According to Future Market Insights (FMI), the global market of air barrier registered a year-on-year (YoY) growth of 4.8% in 2022.
Witnessing the industry’s much anticipated shift from the traditionally preferred gypsum board to sustainably superior spray foam, the global air barrier market value will exceed US$ 16,932.8 Mn by 2022 end. A recent research study of Future Market Insights (FMI) suggests that the overall growth of the market for air barrier will be moderate during the period of forecast, 2022 – 2029.
Increasing installations of insulation systems is particularly driving the demand for air barrier in the residential building sector. However, the demand will also see a considerable rise in commercial and industrial sectors in the following years. This demand growth is attributed to the increasing stringency of regulations and industrial building code of conduct, says the report.
Demand for air barriers has been growing at a stable pace over the past decade, due to stringent norms compelling manufacturers to build energy-efficient walls. To sustain and strengthen their market share in the air barrier market, players have started focusing on the development of novel techniques and methods that are efficient, effective, and offer additional functionalities.
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Key Takeaways – Air Barrier Market Study
Market Landscape Remains Fairly Consolidated
The global air barrier market is a fairly consolidated competition landscape, with a limited number of players dominating nearly the entire air barrier manufacturing and supply scenario. High price point associated with raw materials, high manufacturing costs, and established foothold of existing manufacturing companies would continue to pose major challenges in front of potential new entrants in the global air barrier market.
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Smaller players operating in the air barrier landscape, on the other side, will continue to invest in organic growth strategies such as acquisitions, collaborations, and joint ventures. One of the globally leading players in air barrier market that have been profiled in the report includes Owens Corning that currently accounts for more than 18% of the total market share.
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Dec 28, 2022