MARKET OVERVIEW- NORTH AMERICA HOUSE WRAPS MARKET
Housewraps, which are also known as home wraps, are a generally a modern synthetic material used to protect buildings or construction. The housewraps are a replacement for older asphalt-treated paper or asphalt-saturated felt. The housewraps are ideally made with materials that are all lighter in weight and usually wider than asphalt designs. This provides an advantage for contractors to apply material much faster to a house shell. Besides, the house wraps provide superior safety for the end user. In addition, a large number of manufacturers are significantly focusing on providing high sustainability in adverse weather conditions. Likewise, the rise in environmental awareness around the world has indeed boosted the market’s growth to a major extent.
MARKET DRIVERS
The different factors accelerating the market’s growth are increasing populations and growing construction, which has accelerated the demand for the market. Besides, the housewraps function as a weather-resistant barrier, preventing rain and other forms of moisture from getting into the wall assembly while allowing water vapor to pass to the exterior area. Therefore, these different advantages of house wraps have led to the rising demand for the market. Likewise, the growing popularity of eco-friendly materials and investments in green construction have further contributed to healthy growth in the market. Furthermore, a large number of manufacturers are producing durable house wraps that have high sustainability in adverse weather conditions. This is a key factor that is expected to drive strong growth in the market in the upcoming years. Moreover, there is a rise in environmental awareness around the world, which has propelled an increase in investment with respect to green construction.
MARKET OPPORTUNITIES
The North American market is anticipated to witness new growth opportunities with the growing popularity of eco-friendly materials for the production of house wrap products. Eco-friendly housewraps specifically prevent water infiltration, enable vapour permeability and prevent air infiltration. Besides, the housewraps are produced with the guarantee of high quality. The smooth surface of the housewraps offers a major advantage in meeting the standards of the domain. Likewise, the increased government spending on public infrastructure is anticipated to provide ample new growth opportunities for the market over the estimated time period.
MARKET RESTRAINTS
The market has major restraining factors like risk associated with the use of House Wraps products, which is expected to act as a hurdler for the market’s growth over the forecast period. Besides, COVID-19 has hampered the market’s growth to a greater extent, which is another factor restraining the market’s 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 the market’s growth. Also, the risk associated with the use of House Wraps products is expected to be a major hamper for the market’s growth over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the North American House Wraps market, including market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The increasing demand for various North America House Wraps in various applications has led to the increasing demand for the market and is expected to witness growth at a CAGR from 2022-2028.
NORTH AMERICA HOUSE WRAPS MARKET SEGMENTAL OVERVIEW
The North American House Wraps Market comprises of different market segment like type, product type, technique and country.
NORTH AMERICA HOUSE WRAPS MARKET BY TYPE
By type, the North America House Wraps includes key segment of
- Asphalt felt
- Polyolefin fabric
- Liquid Water-Resistive Barrier (Liquid WRB)
- Rigid foam
- WRB(Water-Resistive Barrier) sheathing
- Grade D building paper
Asphalt felt is expected to dominate the market over the forecast period. Asphalt felt based house wrap is usually made of tar paper and is the most common option. It is used in house wraps due to temperature climate, and also used as a self-adhesive, easy peel off material. It is also known as tar paper, which is a rolled material used in new homes, construction, renovations, and additions as a moisture barrier. On the other hand, polyolefin fabric is anticipated to have rising new demand for the market with the growing popularity of eco-friendly materials along with growing investments in green construction over the estimated time period.
NORTH AMERICA HOUSE WRAPS MARKET BY PRODUCT TYPE
The North America House Wraps Market has product types present which include:
- Non – Perforated Housewraps
- Perforated Housewraps
In terms of product type, non-perforated house wraps are anticipated to gain the majority of market share and maintain their dominance over the estimated time period. This product type is expected to provide superior performance. Furthermore, most manufacturers are focusing on manufacturing non-perforated housewraps with the rising demand for the market in residential and commercial construction. For instance, DuPont Tyvek Home Wrap is a non-perforated, spun-bonded house wraps that creates an air and water barrier before the exterior cladding is applied. On the other hand, Perforated Housewraps are expected to hold the second position in the market during the forecast period.
NORTH AMERICA HOUSE WRAPS MARKET BY TECHNIQUE
The North America House Wraps Market has techniques like:
The wrapping technique is expected to dominate the global house wraps market over the estimated time period. This technique contributes to weather tightness and provides energy efficiency in building for the life of the structure. The wrapping provides advanced protection against air and moisture infiltration into the wall cavity. It also contributes to superior strength and durability, and has one of the lowest air leakage rates in the industry. Besides, it provides a superior water holdout. Therefore, the expanding popularity of eco-friendly materials and investments in green construction has further boosted the wrapping demand in the house wrap market.
NORTH AMERICA HOUSE WRAPS MARKET BY GEOGRAPHY
The North America House Wraps Market is studied for the following region:
- United States
- Canada
- Mexico
The United States is anticipated to witness increasing demand for North American House Wraps owing to the presence of well-established market players. The country’s largest customers for manufacturing and the construction sector, which has indeed created emerging demand for the North American house wraps market. Besides, in 2021, the residential construction industry in the United States was valued at $1.9 trillion, whereas the commercial sector in the United States continues to grow at a healthy pace because of the increase in construction activities, which has led to increased demand for house wraps. Furthermore, due to the increasing awareness of the benefits of using house wraps in both residential and commercial applications, the market is anticipated to find ample of new growth opportunities over the forecast period. On the other hand, Canada, following Mexico, is anticipated to experience rising new growth opportunities over the forecast period.
COVID-19 IMPACT ANALYSIS ON NORTH AMERICA HOUSE WRAPSMARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the North America house wraps market. In addition, complete analysis of changes on the Market expenditure, economic and international policies on supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. The new COVID-19 has certainly affected the North American market for house wraps. Besides, different factors such as disruption in the supply chain, and temporary shutdown of product production for the safety of employees and workforce have affected the market revenue to a major extent.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the North American House Wraps Market is majorly focused on expanding the growth of North American House Wraps with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in North America House Wraps has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required demand of consumer which is further contributing to 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: Saint-Gobain, through its building products subsidiary CertainTeed LLC, has acquired Vi-Lux Building Products, a Canadian custom manufacturer of cellular polyvinyl chloride (PVC) molding and trim, adding to the company’s growing siding business and expanding its production capacity for specialty trim materials.
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.
