The global fiber cement rain-screen panels market is likely to witness a high growth on account of cost-effectiveness, high durability, and low maintenance cost of these panels. Fiber cement is manufactured using cement, cellulose fiber, pulverized limestone, and water. These panels are increasingly being accepted in the rain-screen cladding market as they are weatherproof and can easily resist high-pressure winds and rainwater. Additionally, fiber cement is fireproof, making it one of the most suitable raw materials for manufacturing rain-screen cladding panels.
Panels manufactured using fiber cement are available with an average width ranging from 130 mm to 300 mm and an average thickness ranging from 4.15 mm to 18 mm. Fiber cement panels are commercially available in various colors and shapes, which helps improve the aesthetic appeal of the construction structure. Furthermore, these panels can be colored or textured according to the requirements of the project, even after their installation. The average lifespan of fiber cement panels is 40 to 50 years. Thus, the demand from rain-screen cladding manufacturing is likely to witness growth over the forecast period.
Increasing demand for energy-efficient buildings, owing to stringent government regulations and rising awareness regarding environmental degradation, is anticipated to fuel the fiber cement rain-screen panels market growth over the projected period. These fiber cement rain-screen panels systems are expected to gain wide acceptance globally owing to several other benefits such as superior thermal insulation, improved external appearance, and acoustic performance of the buildings.
In the U.S., as per the Federal Energy Policy Act 2005; a tax credit of up to USD 2,000 is provided for builders of new energy-efficient homes constructed as per the Federal Manufactured Homes Construction and Safety Standards. The new government regulations to promote the use of energy-efficient building and construction materials is expected to propel the demand for the product over the forecast period.
The fiber cement rain-screen panels market faces intense competition from the alternative rain-screen panel materials including terracotta, metal, high-pressure laminates, and composite materials. Aluminum composite materials have witnessed high penetration in the market. However, the fire mishap happened in Grenfell Tower fire in London in 2017 coupled with few other cases of such accidents such as South Korean fire incidence in Jecheon in December 2017, and the fire at the Lacrosse Building in Melbourne in 2014, has impacted the rain-screen cladding market trends significantly. In a majority of these cases, the cladding material was aluminum composite panels with a polyethylene base. Hence, the demand for these products is expected to get hampered. This trend is expected to create scope for the fiber cement rain screen panel market manufacturers to tap the market space of composite cladding.
The residential segment is anticipated to register strong demand for fiber cement rain-screen panels owing to the low price and low maintenance cost. Rising awareness regarding energy-efficient constructions, the need for renovation of old buildings, increasing over-cladding activities, and government regulations for green buildings are expected to propel the demand over the forecast period. The fiber cement panels used in residential rain-screen cladding are available in a variety of colors and textures, thus fulfilling the demand from end-users. The fiber cement rain-screen panels market manufacturers are also engaged in producing customized panels as per the requirement of the building construction. These factors are expected to drive product demand from residential applications over the projected period.
Increasing construction spending in emerging economies from the Asia Pacific and the Middle East owing to rising population coupled with strong economic and industrial development is expected to positively affect the product demand over the forecast period. Governments from emerging countries have provided a considerable amount of capital to invest in public infrastructures such as building hospitals, offices, and housing societies. The emergence of the residential construction sector in China, India, and UAE on account of improving standards of living, consumer spending capabilities, and changing lifestyles are expected to contribute to construction spending over the years to come.
Prominent players operating in the fiber cement rain-screen panels market include James Hardie Industries plc, Etex Group NV, Saint Gobain SA, Evonik Industries AG, and Troy Industries. Product improvement is one of the major business strategies adopted by manufacturers.
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The global construction industry once booming due to the residential and commercial construction in China and the U.S., has been affected by the suspension of the construction activities across the impacted economies. The construction industry in the U.S. is expected to take a major hit due to labor shortages and the lockdown imposed by the government during COVID-19, which is expected to be aggravated by the resulting supply chain issues and financing pressures due to the non-adherence to the completion times. The report will account for Covid19 as a key market contributor.