Rainscreen Cladding Market Set to Witness an Uptick during 2019 to 2025

Posted by Mrudula Anil Karmarkar on April 6th, 2022

The global rainscreen cladding market size is expected to reach USD 183.3 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.7% over the forecast period. Growth in construction spending in developing economies of Asia Pacific, resulting from population expansion and strong industrial development, is expected to drive the market.

Increasing urban population has led to the inadequacy of affordable housing, surge in road traffic, and inadequate water and sanitation services. Middle East and Africa, in particular, is transitioning from lack of infrastructure to a phase of infrastructural development, which is expected to fuel demand for rainscreen cladding.

The market is characterized by developments in technology to produce advanced products used in construction and other industrial applications. In addition, the low environmental impact of the product owing to low emission of volatile organic compounds (VOCs) is likely to drive product demand over the coming years.

Players in the industry are involved in mergers and acquisitions, contracts, agreements, and joint ventures in order to strengthen their position in the industry. However, high installation and maintenance cost associated with the product is anticipated to hamper demand over the projected period. Market players seek for continuous R&D to create unique panels and facades, which can offer enhanced moisture barrier properties. The performance and price of these systems is dependent on panel type, insulation, and framework used for the structure. The products strictly need to follow the standards set by the governing bodies across various countries.

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The market is highly competitive owing to the presence of numerous local and multinational players. Fluctuating raw material prices and strategies of new entrants are expected to be the key challenge for the existing players. They are investing in R&D and innovation to sustain in the competitive environment. Key players are focusing on mergers, acquisitions, and joint ventures to sustain the competition and to reduce the overall cost for the system. They offer structural designing and installation services to fulfill the demand for innovative designs.

Further key findings from the report suggest:

• The terracotta rainscreen cladding market accounted for 35.2% of the overall revenue in 2018 on account of its increasing application for creation of panel designs in combination with other materials such as glass, stone surfaces, and paints
• Demand for high-pressure laminates is expected to witness growth in terms of revenue at a CAGR of 7.4% from 2019 to 2025 owing to their attributes such as high durability, impact resistance, and availability in attractive colors and textures
• Product consumption in the construction of offices is projected to reach USD 60.75 billion by 2025 on account of rising employment rate, coupled with regional expansion of existing companies, resulting in greater demand for office spaces
• Asia Pacific accounted for 25.5% of the global revenue in 2018 owing to an expanding construction industry in the region, which can be attributed to massive investments for development of public infrastructure by governments across numerous countries
• Major players in the industry are focusing on research and development activities for reducing operational costs, maximizing the efficiency of production, storage, and transportation facilities, and enhancing the quality of products to sustain the competition.

Grand View Research has segmented the global rainscreen cladding market on the basis of raw materials, application:

Rainscreen Cladding Raw Material Outlook (Volume, Thousand Sq. Meters, Revenue, USD Million, 2014 - 2025)

• Fiber Cement
• Composite Material
• Metal
• High Pressure Laminates
• Terracotta
• Ceramic
• Others

Rainscreen Cladding Application Outlook (Volume, Thousand Sq. Meters, Revenue, USD Million, 2014 - 2025)

• Residential
• Commercial
• Offices
• Institutional
• Industrial