Rainscreen Cladding Market Size, Share & Trends Analysis Report By Raw Material, By Application And Regional Segment Forecasts, 2019 - 2025

Rainscreen Cladding Market Size, Share & Trends Analysis Report By Raw Material, By Application And Regional Segment Forecasts, 2019 - 2025

  • March 2019 •
  • 252 pages •
  • Report ID: 5763730 •
  • Format: PDF
Rainscreen Cladding Market Size, Share & Trends Analysis Report By Raw Material, By Application (Residential, Commercial, Official, Institutional, Industrial), And Regional Segment Forecasts, 2019 - 2025

The global rainscreen cladding market size is expected to reach USD 183.3 billion by 2025, exhibiting a CAGR of 6.7% over the forecast period. Growth in construction spending in developing economies of Asia Pacific, resulting from population expansion and strong industrial development, is expected to drive the market.

Increasing urban population has led to the inadequacy of affordable housing, surge in road traffic, and inadequate water and sanitation services. Middle East and Africa, in particular, is transitioning from lack of infrastructure to a phase of infrastructural development, which is expected to fuel demand for rainscreen cladding.

The market is characterized by developments in technology to produce advanced products used in construction and other industrial applications. In addition, the low environmental impact of the product owing to low emission of volatile organic compounds (VOCs) is likely to drive product demand over the coming years.

Players in the industry are involved in mergers and acquisitions, contracts, agreements, and joint ventures in order to strengthen their position in the industry. However, high installation and maintenance cost associated with the product is anticipated to hamper demand over the projected period.

Further key findings from the report suggest:
• The terracotta rainscreen cladding market accounted for 35.2% of the overall revenue in 2018 on account of its increasing application for creation of panel designs in combination with other materials such as glass, stone surfaces, and paints
• Demand for high-pressure laminates is expected to witness growth in terms of revenue at a CAGR of 7.4% from 2019 to 2025 owing to their attributes such as high durability, impact resistance, and availability in attractive colors and textures
• Product consumption in the construction of offices is projected to reach USD 60.75 billion by 2025 on account of rising employment rate, coupled with regional expansion of existing companies, resulting in greater demand for office spaces
• Asia Pacific accounted for 25.5% of the global revenue in 2018 owing to an expanding construction industry in the region, which can be attributed to massive investments for development of public infrastructure by governments across numerous countries
• Major players in the industry are focusing on research and development activities for reducing operational costs, maximizing the efficiency of production, storage, and transportation facilities, and enhancing the quality of products to sustain the competition.