Bitumen Membrane Market Expected to Experience Attractive Growth through 2026
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Stratview Research has published a new report on the Bitumen Membrane Market, segmented by Grade Type (Atactic Polypropylene [APP] and Styrene-Butadiene-Styrene [SBS]), by Product Type (Sheets [Residential, Non-residential, Automotive, and Others] and Liquid [Residential and Non-residential]), by Application Type (Residential, Non-Residential, Automotive, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
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Market Highlights
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.
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Covid Impact
Covid-19 has impacted the market dynamics, competition, and global supply chain of every possible market one can think of. The revenues for many, have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operations and strategy will sustain and beat the competition.
Segmentation –
This report studies the Bitumen Membrane Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:
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.
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.
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.
Following are the key players in the Bitumen Membrane Market:
· 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.
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