According to the latest report by IMARC Group, titled "Exterior Sheathing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global exterior sheathing market reached a value of US$ 7.7 Billion in 2021. Exterior sheathing is generally used for providing an extra layer of shield against external elements. It is a board or panel material that is widely placed over walls, floors and roofs, which also provides additional structural support and protection from ultraviolet (UV) rays. It is usually manufactured using fiberboard, wood, cement, thermo-brace, and glass mat that offers improved strength to the frame structure while increasing the thermal resistance of the building. There has been a considerable rise in the adoption of sheathing materials due to the easy product availability via online and offline organized distribution channels.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Exterior Sheathing Market Trends:
The global market is primarily driven by significant growth in the construction industry. Along with this, the increasing uptake of sheathings that are manufactured using foam and wood fiber panels as they meet the energy code requirements in a cost-efficient manner is creating a positive outlook for the market. Furthermore, the widespread adoption of eco-friendly materials for construction activities due to the rising environmental concerns among the masses is providing an impetus to the market growth. The market is further driven by increasing investments by public and private agencies in infrastructural development and remodeling projects. Moreover, various technological advancements across the construction sector, including the automated installation and production processes, along with the introduction of efficient building technologies and continuous improvements in the e-commerce industry, are positively impacting the market growth. Other factors, including rapid urbanization, continual product innovations and extensive research and development (R&D) activities conducted by key players, are further projected to drive the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 10.4 Billion by 2027.
- On the basis of the sheathing type, the market has been segmented into structural (oriented strand board, plywood, wafer board and gypsum) and non-structural (fiber board, foam board, particle board and insulation board). Among these, structural sheathing exhibits a clear dominance in the market
- Based on the application, the market has been segregated into walls, roofs, and others. Currently, roof applications account for the majority of the total market share.
- On the basis of the end use, the market has been classified into residential, commercial, industrial and institutional. Presently, the commercial sector represents the largest market segment.
- Based on the regional insights, the market has been divided into the Asia Pacific, North America, Europe, the Middle East and Africa and Latin America. Among these, North America holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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