Bitumen Membranes Market study explores varied topics such as the regional market scope, products, suitable applications, market size pertaining to the individual product type, revenue and sales with respect to the region, manufacturing chain details, production cost analysis, an analysis of the parameters impacting the business, market size projection, etc.
Rapidly growing automotive industry is another growth enabling factor for bitumen membranes market. Bitumen membranes are utilized in coating applications of automotive components. Surge in vehicle production in the developing regions due to increasing demand for personal vehicles may further boost product proliferation.
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Initiation of smart city projects in line with the infrastructural development programs across various regions will also boost industry growth. For instance, programs initiated by Indian government, such as AMRUT (Atal Mission for Rejuvenation and Urban Transformation) and smart city projects in major cities of the country are aimed at improving the rural and urban infrastructure along with the living standards of the regional population.
This advanced report on the bitumen membranes market includes an in-depth overview of this business sphere. Alongside, details of the present market size and status have been given. The report aims to provide substantial updates on the market, pertaining to the development status as well as the latest trends characterizing the market.
Bitumen Membranes Market growth will be driven by expanding real estate sector coupled with government initiatives to build and develop infrastructure across emerging economies. In the construction sector bitumen membranes are widely utilized due to unique product properties, including waterproofing and rust proofing. They also provide protection to concrete structures against moisture and extreme weather conditions, hence increasing durability of the infrastructure.
Moreover, upcoming construction projects in China and UAE will also propel bitumen membranes market demand In terms of revenue, bitumen membranes market is forecast to cross the USD 3.5 billion mark by 2025.
In terms of grades, bitumen membranes can be classified as APP (abbreviated as atactic polypropylene) and SBS (abbreviated as styrene butadiene styrene). SBS grade segment is likely to showcase an impressive growth rate of above 5.5% over the analysis period. Superior product features, such as dimensional stability, better elongation properties and excellent strength has resulted in inflated demand from the construction industry.
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On the basis of product type, the bitumen membrane industry is categorized into liquids and sheets. Liquid bitumen membranes are witnessing massive demand from the construction industry due to their excellent waterproofing properties, superior performance in varying temperature conditions, and compatibility with wet substrates.
In terms of application scope, the industry is segregated into non-residential, residential, automotive, and other applications. The non-residential applications are likely to account for substantial bitumen membranes industry demand over the projected timeline due to widespread product utilization in commercial buildings such as malls, office buildings, educational institutes, hospitals etc. Superior waterproofing quality of bitumen membranes offering increased durability is responsible for its growing usage in the non-residential segment.
Europe bitumen membranes market is expanding at a massive pace and is likely to hold around 35% in the overall share over the analysis period. Stable automobile and construction sectors within the region are offering lucrative growth scope for the industry.
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