COVID-19 IMPACT ANALYSIS ON GLOBAL HOUSE WRAPS MARKET
The spread of the COVID-19 crisis has significantly impacted on almost every industry, including the construction industry. The pandemic has resulted in half of several construction projects across the world and various nations have forced lockdowns, which have seriously impacted the supply chain of raw materials and products. Due to the lockdown and regulation activity, most of the industrial and commercial projects are commanded to shut down. The COVID-19 pandemic also disrupted the manufacturing sector owing to the closure of the production plant. All these factors hampered the growth of the global house wraps market. Demand for market products increased owing to rapid urbanization, developing countries, and rise in construction activities, demand from the consumer has certainly provided the market with a mixed impact due to the COVID-19 pandemic.
MARKET OVERVIEW- GLOBAL HOUSE WRAPS MARKET
MARKET DRIVERS
The growing demand and steady launch of innovative products with unique performance attributes to meet the challenges of different climatic conditions. The 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. Increased installation of non-perforated house wraps, stringent energy efficiency mandates that will boost upgrades of building envelope systems and the rising prominence of green buildings and rising demand for green building materials.
Market GROWTH OPPORTUNITIES
The market is expected to have new opportunities with technological advancements and ongoing R & D involved in manufacturing house wraps is expected to provide ample new growth opportunities in the market. A growing trend of eco-friendly material use and green- building construction across the globe create a lucrative opportunity for the house wraps market. Also, rising house wrap demand in green construction is expected to create ample new growth opportunity for the market.
MARKET RESTRAINTS
High cost of the house wraps products is a major factor hamper the market growth.
MARKET GROWTH CHALLENGES
The COVID-19 pandemic hampered the growth of the market to a major extent, which has created a major challenge for market growth. Also, the requirement of higher-skill workers for the installation of house wrap and lack of skilled labor is a major factor expected to hamper the market growth.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of global house wrap market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for house wraps in green construction has led the increasing demand for market and is expected to witness the growth at a CAGR at specific CAGR from 2021-2028.
MARKET SEGMENTAL OVERVIEW
The global house wrap market comprises of different market segment like type, product type, technique and geography.
HOUSE WRAPS MARKET BY TYPE
By type, the house wraps include key segment of
- Asphalt Felt
- Polyolefin Fabric
- Liquid Water-Resistive Barrier
- Low Defect Metallizer
- Rigid Foam
- Water-Resistive Barrier Sheathing
- Grade D building paper
Asphalt felt are WRBs that serve as the second line of protection against moisture and air entering a home or building. This type of paper is thicker and it has a lifespan of approximately 15 years. The thickness of the product makes it more resistant to tearing when battered by heavy winds. Asphalt felt can shed water and it provides additional water protection, which is one reason it is an important part of a house wrap. Asphalt felt is designed as an underlayment product to be applied over the roof deck prior to the installation of asphalt shingles. A benefit of asphalt felt is its ability to absorb water, and then slowly evaporate the moisture from the exterior.
HOUSE WRAPS MARKET BY PRODUCT TYPE
By product type, the house wraps include key segment of
- Non-perforated House wraps
- Perforated House wraps
Perforated house wraps have a high market share as they cost much less than non-perforated house wraps. Perforated house wraps poke thousands of tiny holes through their materials. These micro perforations allow some vapor movement. Perforated house wraps can withstand the rigors of construction, but the perforations that allow vapor movement also permit air and water to move through the house wrap. However, several builders prefer low-cost options and do not prioritize the performance and quality of house wraps. Thus, perforated house wraps have been prominent in the global house wrap market.
HOUSE WRAPS MARKET BY TECHNIQUE
By technique, the house wraps include key segment of
House wraps are installed on the outside surface of a home’s envelope or exterior. The wrapping segment accounted for the largest share in the house wrap market. Wrapping technique is used to cover and protect. House wraps help to minimize wind and air leaks that create hot or cold zones in living areas. Wrapping starts from the foundation, or the base of the wall assembly, extending at least an inch past the wall-to-foundation and continuing upwards like shingle installation.
HOUSE WRAP MARKET BY GEOGRAPHY
The global house wrap market is studied for the following region
- North America
- Europe
- Asia-Pacific
- Rest of the world (RoW)
North America is anticipated to witness an increasing demand for house wrap owing to growth in the population, increasing application of house wraps and the growing presence of various manufacturers in the region. Furthermore, growing construction activity in the region and government support for infrastructure development boosts the demand for the house wraps market. The governments of various countries are working in the residential construction sector. Thus, there is a demand for house wrap. The government are promoting green construction projects to reduce negative impacts and create a positive impact on the climate and natural environment, which further creates opportunity for the house wrap market.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of house wrap market is majorly focused on expanding the global growth of house wrap with new product innovation, business expansion, increasing presence of range of manufacturer operating in house wrap has led the growing demand for the market. Besides, the market offers range of products to fulfill the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
- 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.
RECENT DEVELOPMENT:
July 2021: Owens Corning has acquired vliepa GmbH, which specializes in the coating, printing and finishing of nonwovens, paper and film for the building materials industry. The acquisition broadens Owens Corning’s significant global nonwovens portfolio to better serve European customers and accelerate growth of building and construction market applications in the region.
July 2021: Carlisle has acquired building envelope specialist Henry Company. Carlisle Companies reported that it has entered into a definitive agreement to acquire Henry Company, a provider of building envelope systems, from affiliates of American Securities LLC, a leading U.S. private equity firm.
