Fiber Cement Rainscreen Panels Market Trends

Growth Drivers

• Rising Concern About Environmental Changes – The rising concern about the increasing global carbon footprint and rapidly depleting natural resources are creating opportunities for those products that are environmentally friendly and can reduce future emissions, address global warming, and preserve the environment. According to the findings, the construction industry is the major employer of the world’s raw materials and natural resources and is responsible for 39% of the world’s carbon emissions.
• Increasing Investment in Energy-Efficient Buildings – With the growing consumer attention and stringent expectations to meet the net zero by 2050 goals, the worth of investments in energy-efficient buildings worldwide is expanding. In 2022, the global investment in energy-efficient buildings touched more than USD 200 billion. These panels result in the reduction of energy consumption through thermal insulation and minimized heat loss.
• The Innovations in Architectural, Engineering, and Construction Industries – The augmenting urbanization and the increasing standard of living of people worldwide are raising the bar for designing the fine architecture of a building with the application of more appealing, aesthetic, and advanced materials in new construction. These modifications are anticipated to propel the demand for fiber cement rainscreen panels in the construction & building sector.

Challenges

• High Cost – the upfront cost of fiber cement rainscreen panels is expensive as the material is more complex and challenging to work with. The hike in the rate of the overall installation cost is a major restraining factor hampering the market growth.
• Problems of Panel Damage, Rot, and Molds
• Lower Awareness About Advanced Materials