Global Elastomeric Membrane Market Size Set to Cross USD 52 Billion by 2028

Published | 01 January 2023

Global elastomeric membrane market is growing due to increased infrastructure activities, strict environmental norms and regulations, and spurring demand for elastomeric membranes in residential and non-residential construction projects.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects global elastomeric membrane market size at USD 33.9 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects the size of global elastomeric membrane materials market to grow at a CAGR of 6.4% reaching a value of USD 52.2 billion by 2028. The global elastomeric membrane market is being driven by the expanding infrastructure sector as well as stricter environmental standards and laws governing the use of elastomeric membranes. Most manufacturers are now required to follow rigid standards and usage guidelines for waterproofing materials due to government regulations in many areas. The elastomeric membrane market is anticipated to grow as a result of significant spending in emerging economies such as India and Indonesia, that are involved in commercial construction. However, during the forecast period, the elastomeric membrane market may experience some growth restraints due to raw material price volatility and an increase in health problems.

Global Elastomeric Membrane Market – Overview

Elastomeric membranes are waterproof, extremely strong, and resistant to high temperatures. Elastomeric membranes have a lifespan of 25–30 years. Environmental concerns and increased infrastructure are expected to drive market growth. The elastomeric membrane market is expanding because of investments in the commercial construction industry by countries such as China and Indonesia. Growing urbanization, commercialization, and investments in advanced infrastructure by developing countries will provide excellent growth prospects for the elastomeric membrane market.

The risk of a life-threatening fire increases when conditions and environments are concentrated. This has increased the demand for integrated and effective passive fire protection not only in buildings but also in other industries to reduce risk and protect human life, property, and the environment. Modern building frameworks are interspersed with numerous utility and network services, such as cables, pipes, and ventilation ducts, in both horizontal and vertical directions, resulting in numerous penetrations through most of the walls and floors. These passive fire-protectant materials are also needed by the oil and gas, petrochemical, and power generation sectors in addition to the construction sector. Workers in the petrochemical and oil and gas industries are at significant risk from unintentional fire outbreaks.

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Opportunity: Increased use of elastomeric membranes in construction applications

The Asia-Pacific construction market is expected to grow at a CAGR of more than 4% in the coming years. The elastomeric membrane's widespread use in commercial malls, structures, rooftops, wet areas, and other applications ensures consistent demand in the Asia-Pacific region. The growing number of planned cities in Asia will also drive up demand for elastomeric membranes. The UN predicts that by 2026, nearly half of all Asians will live in cities.

Challenge: Volatility in raw material prices

Volatility in elastomeric membrane prices is the main factor preventing the elastomeric membrane market from expanding at a faster rate. Market demand for elastomeric membranes may be constrained by unstable raw material prices. Additionally, during the forecast period of 2022–2029, the availability of alternatives because of R&D activities is anticipated to restrain market value.

Impact of COVID-19 on Global Elastomeric Membrane Market

The COVID-19 outbreak reduced the demand for elastomeric membranes in many applications. Many governments all over the world imposed lockdowns as a safety measure against the coronavirus spreading. Consequently, manufacturing operations slowed down, as infrastructure development and supply and transportation constraints. As a result, there was a less demand for elastomeric membranes. Demand for and production of elastomeric membranes are directly affected by the COVID-19 outbreak. The industrial shutdown brought on by the COVID-19 pandemic disrupted the supply chain. A disruption in the raw material supply affected market participants' full-scale operations.

Global Elastomeric Membrane Market – By End User

Global elastomeric membrane market is segmented based on application into Roofs and Walls, Wet Areas, Underground Construction, and other segments. The segment for roofs and walls is expected to hold the highest market share during the forecast period. As a result of increased investment in non-residential developments, such as industrial, educational, and apartment buildings, the elastomeric membrane market for rooftops is forecast to expand. Any roof can benefit from elastomeric coatings, as they provide a seamless layer. It also protects from exposure to salty air and UV rays.

Competitive Landscape

Global elastomeric membrane market is fiercely competitive. Prominent players in global elastomeric membranes market include Soprema Inc, BASF SE, Saint-Gobain S.A., KEMPER SYSTEM, Johns Manville, Sika AG, Carlisle Companies Inc, GCP Applied Technologies Inc, Firestone Building Products, KARNAK, Copernit S.P.A, Forsoc, Renolit, Noble Company, and Convestro Ag. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in global elastomeric membrane market.

Don’t miss the business opportunity in the Global Elastomeric Membrane Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Elastomeric Membrane Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Elastomeric Membrane Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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