Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSIntroduction
Rainscreen cladding is considered to be one of the most efficient cladding systems for the purpose of construction envelope. This is a type of double wall construction that utilizes a surface in order to keep the rain out, prevent excessive air leakage and others. The panels of cladding are basically made up of copper, zinc, aluminum and stainless steel. There are two layers in rainscreen cladding, the inner layer serves multiple functions such as extra weather barrier, insulation and others, whereas, the outer layer is designed to shed water. The rainscreen structure basically consists of a backing wall, a vapor control layer, an insulation, a panel support system, panels and panel joints. Additionally, this system helps to control the temperature inside the building as when these systems are installed, rain does not come in contact with the building and hence, temperature inside the building is not be affected.
Market Size and Forecast
The demand for energy efficient building and need for exterior wall protection is rising rapidly. Increase in construction works of residential as well as non-residential buildings in the developed and developing nations is projected to lead to the growth of rainscreen cladding market in the upcoming years. The global rainscreen cladding market is anticipated to record a significant CAGR throughout the forecast period, i.e., 2020-2028. The market is segmented by construction, by raw material, by end user and by region. The market is segmented on the basis of raw material into metal, terracotta, high-pressure laminates, fiber cement, composite material and others, out of which, the composite material segment is anticipated to hold the largest market share on the back of durability and high strength. They are considered to be the most preferred material in residential and non-residential buildings owing to the easy installation techniques and low cost.
Growth Drivers
Increasing natural calamities to raise the demand for rainscreen cladding system
The need for rainscreen cladding is rising rapidly, owing to the increase in the occurrence of natural calamities such as tsunami, wildfires, hurricanes and others. Additionally, emergence of new companies and a surge in industrialization are some factors estimated to increase the growth of rainscreen cladding market over the forecast period.
Rising constructions activities globally to drive the growth of the market
There is a high growth in the global rainscreen cladding market owing to the increasing construction activities. Rise in the consumers’ disposable income, specifically in the nations which are developing, is one of the key factors contributing towards the remodeling and renovation activities. This factor is predicted to play a significant role in expansion of the market size. CLICK TO DOWNLOAD SAMPLE REPORT
Rising energy crisis and high pollution levels to influence the overall market growth
Huge innovations and advancements are taking place in the industries in order to manage the situations for high pollution levels and energy crises. As rainscreen cladding systems have the capability to manage numerous aspects consisting of heat transfer inside the building, negative wind pressure, water and air filtration, vapor transmission and others, this will ultimately result in the growth of the rainscreen cladding system market in the upcoming years.
Restraints
Disadvantages associated with rainscreen cladding to limit the growth in the upcoming years
Rainscreen cladding has several advantages such as managing negative wind pressure, water, air filtration and others. Despite having these many advantages, there are some factors that are estimated to hamper the market growth in coming years. Owing to high price of installation, labor force along with repair, the market growth is predicted to be hampered tremendously, thereby affecting the need for rainscreen cladding material in the coming years.
Market Segmentation
Our in-depth analysis of the rainscreen cladding market includes the following segments:
By Construction
By Raw Material
By End User
By Region
On the basis of regional analysis, the global rainscreen cladding market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe is anticipated to hold the largest market share on the back of presence of nations such as Germany, France, UK, Italy and Russia. This can be attributed to the high growth of the construction opportunities in these countries. Additionally, increasing investments in the infrastructure sector as well as rising new housing units are estimated to grow the rainscreen cladding market in the region during the forecast period. On the other hand, the market in North America is anticipated to gain a significant market share on the back of rising residential building construction projects. The companies located in the United States provide solutions in order to maintain and install several panels in various institutions as well as buildings.
The rainscreen cladding market is further classified on the basis of region as follows:
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