Published Tue, Oct 16th 2018
Orbis Research adds “Global Roofing Membranes Market” Research Report with Economic Impact, Future Scope & Scenario to Its Database.
The roofing membranes market is expected to register significant growth during the forecast period, (2018-2023). The roofing membrane is a seal that is covered around the roof of buildings and tanks generally laid in large sheets. The market is driven by increasing demand for lighter and faster construction roofing materials in European region and increasing private construction expenditure in the North American region. However, the fluctuating prices of raw materials are expected to restrain the market’s growth. The North American region accounted the highest share of the global roofing membranes market in 2017.
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Increasing Private Construction Expenditure in the North America Region:
In the United States, the residential and non-residential construction has increased significantly by 2017. The residential construction in 2016 and 2017 has increased year-on-year by 10.52% and 10.58% respectively. The major growth in the non-residential construction was witnessed in healthcare, commercial and office buildings. In Canada, the investments in the private sector witnessed a moderate growth in 2017. New housing constructions registered a 0.2% growth in 2017 over 2016. The private construction expenditure in the country is increasing with the ongoing and upcoming private construction projects such as Megamall project in the Town on Mount Royal valued at USD 1,700 million is now under construction, and CIBC Square Office Building project at Toronto valued at USD 350 million is now taking shape. All the above-mentioned factors increase the private construction in the North America region, in turn, expected to drive the market for roofing membranes during the forecast period.
Surge in Ethylene Propylene Diene Monomer (EPDM) Usage
Ethylene Propylene Diene Monomer (EPDM) is an exceptionally durable synthetic rubber roofing membrane widely used in the low-slope building applications. It can be installed either fully adhered, mechanically attached or ballasted, with the seams of the roofing system sealed with liquid adhesives or specially formulated tape. Some of the advantages of these roofing membrane types are easy maintenance, exceptional waterproof and UV resilience, choice of installation methods, etc. Owing to all these advantages, these membranes are most commonly used in the roofing of houses in the North America region. With the increasing construction of houses in the countries such as the United States, Canada, and Mexico, the demand for membranes is increasing significantly. The demand for new homes in the United States has been increasing consistently since the past few years owing to the growing population and rising consumer incomes in the country. The sales of new houses in the country is increasing significantly over the past seven years. In 2017, the sales reached 614,000 and witnessed a growth of 9.44% over 2016. With the increasing construction industry activities and growing population in the Asia-Pacific region, the number of houses are increasing. Due to the aforementioned factors, the demand for roofing membranes is expected to increase significantly during the forecast period.
North America to Dominate the Roofing Membranes Market
In 2017, the North American region dominated the global market share. With the growing construction industry and usage of lightweight and faster construction techniques in the countries such as the United States, Canada, and Mexico, the demand for the roofing membranes is increasing significantly in the region. Construction spending in the country fluctuated in the last year. However, it is increasing gradually this year compared to the previous year with the increasing number of new homes and public buildings. The total engineering and construction spending for the US witnessed a growth of 4% in 2017 and are likely to grow at 6% in 2018. The US construction spending is increased by 1.8% in April 2018. The overall gain pushed construction spending to USD 1.31 trillion at a seasonally adjusted annual rate at 7.6 percent above the level a year ago. Despite the slight increase in the warehouse construction, the booming e-commerce sector would slow down the growth of store construction activities in the United States which in turn would impact the commercial construction. All the above-mentioned factors, in turn, is expected to boost the demand for roofing membranes in the North American region during the forecast period.
Key Developments in the Roofing Membranes Market
February, 2018: Sika AG acquired majority stake in the Index Construction Systems and Products, a leading manufacturer of roofing and waterproofing systems which is headquartered close to Verona, Italy.
Roofing Membranes Market Major Players:
Carlisle SynTec Systems
Firestone Building Products Company, LLC
Godfrey Roofing Inc.
Revenue forecast, market share analysis, and market dynamics
Reasons to Purchase Roofing Membranes Market Report:
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The product type and end-use that are expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market share, and strategies employed by the major market players.
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Carlisle SynTec Systems
-Firestone Building Products Company, LLC
-Godfrey Roofing Inc.
-Versico Roofing Systems
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