Rainscreen Cladding Market Size Analysis, DROT, PEST, Porter’s, Region & Country Forecast till 2027
The rainscreen cladding market size is estimated to reach USD 204.90 Billion from USD 124.95 Billion in 2019, delivering a CAGR of 6.8% through 2027. The market growth is driven by increasing remodeling & maintenance activities, residential and non-residential construction, and focus on enhancing the aesthetic appearance of buildings.
A rainscreen cladding is an effective siding system for enveloping new and old construction and is one of the prevailing sustainability trends in architecture. These systems provide superior thermal performance, fire protection, and weather tightness to buildings. Rainscreen cladding is becoming increasingly popular among builders and architects on account of its thermal and sound efficiency, which further enables cutting back on energy bills and reducing emissions.
Extensive residential and commercial applications of the product to improve resistance to weather will boost rainscreen cladding market growth. The growing construction expenditure, primarily in the residential and commercial sectors for better weather resistance and improved aesthetics, is driving the demand for rainscreen cladding. In addition, a rise in the incidence of natural calamities like hurricanes, tsunamis, and wildfires, is also supporting product proliferation. Moreover, the increasing industrialization rate, coupled with the emergence of new companies in the emerging economies, will supplement the rainscreen cladding market revenue share over the forecast period.
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Key players operating in the global rainscreen cladding market are Kingspan Insulation, SFS Group AG, SIKA, Everest Industries Limited, Promat UK Ltd., Sotech Architectural Façade Systems, Rockwool International A/S, Centria International, Dams Incorporated, and Trespa International B.V., among others.
Further key findings from the report suggest
- Based on material, the composite material is projected to witness a substantial growth rate of 6.9% over the forecast period. The robust growth rate can be attributed to the benefits offered by the product, including increased durability, design high strength, and excellent flexibility that allows the panels to be transformed into complex shapes.
- Fiber cement segment is estimated to contribute significantly to the rainscreen cladding market share, exhibiting a CAGR of 6.5% through on account of fireproofing property, making it a suitable raw material for panel manufacturing.
- On the basis of construction type, the renovation segment is dominating the market share and is forecast to exhibit a CAGR of 7% through 2027.
- The new construction segment is projected to witness a notable growth rate of 6.5% over the analysis period on account of rapid industrialization and urbanization in developing economies.
- In terms of application, the commercial sector construction is anticipated to contribute significantly to the global rainscreen cladding market share, delivering a notable CAGR of 6.9% over the projected timeframe.
- The institutional construction segment is estimated to witness a substantial growth rate of 6.7% over the analysis period on account of the growing adoption of rainscreen cladding in educational buildings, schools, healthcare premises, libraries, city halls, and other public amenities for safety from weathering, enhancing energy efficiency, and infrastructural aesthetics.
- In the regional landscape, Europe is estimated to lead the market with a CAGR of 6.9% over the analysis period due to rising construction of commercial and residential properties as per building regulation norms in the region.
- In 2019, North America accounted for revenue generation of more than USD 41.46 billion in 2019 and is set to witness substantial growth through 2027 on account of regional government initiatives for the expansion of commercial projects.
- On August 6, 2018, a specialist provider of acoustic, fire & thermal and high-temperature solutions, SIG Performance Technology, launched a new component called ‘Chi-Gasket’ for use within rainscreen cladding applications to support the streamlining of external wall footprints while also facilitating Building Regulation compliance.
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For the purpose of this report, Reports and Data has segmented into the Global Rainscreen Cladding Market on the basis of material, application, construction type, and region:
Material Outlook (Revenue, USD Billion; 2017-2027)
- Composite Materials
- Fiber Cement
- High-Pressure Laminate
Application Outlook (Revenue, USD Billion; 2017-2027)
Construction Type Outlook (Revenue, USD Billion; 2017-2027)
- New Construction
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Benefits of Global Rainscreen Cladding Market Report:
- Comprehensive analysis of the changing market dynamics
- A futuristic outlook on different factors influencing the market
- An 8-year forecast of the market growth and expected revenue growth
- Ease of understanding of the market, key segments, and their future growth
- In-depth analysis of the competitive landscape to give an advantageous edge for the companies
- Extensive insight into the market with in-depth analysis of the segmentation
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