Air Barrier Market to Grow at CAGR 4.5% During Forecast Period | Explore the Unstoppable Rise
The Insight Partner
Air Barriers Market is expected to grow from US$ 15,924.68 million in 2022 and is projected to reach US$ 20,752.35 million by 2028.
NEW YORK, UNITED STATES, January 31, 2023 /EINPresswire.com/ -- Air Barriers Market: Key Insights
According to the new research study titled "Air Barriers Market to Forecast 2028 – COVID-19 Impact and Global Analysis – by Category, Type, Application, and Geography," The air barrier has become an integral component of a building, allowing architects and builders to meet energy efficiency goals and building code requirements. The fluid-applied air barrier coatings are highly preferred by contractors in developing buildings to meet the demand for resilient air barrier solutions and to achieve new building designs. The broad range of dispersion polymers and additives is widely used for both permeable and impermeable air barrier coating formulations. These factors are expected to drive air barriers market growth across the globe.
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The air barriers market in Asia Pacific is projected to register the largest market share during the forecast period. Profit-bearing growth strategies and product innovations by many key players are projected to boost the sales of air barriers over the forecast period. Moreover, the significantly growing demand for air barriers in the region is attributed to the presence of a strong industrial base making this region the workshop of the world. Apart for this, the increasing pollution is likely to further drive the need for air barriers in the upcoming years.
Growth of the Residential Construction Sector
Air leakage in homes can increase heating and cooling costs, cause moisture damage in walls, allow pollutants and debris to collect in wall interiors, and provide openings for insects and rodents to enter. To avoid this, air barriers are highly used in residential construction. The air barriers market for this segment is driven by an increase in government spending on residential construction and a rise in the demand for new homes and building improvements. The new government spending from the infrastructure bill and budget earmarks to encourage energy-efficient construction are powering additional demand for residential projects. Further, since the COVID-19 pandemic, the growth in the total value of newly built homes across the globe has accelerated.
Air Barrier Market: Competitive Landscape and Key Developments
A few leading players operating in the air barriers market are BASF SE, Dow Inc, 3M Co, W. R. Meadows Inc, GCP Applied Technologies Inc, CertainTeed LLC, Tamarack Materials Inc, VaproShield LLC, TK Products Construction Coating, Henry Co, Carlisle Companies Inc, and General Electric Co. These players are focused on developing innovative products to meet the changing requirements of consumers.
According to a US study by the National Institute of Standards and Technology (NIST), reducing air infiltration with a continuous air barrier reduces energy usage by up to 36%. Energy savings can translate into significant cost savings. Various advantages of the usage of air barriers result in their greater adoption in residential, commercial, and industrial sectors. Thus, the rising demand for air barriers is propelling the air barriers market in the country.
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Air Barrier Market: Segmental Overview
Based on type, the air barriers market is segmented into vapor permeable and vapor impermeable. The vapor impermeable segment accounted for a larger market share in 2021. Vapor-impermeable air barriers are designed to block moisture vapor and air while allowing virtually no passage of water vapor through the material. For hot and humid regions, where air flows from the inside to the outside year-round, an impermeable air barrier will most effectively block moisture from entering the wall cavity. Moreover, these barriers will often offer the best protection against moisture accumulation in the wall systems in hot and humid regions. Thus, the factors mentioned above are responsible for the segment’s growth.
Based on application, the air barriers market is segmented into residential, commercial, and industrial. The residential segment accounted for the largest share in 2021. The use of air barriers for residential purposes is increasing. The most common air barrier material is house wrap, which is wrapped around the exterior of a house during construction. Air Leakage in homes can increase heating and cooling costs, cause moisture damage in walls, allow pollutants and debris to collect in wall interiors, and provide openings for insects and rodents to enter the house. Therefore, the demand for air barriers is increasing and is expected to drive the segment's growth over the forecast period.
Impact of COVID-19 Pandemic on Air Barriers Market
Supply chains were disrupted significantly due to nationwide lockdowns and border restrictions enacted by various governments during the COVID-19 pandemic, affecting the production and distribution of construction materials. Manufacturers of air barriers faced significant challenges due to supply chain constraints. The disruption in supply chains created a shortage of raw materials, which affected the production and distribution of various ingredients, leading to increased prices. Moreover, the chemicals & materials industry suffered serious disruptions in supply chains, along with the shutdowns of production plants, in the initial phases of the pandemic, which hampered their manufacturing outcomes, delivery schedules, and goods sales.
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