The Global Rainscreen Cladding Market size was $103.3 billion in 2020 and is expected to reach $206.6 million by 2030, registering a CAGR of 6.0% from 2021 to 2030. In 2020, Europe region dominated the global rainscreen cladding accounting for 36.49% share of the market.
The key players profiled in the market report include Rockwool International A/S, Kingspan Group, Sika AG, SFS Group AG, CGL Systems Ltd, Trespa International B.V., Valcan, Sotech Optima ALL, The Clarison Group Ltd (Alucraft Ltd), and Euro Panels Overseas N.V.
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The report analyzes the global rainscreen cladding market on the basis of material, application, construction, and region. The materials covered in this report are composite material, metal, fiber cement, ceramic, and others. The applications taken into consideration in the report are residential, commercial, and industrial. By construction, the market is bifurcated into new construction and renovation. The market is driven by development in residential, commercial, and industrial sectors and economic growth globally. However, fluctuation in raw material prices is anticipated to hamper the growth of the market.
In 2020, based on material, the composite material segment dominated the global rainscreen cladding market, accounting for the largest share of the global rainscreen cladding industry, followed by others and metal segments. Moreover, the market in Asia-Pacific is growing with high CAGR, owing to urbanization and economic development in the developing countries such as Japan, China, the U.S, and others.
A growth in residential and commercial industry drives the demand for rainscreen cladding products; thereby, fueling the rainscreen cladding market growth. Increase in residential and non-residential construction and construction renovation industry drives the demands of the rainscreen cladding. In addition, rise in construction spending in countries such as India, Germany, Japan, the U.S., and others boosts the growth of the market. For instance, expenditure on private construction activities by the U.S. government increased by over 50% and that on public construction grew by over 20% from 2012 to 2020.
COVID-19 has already affected the sales of global rainscreen cladding market share in 2020, and is expected to hamper the growth of the global market. The major demand for rainscreen cladding was badly affected due to the spread of COVID-19 virus. Further, the disruption of supply chains hinders the installation of rainscreen cladding products in the commercial and residential buildings.
However, one of the major restraints for the global rainscreen cladding is fluctuation in raw material prices and unreliability in harsh weather condition. Conversely, increase in construction of green building is predicted to offer lucrative opportunities for the global rainscreen cladding market development.
Several manufacturers in the global rainscreen cladding stopped their business activities due to lockdown implemented in developed and developing countries, owing to ban on construction activities. This halt in production activities impacted the revenue of the rainscreen cladding manufacturing companies. For instance, net sales of Sika AG dropped by 2.9% from January 2020 to December 2020. In addition, lack of man power and raw materials affected the supply chain of the global rainscreen cladding. However, the market is projected to cover from the 1st quarter of 2021, due to the reduced restrictions and reopening of the global rainscreen cladding industry. Moreover, in 2021 with the availability of vaccine against COVID-19, the global rainscreen cladding is expected to gradually witness growth.
The global rainscreen cladding is segmented on the basis of material, application, construction, and region. Based on material, the market is segmented into composite material, metal, fiber cement, ceramic, and others. The composite material segment dominated the market in 2020. Based on application, the market in divided into residential, commercial, and industrial. The commercial segment dominated the market in 2020. Based on construction, the market is divided into new construction, and renovation. The renovation segment dominated the market in 2020.
Regionally, the market analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Europe generated the highest revenue in 2020.
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