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Rising infrastructure growth in developing economies like China, India, and Brazil in coming decades has made in propelling demand for bitumen membranes market.
NEW YORK, NY, UNITED STATES, August 3, 2022 /EINPresswire.com / -- The global bitumen membranes market is expected to reach USD 3.74 billion by year 2027, at a CAGR of 4.8%. according to a new report by Reports and Data. Bitumen membranes were designed to cover industrial and residential buildings. They're constructed of extremely viscous, elastic, and water-proof organic liquids. On nearly flat or level roofs, bitumen membranes are used as a roofing device to prevent any leaks and to move water off the roof. Bitumen membranes are used for extensive applications, including humidifying, water-proofing, binding, rust-proofing, joint filling, and crack forming. Road expansion and rebuilding of current infrastructure, including buildings and bridges, are several main places where the demand for commodities is projected to rise steadily. Rising demand from the building sector has driven product production. Increasing government requirements due to environmental legislation coupled with low-cost roofing systems are significant factors in roofing applications that drive demand for polymer-modified bitumen (PMB). Excellent longevity, flood resistance, and high-temperature tolerance have culminated in an enhanced need for PMB.
The market will dominate by the grade of Atactic Polypropylene (APP). APP is commonly used for the application of water-proofing on the terrace or house roofs, curtain walls, sloping concrete floors, foundations, etc. Ios has many superior features such as usability, excellent life expectancy, superior weather tolerance, strong dimensional durability, outstanding adhesive properties, high tolerance to puncturing & mechanical injury, excellent chemical resistance, etc. Growing usage of the Device grade would accelerate the growth of this segment in the construction industry.
With the integration of thermoplastic polymers with oxidized or straight-run bitumen and a mineral filler, modified bitumen membranes are prepared. A polyester mat or fiberglass is coated on the mixture. Water-proofing devices produced from these materials are constructed from polymer-modified bitumen sheets with a simple base layer. On construction sites, these sheets are laminated together.
Throughout Europe, polymer-modified roof membranes are placed on temperature-resistant insulating boards when compact roof systems are installed. Oxidized Bitumen membranes are filled with a fiberglass layer with a combination of calcareous mineral filler and oxidized bitumen. The combination collected as a final product is wrapped in sheets. Such products are manufactured from a stone granule matrix in North America and are called roll roofing. Bitumen membrane roofing provides differing advantages over raising flat gravel and asphalt roofing methods. For gravel and asphalt systems, good seals at both contact points and seams are tough to shape. It results in early roof leakage and entails a high cost of maintenance. Their procedure of repair and maintenance is also tricky since it is challenging to locate the exact leakage points. On the other side, the bitumen membranes roofing device considers these points harder to spot and efficiently rectify.
The COVID-19 impact:
As the COVID-19 epidemic is growing, producers are slowly changing their development, and purchasing strategies to meet pandemic demands generated the need for Bitumen Membranes dependent on the sector. In a few months, a sequence of negative and positive shocks may arise as distributors, and their manufacturers respond to growing consumer demand. Several nations, with an unfavorable global environment, look susceptible to export-dependent economies. Owing to the lack of competition on the downstream, the effect of this pandemic would reshape the global Bitumen Membranes industry; some factories either shut down or decrease their capacity. However, many governments stopped their production as a precautionary measure to deter the spread of the virus. In other nations, by looking at the severity of the crisis and the consequent behavior of the state officials themselves, customers are centered on becoming more important. Company dynamics around Asia Pacific countries have become chaotic in all of these situations, collapsing frequently and finding it impossible to stabilize.
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Key participants include Jiangsu Changzhou Xinyuan Waterproof Equipment Factory, Soprema International, Firestone Building Products Company LLC, Isoltema Group, Indian Oil Corporation, BASF SE, Johns Manville, BMI Group, Tiki Tar, and IKO Group, among others.
Further key findings from the report suggest
•Based on the grade, Styrene-Butadiene-Styrene generated a revenue of USD 0.81 billion in 2019 and believed to rise with a CAGR of 4.9% in the forecast period as it improves bitumen's resistance to chemicals and aging and gives it rubber-like properties coupled with the rising demand for roll roofing.
•It is expected that the increasing need to provide cost-effective solutions for roofing applications will influence the growth of the bitumen industry over the forecast period. Increasing worldwide demand for water-proofing solutions is projected to propel growth. It is anticipated that the intervention of various government policies such as FDI will drive the construction industry. The rising practice of utilizing paving strategies like micro-surfacing on high traffic roads leads to demand for PMB.
•The non-residential application is the major contributor to the Bitumen Membranes Market. The non-residential sectors of Europe region are the major shareholder of the market and held around 52.2% of the market in the year 2019, due to the substantial commodity demand for numerous construction ventures such as malls, office buildings, educational establishments, hospitals, etc. to provide the water-proofing needed for walls, terraces, etc.
•Europe dominated the market for Bitumen Membranes in 2019, due to the existence of large buildings and automobile sectors broadly used in the construction sector. Europe region held approximately 34.9% of the market, followed by the Asia Pacific, which contains around 27.7% market in the year 2019.
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For the purpose of this report, Reports and Data have segmented into the global Bitumen Membranes market on the basis of grade, product, application, and region:
Grades Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
•Atactic Polypropylene (APP)
Product Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
The regional analysis covers:
•North America (U.S., Canada)
•Europe (U.K., Italy, Germany, France, Rest of EU)
•Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
•Latin America (Chile, Brazil, Argentina, Rest of Latin America)
•Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers a comprehensive overview of the competitive landscape of the market to provide an advantage to the reader. This segment focuses on the initiatives and innovations adopted by the key players to gain a strong foothold in the market. The report also sheds light on mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements, among others, to offer a better understanding of the market. The report also offers insights into revenue, gross profit margin, financial standing, market position, product portfolio, and other vital aspects of each player. The report also includes a thorough SWOT analysis and Porter's Five Forces analysis.
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