NEWARK, Del, March 05, 2024 (GLOBE NEWSWIRE) -- The elastomeric membrane market had an estimated market size of US$ 45.9 billion in 2023 and is expected to reach a global market size of US$ 98 billion by 2034, increasing at a CAGR of 7.1% between 2024 and 2034. By 2024, the market for elastomeric membranes is likely to reach a valuation of US$ 49.6 billion.
Global building projects are seeing an increasing need for waterproofing solutions, which is propelling the elastomeric membrane market. Elastomeric membranes offer efficient waterproofing, preventing water damage and prolonging the life of roofs, foundations, and other structures. This need is most noticeable in areas that frequently experience floods and torrential rains.
The market for elastomeric membranes has an opportunity since green construction techniques are becoming more and more popular. In addition to their energy- and environmentally-friendly characteristics, elastomeric membranes are ideally suited to fulfill the criteria for green building certifications like LEED, offering manufacturers a substantial chance to focus on construction projects that prioritize environmental sustainability.
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Key Takeaways from the Market Analysis
- The global demand for elastomeric membrane services reached US$ 33 billion in 2019.
- It is expected that the sheet elastomeric membrane would attain a 7% CAGR through 2034.
- It is projected that elastomeric membrane will be highly used for roofs and walls and gain a 52.1% market share in 2024.
- The market in the United States is anticipated to rise through 2034 at a 7.1% CAGR.
- It is projected that the elastomeric membrane ecosystem in the United Kingdom will evolve at an 8% CAGR between 2024 and 2034.
“The elastomeric membrane market is expanding due to a growing focus on sustainable building methods, such as the use of environmentally and energy-efficient materials. These membranes support sustainable construction practices and provide longevity and weather resistance,” - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.
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The key players in this market include:
- BASF SE
- Carlisle Companies Inc.
- Copernit S.P.A.
- Firestone Building Products Company
- GCP Applied Technologies Inc.
- Johns Manville
- Kemper System
- Paul Bauder GmbH & Co. Kg
- Soprema Group
- Standard Industries Inc.
Competitive Landscape
Leading companies in the global elastomeric membrane market are continually pursuing research and development to bring innovative materials and production methods to market. In order to fulfill changing consumer needs and strict regulatory requirements, they concentrate on improving product performance, durability, and sustainability.
Strategic alliances and joint ventures are also sought for in order to broaden market penetration and seize new possibilities. In addition, marketing and distribution channel expenditures are made to bolster brand recognition and successfully enter a variety of end-user markets, including healthcare, automotive, and construction.
Startups in the global market are emphasizing disruptive ideas, agility, and customer-centric methods. To stand out from the competition and obtain a competitive advantage over well-established competitors across a range of sectors, they seek to deliver innovative solutions, take advantage of developing technology, and target specialized market segments.
Key Developments
- In 2023, BASF and Oriental Yuhong, China's largest producer of Thermoplastic Polyolefin (TPO) roofing membranes, are collaborating to create solar roofing membranes for buildings. The goal of the latest project is to supply rooftop solar panels, a need that is expanding quickly in China.
- The performance of TPO roofing membranes in terms of waterproofing has become crucial as the nation's solar PV installations have reached a record high of 51 gigawatts, with roofs accounting for more than one-third of the installed capacity in 2022.
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Key Segments Profiled in the Elastomeric Membrane Market
By Type:
- Sheet
- Liquid Applied
By Application:
- Roofs & Walls
- Underground Construction
- Wet Areas
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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