Impact of COVID-19 on the Global Rainscreen Cladding Market
The COVID-19 pandemic has spread across the globe and has considerably impacted the growth of the global rainscreen claddings market. The propagation of the novel COVID-19 has affected most of the industrial players worldwide. The governments of several countries have imposed lockdowns that have forced people to stay at home, which, in turn, has reduced the physical interaction among people. Most companies have allowed their employees to work from their homes to ensure business stability during the COVID-19 pandemic, which is expected to hamper the growth of the global rainscreen claddings market over the forecast timeframe. The increasing focus on remote working is likely to restrict the growth of the construction industry, which, in turn, is expected to limit the growth of the Global Rainscreen Cladding Market.
Manufacturing and distribution operations in the construction sector have been interrupted due to the COVID-19 crisis. The shift in consumer preference towards essential products is likely to influence the global rainscreen claddings market over the projected timeframe. Furthermore, the COVID-19 outbreak has resulted in the closing of international borders, which has caused a severe decline in the demand for rainscreen claddings 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 lowered installation of rainscreen claddings in the construction sector. Additionally, the restrictions on public gatherings and travel bans in several countries are expected to hinder the growth of the global rainscreen claddings market over the forecast period.
Rainscreen claddings find wide applications in new buildings and construction projects as they prevent rainwater from entering the interiors and provide enhanced protection from extreme rainy conditions. The increased focus on personal care and social distancing is likely to affect the demand for construction-related products, including rainscreen claddings during the pandemic. Thus, there is high uncertainty regarding the growth of the global rainscreen claddings market over the projected timeframe. According to the MRFR analysis, the rainscreen claddings market is expected to stabilize by Q4 of 2020.