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Bitumen membranes market to gain massively from construction industry

Author : Ravi Chawat | Published Date : 2020-09-08 

Expanding real estate sector coupled with government initiatives to build and develop infrastructure across emerging economies is likely to drive global bitumen membranes market. In the construction sector bitumen membranes are widely utilized due to unique product properties, including waterproofing and rust proofing. They also provide protection to concrete structures against moisture and extreme weather conditions, hence increasing durability of the infrastructure.

Initiation of smart city projects in line with the infrastructural development programs across various regions will also boost industry growth. For instance, programs initiated by Indian government, such as AMRUT (Atal Mission for Rejuvenation and Urban Transformation) and smart city projects in major cities of the country are aimed at improving the rural and urban infrastructure along with the living standards of the regional population.

Moreover, upcoming construction projects in China and UAE will also propel bitumen membranes industry demand In terms of revenue,  bitumen membranes market is forecast to cross the USD 3.5 billion mark by 2025.

Rapidly growing automotive industry is another growth enabling factor for bitumen membranes market. Bitumen membranes are utilized in coating applications of automotive components. Surge in vehicle production in the developing regions due to increasing demand for personal vehicles may further boost product proliferation.

In terms of grades, bitumen membranes can be classified as APP (abbreviated as atactic polypropylene) and SBS (abbreviated as styrene butadiene styrene). SBS grade segment is likely to showcase an impressive growth rate of above 5.5% over the analysis period. Superior product features, such as dimensional stability, better elongation properties and excellent strength has resulted in inflated demand from the construction industry.

Bitumen membranes market size is poised to gain enormous momentum over the forecasted timeline due to surging demand from the construction sector. Enhanced living standards and rise in per capita income across the world will thrive the demand for residential and commercial structures. Development in construction activities globally is a major driver for increasing bitumen membranes deployment across the globe.

Reports estimate that in terms of construction, U.S. is one of the largest investors and spent around USD 1.3 trillion in 2018, which witnessed momentous 6.5% annual growth from 2014 to 2018. In addition, both non-residential and residential construction sectors in the region have experienced annual growth rate of nearly 4.5% and 10% respectively.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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