Shift in consumer inclination towards use of durable & reliable material in construction of building structures along with increasing usage scope in wet area applications should favor Asia Pacific waterproofing membrane market size.
Sellbyville, DE -- (SBWIRE) -- 02/15/2019 -- Asia Pacific waterproofing membrane market size may surpass 800 million square meters at the end of 2024. Population growth along with rising economic development has led rise in remodeling and renovation activities, which should boost construction spending in the region. Economic growth in India, China, and Southeast Asian countries have raised up demand for better infrastructure which is likely to boost product demand.
Asia Pacific Waterproofing Membrane Market size is set to surpass USD 3 billion by 2024; according to a new research report by Global Market Insights, Inc. Shift in consumer inclination towards use of durable & reliable material in construction of building structures along with increasing usage scope in wet area applications should favor Asia Pacific waterproofing membrane market size. Asia Pacific is witnessing swift growth in infrastructure development and rise in per-capita disposable income levels which should drive product demand.
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Asia Pacific waterproofing membranes market size from roofing applications expects sizable gains at over 9%. These systems are majorly used in roofing application owing to key properties which include texture, UV resistance, flexibility and durability. Liquid applied membranes are used for small roofing applications owing to application ease whereas sheet membranes are used for covering large areas owing to the ability to effectively cover cracks & gaps.
Key feedstocks in manufacturing process includes polypropylene and bitumen. These feedstocks are derived from petrochemicals and any change in crude oil index may affect waterproofing membranes market price trend.
- APAC Waterproofing Membrane Market, By Product
- Bitumen Solvent
- Bitumen Waterbased
- Polymer Modified Cement
- Rapid Cure System
- 1k PU Solvent
- 2K PU Solvent
- PU Blend Acrylic
- APAC Waterproofing Membrane Market, By End-Use
- Deck and Terrace
- Car Park Deck
- Garden roof
- Landfill & Tunnel
- Wet area
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China bituminous sheet waterproofing membranes market size expects sizable gains to surpass USD 250 million by 2024. Increasing application scope in deck & terrace and roof should boost bitumen sheet demand. Bitumen sheets relatively have low cost in comparison to other preformed membranes along with good adhesion & abrasion resistance properties which provide longer shelf life to building structures. China plans to construct over 56 new airports and renovating another 16 would create a surge of product demand
India polyacrylic waterproofing membrane market size should expect gains at over 12%. These products are easy to install & handle which provides ease to applicators. These systems are majorly used in applications which include roof and wet area. Increase in environmental concerns owing to rise in VoC emissions has contributed towards polyacrylic based product demand.
Asia Pacific waterproofing membranes market size from wall applications are likely to witness significant gains at over 8.5%. Majorly used products used for wall applications include polymer modified cement, polyacrylic and polyurethanes. These products provide uniform coating along with ease in applications and are majorly used to prevent cracks & porosity which can prevent leakage.
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Asia Pacific waterproofing membrane market share is highly competitive and fragment with presence of major players including BASF SE, Dow Chemical, Covestro, Pidilite Industries and Sika AG. Industry may witness consolidation as companies may engage in mergers and acquisitions to strengthen regional presence and enhance product portfolio.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.