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The elastomeric membrane market share is expected to increase by USD 15.09 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.58%.
This elastomeric membrane market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers elastomeric membrane market segmentation by end-user (non-residential and residential) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The elastomeric membrane market report also offers information on several market vendors, including Barrett Co., BASF SE, Carlisle Companies Inc., Compagnie de Saint Gobain SA, Covestro AG, Firestone Building Products Co. LLC, GCP Applied Technologies Inc., Hyload Inc., JMH International Ltd., Johns Manville, Kemper System, Lapolla Industries Inc., Mapei SpA, Master Builders Solutions Deutschland GmbH, Sika AG, SOPREMA SAS, Standard Industries Inc., The Dow Chemical Co., The Sherwin-Williams Co., and Triton Inc. among others.
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The increasing consumption of thermoplastic elastomer coatings in the automotive industry is notably driving the elastomeric membrane market growth, although factors such as volatility in prices of raw materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the elastomeric membrane industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Elastomeric Membrane Market Driver
The increasing consumption of thermoplastic elastomer coatings in the automotive industry is one of the key drivers supporting the elastomeric membrane market growth. Thermoplastic elastomers, such as acrylic, ethylene-propylene rubber, and other polymers, are preferred for coating applications in automotive plastic components. For instance, according to the International Trade Administration (ITA), the Chinese government is expected to increase the sales of automobiles in the country to 35 million units by 2025. Furthermore, according to the IBEF, the Indian government expects the automotive sector to attract $8-$10 billion in local and foreign investments by the end of 2023. Hence, such factors are expected to boost the growth of the automotive industry, which, in turn, will accelerate the demand for elastomeric membranes during the forecast period.
Key Elastomeric Membrane Market Trend
The burgeoning construction industry globally is one of the key elastomeric membrane market trends that is contributing to the market growth. Elastomeric membrane materials, such as acrylic, polyurethane, polysulfide rubber, silicone, and epoxy, are used as surface coatings in buildings, including the wall area, floors, and roof coverings. These coatings are widely used in buildings due to their beneficial properties, such as abrasion resistance, chemical resistance, tear strength, high resistance to moisture, and temperature compatibility. Thus, the rapid growth of the building and construction sector worldwide is driving the demand for elastomeric membranes. Such increasing demand will propel the market growth during the forecast period.
Key Elastomeric Membrane Market Challenge
Volatility in the prices of raw materials is one of the factors hindering the elastomeric membrane market growth. For instance, global crude oil demand declined by 2.5 million barrels per day in Q2 2020 due to the nationwide lockdowns implemented across countries globally following the outbreak of COVID-19. Similarly, in the second quarter, the global crude oil demand declined by around 90,000 barrels a day compared with the corresponding period in 2019. In addition, according to British Petroleum Company PLC (BP) statistics, oil prices declined to $64.21/bbl in 2019, while they were $71.31/bbl in 2018. Furthermore, in February 2022, the price of crude oil crossed $100/bbl, primarily due to the imminent war between Russia and Ukraine. Thus, fluctuations in the global prices of crude oil will hamper the growth of the global elastomeric membrane market during the forecast period.
This elastomeric membrane market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global elastomeric membrane market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the elastomeric membrane market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the elastomeric membrane market encompasses successful business strategies deployed by the key vendors. The elastomeric membrane market is fragmented and the vendors are deploying organic and growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The elastomeric membrane market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the elastomeric membrane market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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40% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the elastomeric membrane market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rapid increase in construction activities and the use of polysulfide rubber in industrial applications will facilitate the elastomeric membrane market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 negatively impacted the industrial sector across the region. However, there was a gradual resumption of business activities in the region due to the decline in the number of COVID-19 cases by various government initiatives such as mass vaccination drives and restrictions on public gatherings. Along with the growing focus on construction, this led to a subsequent rise in the demand for coatings such as elastomeric membrane, which is expected to drive the market in focus during the forecast period.
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The elastomeric membrane market share growth by the non-residential segment will be significant during the forecast period. The non-residential segment has captured the highest market share in the global elastomeric membrane market in 2021. This is attributed to the continuous increase in the number of commercial spaces and public infrastructure globally. Significant activities are happening in the field of building and upgrading existing infrastructure, particularly in emerging economies, which are focusing on improving their public infrastructure to attract FDI. Furthermore, emerging economies are witnessing an increase in office spaces due to the rise in outsourcing activities of companies in developed economies. Thus, rising number of commercial spaces across the globe will further drive the growth of the segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the elastomeric membrane market size and actionable market insights on post COVID-19 impact on each segment.
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Elastomeric Membrane Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.58% |
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Market growth 2022-2026 |
$ 15.09 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.12 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 40% |
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Key consumer countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Barrett Co., BASF SE, Carlisle Companies Inc., Compagnie de Saint Gobain SA, Covestro AG, Firestone Building Products Co. LLC, GCP Applied Technologies Inc., Hyload Inc., JMH International Ltd., Johns Manville, Kemper System, Lapolla Industries Inc., Mapei SpA, Master Builders Solutions Deutschland GmbH, Sika AG, SOPREMA SAS, Standard Industries Inc., The Dow Chemical Co., The Sherwin-Williams Co., and Triton Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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