Bitumen Membrane Market Projected to Grow at a Steady Pace During 2021-2026

November 12, 2021

Stratview Research releases a new insightful report on the Bitumen Membrane Market, that makes efforts at providing deep insights into numerous factors that are vital to the growth of this industry.

The information presented in this report will outline the present and upcoming trends in the market, analyst opinions and views, competitive landscapes, and key regions from a systematic perspective. This report on the Bitumen Membrane Market provides an analysis of the key trends in business and forecasts the future directions of the market. The procedure and analysis used in this report assesses the strengths and weaknesses of market participants, key market drivers, and challenges. It identifies significant market players, provides split analyses, and forecasts, among other insights.

Market Dynamics

The market experts at Stratview Research identify and evaluate the criteria which are vital for studying a market: The key customers, product, affecting trends, pricing, competition, financing, and growth factors. The user can take a critical insight at how, why, and when the market is roaring high and also can find the loopholes in it.

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According to the present report, Bitumen Membrane Market is likely to witness a CAGR of 5.5% during the forecast period. Major factors such as rapid growth of the construction industry, surge in demand in automotive sector, and easy availability of products are expected to drive the growth of the market. In addition, the rise in urbanization, increase in commercial projects, growing population in India and China are likely to fuel the growth of the market during the forecast period.  

Key players mentioned in the report are -

Some of the major players mentioned in the report are listed below-

• Soprema International
• BTM
• BMI Group
• IKO Group
• Johns Manville
• Firestone Building Products Company LLC
• Ardex
• Tiki Tar
• Isoltema Group
• Baumerk
• Jiangsu Changzhou Xinyuan Waterproof Equipment factory
• Total S.A.
• BASF SE
• ΝORDIA S.A.
• Bondall.

Market Segments' Analysis

Bitumen Membrane Market Share: By Grade Type

Based on the grade type, the market is segmented as APP (Atactic Polypropylene) and SBS (Styrene-Butadiene-Styrene). Atactic Polypropylene (APP) is expected to witness significant growth rate in the market during the forecast period as it provides protection to commercial and residential buildings. APP is widely used for the application of waterproofing such as on the terrace or house roofs, curtain walls, sloping concrete floors, and foundations. Besides, it offers many superior features such as outstanding life expectancy, superior weather tolerance, better usability, remarkable adhesive properties, robust dimensional durability, excellent chemical resistance, and high tolerance to puncturing & mechanical injury which drives the segment’s growth. 

Bitumen Membrane Market Share: By Product Type

Based on the product type, the market is segmented as sheets and liquid. The liquid product type is expected to register high growth rate in the market owing to its environment-friendly properties and easy applicability. Also, its other features such as its ability to dry quickly and excellent adhesiveness, superior abrasion & tear resistance are likely to boost its demand in the market during the forecast period.

Bitumen Membrane Market Share: By Application Type

Based on the application type, the market is segmented as residential, non-residential, automotive, and others. The non-residential application type segment is estimated to account for the major share of the market during the forecast period on account of the growing demand for various commercial projects such as malls, office buildings, educational institutions, and hospitals. In addition, the building & construction industry requires high-performance materials that are strong, lightweight, high-performance, durable, and versatile, which is expected to drive the market growth during the forecast period. 

Bitumen Membrane Market Share: By Region

In terms of regions, Europe is the largest market for bitumen membranes, owing to the vast array of bitumen products used in the major roof systems of the region. Europe is likely to maintain its dominance during the forecast period driven by the presence of mature construction and automotive industries in the region. On the other hand, North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Author : Meha Prasad