Elastomeric Membrane Market - Forecast(2024 - 2030)

Elastomeric Membrane Market Overview

Elastomeric Membrane market size is forecast to reach US$42.1 billion by 2026, after growing at a CAGR of 6.9% during 2021-2026. The elastomeric membrane is a waterproof roofing material used in the construction industry. The membrane can withstand high temperatures and ensure the excellent durability of the roofing material. They are generally used in commercial roofing and also used in extreme climatic conditions to control temperatures. The growing adoption of advanced roofing solutions in residential and non-residential constructions is driving the market growth for elastomeric membranes. According to the U.S. Census Bureau, Construction spending during July 2021 was estimated at a seasonally adjusted annual rate of US$1,568.8 billion, which is above the revised June estimate of US$1,563.4 billion. Elastomeric paint is a coating specially used to protect masonry surfaces. However, fluctuation in raw material prices is likely to hamper the market growth during the forecast period 2021-2026.

COVID-19 Impact

The COVID-19 pandemic is impacting different industries; one of the few industries that were primarily hit to some extent was the construction industry. The demand for the elastomeric membrane is low during the covid-19 crises. The delay in construction activities in both developed and developing nations impacted the market growth for elastomeric membrane during covid-19. However, the construction industry faced problems related to the supply chain, lack of workforce, and lack of raw materials supply.

Elastomeric Membrane Market Report Coverage

The report: “Elastomeric Membrane Market – Forecast (2021-2026)” by IndustryARC, covers an in-depth analysis of the following segments of the Elastomeric Membrane industry.

By Material: Elastomeric Sheet Membrane (Modified Bituminous Membrane [Styrene-Butadiene-Styrene, Atactic Polypropylene], EPDM [Black EPDM, White EPDM], TPO, PVC, Others), Elastomeric Liquid Applied Membrane (Acrylic Liquid Applied Membrane [Acrylic, Polyurethane], Others [Polyurea, Pmma, Others])
By Application: Roofs & Walls (Roofs [Sloped Roofs, Flat Roofs], Walls [Exterior Walls, Interior], Wet Areas (Internal Wet Room Areas, Artificial Water Bodies), Underground Construction, Others
By Construction Type: Residential Construction (Independent Homes, Row Homes, Large Apartment Buildings), Commercial Constructions (Hospitals and Healthcare Infrastructure, Educational Institutes, Hotels and Restaurants, Banks and Financial Institutions, Airports, Hyper and Super Market, Shopping Malls, Others), Industrial Constructions (Manufacturing units, Ware Houses, Others)
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia and New Zeeland, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (the Middle East and Africa)

Key Takeaways

• The Asia Pacific is expected to register the highest CAGR of 6.6% during the forecast period (2021-2026).  Rapid urbanization, emerging economies, and increasing construction activities are the major factors driving the market growth. 
• The commercial construction segment is expected to hold a major market share between the forecast period 2020-2026. 
• The increasing market for infrastructure and the increasing growing importance of green roofing are the key factors driving the elastomeric membrane market.

Figure: Asia Pacific Elastomeric Membrane Market Revenue, 2020-2026 (US$ Billion)

Elastomeric Membrane Market Segment Analysis - By Material

The sheet membrane segments accounted for approximately 65% of the market share in 2020 and are estimated to grow at a significant CAGR during the forecast period. Sheet membrane systems are reliable and durable thermoplastic waterproofing solutions widely used in the construction industry. Sheet membrane types offer superior performance properties compared to other membrane types. The increasing demand for flat roofs in non-residential buildings is one of the major factors driving the market for the sheet membrane segment. The growing demand for green roofing in green buildings is supporting the market growth during the forecast period. The growing pollution content in the environment is shifting to green buildings. According to the International Energy Agency, by the year 2030, three-quarters of our energy sources will remain CO2. The liquid applied membrane segment is expected to grow at a significant CAGR during the forecast period. These membranes are easily installed and available at a low price compared to sheet membranes.

Elastomeric Membrane Market Segment Analysis – By Application

The roof and wall segment accounted for more than 75% of the market share in 2020 and is estimated to grow significantly during the forecast period. The growing renovation activities in emerging economies such as India, China, South Korea, and Indonesia among others are supporting the market for the roof and wall segment. High expenditure on non-residential projects such as commercial, institutional, and office buildings also triggering the market growth during the forecast period. Elastomeric roofs are attractive roofing options for many reasons such as more cost-effective, fast installation, and waterproofing, among others. The elastomeric membrane is applied over different roofing substrates, including asphalt, bitumen, and concrete among others.

Elastomeric Membrane Market Segment Analysis – By Construction Type

The commercial construction segment accounted for more than 55% of the market share in 2020 and is estimated to grow significantly during the forecast period. Increasing construction of commercial buildings such as institutional buildings, shopping malls, showrooms, corporate offices, and industrial buildings in both developed and developing nations are driving the market growth for the commercial construction segment. Growing foreign investments in the construction industry are also supporting market growth. According to the data published by FDI India, Indian real estate attracted approximately US$5 billion in institutional investments in 2020, and they also mentioned the Institutional real estate investments in India increased by 21% in the first quarter (2021) to US$922 million.

Elastomeric Membrane Market Segment Analysis - By Geography

Asia Pacific region held the largest share in the Elastomeric Membrane market in 2020, up to 35%, owing to the rapid growth in construction in the region. The presence of developing nations such as India and China is driving the market growth in the region. The rapid growth in population, growing number of working individuals, and growth in income levels are some of the major factors driving the regional market. Abundant raw material sources and availability of workforce also supporting the regional demand. According to the 2021 World Investment Report published by UNCTAD, FDI inflows into China increased by 6% in 2020, to USD 149 billion, up from USD 141 billion in 2019. According to FDI India, approximately US$26.08 billion FDI equity Inflows in Construction Development during April 2000 – March 2021.

Elastomeric Membrane Market Drivers:

Growing demand from construction Industry

Elastomeric membrane improves the building's energy. The elastomeric membrane is made up of thermoplastics, thermosets, or modified bitumen, and they are extensively used in roofing systems. According to the Associated General Contractors (AGC), the Construction industry is a significant contributor to the U.S. economy, and the U.S. Construction has more than 7 million employees and creates nearly $1.4 trillion worth of structures each year. The UAE construction sector recorded growth of 3.3 percent in 2019, and it is expected to register 4.3% by 2021. The National Development and Reform Commission of China planned to build infrastructure projects in China and approved a total investment of CNY 485 billion (~USD 72 billion) in January 2019 for the construction of seven projects. India has a total of US$1.4 trillion infrastructure investment budget under the National Infrastructure Pipeline (NIP).

Elastomeric Membrane Market Challenges:

The raw materials required for electrometric membrane include thermoplastics, thermosets, and modified bitumen, among others. Depending on raw material suppliers and outsourcing raw materials from other countries is one of the major challenges facing by electrometric membrane market.  Fluctuation in foreign currency rates and changing government rules and regulations on imports & exports across the globe is also likely to hamper the market growth during the forecast period. The price of thermoplastics is high compared to thermoset material, and they offer superior properties and can tolerate high temperatures. According to Osborne Industries, thermoplastic pricing differences can range from just under a dollar to upwards of US$10 a pound. Some thermoplastics are more expensive than thermoset plastic.

Elastomeric Membrane Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Elastomeric Membrane market. Major players in the Elastomeric Membrane market include:

1. BASF
2. Sika Carlisle Companies Inc
3. SOPREMA
4. Kemper System
5. Saint-Gobain
6. Firestone Building Products Company
7. Johns Manville
8. GCP Applied Technologies Inc.
9. Standard Industries Inc
10. Carlisle Companies Inc.
11. Other Companies

Acquisitions/Technology Launches

In January 2020, BASF launched an innovative waterproofing membrane, MasterSeal 730 UVS in Asia, under its Master Builders Solutions brand. MasterSeal 730 UVS is a pre-applied, high-density polyethylene (HDPE) sheet waterproofing membrane treated with unique pressure-sensitive adhesive and protective coating to enable good adhesion with concrete surfaces without requiring additional protective screed.

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