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2017

Claddings Market

Claddings Market Size, Share, Competitive Landscape and Trend Analysis Report by Component Type, Material Type - Global Opportunity Analysis and Industry Forecast, 2014-2022

CM : Construction Materials

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Author's: Nikhil Dasyam | Sonia Mutreja
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Cladding Market Overview:

Claddings Market are defined as a non-loadbearing skin or layer attached to the outside or inside of a building and includes all moisture barriers and siding materials used to cover the outside of a structure. Cladding systems provide versatile long lasting energy saving advantages, which are designed to meet the most demanding aesthetic and functional requirements. The choice of cladding is done based on a careful assessment and prioritization of each of these roles for each orientation of the building. By choosing cladding materials specific to an elevation or exposure, users can achieve the best in physical performance and aesthetics. Cladding is typically made from wood, metal, plastic (vinyl), masonry or an increasing range of composite materials.

The global claddings market was valued at $166,026 million in 2015 and is expected to garner $262,381 million by 2022 growing at a CAGR of 6.7%. The claddings market is largely driven by the rise in residential & commercial constructions, government regulations regarding zero energy buildings, and an increasing demand for sustainable cladding systems. However, the claddings market growth is restrained due to factors such as high material & installation costs and lack of skilled labor availability.

Segment Overview:

The global claddings market is segmented based on component type, material type, and end-use sector and by geography. Geographically, the market is analyzed across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries. Component wise, the claddings market includes walls, roofs, windows & doors, and others (including rooflights, vents and gutters). Walls are the most dominant component type and constituted around 63.1% of the overall claddings market in 2015. The walls segment is projected to grow at the highest rate in the forecast period, owing to factors such as growing customer focus towards sustainable construction and improved focus on aesthetics of the buildings.

Based on material type, the global claddings market is segmented into masonry & concrete, brick & stone, stucco & EIFS, fiber cement, metal, vinyl, wood, and others. Vinyl is the most widely used material for making cladding systems and accounted for the largest share of the claddings market size in 2015. The dominance of vinyl cladding is due to its low-cost and easy availability, which makes it one of the most widely used materials for cladding systems globally. Fiber cement estimated to be the fastest growing material for claddings market.

The global claddings market based on end-users has been classified into residential and non-residential segments. The non-residential segment includes commercial buildings, public infrastructure, and industrial buildings. The non-residential segment dominated the market in 2015 accounting for around 61.6% of the overall claddings market size. Residential segment is projected to be the fastest growing end-user sector.

By geography, North America generated the maximum revenue, and is estimated to grow at a CAGR of 6.9%, followed by Asia-Pacific. Asia-Pacific region is estimated to grow at the fastest as the countries in this region are expected to achieve high growth in the construction sector, thus triggering a huge demand for cladding systems.

Global Claddings Market Segmentation

Global Claddings Market Segmentation

Top Impacting Factors for Global Claddings Market

Top Impacting Factors for Global Claddings Market

Growth in residential & non-residential constructions:

The growing construction sector across the globe will have a significant impact on the growth of the claddings industry. The global construction output is expected to grow by 85% by 2030, creating a market of around $15.5 trillion. The major growth of the construction sector is expected in emerging countries in the Asia-Pacific and LAMEA regions. Claddings play a key role in improving the aesthetics, energy efficiencies, and weatherability, which have increased their adoption.

Government regulations:

Many governments’ across the globe have formulated several initiatives, which aim to reduce the total amount of energy used by buildings on an annual basis. These strategies play a key role for the claddings industry as cladding systems have a significant effect in improving the overall performance of the buildings by providing excellent thermal efficiency, which helps in improving the building efficiency thereby cutting down the energy costs.

Increase in usage of fiber cement:

Fiber cement in commercial and residential construction is primarily used for cladding, molding & trimming, and for other applications. The usage of fiber cement as a cladding material has witnessed a significant growth over the last few years. This increase of fiber cement as a cladding material is due to its ability to improve the buildings’ sustainability. Fiber cement is widely available from renewable sources and has high tensile strength and is relatively low cost. Although fiber cement presently accounts for only for minor share of the claddings market, its adoption is expected to increase over the forecast period.

High material and installation cost:

The cost of installation of claddings from certain materials such as concrete can increase the overall construction costs. In some cases the installation of claddings takes long period of time thereby increasing the labor costs. The impact of this factor is presently moderate, but it is expected to decrease over the forecast period.

Key players profiled in the report include Acme Brick Company, Alcoa Inc., Axiall Corporation, Boral Limited, CSR Limited, Etex Group, Armstrong Metalldecken AG, James Hardie Plc, Nichiha Corporation, and Tata Steel Limited.

Key Benefits

  • This study provides an in-depth analysis of the global claddings market, along with current trends and future estimations to identify the potential investment pockets.
  • Key drivers, restraints, and opportunities and their impact analysis are elucidated in the report.
  • Porter’s Five Forces analytical model illustrates the competitiveness of the claddings industry by analyzing various parameters such as threat of new entrants, threat of substitutes, strength of the buyers, and strength of the suppliers.
  • Quantitative analysis of the current market and estimations from 2014 to 2022 is provided to highlight the financial competency of the market.

Cladding Market Key Segmentation

The global claddings market is segmented on the basis of component type, material type, end-use sector, and geography.

By Component Type

  • Walls
  • Roofs
  • Windows & doors
  • Staircase
  • Others

By Material Type

  • Masonry & concrete
  • Brick & stone
  • Stucco & EIFS
  • Fiber cement
  • Metal
  • Vinyl
  • Wood
  • Others

By End-user

  • Residential
  • Non-residential

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Australia
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Middle East
    • Latin America
    • Africa

Key Players

  • Acme Brick Company
  • Alcoa Inc.
  • Axiall Corporation
  • Boral Limited
  • CSR Limited
  • Etex Group
  • Armstrong Metalldecken AG
  • James Hardie Plc
  • Nichiha Corporation
  • Tata Steel Limited

Other Players Mentioned in the Report

The other companies mentioned in the report include A. Steadman & Sons, C A Building Products and Metal Technology.

Claddings Market Report Highlights

Aspects Details
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By MATERIAL TYPE
  • MASONRY & CONCRETE
  • BRICK & STONE
  • STUCCO & EIFS
  • FIBER CEMENT
  • METAL
  • VINYL
  • WOOD
  • OTHERS
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By COMPONENT TYPE
  • WALLS
  • ROOF CLADDING
  • WINDOWS & DOORS
  • OTHERS
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By END-USE SECTOR
  • RESIDENTIAL
  • NON-RESIDENTIAL
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By GEOGRAPHY
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • UK
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Thailand
    • Malaysia
    • Indonesia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Argentina
    • Rest of LAMEA
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Key Market Players

AXIALL CORPORATION, ARMSTRONG METALLDECKEN AG, NICHIHA CORPORATION, JAMES HARDIE PLC, TATA STEEL LIMITED, ETEX GROUP, CSR BUILDING PRODUCTS, ALCOA INCORPORATED, ACME BRICK COMPANY, BORAL LIMITED

Analyst Review

Claddings can be defined as the materials used to cover the exterior of the structure. The global claddings market is estimated to witness significant growth during the forecast period. Increase in urbanization and growth in consumer expenditure are some of the key factors that drive the claddings industry. One of the key factors driving the global claddings market is government regulations towards zero energy buildings. A zero-energy building (ZEB) is a residential or commercial building with highly reduced energy needs through efficiency gains such that the balance of energy needs can be supplied with renewable technologies. As the energy used by the building sector continues to increase there is an increase in need to regulate this energy consumption by designing buildings that can offset the growth in energy demands. The U.S. Department of Energy (DOE) has established an aggressive goal to create the technology and knowledge base for cost-effective zero-energy commercial buildings (ZEBs) by 2025. One of the efficient ways of reducing the energy consumption is by installing energy efficient cladding. Energy efficient cladding systems offer a higher thermal resistance and fewer thermal breaks than typical cladding systems, so less energy is required to heat and cool the building. Some of the most common energy efficient systems available in the claddings market are exterior insulation and finish systems (EIFS) and insulated metal wall panels. EIFS is a lightweight cladding that can emulate the appearance of numerous building materials, including brick, stone, metal panels, siding, and stucco. It can also be used as a retrofit over existing claddings. Compared to other cladding materials EIFS is a cost-effective system in terms of both materials and installation costs.

Author Name(s) : Nikhil Dasyam | Sonia Mutreja

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Claddings Market

Global Opportunity Analysis and Industry Forecast, 2014-2022