A recent report by Persistence Market Research on ‘Wall Cladding Materials Market’ provides a detailed analysis on the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
Wall cladding materials primarily act as a protective/insulating layer and shield surfaces from moisture and other harmful external factors. Wall cladding materials also help in enhancing building performance.
Wall Cladding materials are a type of decorative wall covering material that give an entirely give different look to a wall. Further, materials, such as metal, stone, wood etc., give a good texture and aesthetic appeal to a building. There are a variety of of materials that can be used wall cladding materials, such as brick, wood, concrete, metals, stone, etc. Wall cladding materials are used in interior as well as exterior applications.
Global Wall Cladding Materials Market: Segmentation
Globally, the wall cladding materials market can be segmented on the basis of application, construction type, material type and end-use.
On the basis of material type, the global market can be segmented into:
- Fibre Cement
On the basis of construction type, the global market can be segmented into:
- New Construction
On the basis of application, the global market can be segmented into:
- Exterior Cladding
- Interior Cladding
On the basis of end-use, the global wall cladding materials market can be segmented into:
Global Wall Cladding Materials Market: Dynamics
Wall cladding materials possess various advantages as compared to other materials available in the market. For instance, these materials require low maintenance and thus, buildings using these materials also require low maintenance, thereby leading to reduced overall maintenance charges. Further, the utilization of these materials makes these buildings more durable than buildings finished with wall paint. Wall cladding materials also make buildings weather proof as these materials offer strong resistance against external weather conditions, such as sunlight, rain and wind. Thus, the demand for wall cladding materials is expected to escalate in near future.
However, wall cladding materials possess several disadvantages. For instance, these materials are quite expensive and require high labour cost. The aforementioned reasons are expected to be the key factors that will restrain the growth of the global wall cladding materials market during the forecast period.
Introduction of lightweight cladding materials, such as aluminium composite panels for external applications, is found to be one of the key trends identified in the global wall cladding materials market. Aluminium is UV and weather resistant. Moreover, it enables quick installation while also being versatile to be used for canopies, false ceilings and partitions.
Global Wall Cladding Materials Market: Regional Outlook
Based on regions, the global wall cladding materials market is anticipated to be dominated by the Asia-Pacific region and will be supported by surging demand from countries, such as China, India and Japan, etc. Growing population and urbanization are anticipated to assist the demand for construction activities, which in turn, will escalate the consumption of these materials in the region. The Asia-Pacific market is expected to be followed by North America over the forecast years. North America, in the global market, is expected to grow at a moderate rate over the forecast years. North America is anticipated to be followed by Western Europe. Consumption of wall cladding materials in European region is expected to grow at a fast pace in near future. Latin America and Middle East & Africa are expected to account for a small share. However, the demand is expected to grow at a good pace over the next decade.
Global Wall Cladding Materials Market: Market Participants
Some of the key players involved in the global market include All American Exterior Solutions, WFM, 3A Composites GmbH, James Hardie Australia Pty Ltd., Mitsubishi Chemical Corporation, Yaret Industrial Group Co., Ltd., Jyi Shyang Industrial Co., Ltd., Shanghai Huayuan New Composite Materials Co., Ltd. and Jindal Mechno Bricks Private Limited.