Increasing construction activities in regions such as Asia-Pacific and North America coupled with growing demand for faster and lighter construction roofing materials such as TPO in Europe and North America to drive global roofing membranes market through 2024
According to TechSci Research report, “Global Roofing Membranes Market By Product Type, By Installation Type, By End-User Industry, By Region, Competition, Forecast & Opportunities, 2024”, global roofing membranes market is forecast to reach $ 21.60 billion by 2024. Roofing membranes are seals that are covered around building roofs and tanks, generally laid in big sheets. Roofing materials such as EPDM and TPO are anticipated to be the leading segments during the forecast period, owing to the durability and stability they provide to membrane. The market for roofing membranes is driven by cost-effectiveness and efficiency of waterproofing membranes, government policies related to public infrastructure growth and rising population, which is leading to growing number of residential construction projects in developing countries. On the other hand, fluctuating prices of raw materials are hampering the growth of global roofing membranes market.
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Considering the roofing membranes market at the regional level, Asia-Pacific is expected to emerge as the fastest growing market for roofing membranes during the forecast period. On the other hand, North America roofing membranes market, which dominated the global market in 2018, is expected to maintain its market dominance in coming years, backed by use of faster and lightweight construction techniques and growing construction industry in countries such as Canada, US and Mexico.
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“Rapid industrialization and rising construction activities are anticipated to further propel the demand for roofing membranes across the globe. Moreover, emerging economies continue to account for a considerable share of the global roofing membranes market, resulting in lucrative growth opportunities for market players. Additionally, Middle Eastern countries like Saudi Arabia, UAE and South Africa are expected to contribute to the growth of the market, owing to growing demand for roofing membranes.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
““Global Roofing Membranes Market By Product Type, By Installation Type, By End-User Industry, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global roofing membranes market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in global roofing membranes market.
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