The U.S. construction industry is experiencing growth on account of increasing residential and non-residential renovation and new construction activities. Single-family housing construction in the U.S. witnessed a growth of over 7.3% from 2015 to 2016, reaching 560,798 housing units. Two family housing systems in the country witnessed over 8.4% growth from 2015 to 2016. In the same year, the market for five or more family housing systems declined by 7.7%. In 2017, the contribution of construction industry to the country’s GDP was the highest in the past seven years. In 2018, construction industry in the U.S. exhibited a similar growth trend as that in 2017. The industry accounted for a major share of the country’s overall GDP and was valued at over USD 641.4 billion in the second quarter of 2018. It is expected to grow at a CAGR of over 5% over the projected period.
Surging construction expenditure in developing countries of Asia Pacific and the Middle East, due to the rising population paired with great economic and industrial development is predicted to positively impact the demand for rainscreen cladding over the forecast period. Governments of developing nations have offered substantial amount of capital to make an investment in public infrastructures such as building offices, hospitals, and housing societies. The development of private sector construction firms in China, India, and the UAE is predicted to additionally contribute to the construction expenditure over the upcoming years. China observed a slowdown in construction sector in 2015. However, the country’s evolution toward consumer- and service-driven economy has been offering sufficient and profitable growth opportunities in novel construction activities across numerous end-use industries such as education & social infrastructure, healthcare, and retail. Elimination of one-child policy in China is also likely to offer boost to construction activities in the region in the upcoming years.
Rainscreen cladding market is predicted to be adversely impacted by huge initial installation cost and maintenance problems. The inclination towards hide primary flashing elements behind the cladding components restricts the chance to carry out daily maintenance or assess the materials in terms of their performance without eliminating panels. Danger of failure subsists if the structural components are not monitored and preserved on a regular basis. The sealant joints require a systematic check in order to hold the outer panels and seal between air and water barrier of the system. For typical open-joint systems, the cladding components gain advantage from the ventilation formed through the open joints between panels, revealing the same components to exterior conditions and generating inherent performance issues.
This section will provide insights into the contents included in this U.S. rainscreen cladding market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Market drivers and restraints
Key market opportunities prioritized
Latest strategic developments
Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance
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