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(IT-NEWSWIRE.COM, March 26, 2020 ) Market Overview
• The Global Roofing Membranes Market is expected to grow at a CAGR of 9.84% during the forecasting period (2019-2026).
• Roofing Membrane is a roofing system for buildings and tanks. It is used to create a watertight roof covering to protect the interior of a building. Membrane roofs are most commonly made from synthetic rubber, thermoplastic (PVC or similar material), or modified bitumen. Membrane roofs are most commonly used in a commercial application, though they are becoming increasingly common in residential application.
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Market Dynamics
• Rising interest in faster and lighter construction roofing materials worldwide is the major driving factor for the market growth. Commercial flat roofs can be significantly more cost-effective to build than pitched roofs or steep slope roofs because they require less material due to the fewer square feet to be covered. They are easier and quicker to install, which can translate to significant savings for the building owner. Adding to this, Maintenance and drain cleaning are easier on flat roofs since workmen can walk easily and safely, regardless of weather conditions.
• There are many types of flat roofing materials and membranes to choose from rubber rolled roofing, EPDM, PVC, TPO, bitumen, modified bitumen and built-up roofing. By far one of the largest advantages of PVC roofing materials would be its durability, longevity, and fire-retardant properties. Instead of huge areas of membrane melting away during a rooftop fire like with other membrane materials, PVC works to help self-extinguish the flames. Furthermore, Modified bitumen has longer warranty times due to the additional thickness and superior sealing capabilities.
• However, Fluctuations in the raw material prices are the key restraint hindering the growth of the market.
Market Segmentationation Analysis
• By installation type, the market is classified into fully adhered, ballasted, hot air welding and mechanically attached. The global roofing membranes market size by the ballasted segment was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• By application, the market is divided into commercial and residential. The global roofing membranes market size by commercial segment was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
• By product type, the market segmented into ethylene propylene diene monomer (EPDM), liquid applied membrane, modified bitumen (Mod-Bit), thermoplastic polyolefin (TPO), polyvinyl chloride (PVC) and synthetic rubber (Thermoset). The global roofing membranes market size by synthetic rubber segment was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Synthetic rubber type of membrane roof is made of large, flat pieces of synthetic rubber or similar materials. These pieces are bonded together at the seams to form one continuous membrane. The finished roof’s thickness is usually between 30 and 60 mils (thousandths of an inch) (0.75 mm to 1.50 mm).
• The most commonly used thermoset membrane is EPDM. Other types of related materials are CSPE, CR, and ECR. Thermosets are widely used roofing materials due to their ability to withstand damaging effects of sun-rays and chemicals found on roofs. Companies are launching products related to synthetic rubber (thermoset). For instance, Firestone Building Products has launched high-quality synthetic rubber compound products for roofing named RubberGard™. It is the industry’s premium-grade EPDM roofing membrane. With durability, flexibility and UV resistance built-in, RubberGard™ EPDM is a versatile roofing solution.
Geographical Analysis
• The Asia Pacific roofing membranes market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The Asia Pacific is expected to grab the major market share in the forecast period. The growing demand for cost-effective roofing membranes is likely to provide opportunities for the Asia Pacific region. Residential construction in Asia Pacific economies like India and China have seen decent growth. China Building Materials Academy Suzhou Waterproof Research Institute (SZWRI), a leading waterproofing materials research center in China, now includes BASF’s Chimassorb® light stabilizer in its standard package of thermoplastic polyolefin (TPO) compounds for roofing membranes.
Competitive Landscape
• The Roofing Membranes market is competitive with existing players in the market.
• Some of the major players include Sika AG, Godfrey Roofing Inc., Henry Company, Firestone Building Products Company LLC, Owens Corning, pH plastics, IKO Polymeric, Carlisle SynTec Systems, Siplast, and Duro-Last Inc.
• In December 2018, BASF’s Chimassorb® light stabilizer is adopted by the leading Chinese building materials research institute. It is a standard package of thermoplastic polyolefin (TPO) compounds for roofing membranes.
• Firestone Building Products has launched high-quality synthetic rubber compound products for roofing named RubberGard™. It is the industry’s premium-grade EPDM roofing membrane.
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