North America House Wraps Market Overview:
House Wraps Market also known as home wraps, are a contemporary synthetic material utilized for safeguarding buildings and constructions. They have replaced the conventional asphalt-treated paper or asphalt-saturated felt. These wraps are manufactured using lightweight materials that are usually wider than the traditional asphalt designs, allowing contractors to apply them more rapidly to the house shell. This feature, along with providing superior safety for the end-users, has increased their demand. Additionally, many manufacturers have started emphasizing high sustainability in adverse weather conditions, which has led to significant growth in the market. Furthermore, the growing global awareness of environmental issues has also contributed significantly to the expansion of the market.
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Key Players:
• 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.
North America House Wraps Market Opportunities:
The North American market for house wrap is anticipated to experience new growth prospects due to the rising demand for eco-friendly materials in product manufacture. Eco-friendly housewraps are made with a guarantee of excellent quality and are specifically intended to avoid water penetration, enable vapour permeability, and prevent air infiltration. They have a big advantage in terms of meeting industrial standards because of their smooth surface. Also, the market is set to gain from rising government investment in infrastructure, which is anticipated to generate plenty of development prospects during the projected period.
North America House Wraps Market Growth Challenges:
The market's growth was significantly hindered by the COVID-19 pandemic, posing a major challenge to its expansion. Additionally, concerns over the potential risks associated with the use of House Wraps products are expected to hamper the market's growth during the forecast period.
North America House Wraps Market Recent Development:
In July 2021, Saint-Gobain, a multinational corporation, acquired Vi-Lux Building Products, a Canadian manufacturer of custom cellular polyvinyl chloride (PVC) molding and trim, through its building products subsidiary, CertainTeed LLC. This acquisition has enabled the company to expand its production capacity for specialty trim materials and bolster its growing siding business.
Also In July 2021, Carlisle Companies announced its acquisition of Henry Company, a provider of building envelope systems, in a definitive agreement with affiliates of American Securities LLC, a prominent private equity firm in the United States. This acquisition further strengthens Carlisle's presence in the industry and enhances its capabilities as a building envelope specialist.
North America House Wraps Market By Geography:
The well-established market players in the United States are expected to drive the increasing demand for North American House Wraps. As the country's largest customers for manufacturing and the construction sector, there is a growing demand for house wraps in the North American market. In 2021, the residential construction industry in the United States was valued at $1.9 trillion, while the commercial sector continues to grow due to increased construction activities, resulting in heightened demand for house wraps. Moreover, the market is expected to find ample new growth opportunities over the forecast period as a result of increasing awareness of the benefits of using house wraps in both residential and commercial applications. Meanwhile, Canada is expected to experience new growth opportunities following Mexico during the estimated period.
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