The report “Elastomeric Membrane Market by Type (Sheet, Liquid Applied), Application (Roofs & Walls, Underground Construction, Wet Areas), End-use Industry (Non-residential, and Residential Construction), and Region – Global Forecast to 2022″, The elastomeric membrane market is projected to reach USD 41.10 Billion by 2022, at a CAGR of 6.7% from 2017 to 2022. Growing demand for the elastomeric membrane in the construction industry is driving the elastomeric membrane market. Moreover, the growing population, globalization, and increasing investments in infrastructure enhancement are expected to result in high demand for the elastomeric membrane.
Among applications, the roofs & walls segment is projected to grow at the highest CAGR during the forecast period
Roofs & walls are the largest and fastest-growing application of the elastomeric membrane market owing to the high demand for sheet membranes in non-residential flat roofs. The elastomeric membrane is widely used in exterior applications and hence is a preferred choice in roofing. It can sustain adverse climatic conditions and improves the durability of roofing systems. Increasing construction of commercial and industrial buildings have further fueled the use of elastomeric membranes in this application.
Among end-use industries, the non-residential construction segment expected to lead the elastomeric membrane market during the forecast period
The non-residential construction end-use industry is the largest and fastest-growing segment owing to high demand for the elastomeric membrane in commercial buildings in the application of the flat roof. Due to growing industrialization and globalization, the non-residential sector is expected to experience rapid growth in commercial and institutional constructions. Moreover, the penetration of the elastomeric membrane is higher in this segment as it is expensive and hence affordable in non-residential construction projects which have high budgets.
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