Cladding Systems Market worth 242.84 Bn USD by 2021

Monday 18 July 2016, Amsterdam

Cladding Systems Market worth 242.84 Bn USD by 2021
The report, now available on ASDReports, "Cladding Systems Market by Material (Wood, Brick & Stone, Vinyl, Stucco & EIFS, Metal, Fiber Cement), Component (Walls, Roofs, Windows & Doors), Function (Insulation, Air & Vapor Control, Precipitation Control), by Application - Forecast to 2021", The market for cladding systems is projected to grow from USD 173.51 Billion in 2016 to USD 242.84 Billion by 2021, at an estimated CAGR of 6.95%. This growth is due to the growing construction activities, globally. Government regulations regarding zero energy building codes also provides an opportunity to the market to grow further, especially in the emerging Asia-Pacific and Latin American regions.

Non-residential sector is projected to gain maximum traction during the forecast period

The non-residential sector is projected to be the fastest-growing segment from 2016 to 2021. The non-residential sector comprises industrial, commercial, and other applications. New construction and remodeling is expected to increase the demand for cladding systems.

The vinyl segment contributes maximum market share to the cladding systems market

Vinyl accounted for the largest market share in 2015. This is because of its low cost and easy installation techniques. Vinyl siding is the most preferred siding for residential buildings. Vinyl siding is durable and can last for up to 30 to 40 years. Also, growing construction projects, both residential and commercial, have driven the market in this segment. Other cladding materials include stone & brick, wood, stucco & EIFS, metal, and fiber cement.

Asia-Pacific to play a key role in the growth of the market for cladding systems

On the basis of key regions, the market for cladding systems is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The Asia-Pacific region is the most attractive market for cladding systems. Rising economy and rapid growth in the infrastructure sector in this region have significantly impacted the growth of the cladding systems market. This region is projected to witness the highest number of new constructions and infrastructural activities in the near future.
Cladding Systems Market - Forecast to 2021

Cladding Systems Market - Forecast to 2021

Publish date : July 2016
Report code : ASDR-279245
Pages : 199

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