The elastomeric membrane market is projected to reach USD 41.10 Billion by 2022, at a CAGR of 6.7%. The elastomeric membrane market is expected to be driven by increasing residential and non-residential construction projects that are resulting in the growth of the construction industry. Moreover, regulations for energy optimization are increasing in order to address environmental concerns. Since elastomeric membranes such as TPO and EPDM contribute to energy savings, these regulations are expected to drive the elastomeric membrane market.
Download PDF Brochure to know more: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=40007366
On the basis of end-use industry, the elastomeric membrane market has been classified into residential construction and non-residential construction. The non-residential construction segment is both, the largest and the fastest-growing. Growing foreign investments in the construction industry, high-end commercial projects, and industrial development are expected to drive this segment. Growing construction of commercial buildings such as shopping malls, multiplexes, show rooms, institutional buildings, offices, and industrial buildings are resulting in the growth of the market. Industrial construction projects are also increasing due to growing manufacturing activity and growth in retail construction to meet consumer needs. These factors are cumulatively expected to result in high growth of the elastomeric membrane market in this sector.
Roofs & walls is the largest and fastest-growing application of the elastomeric membrane market owing to the high demand for sheet membranes in non-residential flat roofs. Elastomeric membrane is widely used in exterior applications and hence is a preferred choice in roofing. It can sustain adverse climatic conditions and improves the durability of roofing systems. Increasing construction of commercial and industrial buildings have further fueled the use of elastomeric membranes in this application.
Based on region, the elastomeric membrane market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. The Asia-Pacific elastomeric membrane market is the largest and fastest-growing market due to substantial investments in residential and non-residential construction projects to meet the housing and infrastructural needs of the growing population. Cheap labor, cheap & accessible raw materials, and public infrastructure projects have boosted construction activities, thereby, increasing the demand for elastomeric membrane in this region.
The key players operating in the elastomeric membrane market are BASF, Sika, Carlisle Companies Inc., SOPREMA, Kemper System, Saint-Gobain, Firestone Building Products Company, Johns Manville, GCP Applied Technologies Inc., and Standard Industries Inc. These companies undertake dynamic business strategies that lead to propelling the growth of the elastomeric membrane market. However the market is restrained due to fluctuating raw material prices.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
