Bitumen Membranes Market Analysis

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.