Dublin, July 11, 2022 (GLOBE NEWSWIRE) -- The "House Wraps - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global House Wraps Market to Reach $6.5 Billion by 2026
Amid the COVID-19 crisis, the global market for House Wraps estimated at US$4.4 Billion in the year 2020, is projected to reach a revised size of US$6.5 Billion by 2026, growing at a CAGR of 6.7% over the analysis period. Non-Perforated House Wraps, one of the segments analyzed in the report, is projected to grow at a 7.1% CAGR to reach US$5.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Perforated House Wraps segment is readjusted to a revised 5.2% CAGR for the next 7-year period. This segment currently accounts for a 23.6% share of the global House Wraps market.
The U.S. Market is Estimated at $2 Billion in 2021, While China is Forecast to Reach $659.7 Million by 2026
The House Wraps market in the U.S. is estimated at US$2 Billion in the year 2021. The country currently accounts for a 44.72% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$659.7 Million in the year 2026 trailing a CAGR of 8.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 6.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR while Rest of European market (as defined in the study) will reach US$717.4 Million by the close of the analysis period.
Healthy growth is projected for the market driven by growing demand and steady launch of innovative products with unique performance attributes to meet the challenges of different climatic conditions. Next-gen house wraps combine liquid water resistance ability with breathable barrier technology to prevent water penetration and aid in removal of moisture vapor from the wall cavity in addition to providing noise absorption, superior insulation, and water and air resistance.
Steady replacement of solid wood with engineered wood as the primary building material represent another important growth driver with engineered wood known to readily absorb and retain moisture, making buildings constructed from plywood, OSB or gypsum susceptible to fungi and mold.
Increasing popularity of peel-and-stick house wraps is also benefiting market prospects supported by their superior attribute of lower air leakage over mechanically-attached house wraps due to easier detailing, and the recent code change that requires air-leakage testing within the International Residential Code (IRC). Other factors favoring market growth include increased installations of non-perforated house wraps; stringent energy efficiency mandates that will spur upgrades of building envelope systems; and rising prominence of green buildings and rising demand for green building materials.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
- Market Overview
- Manufacturers Maintain Strong Focus on Education and Training. Here's Why
- Extreme Climatic Conditions Offer a Strong Business Case for House Wraps
- Global Number of Extreme Weather Events for the Years 2000, 2005, 2010, 2015 and 2020
- Continuous Innovation Remains Crucial to Growth in the Market
- Material Innovation Continues
- Advent of Flame-retardant Membranes in Modern House Wraps
- Home Renovations & Need for Better Buildings for Post Pandemic Living to Spur Sales of Housewraps
- Residential Renovations to Regain Lost Momentum Post Pandemic
- Focus on Building Smarter Buildings as Emission Savers, Post Pandemic to Push Up Adoption of House Wraps
- Indoor Air Quality & House Wraps
- Drainable House Wraps: One of the Fastest Growing House Wraps by Type
- Steady Replacement of Solid Wood with Engineered Wood in Building Construction Shifts Focus on House Wraps
- Focus on Energy Efficiency & Adoption of Thermal Insulation to Magnify Importance of House Wraps
- Here's How House Wraps Help Protect the R-Value of Insulation
- Rise of Smart Buildings Bodes Well for Innovative House Wrap Solutions
4. GLOBAL MARKET PERSPECTIVE
Companies Mentioned
- Alpha Pro Tech, Ltd.
- ANCI Inc.
- Berry Global, Inc.
- CertainTeed Corporation
- DuPont de Nemours, Inc.
- GCP Applied Technologies Inc.
- Henry Company
- INDEVCO North America, Inc.
- Intertape Polymer Group Inc.
- James Hardie Building Products, Inc.
- Kimberly-Clark Professional Ltd.
- Kingspan Insulation LLC
- Owens Corning
- Protecto Wrap Company
- RH Tamlyn & Sons LP
- Specialty Coating & Laminating, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/h86zks
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