North America Cladding Systems Market to Generate Sales of US$ 115.5 Billion By 2031 | Astute Analytica

CHICAGO, UNITED STATES, September 19, 2023/ -- North America cladding systems market size was US$ 63.0 billion in 2022 and is estimated to reach a valuation of US$ 115.5 billion by 2031, growing at a CAGR of 7.21% during the forecast period from 2023 to 2031.

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Over the past few years, there has been a considerable shift in the market for cladding systems in North America. The market's expansion is principally due to the wide variety of goods and services offered, the building industry's ongoing development, and the use of recyclable and sustainable materials.

The increasing focus on energy efficiency and sustainability in building development is one of the key factors propelling the North American cladding systems market. Insulation and temperature control are important aspects of cladding, resulting in less energy being used by heating and cooling systems. According to recent estimates, buildings are responsible for roughly 40% of the country's energy use. By 2030, the U.S. Department of Energy aimed to cut the energy consumption of buildings by 50%. These objectives have made it possible for large investments to be made in the cladding sector. Therefore, this factor is favorably influencing the cladding systems market in North America.

Urbanization and sustainability are the main commercial forces influencing cladding systems in North America. Consequently, the demand for high-rise structures and sophisticated cladding solutions has been driven by the growing urban population, which is likely to increase by almost 20% by 2030 in North American cities. Retrofitting ancient buildings is becoming important, which has significant market potential. The average age of commercial buildings in the U.S. is over 53 years old, according to a 2021 study, and they probably need to repair or improve their cladding.

Ceramics Material Accounted for 26% of Market Revenue Share

The ceramic segment takes the lead in the North American cladding systems market. Due to its popularity in the market, which is multifaceted and deeply based on the inherent qualities of the material, ceramic cladding is expected to grow at the highest CAGR of 8.5% in the years to come, accounting for an outstanding 25.8% of the market share in 2022.

Ceramic offers the best protection from various outside elements because it combines strength and lifespan. Additionally, the material's inherent resistance to moisture and weathering guarantees that it is unaffected by the worst environmental conditions, resulting in reduced maintenance needs and increased life. These elements of durability, along with ceramic's flexibility for exterior walls and roofs, support the material's hegemonic position in the market.

Walls Type Generated More Than 50% of Market Revenue Share

With a sizeable market share of 60.9% in 2022, the wall category has firmly established its supremacy. Since the segment is anticipated to develop at the highest CAGR of 7.5% throughout the projection period, this dominance is also a sign of future trends.

The visual appeal of a building is greatly influenced by the wall cladding, which also offers protection from various environmental elements like rain, wind, and sun. In modern architecture, a building's exterior serves as more than just a protective covering; it serves as a blank canvas on which to paint a design philosophy, cultural influences, and contemporary aesthetics. In the North American cladding systems industry, wall cladding's dual function as a decorator and protection solidifies its top ranking.

United States Captures Maximum Share of 83% of the Market Revenue

The dominating U.S. presence dominates the whole North American cladding systems market, accounting for an enormous 83% of the total market. The United States has set aside an estimated $1.8 trillion for construction-related costs in 2022. Around $450 billion of this amount was devoted to the construction of new industrial and commercial complexes. The country's economic vitality and push for urbanization have increased demand for new, cutting-edge buildings, which is further fueling the market.

In 2023, the U.S. government will invest over $1.25 trillion in infrastructure, a foundation for any flourishing economy. Given their sustainability and resilience, cladding systems have been integrated into this infrastructure story. In addition to new constructions and renovations, the residential sector has a major impact on the cladding systems industry in the United States. A total of almost $900 billion will have been spent on building in the private residential sector as of 2022.

A large portion of the ecology of the cladding systems market is also made up of already-existing structures. With its extensive architectural heritage, the United States is home to several structures that need renovation or retrofitting. The nation spent about US$ 200 billion on renovation and repair initiatives in 2022 alone. An important part of this is played by cladding systems, which give older buildings a modern gloss while preserving their durability for years to come.

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Competitive Landscape

Due to the presence of numerous regional competitors, the North American cladding system industry is competitive. There are not many businesses operating on a worldwide scale. Arconic, Dow Inc., Kingspan Group PLC, and SFS Group are a few of the market's top competitors.

List of Prominent Players Profiled

โ€ข AltusGroup
โ€ข Arconic
โ€ข Centria (Nucor)
โ€ข Cladding Corp
โ€ข Cladify
โ€ข Dow Inc.
โ€ข Etex Group
โ€ข Kingspan Group PLC
โ€ข Knauf
โ€ข OmniMax International, Inc.
โ€ข Saint Gobain
โ€ข Rieger Architectural Products
โ€ข SFS Group
โ€ข Shildan, Inc.
โ€ข Sto SE & Co. KGaA
โ€ข Tata Steel
โ€ข Trespa International B.V.
โ€ข Other Prominent Players

Segmentation Outline

The North America cladding system market segmentation focuses on Material, Type, Installation Methods, Finish, Project Type, End-User, and Country.

By Material
โ€ข Ceramic
โ€ข Brick & Stone
โ€ข Metal
โ€ข Wood
โ€ข Vinyl
โ€ข Stucco & EIFS
โ€ข Fiber Cement
โ€ข Others (Concrete, Weatherboard, Glass, HPL)
By Type
โ€ข Walls
o Exterior
o Interior
โ€ข Roofs
โ€ข Others (Vents and Gutters)
By Installation Methods
โ€ข Wet Cladding Systems
โ€ข Dry Cladding Systems
โ€ข Panelized Systems
By Finish
โ€ข Matte
โ€ข Gloss
o High Gloss
o Semi-Gloss
By Project Type
โ€ข New Construction
โ€ข Retrofit
By End User
โ€ข Residential
o Custom Home
o Luxury Home
o Multi- Family Homes
o Student Housing
o Others
โ€ข Non- Residential
โ€ข Commercial
๏‚ง Offices
๏‚ง Restaurants
๏‚ง Hotels & Hospitality
๏‚ง Community Center
๏‚ง Convenience Store
๏‚ง Dorm
๏‚ง Education & Institutional
๏‚ง Entertainment Facility
๏‚ง Recreation & Event Center
๏‚ง Municipal
๏‚ง Retail
๏‚ง Credit Union / Bank
๏‚ง Religious Buildings
o Others
โ€ข Industrial
๏‚ง Distribution Center/Warehouse
๏‚ง Manufacturing Facility
๏‚ง Water Treatment Plant
๏‚ง Data Centers
๏‚ง Medical & Health Care
๏‚ง Marine
๏‚ง Cold Storage Facilities
๏‚ง Others
๏‚ง Infrastructure
๏‚ง Airports
๏‚ง Railway Stations
๏‚ง Bridges
๏‚ง Tunnels
๏‚ง Museums and Cultural Centers
๏‚ง Others
๏‚ง Government
o Others
By Country
โ€ข The U.S.
โ€ข Canada
โ€ข Mexico

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Aamir Beg
Astute Analytica
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