Roofing Membrane Market Size and Growth Rate:
The Global Roofing Membranes Market Size was valued at USD XX Million in 2018. The Roofing Membranes Market is expected to exceed USD XX million by 2023 and grow at a compound annual rate of XX% from 2018 to 2023.
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Roofing Membrane Market Overview:
A roofing membrane is a type of roofing system for buildings and tanks. In the covering of the large-area roofs of commercial and industrial buildings, and for renovation projects, thermoplastic polyolefin membranes offer considerable advantages
Roofing Membrane Market Growth Drivers and Restraints:
The growth of construction activity in emerging countries is a major key factor expected to propel the growth of the market during the forecast period. Moreover, the recent increase in per capita income in emerging economies is propelled to augment the adoption of technologically upgraded products over the forecast period. Thermoplastic polyolefin roofing membranes are the fastest-growing commercial roofing membrane segment and have gained the wide acceptance in different industries for their installation advantages at competitive prices and ability to offer good performance for a longer period of time.
Some other benefits of thermoplastic polyolefin roofing membranes are durability, eco-friendly chemistry, recyclability, flexibility, heat resistance, lower labor requirement, and low installation costs for efficient roofing systems. Increasing demand for cost-effective roofing membranes is expected to create an area of opportunity for the growth of the market over the forecast period. Moreover, local manufacturers are introducing newer products to capitalize on people’s increasing purchasing power
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Roofing Membrane Market Geographical Segmentation:
In terms of geography, the roofing membranes market is classified into Europe, Asia Pacific, North America, Middle East and Africa (MEA), and Latin America. All these regions are seeing a growing demand for roofing membranes due to increasing governmental investments on account of infrastructural developments. North America dominated the global demand in 2015 in terms of revenue. The U.S. and Canada are anticipated to experience rapid growth, propelling the usage of roofing membranes in North America.
Rapid industrialization and growing construction activities are expected to drive the demand for roofing membranes in this region. Furthermore, growing countries proceed to garner a considerable share of the global roofing membranes market, creating huge opportunities for market players. Asian countries like China, India, and Japan have witnessed an increase in the demand for roofing membranes. In addition, Middle Eastern countries such as Turkey, Qatar, and Saudi Arabia will contribute to the growth of the market due to the growing demand for roofing membranes.
Keyplayers of the Roofing Membrane Market:
Some of the key players actively present in the roofing membranes market are The Dow Chemical Company, Soprema Group, Carlisle Companies Inc., Sika AG, Firestone Building Products Company, LLC, BASF SE, GSE Environmental, Johns Manville, and GAF Materials Corporation.
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