Bitumen Membrane Market size will likely surpass USD 3.5 billion by 2025; according to a new research report by Global Market Insights Inc.
Development of global construction sector will be the chief driver for the bitumen membrane market growth. U.S. is one of the largest investors in construction sector. The construction spending of the country was around USD 1.3 trillion, which witnessed nearly 6.5% annual growth from 2014 to 2018. Both residential and non-residential construction sectors in the U.S. have witnessed annual growth rate of around 10% and 4.5% respectively. It can be ascribed to ongoing infrastructure development, high-value construction projects, increasing residential construction activities, etc. Bitumen membrane is widely used in construction sector for rust proofing and waterproofing applications, which protects the structural elements from the damage caused by water intrusion. Further development in the global construction sector will prosper the market demand throughout the forecast timespan.
Escalating growth in global automotive production will also drive the bitumen membrane market demand during the forecast period. Global automotive production has increased by over 5% between 2015 and 2018. During the same period, China, the largest automotive manufacturer in the world, has witnessed a growth of more than 10%, whereas Indian automotive sales increased by close to a million units from 2014 to 2018. Bitumen membranes are extensively used as cap sheets for coating purposes. Improvement in disposable income of middle-class populace, rising demand for passenger vehicles coupled with investments and government support will prosper automotive industry growth, which in turn, will prosper the bituminous membranes demand.
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However, volatility associated with the crude oil industry might induce variation in pricing of bituminous membranes, which can hinder the bitumen membrane market revenue throughout the forecast timespan.
SBS grade will have growth rate around 5.5% during the forecast timespan. It can be attributed to increasing demand for SBS bitumen membrane in the construction sector. This product variant possesses exceptional elongation characteristics, excellent dimensional stability and superior strength. APP bitumen membrane market will have majority of share throughout the forecast timespan.
Browse key industry insights spread across 240 pages with 310 market data tables & 22 figures & charts from the report, “Bitumen Membrane 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” in detail along with the table of contents:
Sheets product category will have the leading bitumen membrane market share throughout the forecast timespan. Bitumen sheets have high strength composite reinforcement and are proven adhesives. They have excellent resistance against splitting & thermal shock, superior fire resistance, exceptional toughness, and strength and provides enhanced durability.
Residential construction sector is a key application segment in the bitumen membrane market and will have share of over 30% throughout the forecast timespan. Bituminous membranes are widely used in new construction as well as repairing activities. Increasing residential construction across the world owing to rising spending power, increasing population, etc. will prosper the product demand in residential application segment in near future.
North America will have more than 20% of the total share in bitumen membrane market, which can be ascribed to mature automotive and construction industry in the region. U.S. is the second largest automotive manufacturer and has witnessed significant year-on-year growth between 2017 and 2018. Increasing housing demand due to higher disposable income, rising non-residential construction in the region will prosper the regional market growth.
Some key bitumen membrane market manufacturers are Firestone Building Products Co., Soprema International, Johns Manville, BMI Group, BTM, IKO Group, Ardex, Isoltema Group, Tiki Tar, Baumerk, BASF SE, Total, ΝORDIA, Bondall, etc.
The bitumen membrane market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD Million from 2014 to 2025, for the following segments:
- Atactic Polypropylene (APP)
- Styrene-Butadiene-Styrene (SBS)
Product by application
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia