North America 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)
The North America air barrier market is expected to grow from US$ 3,838.62 million in 2022 to US$ 5,008.73 million by 2028. It is estimated to grow at a CAGR of 4.5% from 2022 to 2028.
Growth of Residential Construction Sector is Driving the North America Air Barrier Market
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 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. In addition, the pandemic created a demand for housing in areas away from crowded cities, and many homebound workers decided to invest in home improvement projects. The 3.8 million units are needed to not only meet the demand from the growing number of households but also to maintain a target vacancy rate of 13%, which is boosting the residential construction sector is driving the demand for air barriers which in turn is boosting the North America air barrier market.
North America Air Barrier Market Overview
The US, Canada, and Mexico are the key economies in North America air barrier market. Growth in the economies of these countries along with development in the construction sector is a major factor influencing the growth of the market. High investments in R&D activities to produce innovative barriers and insulations, such as cellulose and OSB material barriers, will boost the sales of air barriers. The private construction sector is growing at a notable growth rate and contributing to more than 70% share of the construction industry in North America. Moreover, the presence of leading companies such as DuPont, Owens Corning, 3M Company, and Carlisle Companies is expected to bolster the growth of the North America air barrier market.
The construction sector in North America is rapidly developing due to a robust economy and increased federal and state financing for public works and institutional structures. According to the American Institute of Architects (AIA), commercial building investment in North America is increasing year after year. Over the projection period, construction investment is expected to expand at a breakneck pace. All these factors are boosting the demand for North America air barrier market.
North America Air Barrier Market Revenue and Forecast to 2028 (US$ Million)
North America Air Barrier Market Segmentation
The North America air barrier market is segmented into category, type, application, and country. Based on category, the market is segmented into coating and membrane segment. The coating segment registered a larger market share in 2022.
Based on type, the North America air barrier market is segmented into vapor permeable and vapor impermeable. The vapor impermeable segment registered a larger market share in 2022. Based on application, the North America air barrier market is segmented into residential, commercial, and industrial. The residential segment registered the largest market share in 2022. Based on country, the market is segmented into US, Canada, and Mexico. US dominated the market share in 2022. 3M Co; BASF SE; Carlisle Companies Inc; Dow Inc; GCP Applied Technologies Inc; General Electric Co; Henry Co; TK Products Construction Coating; VaproShield LLC; and W. R. Meadows Inc are the leading companies operating in the North America air barrier market.
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