South Korea Rainscreen Cladding Market Size & Outlook
South Korea rainscreen cladding market, 2018-2030 (US$M)
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South Korea rainscreen cladding market highlights
- The South Korea rainscreen cladding market generated a revenue of USD 2,510.6 million in 2023 and is expected to reach USD 3,920.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.6% from 2024 to 2030.
- In terms of segment, terracotta was the largest revenue generating raw material in 2023.
- Metal is the most lucrative raw material segment registering the fastest growth during the forecast period.
Rainscreen cladding market data book summary
| Market revenue in 2023 | USD 2,510.6 million |
| Market revenue in 2030 | USD 3,920.4 million |
| Growth rate | 6.6% (CAGR from 2023 to 2030) |
| Largest segment | Terracotta |
| Fastest growing segment | Metal |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fiber Cement, Composite Material, Metal, High Pressure Laminates, Terracotta, Ceramic, Other Raw Materials |
| Key market players worldwide | Kingspan Group PLC, Compagnie de Saint-Gobain SA, Rockwool AS Class B, Fundermax, Nucor Corp, Dow Building Solutions, CAREA, CGL Systems, EcoEarth solutions, OmniMax International, Middle East Insulation |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.7% of the global rainscreen cladding market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China rainscreen cladding market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 5,830.4 million by 2030.
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Rainscreen Cladding Market Scope
Rainscreen Cladding Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea rainscreen cladding market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to rainscreen cladding market will help companies and investors design strategic landscapes.
Terracotta was the largest segment with a revenue share of 39.09% in 2023. Horizon Databook has segmented the South Korea rainscreen cladding market based on fiber cement, composite material, metal, high pressure laminates, terracotta, ceramic, other raw materials covering the revenue growth of each sub-segment from 2018 to 2030.
Construction industry in South Korea is expected to witness growth in line with the economic growth of the country. Even though the country experienced a temporary setback in the economy in 2017, due to the impeachment of the former President Park Geun-hye, it made a quick recovery and is expected to witness robust growth over the forecast period.
Construction industry in South Korea is witnessing a significant growth owing to increasing investments in residential construction. Furthermore, the country’s rising focus on infrastructural development is likely to boost the growth of construction industry, thereby positively impacting the demand for rainscreen cladding over the forecast period.
South Korea is considered as a major hub for the manufacturing of electronic products. The country is one of the leading producers of semiconductors, mobile phones, and other electronic gadgets. Electronics industry in the country was valued at over USD 100 billion in 2019, registering a growth of 3.5% as compared to the previous year.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea rainscreen cladding market , including forecasts for subscribers. This country databook contains high-level insights into South Korea rainscreen cladding market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea rainscreen cladding market size, by raw material, 2018-2030 (US$M)
South Korea Rainscreen Cladding Market Outlook Share, 2023 & 2030 (US$M)
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