United Kingdom Timber Cladding Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

United Kingdom Timber Cladding Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The timber cladding market in United Kingdom is projected to register a CAGR of over 4% during the forecast period.

The COVID-19 pandemic negatively impacted the market. During COVID-19, construction activities in the residential and non-residential sectors were closed due to the lockdown, decreasing timer cladding consumption within the country. After 2020, the market grew steadily with continuous activity in the residential and non-residential sectors.

• Growing demand in residential and non-residential for construction and infrastructure activities is driving the market growth.
• Timber shortage in the country and combustibles legislation remain a constraint for the growth of the market studied.
• Timber cladding provides various design opportunities for buildings and homes, likely to create chances during the forecast period.

• Timber cladding offers many advantages in the residential sector, such as better insulation, cost-effectiveness, environmental friendliness, durability, lower maintenance, and sustainability. It also enhances the overall appearance of the building. It is commonly used in the interior and exterior of buildings.
• Timber cladding is in use on homes for over a century and includes a solid reputation for being attractive and long-lasting. However, it includes significant drawbacks that limit its commercial potential, such as ongoing maintenance, fire danger, and the need for experienced workers.
• According to the Office for National Statistics (United Kingdom), total public housing construction in Great Britain increased by over 6% in 2021 compared to the previous year, after it declined by around 32% in 2020 due to COVID-19. An increasing trend is expected to continue in the future, increasing the demand for the studied market in United Kingdom.
• According to the Office for National Statistics United Kingdom, the revenue generated from building and construction in United Kingdom was around USD 190 billion in 2021, witnessing a growth rate of 16% as compared to the previous year.
• According to the Office for National Statistics (United Kingdom), residential construction in various regions of United Kingdom increased significantly in 2021 following the pandemic. For example, the Eastern United Kingdom from 14,414 to 21,004, Scotland from 8,810 to 12,599, the South East from 18,307 to 21,600, and Wales from 3,909 to 4,171.
• According to the Department for Communities and Local Government (United Kingdom), in 2021, the number of households occupied by private renters in United Kingdom reached 4.43 million. That year, the number of social renter residences was slightly less than 4 million.
• Therefore, considering the above factors, the demand for the timber cladding market in United Kingdom is expected to rise significantly in the segment soon.

• Wall cladding is an excellent approach to secure a building from harsh weather conditions and other sorts of troubles that might harm the structure and appearance of the buildings.
• The wall cladding in the residential and non-residential sectors is expected to witness significant growth prospects in the forecast period. Lower interest rates, an increase in real disposable incomes, and numerous investments by the government support the growth.
• Wall cladding is widely used on the building's exterior to protect them from external harm while requiring little to no maintenance. It is also beneficial in extreme low-temperature conditions to keep facilities warm by providing sufficient insulation. These factors also contribute to the region's rising demand for timber cladding in wall construction.
• According to HM Treasury (Economic and Finance Ministry of United Kingdom), in 2021/22, the government of United Kingdom spent around GBP 9.6 billion (~USD 11.53 billion) on housing development, witnessing a growth rate of around 10%, compared to 2020/21. This growth trend is expected to continue, owing to the rising demand for real estate, increasing population, increased job security, and low borrowing costs. Timber cladding is more demanded in housing construction, increasing demand within the country.
• According to the Office for National Statistics (United Kingdom), London's residential real estate sales volume reached almost 27 thousand in the first half of 2022. London's residential real estate sales volume was more than 100 thousand in 2021.
• All factors above are likely to fuel the growth of timber cladding in United Kingdom over the forecast period.

The timber cladding market in United Kingdom is fragmented in nature. Some of the major players in the market (not in any particular order) include Vastern Timber Limited, BSW Timber Ltd, Timbmet, NORclad Ltd., and The Brookridge Group (Brookridge Timber), among others.

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