Lucintel anticipates that Asia Pacific will be the fastest growing region for the global waterproofing membrane market
According to a new market report published by Lucintel, the future of the waterproofing membrane market looks promising with opportunities in the residential and non-residential construction industries. The global waterproofing membrane market is expected to reach an estimated $24.2 billion by 2021 and is forecast to grow at a CAGR of 4.3% from 2016 to 2021.
The major growth drivers for this market are increasing construction activities and cost-effectiveness of waterproofing membranes.
In this market, bitumen, polyvinyl chloride (PVC), thermoplastic polyolefin (TPO), polyurethane, and ethylene propylene diene monomer (EPDM) are the materials used to make the waterproofing membrane.Lucintel forecasts that bitumen will remain the largest segment due to ease of availability and lower cost.
Lucintel predicts that demand for TPO based water proofing membrane is likely to experience the highest growth in the forecast period because of its attractive properties of being eco-friendly and easy to install; TPO is also lightweight and offers superior heat resistance.
Within the waterproofing membrane market, the largest application will continue to be roofing and wall; it is also expected to witness the highest growth over the forecast period from 2016 to 2021. Over the forecast period, growth in the roofing and wall applications will likely be driven by increased demand for single ply roofing, growing energy efficient roofing solutions, and the increasing retrofit market in Europe and North America.
Asia Pacific is expected to remain the largest market and is also expected to witness the highest growth over the forecast period because of growth in building and construction sectors and the increasing awareness of maintaining buildings for a longer lifespan.
For business expansion, the report suggests innovation and new product development to ease of use, to offer low maintenance, and to be substrate compatible.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of breathable waterproofing membrane and growing use of eco-friendly materials. Sika AG, BASF, Saint-Gobain, Soprema Group, and Firestone Building Products are among the major suppliers of waterproofing membrane.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global waterproofing membrane market by material, application, form, and region. Lucintel has prepared a comprehensive research report entitled “Global Waterproofing Membrane Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the global waterproofing membrane market by material, application, form, and region as follows:
By material [Volume (Million Square Meter) and $M shipment analysis for 2010 – 2021]:
By application [Volume (Million Square Meter) and $M shipment analysis for 2010 – 2021]:
- Roofing & Wall
- Building Structures
- Waste & Water Management
- Landfill & Tunnel
By form [Volume (Million Square Meter) and $M shipment analysis for 2010 – 2021]:
- Liquid Applied
- Sheet Based
By region [Volume (Million Square Meter) and $M shipment analysis for 2010 – 2021]:
- North America
- Asia Pacific
- Rest of the World
This 235-page research report will enable you to make confident business decisions in this globally competitive marketplace.
For more information:Make an Inquiry about this report HERE!