Strong Growth Forecast For House Wrap Market

The global market for house wraps estimated at US$4.4 billion in 2020, is projected to reach a revised size of $6.5 billion in 2026, growing at a compound annual growth rate of 6.7 per cent, says a report by Research And Markets. The U.S. house wrap market was estimated at $2 billion in 2021, accounting for a 44.72 per cent share in the global market. Other noteworthy geographic markets are Canada and Japan, forecast to grow at 6.3 per cent and 5.3 per cent respectively. Growing demand and a steady launch of innovative products to meet challenges of different climate conditions are projected to help grow the market. Steady replacement of solid wood with engineered wood as the primary building material represents another important growth driver.