The Elastomeric Membrane Market is being driven by Increasing consumption of thermoplastic elastomer coatings in automotive industry
The Elastomeric Membrane Market is expected to grow at a CAGR of 6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 13.5 million. The global elastomeric membrane market is poised for substantial growth, driven by the expanding construction industry and the resulting demand for high-performance materials. Urbanization and infrastructure development, particularly in emerging economies, are key factors fueling this trend. Elastomeric membranes, recognized for their durability, waterproofing properties, and flexibility, are increasingly being utilized in both residential and commercial construction projects. Notably, significant investments in infrastructure development in countries like China and India, driven by substantial government spending on roads, bridges, and commercial buildings, are expected to further boost market expansion.
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The market is segmented based on segments_for_ai.nslist
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
Market growth 2024-2028 |
USD 13.5 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.7 |
Key countries |
US, China, Germany, Japan, India, Canada, South Korea, UK, France, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The Elastomeric Membrane Market encompasses waterproofing membranes made from thermoplastic elastomeric polymers and modified bitumen compounds. These membranes, which include self-adhesive types, utilize nonwoven polyester carriers and glass fibers. In engineering and construction, elastomeric membranes offer durable roofing solutions for energy-efficient buildings and sustainable construction. They provide protection against water damage, moisture intrusion, UV radiation, and extreme weather events. Advanced techniques incorporate innovative elastomeric membranes with self-healing properties, integrated solar panels, and smart technologies. Applications span waterproofing foundations, walls, and roofs, as well as green roofing systems.
The elastomeric membranes segment within the specialty chemicals market encompasses waterproofing membranes produced using thermoplastic elastomeric polymers, modified bitumen compounds, nonwoven polyester carriers, and glass fibers. Manufacturers of these high-value-added chemicals cater to the engineering and construction industries, producing specialized products such as self-adhesive membranes. The global specialty chemicals market, which includes these manufacturers, is projected to expand significantly due to the increasing demand for advanced adhesives and sealants in various industries. This trend, coupled with the growing infrastructure development and construction activities worldwide, will propel the market's growth throughout the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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