Metal cladding Market Research Report - Global Forecast 2030

Impact of COVID-19 on the Global Cladding Systems Market

The COVID-19 pandemic has spread across the globe and has impacted the growth of the global cladding systems market considerably. Governments worldwide have imposed lockdowns, which has affected most of the industrial players across the globe and forced people to stay within their homes, which, in turn, has reduced the physical interaction among people. Most companies have allowed employees to work remotely from their homes to ensure business continuity during the COVID-19 pandemic, which is expected to hamper the growth of the global cladding systems market over the forecast timeframe. The restrictions imposed on construction activities to comply with the social distancing norms are likely to hamper the growth of the construction industry, which, in turn, is expected to limit the growth of the global cladding systems market.

Operations in the construction sector have been interrupted due to the COVID-19 crisis across the globe. The shift in consumer preference towards essential products is likely to influence the global cladding systems market over the projected timeframe. Furthermore, the COVID-19 outbreak has resulted in the sealing of international boundaries, which has caused a severe decline in the demand for cladding systems and related products across the globe. Government authorities worldwide have enforced restrictions on travel. Hence, the market is also expected to be affected due to the decrease in the installation of cladding systems in the construction sector. Additionally, the restrictions on public gatherings along with travel bans in several countries are expected to hinder the growth of the global cladding systems market over the forecast period.

Real Estate Investments in CHINA: Year to date (YTD) (Units in Thousand)

The figure above shows the year to date (YTD) statistics of real estate investments in China from January 2020 to April 2020. Cladding systems are being increasingly adopted in new buildings and construction projects to shed water and provide enhanced protection from extreme weather conditions. The statistics show the fluctuations in real estate investments during Q1 of 2020, which have affected the global demand for cladding systems severely. The increased focus on social distancing and personal care is likely to affect the demand for construction-related products, including cladding systems during the coming months.

Source: National Bureau of Statistics