The global exterior sheathing market has been witnessing a positive growth over the past few years. This can be attributed to the soaring global population, mounting urban infrastructural and construction activities, and increasing environmental concerns which have led to a rise in the demand for green building materials.
As per the latest report by IMARC Group, entitled “Exterior Sheathing Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global exterior sheathing market value reached of more than US$ 6.6 Billion in 2018. Exterior sheathing refers to a supportive structure which is used in roof, wall and floor assemblies. It is fixed to the external framing as an underlayment that helps in creating a smooth and levelled surface for attaching the finished material. Exterior sheathing is made from water-resistant and wax-treated materials that improve insulation by providing a shield against external weather conditions. Additionally, it aids in strengthening the overall building structure and averts any energy leaks. The employment of an advanced sheathing material minimises the risk of insulation voids and maximises the space for cavity insulation.
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As exterior sheathing materials, such as foam and wood fiber panels, are cost-effective and fulfil the energy code requirements, they are increasingly being used in the construction industry for commercial as well as other purposes. On account of growing environmental concerns, builders are shifting towards green building materials so as to reduce their carbon footprint which, in turn, is contributing to the market growth. Moreover, expanding global population and recovery from economic recession have risen the demand for urban infrastructure, thereby proliferating construction activities, particularly in the emerging regions. Besides this, the development of efficient building technologies like automated production and installation processes is expected to create a positive outlook for the market in the coming years. Looking forward, the exterior sheathing market size projected to exceed a value of US$ 8.8 Billion by 2024, expanding at a CAGR of 5% during 2018-2023.
• Based on sheathing type, the market is segregated as structural and non-structural exterior sheathing. The structural exterior sheathing segment is further divided into OSB (oriented strand board), plywood, wafer board and gypsum. Whereas, the non-structural exterior sheathing is segregated as fiber board, foam board, particle board and insulation board. Presently, structural exterior sheathing accounts for the dominant share.
• The exterior sheathing market has also been segmented on the basis of application into wall, roof, windows and doors, and others. Currently, exterior wall sheathing holds the largest share, representing the most popular segment.
• Based on end-use, the market is categorised into commercial, industrial and institutional sectors. Amongst these, the commercial sector dominates the market, accounting for the majority of the market share.
• Region-wise, North America is the leading market as a result of escalating repairing activities in the region. Apart from North America, other major markets include Europe, Asia Pacific, Latin America, and Middle East and Africa.
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