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.
Stay Competitive and Request Your Sample Report to Explore Market Opportunities! https://www.futuremarketinsights.com/reports/sample/rep-gb-19090
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 an FMI analyst.
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.
Drive Your Business Growth Strategy: Purchase the Report for Key Insights! https://www.futuremarketinsights.com/checkout/19090
Top Key Players
- 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.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global elastomeric membrane market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the global elastomeric membrane market, the market is segmented on the basis of type (sheet, liquid applied), application (roofs & walls, underground construction, wet areas, others) and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East & Africa).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube