DUBLIN, Nov. 9, 2018 /PRNewswire/ —
The “Exterior Sheathing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” report has been added to ResearchAndMarkets.com’s offering.
The global exterior sheathing market reached a value of US$ 6.2 Billion in 2017. The market value is further expected to reach US$ 8.4 Billion by 2023, exhibiting a CAGR of around 5% during 2017-2023.
There are two types of sheathing, namely, structural sheathing which offers additional strength to the frame structure, and non-structural sheathing that provides insulation and increases the R-value of the building. Exterior sheathing panels provide strength, rigidity, shear resistance and form a nailing base for the siding. Besides this, they are manufactured with water-resistant and wax-treated materials which offer a protective covering from harsh weather and external elements. Moreover, the employment of advanced sheathing materials maximizes space for cavity insulation and minimizes the potential for insulation voids, proving to be an energy-efficient and cost-effective solution.
Global Exterior Sheathing Market Drivers:
The development of more efficient building technologies, such as automated production and installation processes, has created a direct impact on the dynamics of the construction industry. Additionally, rising environmental concerns have led the builders to shift towards green construction materials in order to reduce their carbon footprint, thereby creating a positive demand for exterior sheathing materials.
Expansion in the urban infrastructure sector, due to rising population and the substantial recovery from economic recession, has led to an increase in the construction activities, particularly in the emerging economies like Africa and Asia.
Exterior sheathing materials like wood fiber panels and foam (insulating materials) are increasingly being used in the construction industry as they are cost-effective and meet the energy code requirements. Growing utilization of these materials to increase energy-efficiency and cost savings is anticipated to boost the growth of the market in the coming years.
Breakup by Sheathing Type
On the basis of sheathing type, the market has been segmented as structural and non-structural sheathing. The structural sheathing segment is further segregated into OSB (oriented strand board), plywood, wafer board and gypsum. On the other hand, the non-structural sheathing segment is divided as fiber board, foam board, particle board and insulation board. Currently, structural sheathing dominates the market, holding the largest market share.
Breakup by Application:
Based on the application, exterior wall sheathing represents the largest application area, accounting for the majority of the total share. Other major applications include roof, windows and doors, and others.
Breakup by End-Use
The market has also been categorized on the basis of end-use into commercial, industrial and institutional sectors. Amongst these, the commercial sector accounts for the majority of the market share.
Region-wise, the market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Amongst these, North America is the biggest market, holding the largest share. This can be attributed to the increasing improvement and repairing activities in the region.
The report has also analyzed the competitive landscape of the global exterior sheathing industry and provides profiles of the key players operating in it.
For more information about this report visit https://www.researchandmarkets.com/research/qvpxlj/exterior?w=5
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SOURCE Research and Markets