Wilmington, Delaware, United States, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - A study by Transparency Market Research (TMR) notes that the global non-combustible cladding market is prognosticated to reach a value of US$ 264.8 Bn by 2031. Furthermore, the study highlights that the market is expected to grow at a CAGR of 6.2% during the forecast period, from 2022 to 2031.
In non-combustible cladding, different types of materials such as steel, aluminum, fiber cement, and concrete and bricks are being utilized. Among all, the demand for products developed using aluminum is being increasing owing to its ability to offer a higher strength-to-weight ratio, which assists in producing panels that are sturdy and less bulky. Hence, rise in the demand for aluminum-based products is expected to play important role in the overall development of the global non-combustible cladding market during the forecast period.
Players in the non-combustible cladding market are focusing on the use of different strategies such as mergers, acquisitions, and product portfolio expansions in order to gain leading market position. Such efforts are expected to help in the rapid expansion of the fireproof cladding market share during the forecast period.
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Non-combustible Cladding Market: Key Findings
- The popularity of non-combustible cladding & facade systems is being increasing in the recent years owing to their fire-resistant nature and ability to structure walls from different types of fires. Thus, a rise in the demand for these systems is expected to lead to profitable future of non-combustible cladding market.
- Fireproof cladding materials including fiber cement are being increasingly used as they do not ignite or promote fires on exposure to direct flames. Moreover, fiber cement is gaining impetus owing to its ability to protect against fire. Hence, the demand for such fire-resistant materials is being increasing in the recent years. This factor is fueling the application of building cladding systems in the construction sector. Hence, the expansion of the construction industry is expected to fuel the sales growth in the non-combustible cladding market during the forecast period.
- The government authorities of several developed and develop countries are executing stringent regulations pertaining to the fire safety. Moreover, many nations from the U.S. and Europe are banning the use of combustible cladding materials. These factors are bolstering the global market, states the fireproof insulation market analysis by TMR.
Non-combustible Cladding Market: Growth Boosters
- The market demand for non-combustible cladding is expected to surge during the forecast period owing to increase in the use of fire-resistant cladding materials globally
- Surge in the use of esthetically attractive non-combustible cladding materials is fueling the growth prospects in the global non-combustible cladding market
Non-combustible Cladding Market: Regional Analysis
- The non-combustible cladding market is expected to gain significant business opportunities in North America during the forecast period owing to factors such as increase in the execution of strict regulations pertaining to the fire safety and surge in the use of cladding materials in the region
- The Asia Pacific non-combustible cladding market is anticipated to expand at noteworthy pace in the near future owing to rise in the regional population and surge in the investments by regional governments on infrastructure development activities
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Non-combustible Cladding Market: Key Players
Some of the key players profiled in the report are:
- Rockwool International A/S
- 3A Composites GmbH
- Saint-Gobain Construction Products UK Limited
- Knauf Gips KG
- Guttercrest Ltd
- Ash & Lacy Holdings Ltd.
- James Hardie Europe GmbH
- Interplast Company Limited
- Qora Cladding
- OLAM
- Sistemas Técnicos del Accesorio y Componentes S.L.
- Seven Trust
- Valcan
Non-combustible Cladding Market Segmentation
- Type
- A1 Material
- A2 Material
- Material
- Aluminum
- Steel
- Concrete and Bricks
- Fiber Cement
- Others
- Application
- Exterior
- Interior
- End-use
- Residential
- Commercial
- Industrial
- Distribution Channel
- Direct Sales
- Indirect Sales
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