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Vapour Barrier Market Recorded Strong Growth in 2019; COVID-19 Pandemic Set to Drop Sales

The global vapour barrier market is on a steady growth trajectory, primarily driven by the rising number of infrastructure development activities. Projecting the market growth at a moderate CAGR of 4%, a new market study by Future Market Insights (FMI), provides a detailed analysis of the market and the COVID-19's impact on the market.
In recent times, infrastructure development activities in the private, public, commercial, and residential sectors are inclining towards green building concepts on the back of growing environmental awareness, subsequently leveraging the amenities of modern technological advancements. Owing to this fact, the demand for vapour barriers is propelling over the forecast period (2019 - 2029).
"The market facing an adversary in the form of global outbreak of COVID-19 that has led the construction activities to a standstill for an indefinite period of time. With mounting restrictions on movement, the trade is taking the blow. BASF Group, a prominent player, has issued a statement stating that the viral infection could result in the second year of falling profit for the company and reduce the production to about 1.2%. That would be the worst growth for the sector since the Great Recession in 2008 and a significant dip compared to 2019 when it grew 1.8%. While the statement stands true to the overall chemical industry, the impact of the pandemic on vapour barrier segment is inevitable," says the FMI analyst.
Segmental Highlights
Polymer vapour barriers, owing to their excellent resistance properties, are likely to garner traction in the near future.
Polyethylene will remain the most sought-out polymer type, accounting for nearly 60% of overall share, owing to the low-cost factor associated with low-density polyethylene (LDPE), and is expected to grab high attention of manufacturers.
Asphalt & Bitumen vapour barriers, which are currently being used widely, especially in concrete foundations, will witness a decline in demand due to the shortcomings that retrain the material in applications with consistent exposure to sunlight.
Drywall board lumber and gypsum board are anticipated to exhibit rapid growth both in terms of volume and value.
Membrane type vapour barriers will register remarkable growth and maintain a dominating share on the back of the easy installation.
North America will persist its dominance throughout the forecast period, on the back of stringent government regulations for improving the overall efficiency and comfort of existing homes as well as of ongoing housing developments.
Request the coronavirus impact analysis across industries and markets https://www.futuremarketinsights.com/covid19/rep-gb-3084
Asia is expected to bestow substantial revenue opportunities for players in the vapour barrier market, backed by flourishing construction industry in China, and India. However, the ongoing pandemic is likely to put a pause on the rapid growth in the immediate future.
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Press-Release Source – https://www.accesswire.com/585201/Vapour-Barrier-Sales-Set-for-Gradual-Growth-COVID-19-Likely-to-Disrupt-the-Steady-Growth-Trajectory-Says-FMI-in-a-New-Study
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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