Selbyville, Delaware, July 29, 2019 (GLOBE NEWSWIRE) --
The bitumen membranes market is poised to rise from around $2.5 billion in 2018 to $3.5 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Development of global construction sector will be the chief driver for the market growth.
U.S. is one of the largest investors in construction sector. 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 membranes 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 bitumen membranes market demand throughout the forecast timespan.
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Escalating growth in global automotive production will also drive the bitumen membranes market demand during the forecast period. Global automotive production has increased by over 5% between 2015 and 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.
SBS grade will have growth rate around 5.5% during the forecast timespan. It can be attributed to increasing demand for SBS bitumen membranes in the construction sector. This product variant possesses exceptional elongation characteristics, excellent dimensional stability and superior strength. APP bitumen membranes market will have majority of share throughout the forecast timespan.
Sheets product category will have the leading bitumen membranes 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.
Browse key industry insights spread across 240 pages with 310 market data tables & 22 figures & charts from the report, “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 (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/bitumen-membranes-market
Residential construction sector is a key application segment in the 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 bitumen membranes market will account for more than 20% of the global share, 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 membranes 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.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.