MARKET OVERVIEW- ASIA PACIFIC HOUSE WRAPS MARKET
The housewraps market is expected to witness growth at a specific growth rate over the forecast period. used to wrap the exterior of a building to protect the wall frames from external moisture penetration, housewraps is one the rapidly adopted products in the Asia Pacific market. Housewraps generally refer to synthetic sheeting that is wrapped around a house to protect against moisture infiltration. Likewise, the housewraps have water-resistive barrier and perform primary functions by resisting the infiltration of water into a building assembly. Likewise, the housewraps specifically help to reduce the home’s energy bills by controlling air flow and water intrusion, which insulates the work better and allows the HVAC system to work more efficiently. Also, a number of manufacturesr are focusing on providing highly sustainable products. The, rise in environmental awareness around the world has further flourished the market’s growth to a major extent.
MARKET DRIVERS
The housewraps market in Asia Pacific is driven by various factors, such as the growing popularity of eco-friendly materials. Since the Asia Pacific region has a presence of well-developed economic countries, along with the growing construction activity, rising residential and commercial construction activity has indeed fuelled the demand for the market, which has further uplifted the market to a major extent. Likewise, growing investments in green construction, rising renovation activities have indeed created ample new growth opportunities for the market.
MARKET RESTRAINTS
The market has major restraining factors like risk associated with the use of house wrap products like mold growth and rot in wall cavities, 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 major 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, declining demand for house wraps products is expected to hamper the market’s growth over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the Asia Pacific 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 Asia Pacific 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.
ASIA PACIFIC HOUSE WRAPS MARKET SEGMENTAL OVERVIEW
The Asia Pacific house wraps market comprises of different market segments like type, product type, technique and country.
ASIA PACIFIC HOUSE WRAPS MARKET BY TYPE
The Asia Pacific House Wraps include key segments 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 anticipated to dominate the market over the forecast period. The segment is driven by various factors such as excellent strength and durability to minimize the damage from outside elements such as wind, sun, and air during the installation. In addition, the asphalt felt provides drainage, UV inhibitors, tear strength, temperature resistance, and vapour permeability. Likewise, the different advantages of asphalt felt like self-adhesive, easy-to-peel off material, and others. Also, polyolefin fabric is anticipated to have new growth opportunities over the estimated time period.
ASIA PACIFIC HOUSE WRAPS MARKET BY PRODUCT TYPE
The Asia Pacific House Wraps Market has product type present which includes
- Non – Perforated Housewraps
- Perforated Housewraps
Non – Perforated Housewraps are expected to lead the market over the estimated time period. The segment is driven by high-performance house wraps with several characteristics. The non-perforated house wraps further share different high performance, air resistance, water resistance, vapour permeability, and durability both during and after construction. Also, the house wraps enhanced job site durability and long-term product performance with superior protection against the elements. Likewise, perforated housewraps are anticipated to find ample new growth opportunities over the estimated time period.
ASIA PACIFIC HOUSE WRAPS MARKET BY TECHNIQUE
The Asia Pacific House Wraps Market has techniques like:
The wrapping technique is expected to be the leading segment over the estimated time period. The segment is driven by factors such as the wrapping technique, which ensures energy efficiency in the building for the life of the structure. The wrapping provides advanced protection against air and moisture infiltration into the wall cavity. Besides, the wrapping technique contribute superior strength and durability and has one of the lowest air leakage rates. Likewise, flashing and taping are also contributing to healthy growth in the market over the forecast period.
ASIA PACIFIC HOUSE WRAPS MARKET BY GEOGRAPHY
The Asia Pacific House Wraps Market is studied for the following region:
- China
- Japan
- India
- Rest of APAC
China is anticipated to witness increasing demand for Asia Pacific House Wraps owing to the presence of well-established market players. The market in this country is driven by various factors such as increasing construction activities, rising infrastructural setup and awareness about green construction, which have accelerated the market’s growth to a major extent. Also, in the country, house wraps specifically have demand owing to growing residential applications and growing concern for the protection of homes among consumers, which has led to the growing demand for the market. On the other hand, the Japanese market is anticipated to hold the second position in the market due to growing demand for water wrap in Japan for corrosion resistance, insulation, and other reasons which are anticipated to fuel the demand for the market over the estimated time period. Similarly, the Indian house wraps market is driven by increasing income, rapid urbanization, and rapid economic growth, which have resulted in growing residential construction in the country.
COVID-19 IMPACT ANALYSIS ON ASIA PACIFIC HOUSE WRAPS MARKET
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the Asia-Pacific house wraps market with exclusive COVID-19 impact analysis in report. In addition, a complete analysis of changes on the Asia-Pacific House Wraps Market expenditure, economic, and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. Likewise, the COVID-19 has affected Asia-Pacific house wraps market to a major extent as most of the production facility were shutdown owing to restrict regulations of the pandemic. Also, declining demand for market due to COVID-19 has affected the market growth to major extent.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Asia Pacific House Wraps Market is majorly focused on expanding the growth of Asia Pacific House Wraps with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the Asia-Pacific 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
- 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.
