U.S. rainscreen cladding market size is expected to reach USD 42.6 billion by 2025
NEW YORK, Feb. 18, 2019 /PRNewswire/ --
U.S. Rainscreen Cladding Market Size, Share & Trends Analysis Report By Raw Material (Composite Material, Terracotta), By Application (Residential, Commercial, Office), And Segment Forecasts, 2019 - 2025
Read the full report: https://www.reportlinker.com/p05741350
U.S. rainscreen cladding market size is expected to reach USD 42.6 billion by 2025, according to a new report by Grand View Research, Inc., registering a 6.5% CAGR during the forecast period. Increase in residential and non-residential renovations, coupled with rise in construction activities, is expected to boost industry growth over the forecast period.
The industry is characterized by ongoing developments in technology to produce advanced products used in construction and other industrial applications. Manufacturers of rainscreen cladding focus on procurement of high-quality raw materials and are involved in the production of innovative products with designs and structures that are easier to assemble.
Fluctuating raw material prices result in variation in production cost of cladding components, thus affecting profit margins of companies across the value chain. Manufacturers in the industry resort to mass production in order to minimize the impact of dynamic price changes in the economy.
U.S. industry is highly competitive on account of intensive product and price differentiation. Players try to expand their consumer base by improving the durability, aesthetics, and energy efficiency of the product. The industry is expected to witness an upward trend of mergers and acquisitions of players to strengthen their position in the domestic and international market.
Further key findings from the report suggest:
• Based on raw material, terracotta dominates the U.S. rainscreen cladding industry in terms of revenue, accounting for 35.0% of the total volume in 2017. This can be attributed to increasing product penetration on account of its superior fireproof and waterproof properties
• By application, office construction accounted for the largest share, exhibiting a CAGR of 6.1% in terms of volume from 2018 to 2025. This is due to increasing investments in working spaces to improve aesthetic appeal and provide safety against harsh weather conditions
• Single family construction application is estimated to expand at a CAGR of 7.1% in terms of revenue from 2018 to 2025. This is on account of rising awareness regarding product benefits in terms of energy efficiency and safety
• The industry exhibits extensive integration across the value chain to achieve optimum business growth. Industry players have been adhering to standards set by regulatory bodies and governments for manufacturing rainscreen cladding components in order to sustain the competition.
Read the full report: https://www.reportlinker.com/p05741350
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article