Rainscreen cladding is a layer of water-repellent material typically found on the exterior of buildings. The two-layer cladding panels are available in various materials, including aluminum, copper, zinc, and stainless steel. The inner layer functions as the building's structural wall, insulation, and additional weather barrier, while the outer layer is designed to discharge water. Since there is a ventilated air space between the two layers, any precipitation that penetrates the outer layer can drain away from the exterior of the building. This protection consists of a bearing wall, an insulating layer, and cladding material affixed by a supporting frame to the structure. This design allows air circulation between the cladding material and the load-bearing wall.
Rising Construction Industry in Emerging Economies Drives the Global Market
The governments of developing nations have contributed a substantial amount of funds to the construction of public infrastructure, like hospitals, offices, and housing societies. Expanding the private construction sector in China, India, and the UAE will substantially increase building expenditures. In addition, the nations of the Middle East have enviable national development plans to diversify their economies and reduce their dependence on diminishing oil and gas reserves. King Abdullah Economic City (KSA), Lusail City (Qatar), Basra New City (Iraq), and Mohammad Bin Rashid City (UAE) are among the region's major initiatives (UAE). Increasing urbanization and global events such as the 2022 FIFA World Cup in the region are also anticipated to increase construction expenditures and demand for rainscreen claddings.
Favorable Government Regulations Creates Tremendous Opportunities
Increasing demand for energy-efficient buildings is anticipated to fuel demand for rainscreen claddings over the forecast period due to stringent government regulations and growing awareness of environmental degradation. It prevents thermal bridging, thereby enhancing energy efficiency and reducing operating costs. The decrease in thermal bridging reduces condensation and improves the interior environment. Favorable government policies and rising awareness will remain the market's primary growth drivers throughout the forecast period. Under the Federal Energy Policy Act of 2005 in the United States, producers of new energy-efficient homes constructed following Federal Manufactured Homes Construction and Safety Standards are eligible for a tax credit of up to USD 2,000. In Europe, additional initiatives have been adopted to promote and encourage energy efficiency. Such favorable government initiatives are anticipated to foster market expansion.
Europe is the most significant global rainscreen cladding market shareholder and is anticipated to exhibit a CAGR of 3.2% during the forecast period. Europe is the greatest consumer of rainscreen cladding because developed economies such as Germany, the United Kingdom, Russia, Italy, and France have significant product demand. Significant construction activity development in Europe has directly translated into increased product demand on the market. In addition, the market is anticipated to be significantly influenced by the growing residential sector due to the accelerating rate of immigration. Due to the vast array of product applications in the residential construction industry, this sector accounted for the largest rainscreen cladding consumption. The development of the region's residential construction activities is anticipated to increase product demand over the forecast period.
North America is estimated to exhibit a CAGR of 4.4% over the forecast period. The increased rate of domestic and international migration in the region is anticipated to increase housing demand, thereby accelerating residential construction. The region is expected to see a significant increase in the number of single-family homes and a decrease in the number of multi-family dwellings over the forecast period. In addition, the market is anticipated to experience a moderate increase in institutional construction over the forecast period. Rising product demand from the commercial sector, such as retail chains, shopping centers, and supermarkets and hypermarkets, is anticipated to drive market expansion over the next few years.
The key global rainscreen cladding market players are Kingspan Insulation plc, Carea Ltd., Celotex Ltd., CGL Facades Co., Rockwool International A/S, FunderMax, Eco Earth Solutions Pvt. Ltd., Everest Industries Ltd., Trespa International B.V., Euro Panels Overseas N.V., Dow Building Solutions, and others.