Global Roofing Membranes Market to Surpass $ 21 Billion by 2024
Increasing construction activities in regions such as
Asia-Pacific and North America coupled with growing demand for faster and
lighter construction roofing materials such as TPO in Europe and North America to drive global roofing
membranes market through 2024
According to TechSci Research report, “Global
Roofing Membranes Market By Product Type, By Installation Type, By End-User
Industry, By Region, Competition, Forecast & Opportunities, 2024”, global roofing membranes market is forecast to
reach $ 21.60 billion by 2024. Roofing membranes are seals that are covered
around building roofs and tanks, generally laid in big sheets. Roofing
materials such as EPDM and TPO are anticipated to be the leading segments
during the forecast period, owing to the durability and stability they provide
to membrane. The market for roofing membranes is driven by cost-effectiveness
and efficiency of waterproofing membranes, government policies related to
public infrastructure growth and rising population, which is leading to growing
number of residential construction projects in developing countries. On the
other hand, fluctuating prices of raw materials are hampering the growth of global
roofing membranes market.
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Considering the roofing membranes market at
the regional level, Asia-Pacific is expected to emerge as the fastest growing market
for roofing membranes during the forecast period. On the other hand, North
America roofing membranes market, which dominated the global market in
2018, is expected to maintain its market dominance in coming years, backed by
use of faster and lightweight construction techniques and growing construction
industry in countries such as Canada, US and Mexico.
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“Rapid industrialization and rising construction
activities are anticipated to further propel the demand for roofing membranes
across the globe. Moreover, emerging economies continue to account for a
considerable share of the global roofing membranes market, resulting in
lucrative growth opportunities for market players. Additionally, Middle Eastern
countries like Saudi Arabia, UAE and South Africa are expected to contribute to
the growth of the market, owing to growing demand for roofing membranes.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
““Global
Roofing Membranes Market By Product Type, By Installation Type, By End-User
Industry, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global roofing
membranes market and provides statistics and information on market structure,
size, share and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers to take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in global roofing membranes
market.
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