Press release
Rainscreen Cladding Market Set to Soar: Projected Valuation of US$ 267.32 Billion by 2032
Rainscreen Cladding Market
The demand for rainscreen cladding structures is poised to gain substantial traction, primarily due to the increasing emphasis on enhancing the aesthetic appeal of both newly constructed and renovated buildings. This aligns with the essential goal of providing protection against fire, precipitation, and air infiltration. Furthermore, the growth of the rainscreen cladding market is fueled by the rising demand for advanced moisture management and energy-efficient building solutions.
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- Driving Factors for Rainscreen Cladding Market Amid Challenges
The growth of the rainscreen cladding market is expected to be propelled by increasing consumer demand for products that offer improved moisture control capabilities and energy efficiency. Additionally, both developed and emerging countries are witnessing a surge in the construction of non-residential structures such as offices and institutions, accompanied by a shift towards enhancing the protection of exterior walls. However, the economic downturn caused by the COVID-19 crisis has led to reduced investor confidence and a decline in industrial activities, posing challenges to the growth of the rainscreen cladding industry.
The demand for rainscreen cladding is rising due to evolving consumer preferences towards safeguarding exterior walls in residential, commercial, and non-residential structures, including workplaces and institutions.
A significant design flaw in rainscreen cladding solutions is their inability to handle air pressure gradients. When the exterior of the wall lacks airtightness, the cladding wall's surface is exposed to strong wind forces. The confinement of airflow and moisture within wall cavity chambers, generated between furring strips, represents a major drawback in the conventional end-use application of rainscreen cladding. The lack of airflow exchange between these compartments is limiting the growth of the rainscreen cladding market.
- Key Insights from the Market Study
In 2021, the terracotta raw material segment held the largest share of the rainscreen cladding market, contributing over 35.5 percent of global revenue. The construction industry accounted for 33 percent of the total revenue in the rainscreen cladding market in 2021. Europe led the market in 2021, generating more than 30.5 percent of global revenue. In North America, the demand for rainscreen cladding is expected to witness significant growth during the forecast period due to increased construction of new power plants, social infrastructure, commercial projects, and shale gas exploration activities.
- Competitive Landscape
The rainscreen cladding market is characterized by strong competition, with numerous regional and international companies operating within the industry. Incumbent players face challenges stemming from fluctuations in raw material prices and the strategies of new entrants. Continued research and development, along with advanced process practices, are essential for survival in this competitive environment.
To remain competitive and reduce overall costs in the rainscreen cladding market, major competitors are focusing on mergers, acquisitions, and joint ventures. These players are offering structural planning and installation services to meet the demand for innovative rainscreen cladding solutions in various structures.
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- Recent Developments in the Rainscreen Cladding Market
To cater to the demands of architects and specifiers seeking distinctive facade systems, Proteus Facades, a renowned supplier of high-quality rainscreen cladding systems, made its entry into the U.S. rainscreen cladding market in April 2021. This strategic expansion marks a new chapter for the company, known for its contribution to prominent construction projects in the UK. The decision to enter the U.S. market was prompted by significant investments in production capabilities and the growing demand for innovative facade designs.
In December 2021, Brickability Group made a noteworthy move by acquiring Taylor Maxwell Group for approximately US$ 87.77 million. Taylor Maxwell Group is a leading supplier of wood and facade solutions to the building industry in the UK. Through this acquisition, Brickability Group is poised to enhance its offerings by integrating timber and cladding into its portfolio. This strategic move not only widens the range of available products but also strengthens Brickability's competitive advantage in specific markets, potentially paving the way for organic growth in the future.
- Rainscreen Cladding Market by Segmentation
By Raw Material:
Fiber Cement
Composite Material
Metal
High-pressure Laminates
Terracotta
Ceramic
Others
By Application:
Residential
Commercial
Official
Institutional
Industrial
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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