The global exterior sheathing market was worth US$ 6.6 Billion in 2018. Sheathing refers to a panel or board material which is used in walls, roofs and floor assemblies. It is attached to the external framing as an underlayment of various exterior siding materials such as wood, metal or vinyl siding, masonry veneer, stucco and shingles. 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. Nowadays, manufacturers are employing advanced sheathing materials which maximize space for cavity insulation and minimize the potential for insulation. These sheathing panels also provide strength, rigidity, shear resistance and form a nailing base for the siding.
Rapid expansion in the urban infrastructure sector, due to the rising population and the substantial recovery from the economic recession, has led to an increase in construction activities, particularly in emerging economies like Africa and Asia. As a result, these materials like wood fiber panels and foam (insulating materials) are increasingly being used in these regions for construction as they are cost-effective and meet the energy code requirements. Along with this, the development of more efficient building technologies, such as automated production and installation processes, have created a direct impact on the dynamics of the construction industry. Besides this, with the rising environmental concerns, constructors are shifting toward green construction materials in order to reduce their carbon footprint, thereby creating a positive demand for exterior sheathing materials. Besides this, they are manufacturing exterior sheathing with water-resistant and wax-treated materials which offer a protective covering from harsh weather and external elements. Owing to these factors, IMARC Group expects the market value to reach US$ 8.8 Billion by 2024, exhibiting a CAGR of around 5% during 2019-2024.
Breakup by Product Type:
Structural sheathing currently dominates the market, holding the largest market share. This segment is further segregated into oriented strand board (OSB), plywood, wafer board and gypsum. On the other hand, the non-structural sheathing segment is divided as fiberboard, foam board, particle board and insulation board.
Breakup by Application:
Amongst these, walls represent the largest application segment, accounting for the majority of the market share.
Breakup by End Use:
Based on the end use, the commercial sector enjoys the leading position in the global market.
Region-wise, North America exhibits a clear dominance in the market due to the improvement and repair activities in the region.
The report has also analyzed the competitive landscape of the industry, providing the detailed profiles of the key players operating in it.
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