Market Synopsis
As per Market Research Future (MRFR), the global metal cladding market value exceed USD 3 Bn by the end of the assessment period. The metal cladding market can witness expansion at 4.4% CAGR in the forecast period. The metal cladding market is observed to be highly competitive due to the existence of a high numbers of key market players. The increase in focusing of producers in merger and acquisition to sync with global demand can promote the expansion of the metal cladding market. The expansion of the metal cladding market can be attributed to increase in customer spending power in economies, such as India, US, Brazil, and GCC countries.
Furthermore, application of metal as cladding offers harmonious, durable, and modern appearance of building, such benefits. The high demand for metal cladding driven by rise in building construction activities and increase in awareness about metal cladding benefits among homeowners can promote the expansion of the metal cladding market. Growing urbanization, increased new residents, high commercial construction projects and globalization are fuelling the need for cladding metal panels in the world. Furthermore, the increase in consumer interest for prefinished metal cladding process in constructing and commercial spaces to enhance building’s aesthetic appeal can favor the metal cladding market. On the downside, fluctuation in prices of raw material can hamper the metal cladding market growth.
Key Players
- Saint Gobain S.A
- Dow Du Pont
- Tata steel limited
- Arconic
- Westlake chemicals
- Etex group
- James Hardie industries
Market Segmentation
Type and application are parameters on which the global metal cladding industry segments are based. The global market segments based on material are galvanized steel cladding, aluminum cladding, copper cladding, zinc cladding, brass cladding, titanium cladding, and bronze cladding. The copper cladding segment can dominate the global metal cladding market. The widespread utility of copper as cladding metal due to its benefits, such as malleability and durability can impel the expansion of the market.
The application based segments of the Metal cladding Market are commercial, industrial, and residential. The commercial segment is expected to experience the highest CAGR in the forecast period. The commercial segments are shopping malls centers, office spaces, healthcare, educational centers, and hospitality among others. Commercial Building Construction industry can generate revenue significantly in the years to come can maintain the trend across the forecast period.
Detailed Regional Analysis
North America, Middle East and Africa, Europe, Asia-Pacific, and South America are regional segments of the metal cladding global market. In Asia Pacific region, the metal cladding systems market is likely to maintain hegemony in the assessment period. The rise in construction activities across APAC due to need for work and residential space can boost the expansion of the metal cladding market in the APAC region. The increase in FDI investment in the construction field have generate lucrative growth scope for the metal cladding in the Asia Pacific region. In Europe, the growing need for metal cladding in the automobile sector and the booming aviation industry can support the expansion of the metal cladding market in the region. North America metal cladding market is likely to rise at a high pace in the years to come. The major metal cladding manufacturers and the high demand for cladding can promote the market in North America.
