LONDON--(BUSINESS WIRE)--The global house wraps market size is expected to post a CAGR close to 7% during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
House wraps helps consumers keep indoor air and environment clean by acting as a barrier against allergens and insects while protecting buildings from UV radiations. House wraps further act as weather-resistant barriers by protecting the walls in addition to providing an aesthetic appeal to buildings. Using house wraps further helps reduce heating and cooling costs. This also helps to ensure a longer life span for HVAC systems as it reduces their workload. Thus, the increasing installation of house wraps due to their several benefits will drive the market growth during the forecast period.
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As per Technavio, the advent of new fire-retardant membranes in house wraps will have a positive impact on market growth over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
House Wraps Market: Advent of New Fire-Retardant Membranes in House Wraps
Vendors in the market are focusing on launching innovative house wraps with flame-retardant breather membranes to limit the propagation of flame. These house wraps have halogen-free flame-retardant coatings to prevent the formulation of droplets and aid in the reduction of smoke. House wraps are increasingly being used in high-rise buildings, ventilated facades, and timber frame constructions as they use a phosphorous-containing agent to reduce flammability. Thus, the introduction of fire-retardant membranes in house wraps is anticipated to boost the global house wraps market during the forecast period.
“Other factors such as availability of a wide range of products, along with the implementation of building energy codes and certification programs, are expected to boost the house wraps market growth during the forecast period,” says a senior analyst at Technavio.
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House Wraps Market: Segmentation Analysis
This market research report segments the house wraps market by type (perforated house wraps and non-perforated house wraps) and geography (APAC, Europe, MEA, North America, and South America).
North America led the market in 2019, followed by Europe, APAC, South America, and MEA respectively due to the rising investments in construction and infrastructural activities in the US and Canada. In addition, the implementation of building codes in the US is fueling the demand for house wraps in the country.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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