Bitumen Membranes Market Size By Grade (Atactic Polypropylene [APP], Styrene-Butadiene-Styrene [SBS]), By Product (Sheets, Liquid), By Application (Residential, Non-Residential, Automotive), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Bitumen Membranes Market Size

Bitumen Membranes Market size estimated at USD 2.5 billion in 2018 and will grow at a CAGR of around 5% from 2019 to 2025.
 

Remarkable development in the construction industry, especially in Asia Pacific region is the chief factor driving the growth of global bitumen membranes market. Asia Pacific has the largest market share in the global construction industry, majorly driven by China, Japan and India. Increasing urbanization, rising population in India & China, low cost labors and government initiatives will drive the regional construction industry.
 

Bitumen membranes are extensively used in building & construction activities as they provide superior waterproofing and rust proofing features. These membranes are applied in forms of sheets or emulsions in order to make the concrete structures resistant to damage due to moisture, hence extending its lifespan.
 

China, the world’s largest country in terms of construction spending, continues to invest in regional construction sector for increasing industrial development. In 2013, China had around 50% share of the total construction spending in Asia Pacific region. In addition to that, Beijing Municipal Commission of Development and Reform has recently announced 300 major construction projects accounting for over USD 33 billion, which includes 100 projects focusing on infrastructure development. Such projects will help China to lead the global construction industry. Government of China has relaxed the regulations for investment in the country’s construction projects which will propel the construction activity. Construction activities in India are also rising at a high rate due to the requirement for industrial infrastructure, rising spending power, public & private investments, favorable government initiatives, etc. Smart City Mission and AMRUT initiative for enhancing the urban living standard and rural development respectively are some steps taken by the Government of India to promote the construction industry. Such trends will drive the demand for bituminous membrane owing to the extensive use of product in construction sector. Additionally, large projects such as Dubai airport, Beijing airport, etc. will also boost the bitumen membrane demand in coming years.
 

Bitumen membranes market may face hindrances due to volatility of the raw material prices. Bitumen is a downstream petrochemical product and fluctuations in the global crude oil industry will have a significant impact on the product demand.
 

Bitumen Membranes Market Analysis

On the basis of grade, the bitumen membranes market is categorized into APP (Atactic Polypropylene) and SBS (Styrene-Butadiene-Styrene). APP grade will dominate the market. APP is widely used for waterproofing application for terrace or roofs of buildings, curtain walls, sloping-concrete roofs, foundations, etc. APP has many superior characteristics such as compatibility, excellent life-expectancy, superior resistance against varying weather conditions, good dimensional stability, outstanding adhesive properties, high resistance against puncturing & mechanical damage, good chemical resistance, etc. Increasing use of APP grade in the construction industry will drive the growth of this segment.
 

Global bitumen membranes market is categorized, based on product, as sheets and liquids. Liquid product type will have higher growth rate owing to increasing adaption of the product type in the construction sector. Liquid bitumen membrane is easy to use, environment friendly, easily repairable and are used as monolithic systems i.e. it can be used without any joint requirement. The main advantages associated with this product type is its longevity of waterproofing action and easy compatibility with wet or damp substrates. It dries quickly, has excellent adhesiveness, superior abrasion & tear resistance and has a good performance under variable temperature conditions.
 

Based on application, the market is segmented into residential, non-residential, automotive and other. Non-residential sector had a dominant market share with more than 50% in 2018. It can be attributed to the extensive product demand for various commercial projects such as malls, office buildings, educational institutions, hospitals, etc. to provide the required waterproofing for walls, terrace, etc.
 

Automotive application segment will have the highest growth rate during the forecast timeframe. Increasing automotive production in the Asia Pacific region coupled with rising global demand for personal vehicles will boost the growth of this application segment. Bitumen membranes are widely used in automotive sector for cap sheet applications.
 

The bitumen membranes market was dominated by the Europe region, which accounted for more than 35% of the overall share in 2018. It can be attributed to the presence of mature construction and automotive industries. The product is extensively used in construction industry which has been showing some growth indications in the past years.
 

Another region occupying significant share in the market is Asia Pacific. Emerging economies in the region has witnessed tremendous growth in construction and automotive industry. Robust urbanization, rising disposable income, and increasing population are the few factors that will drive the growth of the regional market.
 

Bitumen Membranes Market Share

Some of the major players in the bitumen membranes market include

• Soprema International
• BTM
• BMI Group
• IKO Group
• Johns Manville
• Firestone Building Products Company LLC
• Ardex
• Tiki Tar
• Isoltema Group
• Baumerk
• Jiangsu Changzhou Xinyuan Waterproof Equipment factory
• Total S.A.
• BASF SE
• ΝORDIA S.A.
• Bondall

Presence of small regional players in many countries such as China and India have intensified the competition in the market. In order to maintain the competitive advantage, some players incorporate merger & acquisition strategies. For instance, in 2017, BASF acquired Thermotek, which is primarily engaged in waterproofing system in Mexico. It has helped BASF to strengthen its position in Mexico region.

Industry Background

Bitumen membranes are widely used for waterproofing application in the construction industry. Rising construction activities in Asia Pacific region, increasing automotive production and availability of raw materials are some factors that will drive the demand for bitumen membranes during forecast period.