Dublin, Dec. 04, 2019 (GLOBE NEWSWIRE) -- The "Rainscreen Cladding Market by Material (Composite Materials, Metal, Fiber Cement, HPL), Construction (New Construction and Renovation), End-Use Sector (Non-residential and Residential), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The market for rainscreen cladding systems is projected to be valued at USD 14.3 billion by 2024. The market in the North American region is projected to grow at the second-highest CAGR of 7.5% during the forecast period. However, Asia-Pacific is projected to grow at the highest CAGR of 8.4%.
The rainscreen cladding market comprises major manufacturers such as Kingspan Insulation (UK), SIKA (Switzerland), Rockwool International A/S (Denmark), Everest Industries Limited (Denmark), SFS Group AG (US), Sotech Architectural Faade (UK), Promat UK Ltd (UK).
Increase in the construction (innovation, remodelling, and maintenance) activities are projected to drive the overall growth of the rainscreen cladding market across the globe from 2019 to 2024.
The global rainscreen cladding market has witnessed high growth primarily because of the increasing construction activities worldwide. Rising disposable income of consumers, specifically in developing nations, is another key factor contributing towards the increase in renovation and remodelling activities, which in turn will drive the growth of the rainscreen cladding market over the next few years.
In terms of both, value and volume, the new construction segment is projected to grow at the highest CAGR during the forecast period.
The new construction segment of the rainscreen cladding market is projected to grow at the highest CAGR during the forecast period, in terms of value as well as volume. It is a durable, flexible and waterproof cladding material in the market. It includes an extruded polymer-based core layer which provides a better rigid property to the floor. Its properties such as easy installation and smooth finished appearance after the installation further drives the market for the rainscreen cladding market.
In terms of both, value and volume, the composite material segment is projected to lead the rainscreen cladding market from 2019 to 2024.
Growth of composite material segment in the rainscreen cladding market is primarily attributed to the high strength, increased durability, and design flexibility. It accounted for a market share of 53.4% among all the materials used for rainscreen cladding due to its low cost and easy installation techniques. Composite materials are the most preferred rainscreen cladding material for residential as well as non-residential buildings, owing to their high durability, longer shelf-life of around 30-40 years, and no maintenance. Their easy maintenance & installation features save the additional labor cost involved in it.
In terms of both, value and volume, the non-residential segment is projected to lead the rainscreen cladding market from 2019 to 2024.
The growth of the non-residential segment in the rainscreen cladding market is primarily attributed to the favourable and lenient lending policies initiated by governments across all regions, which is driving the sales of residential construction projects. The non-residential construction spending is estimated to go up, particularly in the emerging Asia Pacific and Latin American regions; there is a trend of urbanization observed in these regions, resulting in a much higher growth rate for the residential construction market, than in developed markets. The increasing need for renovation, remodelling, as well as maintenance, further increase the need for rainscreen cladding in the non-residential segment.
In terms of both, value and volume, the Europe rainscreen cladding market is projected to contribute the maximum market share during the forecast period.
In terms of value, the Europe region is projected to lead the rainscreen cladding market from 2019 to 2024 due to the strong demand from countries such as UK, Germany, France, Russia, and Italy. This demand in these mentioned countries is due to the tremendous growth of the construction opportunities in these countries. The demand is also driven by the increasing number of new housing units and huge investments in the infrastructural sector.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Rainscreen Cladding Systems Market
4.2 Europe: Rainscreen Cladding Systems Market, By Material and Country
4.3 Rainscreen Cladding Systems Market, By Material
4.4 Rainscreen Cladding Systems Market, By Construction Type
4.5 Rainscreen Cladding Systems Market, By End-Use Sector
4.6 Rainscreen Cladding Systems Market, By Country
5 Market Overview
5.2 Market Dynamics
18.104.22.168 Growth in Population and Rapid Urbanization Translating to A Large Number of New Construction Projects
22.214.171.124 Increase in Non-Residential Construction Activities
126.96.36.199 High Durability of Rainscreen Cladding Systems
188.8.131.52 High Raw Material and Installation Costs
184.108.40.206 Rise in Demand for Protective Systems, Enhancing the Aesthetic Appeal of A Building
220.127.116.11 Rise in Population and Urbanization in Emerging Economies
18.104.22.168 Increase in Demand for Fiber Cement in the Rainscreen Cladding Systems
22.214.171.124 Increase in Demand for Sustainable Cladding Materials
126.96.36.199 High Repairing Costs
5.3 Yc, Ycc Drivers
6 Rainscreen Cladding Systems Market, By Material
6.1.1 Rainscreen Cladding Systems Market, By Material
6.2 Composite Materials
6.2.1 Composite Materials to Gain High Preference From the Construction Sector in the Rainscreen Cladding Systems Market
6.3 Fiber Cement
6.3.1 High Strength and Durability to Drive the Growth of the Fiber Cement Rainscreen Cladding Systems Market
6.4.1 The Increasing Demand for High Thermal Efficiency and Durability of the Material Drives the Demand for Metal Cladding
6.5 High-Pressure Laminate
6.5.1 The Hpl Segment is Projected to Record A Stagnant Growth Rate During the Forecast Period
7 Rainscreen Cladding Systems Market, By Construction Type
7.3 New Construction
8 Rainscreen Cladding Systems Market, By End-Use Sector
8.2.1 The Residential Sector is Projected to Grow at A Moderate Rate in the Rainscreen Cladding Systems Market
8.3.1 The Non-Residential Application is Projected to Account for A Larger Share in the Rainscreen Cladding Systems Market
9 Rainscreen Cladding Systems Market, By Region
9.2 Asia Pacific
188.8.131.52 The Chinese Rainscreen Cladding Systems Market to Grow at the Highest Rate Through 2024
184.108.40.206 The New Construction Segment is Projected to Grow at A Higher Rate By 2024
220.127.116.11 India is Projected to Witness Second-Highest Growth in the Asia Pacific Rainscreen Cladding Systems Market
18.104.22.168 The New Construction Segment Accounted for the Larger Share in the Australian Rainscreen Cladding Systems Market
9.2.5 South Korea
22.214.171.124 The New Construction Segment is Projected to Lead the South Korea Rainscreen Cladding Systems Market
9.2.6 Rest of Asia Pacific
126.96.36.199 The Non-Residential Sector Segment is Projected to Witness High Growth in Germany
188.8.131.52 The Non-Residential Cement Segment is Projected to Grow at the Highest Rate in France
184.108.40.206 The New Construction Segment is Projected to Witness High Consumption in the UK Through 2024
220.127.116.11 The New Construction Segment is Projected to Witness High Growth During the Forecast Period
18.104.22.168 The New Construction Segment Accounted for the Larger Share in 2017 in Russia
9.3.6 Rest of Europe
22.214.171.124 The Non-Residential Segment is Projected to Grow at the Highest Rate in the Rest of Europe Market By 2024
9.4 North America
126.96.36.199 The Non-Residential Sector to Witness the Highest Consumption in the US By 2024
188.8.131.52 The New Construction Segment to Grow at A Higher CAGR, in Terms of Value, in Canada
184.108.40.206 New Construction to Witness High Growth, in Terms of Volume, in Mexico Through 2024
9.5 Middle East & Africa
220.127.116.11 Turkey to Lead the Rainscreen Cladding Systems Market in the Middle East & Africa, in Terms of Value
9.5.2 Saudi Arabia
18.104.22.168 Saudi Arabia to Be the Second-Fastest-Growing Market in the Middle East & Africa, in Terms of Value
22.214.171.124 New Construction is Expected to Be the Faster-Growing Cladding Material in the UAE, in Terms of Volume
9.5.4 South Africa
126.96.36.199 The Non-Residential Segment to Lead the South African Rainscreen Cladding Systems Market
9.5.5 Rest of the Middle East & Africa
9.6 South America
188.8.131.52 Brazil to Account for the Largest Share in the South American Rainscreen Cladding Systems Market
184.108.40.206 Increase in Investment in Constructions is Projected to Drive the Rainscreen Cladding Systems Market in Argentina
9.6.3 Rest of South America
220.127.116.11 New Construction is Projected to Remain the Larger Segment in the Rainscreen Cladding Systems Market in Rest of South America
10 Competitive Landscape
10.2 Competitive Scenario
11 Company Profiles
11.1 Kingspan Insulation
11.3 Rockwool International A/S
11.4 Everest Industries Limited
11.5 SFS Group AG
11.6 Sotech Architectural Faade Systems
11.7 Promat UK Ltd.
11.8 Additional Company Profiles
11.8.1 CGL Faades Ltd.
11.8.2 Celotex Ltd.
11.8.4 ECO Earth Solutions Pvt. Ltd.
11.8.5 Omnimax International Inc.
11.8.6 Trespa International B.V.
11.8.7 Middle East Insulation LLC
11.8.8 Euro Panels Overseas N.V.
11.8.9 Centria International
11.8.10 Dow Building Solutions
11.8.12 Alucobond (3A Composites)
11.8.13 Arconic Inc.
11.8.14 Euroclad Group
11.8.15 Dams Incorporated
11.8.17 Armetco Systems
11.8.18 Vulcan Cladding Systems
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