DUBLIN, Oct. 11, 2023 /PRNewswire/ — The “Roofing Membranes Market – Global Industry Size, Share, Trends, Opportunities and Forecast, 2018-2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Roofing Membranes Market, which achieved a size of USD 90.59 million in 2022, is expected to experience robust growth and reach USD 131.82 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 5.51% during the forecast period from 2024 to 2028.
This growth is primarily driven by the increasing demand for sustainable and energy-efficient roofing solutions in the Building & Construction Industry.
Furthermore, roofing membranes offer properties such as low cost, durability, high performance, superior strength, UV resistance, insulation, and energy efficiency, making them an ideal choice for buildings requiring a minimum service life of 15-20 years.
Key Market Drivers
1. Growing Focus on Sustainability and Energy Efficiency:
- The roofing membranes market is addressing sustainability demands by incorporating eco-friendly materials and manufacturing processes.
- Manufacturers are increasingly using recycled materials and bio-based polymers to reduce environmental impact and dependence on non-renewable resources.
- Sustainable manufacturing practices, such as reducing water and energy consumption, further support the industry’s focus on sustainability.
- Roofing membranes significantly contribute to a building’s energy efficiency by providing thermal insulation and weatherproofing, resulting in reduced energy consumption and greenhouse gas emissions.
- Energy-efficient roofing membranes can help buildings achieve certifications like LEED, BREEAM, or Green Star, promoting sustainable construction practices and increasing market demand for these products.
- Sustainable roofing membranes have a longer lifespan and increased durability compared to traditional materials, reducing the need for frequent roof replacements and minimizing waste generation.
- Cool roof technology, featuring highly reflective surfaces that redirect solar radiation away from the building, is an emerging trend contributing to sustainability efforts.
2. Stringent Building Regulations and Standards:
- Stringent building regulations necessitate the utilization of high-quality roofing membranes that meet precise performance criteria.
- Roofing membranes must adhere to rigorous fire safety regulations to safeguard structures and occupants from the hazards of fires.
- Compliance with fire safety standards is paramount for roofing membranes employed in high-rise constructions.
- Stringent building regulations often endorse or mandate green building practices, encompassing energy efficiency and sustainable construction materials.
- Roofing membranes play a pivotal role in energy-efficient building design by providing effective insulation and reducing energy consumption.
- The market for roofing membranes experiences heightened demand for products that contribute to green building certifications, such as LEED and BREEAM.
- Cool roofing membranes, with their high solar reflectance and thermal emissivity properties, play a crucial role in mitigating the urban heat island effect.
3. Urbanization and Infrastructure Development:
- Urbanization and the development of infrastructure drive the demand for roofing solutions, particularly roofing membranes.
- Roofing membranes offer superior protection against water infiltration, UV radiation, and harsh weather conditions, ensuring the longevity and durability of buildings in urban environments.
- The construction of high-rise buildings and complex structures with unique architectural designs is common in urban areas.
- Roofing membranes, with their versatility and adaptability, are the preferred choice for modern urban constructions.
- As urban areas undergo rapid development, the urban heat island effect becomes a significant concern, which cool roofing membranes help mitigate.
- Infrastructure development projects, including transportation systems, airports, and public facilities, require durable and reliable roofing solutions to protect these assets from weather-related damage.
Key Market Challenges
1. Price Volatility of Raw Materials:
- Roofing membranes are often manufactured using petroleum-based materials like bitumen and synthetic polymers, the prices of which are influenced by fluctuations in crude oil prices.
- Political events, international trade disputes, and the imposition of tariffs can disrupt the supply of raw materials used in roofing membranes.
- Currency exchange rate fluctuations can affect the cost of importing or exporting raw materials, leading to price fluctuations in the final roofing membrane products.
2. Installation Complexity:
- Roofing membranes necessitate specialized skills, proper techniques, and appropriate equipment for successful installation.
- The proper installation of roofing membranes requires a skilled workforce with specific expertise in handling these materials.
- Contractors must undergo training and certification to ensure they possess the knowledge and experience needed to execute the installation correctly.
- Roofing membranes often come in large rolls, which can be cumbersome and challenging to handle.
Key Market Trends
1. Technological Advancements and Rise of Single-Ply Roofing Membranes:
- Technological advancements and material innovations are driving progress in the roofing membranes market.
- Manufacturers are focusing on developing innovative roofing membranes with enhanced performance characteristics, including improved weather resistance, UV protection, and extended lifespans.
- Single-ply roofing membranes, especially TPO and PVC membranes, have emerged as preferred choices due to their ease of installation, flexibility, and energy-efficient properties.
Key Market Players
Leading players operating in the Global Roofing Membranes Market include GAF Materials Corporation, Atlas Roofing Corporation, TAMKO Building Products, Inc., CSR Ltd., Carlisle Companies Inc., Crown Building Products LLC, Metal Sales Manufacturing Corporation, Wienerberger AG, CertainTeed Corporation, and Fletcher Building Limited, among others.
Report Scope:
This report covers the Global Roofing Membranes Market and is segmented into the following categories:
- Product Type: Thermoplastic Polyolefin, Ethylene Propylene Diene Monomer, Bitumen, and Others.
- Installation Type: Mechanically Attached, Fully Adhered, Ballasted, and Others.
- Application: Residential, Commercial, Institutional, and Infrastructural.
- Region: North America, Europe, South America, Middle East & Africa, and Asia Pacific.
For more information about this report visit https://www.researchandmarkets.com/r/hnr789
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