Rainscreen Cladding Market Growth & Trends
The global rainscreen cladding market size is expected to reach USD 233.08 billion by 2030, registering a CAGR of 7.0% over the forecast period, according to a new report by Grand View Research, Inc. The rising demand for the aesthetic appeal of new as well as renovated buildings and protection against fire, rainwater, and air is likely to drive the industry growth for rainscreen cladding structures. The growing need for enhanced moisture management and energy-efficient solutions for buildings is likely to propel the product demand. Shifting consumer trends toward the protection of exterior walls in residential, commercial, and non-residential buildings, including offices and institutions are boosting the product demand.
A large number of players are based in North American and European economies owing to the easy access to raw materials. Innovations and technological advancements in manufacturing and installations are the key factors for producers to sustain in the competition. The manufacturers have established contacts with the suppliers to secure material flow for the product manufacturing. Aluminum composite materials, fiber cement, and terracotta are widely used for manufacturing the rainscreen components owing to their high durability, fire & waterproof properties, and resistance to the growth of bacteria, fungi, and mold. However, unstable prices for raw materials and installation charges for the structure are expected to hamper the overall pricing for rainscreen claddings.
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Rainscreen Cladding Market Report
Rainscreen Cladding Market Report Highlights
- The demand for terracotta panels is expected to grow at a steady CAGR over the forecast period owing to their fire-resistant and thermal insulation properties that find applications in commercial and office constructions
- Europe dominated the market in 2021 on account of the recovery of its residential & commercial segments and increasing construction practices owing to an increase in immigration rates
- The growth of the North America regional market is attributed to the high demand from the residential sector, extensively developed manufacturing industry, and government initiatives to develop social infrastructure
- The office construction segment is expected to register the highest product demand during the projected period owing to rising employment rates and regional expansion of existing companies that require the construction of new office spaces
- Integrations, development of new technologies in manufacturing & installation practices, and introduction of innovative designs are the key strategies adopted by market players
