in Peru will support the growth in this region.
In Europe, Central and Eastern European countries are likely to show high growth. Factors like presence of low interest rates and improvement in disposable income along with European Commission’s Investment Plans are expected to create positive outlook for the construction sector in this region.
In Middle East & Africa, construction sector is expected to expand owing to implementation of supportive government policies, growing investments in various sectors including healthcare, education, and infrastructure to reduce dependency on oil activities across the region. Moreover, Introduction of the White Land Tax initiative by the Saudi Arabian government to solve the housing shortage is expected to support the market growth.
Prominent players operating in the market include Shildan, Inc.; Cladding Corp.; BMC Gulf; Allied Building Products Corp.; and Vivalda.
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
Country: United States