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Cladding Systems Market Worth $714.7 Billion by 2023 - Exclusive Report by MarketsandMarkets™

 



(EstateNewsWire.com, March 02, 2019 ) According to the new research report "Cladding Systems Market by Material (Ceramic, Wood, Stucco & EIFS, Brick & Stone, Metal, Vinyl, Fiber Cement, Others), Component (Wall, Roof, Others), Application (Commercial, Residential), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Cladding Systems Market is projected to grow from USD 555.9 billion in 2018 to USD 714.7 billion by 2023, at a CAGR of 5.16%. The Cladding Systems Market is projected to grow in accordance with the growth of the construction industry across the globe. Factors such as an increase in the residential & commercial construction and infrastructure activities, along with the demand for durability of cladding systems 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 ceramic segment is estimated to lead the Cladding Systems Market in 2018.

Ceramic is mainly used for tile cladding, and hence plays an important role in the construction industry. The ceramic tiles enhance the overall atmosphere of a residential or commercial landscape. The selection of the type of these tiles is based on several factors such as ease of maintenance, durability, comfort, safety, style, and design templates. Foot traffic plays an important role in the selection of the type of ceramic tiles. The wall tiles are employed in the interior as well as the exterior of the building to meet the requirement of decoration or aesthetics. The usage of ceramic tiles ranges from bathrooms and kitchens in households to laboratories, restaurants, medical centers, shopping centers, schools, and government buildings.

In terms of value, the roof cladding segment is projected to grow at the highest CAGR from 2018 to 2023.

The roof Cladding Systems Market mainly comprises concrete, metal, and plywood sheets made from wood fibers. Metals such as steel and aluminum are used in the pre-coated form to protect the roof from extreme weathering conditions and corrosion. In new commercial building constructions, metal roof cladding accounted for the majority of the market share. In non-residential buildings such as industrial and farm-type buildings, metal roof claddings, such as steel and aluminum, accounted for a majority share. Other non-residential buildings such as education and social/cultural buildings, cladding materials such as fiber cement, bricks, and concrete, dominate the roof cladding market.

Don't miss out on business opportunities in Cladding Systems Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=148899031

Browse in-depth TOC on "Cladding Systems Market"
86 - Tables
46 - Figures
152 - Pages

In terms of value and volume, the commercial segment is estimated to lead the Cladding Systems Market in 2018.

Demand for cladding in the commercial segment is primarily attributed to the favorable and lenient lending policies initiated by governments across all regions, which is driving the sales of commercial construction projects. The commercial construction spending is estimated to go up, particularly in the emerging Asia Pacific and South American regions; there is a trend of urbanization observed in these regions, resulting in a much higher growth rate for the commercial construction market, than in developed markets.

North America is projected to account for the largest share in the Cladding Systems Market during the forecast period

The North American region is projected to lead the Cladding Systems Market, in terms of both, value and volume, from 2018 to 2023. Factors such as the development of green buildings and rise in energy efficiency codes and building specifications are expected to drive the Cladding Systems Market growth in the North American region. In addition, increased focus on energy-efficient buildings, stringent requirements for insulation, and new building codes have generated awareness regarding thermal insulation in buildings in the region. Furthermore, government initiatives for incentive programs such as the American Recovery and Reinvestment Act (ARRA) have helped increase the flow of funds for various projects, including infrastructure, housing, and energy.

Compagnie de Saint-Gobain S.A. (France), DowDuPont (US), Tata Steel Limited (India), Arconic (US), Westlake Chemicals (US), Etex Group (Belgium), James Hardie Industries PLC (Ireland), CSR Limited (Australia), Nichiha Corporation (Japan), Boral Limited (Australia), Cembrit Holding A/S (Denmark), Louisiana Pacific Corporation (US), and Kingspan PLC (UK) are key players operating in the Cladding Systems Market. Expansions, acquisitions, investments, and new product developments are some of the major strategies adopted by these key players to enhance their position in the Cladding Systems Market.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


MarketsandMarkets

Mr. Shelly Singh

1-888-600-6441

sales@marketsandmarkets.com

Source: EmailWire.Com


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