LONDON, Jan. 10, 2017 /PRNewswire/ -- "Growing construction industry to drive the market for cladding systems across the globe"
The global market for cladding systems is projected to grow from USD 173.51 billion in 2016 to reach USD 242.84 billion by 2021, at an estimated CAGR of 6.95% from 2016 to 2021. Growth in the 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.
"Metal cladding systems to gain maximum traction during the forecast period"
The metal cladding systems segment is projected to be the fastest-growing segment in the cladding systems market in the next five years. Metal cladding is durable and aesthetically pleasing. It is also eco-friendly and can be fully recycled. Metal cladding is mainly used in non-residential buildings, particularly in industrial and commercial.
"North America accounted for the largest market share in 2015"
The market for cladding systems 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. 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.
Breakdown of primaries:
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of cladding systems. The distribution of primary interviews is as follows:
- By Company Type: Tier 1 – 50%, Tier 2 – 33%, Tier 3 – 17%
- By Designation: Director level – 50%, C level – 15%, Others – 35%
- By Region: Asia-Pacific – 47%, North America – 20%, Europe – 16%, RoW – 17%
The various suppliers of cladding systems and related products in the report are as follows:
1. Tata Steel Limited (India)
2. Alcoa Inc. (U.S.)
3. Etex Group (Belgium)
4. James Hardie Industries PLC (Ireland)
5. Compagnie de Saint Gobain SA (France)
6. Boral Limited (Australia)
7. Axiall Corporation (U.S.)
8. CSR Limited (Australia)
9. Nichiha Corporation (Japan)
10. Cembrit Holding A/S (Denmark)
REASONS TO BUY THE REPORT:
This report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the market for cladding systems comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. This report will help stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business.
Download the full report: https://www.reportbuyer.com/product/3990248/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cladding-systems-market-by-material-component-function-by-application---forecast-to-2021-300388685.html