LONDON, Jan. 19, 2015 /PRNewswire/ -- The enforcement of policies and certification programs encouraging the building of energy-efficient homes is propelling the growth of the global housewraps market. Additional regulations regarding the use of building envelope systems, along with the need to upgrade existing insulation systems in wood housing will further boost adoption.
New analysis from Frost & Sullivan, Analysis of the Global Housewraps Market, finds that the market earned revenues of $696.4 million in 2013 and estimates this to reach $1,055.1 million in 2018. End-user preference for non-perforated housewraps is projected to increase during the forecast period.
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"With the US residential market showing positive signs of recovery led by the construction of new single as well as multi-family homes, the demand for housewraps is expected to surge," said Frost & Sullivan Chemicals, Materials and Food Research Analyst Shubhayan Sarkar. "The resurgence of wood housing activities in Europe and Asia-Pacific will also expand market potential."
Some of this demand, however, is likely to be met by competing weather barrier and insulating technologies, limiting the use of housewraps. Persisting traditional construction practices in Europe and Asia-Pacific will affect the housewraps market in these regions.
Lack of end-user awareness on housewraps due to inadequate marketing and distribution strategies also put a dent into profits. The economic downturn of the last few years has made end users particularly prudent; they expect cost-effective systems that also ensure energy savings.
Manufacturers providing a wide range of products with an optimum price-performance index will gain a competitive edge in the long run. Offering efficient after-sales services, including on-site support, extended warranty programs and product workshops will provide opportunities for market participants to speed up customer acquisition.
"Innovation in aspects such as light-weighting and overall product performance will help manufacturers differentiate their products from those of competitors," added Sarkar. "To that end, housewrap majors will look to acquire smaller manufacturers in order to avail of their technical competence, gain access to distribution channels, and widen their customer base in the global market."
Analysis of the Global Housewraps Market is part of the Chemicals & Materials Growth Partnership Service program. Frost & Sullivan's related studies include: Global Metalworking Fluids Market, Global Engineering Plastics Market, Global High-performance (HP) Foams Market, and Global LED Materials Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the Global Housewraps Market
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