The global rainscreen cladding market size is expected to reach USD 183.34 billion by 2025
NEW YORK, Feb. 18, 2019 /PRNewswire/ --
Rainscreen Cladding Market Size, Share & Trends Analysis Report By Raw Material, By Application (Residential, Commercial, Official, Institutional, Industrial), By Region, And Segment Forecasts, 2019 - 2025
Read the full report: https://www.reportlinker.com/p05741355
The global rainscreen cladding market size is expected to reach USD 183.34 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 6.6% over the forecast period. Growing demand for durable building exteriors that can offer protection against rainwater and high-pressure wind, is expected to drive the market.
Rainwater cladding systems offer the most effective solution for enhanced moisture management and energy-efficient thermal insulation for buildings. Changing construction industry trends to incorporate sustainable environment-friendly solutions with minimal energy usage and product wastage is expected to drive growth over the projected period.
The market is highly competitive on account of product variation by a significant number of players primarily concentrated in North America and Europe. These regions witness higher product penetration as compared to the Asia Pacific, on account of stringent government regulations and increased consumer spending capabilities and awareness regarding benefits of rainscreen cladding.
The users select rainscreen panel on the basis of pricing, design, and durability.The recent fire mishaps including the Grenfell tower in London and Torch Tower in Dubai in 2017, impacted the industry trends.
As a result, the manufacturers are expected to invest in R&D to meet the desired properties and standards to gain market share.
The rainscreen cladding market is governed by stringent regulations, such as the British Standard BS 8414, which aids in determining fire performance characteristics and classification of external walls structures. It also offers a testing method for evaluating the fire non-loadbearing outdoor cladding systems applied to the building face and is now being adopted by other countries including Australia.
Further key findings from the report suggest:
• Metal product segment accounted for 14.7% of the overall market in 2017 and is expected to register a significant CAGR. Increased product penetration for aluminum cladding in construction industry, owing to its beneficial properties, such as recyclability, lightweight, resistance to algae and fungi, and easy installation are projected to bode well for segment growth
• Demand for terracotta panels is expected to expand at a CAGR of 7.0% over the forecast period, owing to durability, resistance to ultraviolet radiation, recyclability, fast and easy installation, and weatherproof and fireproof properties of these panels
• Europe held the leading market share of 32.2% in 2017, on account of early product penetration, high consumer awareness, and stringent regulatory framework in the region
• Growth of rainscreen cladding market in North America is attributed to increasing demand from the residential sector, extensively developed manufacturing industry, and government initiatives to develop social infrastructure
• Office construction segment is expected to register the highest demand during the projected period owing to rising employment and regional expansion of existing companies requiring construction of new office spaces
• Key market players include Dow Building Solutions, Kingspan Insulation, Rockwool International, and Lakesmere International Ltd. Integrations, development of new technologies in manufacturing and installation practices, and introduction of innovative designs, are likely to be the key factors defining success for the market players
Read the full report: https://www.reportlinker.com/p05741355
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