The report “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″ The rainscreen cladding market is projected to grow from USD 10.1 billion in 2019 to USD 14.3 billion by 2024, at a CAGR of 7.1% from 2019 to 2024. Rainscreen cladding market is expected to grow in accordance with the growth of the construction industry across the globe. Factors such as increase in the residential and non-residential construction and innovation as well as remodeling activities, along with the demand for durability of rainscreen cladding with the ability to withstand various weathering actions and resist chemical attacks & deterioration are expected to support market growth during the forecast period.
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In terms of value and volume, the new construction segment is estimated to lead the rainscreen cladding market in 2019.
The new construction segment held the largest market share among all the construction of rainscreen cladding as it is affordable and is installed in regions having extreme weather conditions. It is a traditional glue-down cladding material which inherits several properties such as durability, flexibility, ease installation, and budget-friendly. The demand for the new construction segment is driving due to its properties, making it a preferred constructional type of rainscreen cladding for the residential as well as commercial application. The renovation segment is considered suitable for almost all applications such as builder, multi-family, residential, and commercial.
In terms of volume, the non- residential segment leads the rainscreen cladding market in 2019.
Rainscreen cladding enhance the aesthetic appeal of a building, along with properties such as durability, comfort, and protection from extreme weathering has also driven the residential sector. Also, the rise in housing renovation and maintenance will further drive the demand for rainscreen cladding in the residential sector. The use of rainscreen cladding in residential buildings enhances the aesthetic appeal and provides durability and comfort. Rainscreen cladding is a non-structural, aesthetic layer or thin panel applied on the outer skin of the building that protects everything inside it from the external weather elements.
Europe region is projected to account for the largest share in the rainscreen cladding market during the forecast period
The Europe region is expected to lead the rainscreen cladding market in terms of both value and volume, from 2019 to 2024. Factors such as the increasing number of new housing units and huge investments in the infrastructural sector is expected to drive the rainscreen cladding market growth in the European region. Also, countries such as UK, Germany, France, Russia are considered to be developed markets in the construction sector as compared to the emerging markets such as Italy due to the tremendous growth of the construction opportunities in these countries has also driven the demand for rainscreen cladding.
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Kingspan Insulation (UK), Sika (Switzerland), Rockwool International A/S (Denmark), Everest Industries Limited (Denmark), and Sotech Architectural Facade (UK) are key players operating in the rainscreen cladding market. Expansions, acquisitions, partnerships, and new product developments are some of the significant strategies adopted by these key players to enhance their position in the rainscreen cladding market.
Kingspan Insulation Ltd (UK) is one of the key players in the manufacturing of fabricated & high-performance insulation as well as building envelope solutions. The company operates through its five business segments, namely, insulated panels, insulation boards, data & flooring technology, light & air, and water & energy. Its extensive product portfolio includes architectural façade , structural framing, metal facades, insulation boards, building services insulations, engineered timber , daylighting, smoke management, micro-wind , ventilation , energy storage solutions, and insulated panels. The company operates in the rainscreen cladding market via architectural façade . The company has more than 129 manufacturing sites and is present across more than 70 countries worldwide.
Sika AG (Sika) (Switzerland), is one of the global leaders in the specialty chemicals industry and operates through two business segments, namely, construction and industrial manufacturing. The company produces concrete & mixtures, mortar, sealants & adhesives, tooling resins, anti-static industrial flooring, and acoustic material. Under the construction segment, the company offers products and solutions for building components, cement industry, concrete technology, concrete refurbishment, elastic bonding, flooring & coating, gypsum & dry mortar, joint sealing, roofing, structural bonding, tiling , and waterproofing. The industry segment includes automotive, automotive aftermarket, building components, general industry, marine, renewable energies, and transportation industry. Sika AG has a presence in more than 50 countries, including Germany, India, Brazil, Chile, Morocco, and Australia, across five continents. Sika has subsidiaries in 95 countries worldwide and over 170 factories.
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