Global Bitumen Membranes Market To Tower Significantly With A CAGR Of Around 5.89%

As per experts at Zion Market Research, global Bitumen Membranes Market, estimating its value at USD 2.70 Billion in 2023, with projections indicating that it will reach USD 4.52 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 5.89% over the forecast period 2024-2032. Bitumen membranes are broadly employed in construction & building activities as they offer enhanced rust proofing and waterproofing features. These membranes are used in forms of emulsions or sheets so as to make the concrete structures resistant to damage owing to moisture, thereby expanding its lifespan.

Remarkable Development In The Construction Industry To Drive The Growth Of Global Bitumen Membranes Market

Extraordinary growth in the construction sector, particular in Asia Pacific area is the major factor boosting the development of global bitumen membranes market. Asia Pacific has the biggest market share in the worldwide construction sector, mainly boosted by Japan, China, and India. Rising urbanization, increasing population in China & India, low labor cost, and government schemes will boost the regional construction sector.

The global bitumen membranes market might face challenges owing to volatility of the costs for raw material. Bitumen is a downstream petrochemical good and instabilities in the worldwide crude oil sector will have a noteworthy affect on the demand of the product.

Asia Pacific Region To Maintain Its Dominance In The Global Bitumen Membranes Market In The Forecast Period

The world’s biggest nation in terms of construction spending, China, carries to spend in regional construction industry for rising industrial growth. China in 2013 had almost 50% share of the overall construction investment in Asia Pacific area. Moreover, Beijing Municipal Commission of Development and Reform earlier declared 300 primary construction programs adding up for more than USD 33 billion, which comprises 100 programs aiming on development of the infrastructure. Such programs will assist China to maintain the vanguard position in the global construction sector.

The Chinese Government has relaxed the laws for spending in the nation’s construction programs which will boost the construction sector. Indian construction activities are also increasing spending power, increasing at a high pace owing to the need for industrial infrastructure, favorable initiatives by government, and private & public investments. AMRUT and Smart City Mission initiative for improving the rural growth and urban living standard respectively are some actions taken by the Indian Government to market the construction sector. Such fashions will boost the requirement for global bituminous membrane market due to the wide employment of product in construction industry. In addition to this, huge projects such as Beijing airport and Dubai airport will also drive the demand of bitumen membrane in years to come.

Browse the full “Bitumen Membranes Market - By Product (Liquid and Sheets), By Grade (Styrene-Butadiene-Styrene [SBS] and Atactic Polypropylene [APP]), and By Application (Non-Residential, Residential, and Automotive) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032.” Report at https://www.zionmarketresearch.com/report/bitumen-membranes-market

The global bitumen membranes market is segmented as follows:

By Grade

• Atactic Polypropylene [APP]
• Styrene-Butadiene-Styrene [SBS]

By Product

• Sheets
• Liquid

By Application

• Residential
• Non-Residential
• Automotive 

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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