The elastomeric membrane market, valued at USD 45.9 billion in 2023, is expected to grow to USD 98 billion by 2034, with a CAGR of 7.1% from 2024 to 2034. By 2024, the market is projected to reach a valuation of USD 49.6 billion.
The increasing demand for waterproofing solutions in global building projects is a key driver of the elastomeric membrane market. These membranes provide effective waterproofing, preventing water damage and extending the lifespan of roofs, foundations, and other structures. This demand is particularly strong in regions prone to frequent flooding and heavy rainfall.
Furthermore, the rise in green construction techniques presents significant opportunities for the elastomeric membrane market. Due to their energy-efficient and environmentally-friendly properties, elastomeric membranes are well-suited to meet the requirements for green building certifications such as LEED. This creates substantial opportunities for manufacturers to target construction projects that emphasize environmental sustainability.
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Key Takeaways from the Market Analysis
- The global demand for elastomeric membrane services reached US$ 33 billion in 2019.
- It is expected that the sheet elastomeric membrane would attain a 7% CAGR through 2034.
- It is projected that elastomeric membrane will be highly used for roofs and walls and gain a 52.1% market share in 2024.
- The market in the United States is anticipated to rise through 2034 at a 7.1% CAGR.
- It is projected that the elastomeric membrane ecosystem in the United Kingdom will evolve at an 8% CAGR between 2024 and 2034.
“The elastomeric membrane market is expanding due to a growing focus on sustainable building methods, such as the use of environmentally and energy-efficient materials. These membranes support sustainable construction practices and provide longevity and weather resistance,” – says FMI analyst.
Competitive Landscape
Leading companies in the global elastomeric membrane market are continually pursuing research and development to bring innovative materials and production methods to market. In order to fulfill changing consumer needs and strict regulatory requirements, they concentrate on improving product performance, durability, and sustainability.
Strategic alliances and joint ventures are also sought for in order to broaden market penetration and seize new possibilities. In addition, marketing and distribution channel expenditures are made to bolster brand recognition and successfully enter a variety of end-user markets, including healthcare, automotive, and construction.
Startups in the global market are emphasizing disruptive ideas, agility, and customer-centric methods. To stand out from the competition and obtain a competitive advantage over well-established competitors across a range of sectors, they seek to deliver innovative solutions, take advantage of developing technology, and target specialized market segments.
The key players in this market include:
- BASF SE
- Carlisle Companies Inc.
- Copernit S.P.A.
- Firestone Building Products Company
- GCP Applied Technologies Inc.
- Johns Manville
- Kemper System
- Paul Bauder GmbH & Co. Kg
- Soprema Group
- Standard Industries Inc.
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Key Developments
- In 2023, BASF and Oriental Yuhong, China’s largest producer of Thermoplastic Polyolefin (TPO) roofing membranes, are collaborating to create solar roofing membranes for buildings. The goal of the latest project is to supply rooftop solar panels, a need that is expanding quickly in China.
- The performance of TPO roofing membranes in terms of waterproofing has become crucial as the nation’s solar PV installations have reached a record high of 51 gigawatts, with roofs accounting for more than one-third of the installed capacity in 2022.
Key Segments Profiled in the Elastomeric Membrane Market
By Type:
- Sheet
- Liquid Applied
By Application:
- Roofs & Walls
- Underground Construction
- Wet Areas
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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