The global cladding market is witnessing a huge growth due to increased construction projects - both residential and non-residential buildings. Since, the Grenfell Tower fire incident where exterior claddings lead to the aggressive spread of fire, authorities have been quick to charter safety and health regulations. Moreover, rising concerns about the fire-safety of claddings and its health effects on the inhabitants of the building has lead to the development of new cladding materials in compliance with regulations. Along with safety, customers are seeking energy efficient claddings to reduce energy costs giving rise to large potential growth opportunities in the market.
What are Cladding Systems?
Cladding refers to the addition of certain components attached to the basic structure of a building, usually made from metal, vinyl, composite materials, bricks, wood and other materials. The function of cladding could be to provide thermal and sound insulation between the interior and exterior, or for aesthetic purposes, and most importantly, shield the interior from external weather conditions.
Market Research and Market Trends of Cladding Systems Market
- The need to develop robust, light-weight and energy efficient cladding solutions which are compliant with various regulations became even more vital after the Grenfell tower fire incident. Claddings are becoming increasingly regulated globally, due to growing safety concerns over it being fire-proof.
- Kinetic facades, also known as dynamic facades are the trending innovations in the cladding systems market. The structural design is made to be responsive to external weather conditions for energy efficiency, extract solar energy or for beautification.
- Introduction of weathering steel, trademarked COR-TEN steel, which doesn’t require to be painted or be applied with corrosion resistant coatings, has led to reduction in maintenance costs.
Who are the Major Players in Cladding Systems Market?
The key players in the manufacturing of various claddings are Tata Steel Limited, ArcelorMittal S.A., Alcoa Inc., Etex Group and Compagnie de Saint Gobain SA
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Key Takeaways from this Report
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