The global rainscreen cladding market size is projected to reach USD 17,179.1 million by 2027, exhibiting a CAGR of 7.3% during the forecast period. Booming growth in the global construction industry will drive the progress of this market, finds Fortune Business Insights™ in its new report, titled “Rainscreen Cladding Market Size, Share & Industry Analysis, By Material (Composite Material, Metal, Terracotta, Fiber Cement, High Pressure Laminate, and Others),
As per the report, the market value stood at USD 10,099.8 million in 2019. It also contains the following:
- In-depth analysis of all the market segments;
- Detailed evaluation of the market drivers, trends, and hindrances;
- Accurate projections of the upcoming market opportunities; and
- Comprehensive examination of the regional developments and competitive dynamics of the market.
Markt Restraint
The novel coronavirus has triggered a damaging global economic downturn and has affected activities in numerous sectors, including building and construction. According to the European International Contractors group, construction output is likely to decline between 20% and 40% as a result of the COVID-19 outbreak. Moreover, governments in many countries have imposed partial or complete lockdowns as they struggle to devise an effective plan to battle the pandemic as well as revive the economy simultaneously. Worker-absenteeism at construction sites has spiked in the past couple of months due to concerns surrounding catching the infection. For instance, the Confederation of Real Estate Developers’ Association of India (CREDAI) reported that over 30% of construction workers have been staying away from sites, fearing getting infected by the virus. In sum, the rainscreen cladding market growth will be moderate in 2020 as the COVID-19 outbreak has stalled construction projects around the world.
Competitive Landscape
Key players in this market are breaching established frontiers of innovation and creating products that align with the present need of boosting energy-efficiency of buildings in urban areas. Launch of advanced and sustainable solutions is aiding these companies to cement their position in the market and gain a decisive edge against other competitors.
Industry Developments:
- September 2019: The Swiss chemical major, Sika AG, expanded its Vertical Glass series of products by introducing the SikaTack® Panel-50. The new offering features a neutral curing silicone, which has superior mechanical strength and high elasticity. Aesthetically pleasing, the solution also ensures indoor comfort and promotes energy-efficiency of the building.
- July 2019: NVELOPE, a subsidiary of the Switzerland-based SFS Group, engineered the NVF2F vertical cladding support system that facilitates quick installation of floor-to-floor placement of rainscreen facades. The rail system and the high-strength aluminum bracket also enhances the vertical strength of the rainscreen cladding.
List of Key Companies Covered in this Market Report:
- Dow (U.S.)
- FunderMax (Austria)
- Merson Group (U.S.)
- SFS Intec (Switzerland)
- ROCKWOOL International A/S (Denmark)
- Trespa International B.V. (Netherlands)
- Carea Group (France)
- Sotech Optima Company (UK)
- Kingspan Group (Ireland)
- Sika AG (Switzerland)
Information Source: – https://www.fortunebusinessinsights.com/rainscreen-cladding-market-102809
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