North America Rainscreen Cladding Market Size, Share & Trends Analysis Report By Raw Materials (Fiber Cement, Composite Material, Terracotta, Ceramics), By Application, By Country, And Segment Forecasts, 2020 - 2028
New York, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Rainscreen Cladding Market Size, Share & Trends Analysis Report By Raw Materials, By Application, By Country And Segment Forecasts, 2020 - 2028" - https://www.reportlinker.com/p06134869/?utm_source=GNW
North America Rainscreen Cladding Market Growth & Trends
The North America rainscreen cladding market size is expected to reach USD 54.9 billion by 2028. The market is expected to expand at a CAGR of 6.3% from 2020 to 2028. Increasing demand for enhanced moisture management and energy-efficient solutions for commercial buildings are expected to drive the market.
The market growth can also be attributed to the shift in the trend toward protecting exterior walls and the growth in the construction of non-residential buildings, which include offices and institutions. Moreover, the growing demand for single-family and multi-family housing units coupled with increasing trends for energy-saving structures are expected to support the market in the projected time.
Ceramic and composite material panels are widely used in the rainscreen cladding industry.Composite materials are gaining high growth owing to the factors such as high durability, lightweight, and low cost.
Insulation materials are used to provide thermal insulation to the building. Also, the materials provide the moisture control system in the rainscreen cladding structure.
Technological development in the assembly and installation processes by prominent players set a benchmark and heighten the competitive scenario by making it difficult for other players to penetrate the market. However, many players are unable to provide solutions for complex building designs, especially in cases when the manufacturing of cladding is tricky.
North America Rainscreen Cladding Market Report Highlights
• The metal segment is expected to witness a revenue-based CAGR of 7.2% from 2020 to 2028, owing to the products’ superior fire resistance property and durability
• The office construction application segment dominated the market and accounted for the largest revenue share of 31.3% in 2020. The segment is anticipated to ascend at a CAGR of 6.6% in the projected time
• The U.S. accounted for the largest revenue share of 78.8% in 2020 owing to a wide demand for rainscreen products in office construction and commercial buildings across the country
• The COVID-19 outbreak in Mexico impacted the manufacturing and construction operations in 2020. Moreover, low construction spending in the country has slightly impacted product demand
Read the full report: https://www.reportlinker.com/p06134869/?utm_source=GNW
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