PUNE, India, September 29, 2017 /PRNewswire/ --
According to a new market research report "Elastomeric Membrane Market by Type (Sheet, Liquid Applied), Application (Roofs & Walls, Underground Construction, Wet Areas), End-use Industry (Non-residential, and Residential Construction), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to reach USD 41.10 Billion by 2022, at a CAGR of 6.7% from 2017 to 2022.
Browse 85 Market Data Tables and 33 Figures spread through 142 Pages and in-depth TOC on "Elastomeric Membrane Market"
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Among types, sheet elastomeric membrane led the elastomeric membrane market in 2016
Elastomeric sheet membrane is the largest type of the elastomeric membrane market owing to high demand in the non-residential construction end-use industry where flat roofs are common. Moreover, sheet membrane also includes membranes such as TPO and EPDM that enhance energy savings. These membranes reduce energy consumption in buildings and are environment friendly. Hence, increasing regulations related to energy optimization are expected to lead to an increase in the demand for these membranes.
Among applications, the roofs & walls segment is projected to grow at the highest CAGR during the forecast period
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 has further fueled the use of elastomeric membranes in this application.
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Among end-use industries, the non-residential construction segment expected to lead the elastomeric membrane market during the forecast period
The non-residential construction end-use industry is the largest and fastest-growing segment owing to high demand for the elastomeric membrane in commercial buildings in the flat roofs application. Due to growing industrialization and globalization, the non-residential sector is expected to experience rapid growth in commercial and institutional constructions. Moreover, the penetration of the elastomeric membrane is higher in this segment as it is expensive and hence affordable in non-residential construction projects which have high budgets.
The Asia-Pacific elastomeric membrane market is projected to grow at the highest CAGR during the forecast period
Asia-Pacific is the largest and the fastest-growing market for the elastomeric membrane. It is also a major construction market globally. Cheap labor, cheap & accessible raw materials, and growing public infrastructure projects have boosted construction activities, leading to the increasing demand for the elastomeric membrane in this region.
Key players in the elastomeric membrane market
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.
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