Asia Pacific could be the fastest growing region for global waterproofing membrane market: Lucintel

The waterproofing membrane market seems to flourish with opportunities in the residential and non-residential construction industries. An extensive market research report of Lucintel forecasts the business growth opportunities for global waterproofing membrane market. According to Lucintel research, global waterproofing membrane market is expected to reach an estimated $24.2 billion by 2021 and is forecast to grow at a CAGR of 4.3% from 2016 to 2021 expecting the major growth drivers of this market as, increasing construction activities and cost-effectiveness of waterproofing membranes.
Materials used to make the waterproofing membrane are, bitumen, polyvinyl chloride (PVC), thermoplastic polyolefin (TPO), polyurethane, and ethylene propylene diene monomer (EPDM) Lucintel forecasts that bitumen will remain the largest segment due to ease of availability and lower cost, simultaneously, demand for TPO based waterproofing membrane is likely to experience the highest growth in the forecast period due to its attractive properties of being eco-friendly and easy to install; TPO is also lightweight and offers superior heat resistance.
Largest application of waterproofing membrane market will continue to be roofing and wall; it is also expected to witness the highest growth over the forecast period from 2016 to 2021. Over the forecast period, growth in the roofing and wall applications will likely be driven by increased demand for single-ply roofing, growing energy efficient roofing solutions, and the increasing retrofit market in Europe and North America.
Asia-Pacific is expected to remain the largest market and is also expected to witness the highest growth over the forecast period because of growth in building and construction sectors and the increasing awareness of maintaining buildings for a longer lifespan. For business expansion, the report suggests innovation and new product development ease of use, to offer low maintenance, and to be substrate compatible.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of breathable waterproofing membrane and growing use of eco-friendly materials. Sika AG, BASF, Saint-Gobain, Soprema Group, and Firestone Building Products are among the major suppliers of waterproofing membrane

Read more about this report at

http://www.lucintel.com/waterproofing_membrane_market_2016_2021.aspx

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http://www.lucintel.com/waterproofing_membrane_market_2016_2021.aspx

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