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Technological advancements in bitumen membranes are creating opportunities for market expansion and new applications. Polymer-modified bitumen membranes, which offer superior flexibility, thermal stability, and resistance to aging, outperform traditional bitumen membranes. These advancements enhance the reliability of bitumen membranes in extreme weather conditions and ensure their long-term use.
With an increased focus on sustainability, manufacturers are developing bitumen membranes that incorporate recycled materials, low volatile organic compounds (VOCs), and other eco-friendly features to meet regulatory standards and address environmental concerns. When combined with other materials, bitumen membranes provide excellent thermal insulation, contributing to energy efficiency in buildings. This is particularly important as energy costs rise and more stringent building regulations require insulation and waterproofing for energy conservation.
The global market for bitumen membrane was reached USD 1.6 billion in 2023 and is estimated to grow at a CAGR of over 7% from 2024 to 2032, driven by the booming construction and infrastructure sectors.
The modified bitumen membranes segment accounted for revenue of around USD 970 billion in 2023 and is estimated to grow at a CAGR of around 7.5% from 2024 to 2032, led by their superior waterproofing properties.
The building structure segment held around 42% of the market share in 2023 and is anticipated to grow at a CAGR of 7.8% during 2024 to 2032, propelled by the increasing demand for effective waterproofing solutions in building applications.
Major players in the bitumen membranes industry include Alchimica, Bauder, Derbigum, Exxon Mobil, Fosroc, GAF, Inc., Garland, Maris, Polyglass, Shell, Sika, and Soprema.
The U.S. bitumen membrane market size crossed USD 340 million in 2023 and is estimated to grow at a CAGR of over 7.5% from 2024 to 2032, driven by the expansion of metropolitan areas and government infrastructure initiatives.