The market for single-ply membranes is expected to grow at a CAGR of over 9 % during the forecast period. Major factors driving the market studied are increasing demand for lighter and faster construction roofing materials in Europe region, increasing private construction expenditure in the North America region, and increasing investments in the construction sector in emerging economies of Asia-pacific.
- Fluctuating prices of raw materials are expected to hinder the growth of the market studied.
- Growing usage in the Asia-pacific region is likely to act as an opportunity in the future.
- North America is the largest market for single-ply membranes, with the largest consumption from countries such as US and Canada.
Key Market Trends
Thermoplastic Polyolefin (TPO) to dominate the market
- Thermoplastic Polyolefin (TPO) is a polypropylene-based plastic and ethylene/propylene rubber material. By blending the plastic and rubber, TPO is manufactured.
- It has various advantages, such as heat weldability, easy to repair, flexibility, and white color (due to which almost 90% of the sun rays are reflected). It has become popular because of its ability to resist the ultraviolet (UV) rays from the sun, ozone, and environmental chemicals. These can be easily installed on both low and high slope surfaces.
- Owing to all these advantages, these membranes are most commonly used in the roofing of houses in the North American region. With the increasing construction of houses in the countries, such as the United States, Canada, and Mexico, the demand for these 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.
North America to Dominate the Market
- North America region dominated the global market with accounting the highest share. With the growing construction industry and usage of lightweight and faster construction techniques in countries such as the United States, Canada, and Mexico, the demand for these roofing membranes is increasing in the region.
- The construction is increasing gradually year by year with the increasing number of new homes and public buildings.
- The United States represents the world's largest economy in the world. The residential and non-residential sectors witnessed growth due to the increase in private construction spending over the years.
- With the increase in demand from the residential and non-residential construction industry, the demand for single-ply membranes is expected to increase rapidly, during the forecast period.
The global single-ply membranes market is fragmented. The major companies include Dow, Duro-Last Inc., BMI Group(Icopal), GAF, and Firestone Building Products Company LLC., among others.
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