Cladding Panels Market: Introduction
- The word cladding means protection or cover over a material or structure. Cladding panels are construction materials that form a coating over a building wall to protect it from harmful weather and atmospheric heat. A cladding panel consists of multiple layers to protect a wall from damage. Apart from providing protection to building walls, these panels also enhance the external appearance of a building. This is estimated to boost the demand for cladding panels during the forecast period.
Key Drivers and Opportunities of the Global Cladding Panels Market
- A prominent feature of cladding panels is to protect a building wall from fire. Thus, fire-retardant cladding panels are increasingly being used. Demand for non-combustible cladding panels is increasing across the world. Furthermore, rise in construction of residential and commercial establishments is further propelling the demand for cladding panel. This, in turn, is expected to boost the market in the near future.
- Cladding panels help in the protection of outer surfaces of the residential and non-residential buildings from wind, rain, and dust. Furthermore, cladding panels are changing the taste and preference of consumers who are opting for modernization of their households and commercial buildings. This is estimated to fuel the demand for cladding panels during the forecast period.
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- Rise in residential and commercial construction activities in developing countries and increase in disposable income of consumers are projected to drive the demand for cladding panels in developing countries during the forecast period
North America to Hold Major Share of Global Cladding Panels Market
- In terms of geography, the global cladding panels market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is expected to be a prominent region of the global cladding panels market during the forecast period. Construction of residential and commercial buildings is rising in the U.S., which in turn is fueling the demand for multi-family buildings. Thus, a rise in building construction is propelling the demand for cladding panels in the U.S. and other countries in the region.
- Furthermore, demand for cladding panels in Asia Pacific is anticipated to rise at a considerable pace due to a rise in the construction activities in developing countries of Asia Pacific, particularly India and China
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Key Players Operating in Global Cladding Panels Market
- Aludecor Lamination Pvt. Ltd.
- American Building Technologies Inc.
- Fairview Europe Ltd.
- GIMA GIRNGHUBER GMBH
- Likeair Architectural Pty Ltd.
- Maxgrow Pte Ltd.
- Mitsubishi Chemical Corporation
- Seven International Sdn Bhd
- Wenzhou Jixiang Composite Panel Co., Ltd.
- Xella Group
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