House Wraps Market is Poised to Reach US$ 11.61 Billion with a 7% CAGR by 2033: Fact.MR Report
FACT.MR
6 min read
FACT.MR
Robust Growth Projected in the US House Wraps Market, Fueled by Increasing Demand in Non-Residential Applications and Building Code Implementation.
Rockville, Sept. 07, 2023 (GLOBE NEWSWIRE) -- As per a newly published study by Fact.MR, a market research and competitive intelligence provider, worldwide demand for house wraps reached a market value of US$ 5.51 billion in 2022. The global House Wraps Market is projected to expand at a CAGR of 7% through 2033. Energy saving and moisture management are the main factors that are supporting market growth.
Moisture accumulation in walls results in wood rot and contributes to fungal growth. It can eventually damage structures, necessitating expensive repair work. Therefore, there is a significant increase in the demand for house wraps to protect walls and increase their aesthetic appeal. Moisture is responsible for heat generation that causes cellulose or fiberglass to lose insulation quality.
Key Segments of House WrapsIndustry Research Report
By Product Type
By Application
By Region
Non-perforated
Perforated
Residential
Commercial
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
House wraps generally work as a seal and help in the prevention of excess air infiltration. Thus, house wraps are helpful in maintaining optimal amounts of humidity and heat during winter as well as summer seasons.
Key Takeaways from Market Study
The global house wraps market amounted to US$ 5.51 billion in 2022.
Worldwide sales of house wraps are estimated at US$ 5.9 billion in 2023.
The global market is projected to expand at a CAGR of 7% from 2023 to 2033.
Sales of house wraps are anticipated to reach US$ 11.61 billion by 2033-end.
Demand for non-perforated house wraps is forecasted to increase at a CAGR of 7.5% through 2033.
The United States market reached a size of US$ 2.31 billion in 2022.
Sales of house wraps in Japan are predicted to increase at a CAGR of 5.8% from 2023 to 2033.
“Growing use of house wraps as weather-resistance barriers to protect walls from damage and offer aesthetic appeal is predicted to lead tolucrative opportunities for product manufacturers,”says a Fact.MR analyst.
Increasing Investments in Fire-retardant Membranes
Industry players are investing in producing new fire-retardant membranes to offer more efficient solutions.
For instance:
DuPont de Nemours, in October 2020, came up with the Tyvek FireCurb House Wrap that uses flame-retardant technology. The recently innovated product finds application in a range of ventilated facades and tall structures. To reduce flammability, these house wraps use a phosphorous-containing agent.
Report Attributes
Details
Forecast Period
2023 – 2033
Value Projection (2033)
US$ 11.61 Billion
Growth Rate (2023-2033)
7% CAGR
No. of Pages
170 pages
No. of Tables
25 Tables
No. of Figures
132 Figures
Key Market Players
Leading manufacturers of house wraps are Alpha Pro Tech. Ltd., CertainTeed Corporation, Berry Global, Inc., DuPont de Nemours, Inc., Henry Company, GCP Applied Technologies, Inc., INDEVCO North America, Inc., James Hardie Building Products, Inc., Intertape Polymer Group Inc., Kimberly-Clark Professional Ltd., Kingspan Indulation LLC, RH Tamlyan & Sons LP, Owens Corning, Specialty Coating & Laminating, Inc., and Owens Corning.
In 2022, the valuation of the United States market for house wraps stood at approximately US$ 2.31 billion. This market is witnessing a surge in demand for house wraps, particularly for non-residential applications. The upswing is attributed to the escalating construction activities across the United States, underpinned by the growing need for house wraps. Additionally, the implementation of stringent building codes within the United States is anticipated to create favorable growth prospects over the next decade.
Moving over to the Asia Pacific region, both India and China emerge as prominent markets expected to substantially contribute to the increasing demand for house wraps. These countries are experiencing rapid expansion in their construction industries, which, in turn, is propelling the sales of construction materials, including house wraps. These materials not only extend the lifespan of buildings but also enhance their aesthetic appeal.
Furthermore, Japan is poised to be a pivotal market in the region, with projections indicating robust growth in house wrap sales at a notable compound annual growth rate (CAGR) of 5.8% through the year 2033. This underscores the region's significance in the global house wraps market.
More Valuable Insightson Offer
Fact.MR, in its new offering, presents an unbiased analysis of the house wraps market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033. The study divulges essential insights into the market based on product type (non-perforated, perforated) and application (residential, commercial), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the MEA).
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Exterior Insulation and Finish System (EIFS) Market: Newly-released exterior insulation and finish system market analysis report by Fact.MR reveals that global sales of Exterior Insulation and Finish Systems in 2023 were held at US$ 3.7 Billion. With 13.9% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 13.6 Billion by the end of the forecast period.
Micro-Perforated Films Market: The global sales of the Micro-Perforated Films Market in 2021 were held at US$ 1.4 Billion. With a CAGR of 3.5%, the projected market growth during 2022 - 2032 is expected to be slightly higher than the historical growth, and the market size is expected to grow to US$ 2 Billion by the end of the forecast during 2022 - 2032.
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