Polyethylene Vapor Barrier Films For Under Slab Market Size, Share & Trends Analysis Report By Product (HDPE, LLDPE), By Application, By Thickness, By End-use, By Grade, By Region, And Segment Forecasts, 2021 - 2028
New York, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Polyethylene Vapor Barrier Films For Under Slab Market Size, Share & Trends Analysis Report By Product, By Application, By Thickness, By End-use, By Grade, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06134871/?utm_source=GNW
Polyethylene Vapor Barrier Films For Under Slab Market Growth & Trends
The global polyethylene vapor barrier films for under slab market size is expected to reach USD 2.18 billion by 2028. The market is expected to expand at a CAGR of 5.9% from 2021 to 2028. Rising demand for green buildings is projected to fuel the growth of the market during the forecast period. Green buildings are gaining popularity over conventional ones in recent years. Efficient use of energy, water, and renewable energy, reduced operating costs, improved air quality, and reduced overall load on metal structures as compared to conventional buildings are fueling the demand for green buildings.
Furthermore, the increasing influence of social factors, such as creating a sense of community, improving occupant health and well-being, and encouraging sustainable business practices, is propelling the growth of green buildings.In green building construction, polyethylene (PE) vapor barrier films play a significant role in making the building energy efficient.
These films seal the roof against wind and moisture and prevent heat loss as well as improve the air quality by providing maximum protection against moisture, mold, and mildew growth.
Green buildings incorporate the use of eco-friendly and lightweight materials to maintain and improve the indoor air quality and efficiency of energy, water, and other resources.Since an ascending number of polyethylene vapor barrier films are being designed to be environment-friendly, their popularity is expected to increase over the forecast period and act as a driver for the market.
The residential end-use segment is estimated to witness significant growth over the forecast period.
The residential construction sector is primarily driven by the growth in single-family housing units.According to the United States Census Bureau, 903,000 single-family homes and 352,000 multi-family units were completed in 2019.
Factors such as population growth in major cities, low mortgage rates, and a rise in immigrant influx to major cities are propelling the demand for residential housing. In addition, the ongoing transition to a sustainable energy system, especially in North America and Europe, is fueling the demand for residential green buildings, further creating demand for polyethylene vapor barrier films for under slab applications.
Polyethylene Vapor Barrier Films For Under Slab Market Report Highlights
• In terms of product, the linear low-density polyethylene segment accounted for the largest revenue share in 2020 and is expected to witness prominent growth over the forecast period
• The new construction application segment dominated the market and accounted for more than 70.0% of the revenue share in 2020
• In 2020, Asia Pacific accounted for the largest revenue share of more than 50.0%. The growing construction activities are expected to boost the demand for PE vapor barrier films for under slab in the region
• Various strategic initiatives were recorded over the past few years, which helped in boosting the growth of the market. For instance, in November 2020, INEOS Olefins & Polymers USA announced the acquisition of Sasol’s ownership of Gemini High-density Polyethylene (HDPE). Gemini, a startup founded in 2017, is a manufacturer of bimodal HDPE products. The proposed acquisition will allow INEOS Olefins & Polymers USA to further expand its reach in the specialty polyethylene market of pressure pipes and high molecular weight films
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