Report : US Air Barrier Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Category (Coating and Membrane), Type (Vapor Permeable and Vapor Impermeable), and Application (Residential, Commercial, and Industrial)
Strong Growth in Residential Construction Sector to Drive Demand for Air Barriers
According to our latest market study, titled “US Air Barrier Market Forecast to 2028 – COVID-19 Impact and Country Analysis – by Category (Coating and Membrane), Type (Vapor Permeable and Vapor Impermeable), and Application (Residential, Commercial, and Industrial),’’ the US air barrier market size was valued at US$ 3,269.13 million in 2022 and is projected to reach US$ 4,283.48 million by 2028. It is expected to grow at a CAGR of 4.6% from 2022 to 2028.
Air barriers are specifically designed to prevent the flow of air and the moisture attached to it from entering a building envelope. An effective air barrier regulates the indoor climate by stopping the transfer of air and the moisture associated with it between the interior and exterior of a home. The US air barrier market trend includes an increasing use of fluid-applied air barriers.
Construction is one of the major contributors to the US economy. According to the Associated General Contractors of America (AGC), the construction industry has more than 745,000 employers with over 7.6 million employees and creates nearly US$ 1.4 trillion worth of structures each year. Residential building construction is the largest US construction market segment. The market for this segment is driven by an increase in government spending on residential construction and a rise in demand for new homes and building improvements. The new government spending from the Infrastructure Bill and budget earmarks to encourage energy-efficient construction is powering additional demand for residential projects. Further, since the COVID-19 pandemic, the growth in the total value of newly built homes in the US has accelerated. The growth in new home values came amid a period of historically low-interest rates as the US Federal Reserve attempted to stimulate the economy during the COVID-19 pandemic. Air barriers are highly used in residential construction as they resist air leakage.
The key players operating in the US air barrier market include BASF SE, Dow Inc, 3M, 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. Players operating in the US air barrier market are focusing on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities and new product launches.
Impact of COVID-19 Pandemic on US Air Barrier Market
The COVID-19 pandemic negatively impacted the construction industry in the US. Various companies announced possible delays in product deliveries and a slump in the future sales of their products in 2020. The pandemic caused inflation in the prices of materials required in the construction industry due to supply chain disruptions, increased labor costs, and high demand. This has negatively impacted the US air barrier market growth. According to the Office of the New York State Comptroller, New York City’s construction employment declined by 14.4% (23,300 jobs) in 2020. In 2020, construction spending in New York City fell from a record high in 2019 to US$ 55.5 billion, an 8.5% decline. Reduced construction activities in residential, commercial, and industrial sectors have negatively impacted the demand for air barriers.
However, the market is reviving on account of significant measures taken by the government, such as vaccination drives. The recovery in the construction industry is led by homebuilding and remodeling sectors. This is expected to provide the impetus for the US air barrier market growth.
The report includes segmentation of the US air barrier market as follows:
Based on category, the US market is segmented into coating and membrane. In terms of type, the US market is segmented into vapor permeable and vapor impermeable. Based on application, the US market is segmented into residential, commercial, and industrial.
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