Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2019 - 2023 |
| Growth Rate | 5.00% CAGR |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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Asia-Pacific Single-Ply Membrane Market Analysis by Mordor Intelligence
The Asia-Pacific Single-Ply Membrane Market is expected to register a CAGR of greater than 5% during the forecast period.
An increase in the number of COVID-19 cases led to numerous countries resorting to lockdowns, which significantly affected the global economy. The economic and industrial activities came to a temporary halt, which led the single-ply membrane market to witness repercussions in terms of both production and demand from the construction and restoration industries. However, the increasing focus on construction activities in the Asia-Pacific region is expected to help the market achieve growth.
Over the medium term, the major factors driving the market's growth are the rising construction activities, the increasing infrastructure expenditure, and the accelerating usage of low-cost and durable materials in the post-pandemic period. While the increasing awareness and environmental concerns against the use and disposal of plastic and petrochemicals are going to restrain the market growth, the broad approach to restoration in order to reduce emissions is likely to act as a market oppurtunity in the Asia-Pacific region.
The growing demand from the residential sector, owing to expanding housing construction market in India and China, is expected to boost the regional market.
Asia-Pacific Single-Ply Membrane Market Trends and Insights
Increasing Demand from Infrastructural Industry
- The single-ply membranes are used in infrastructures, such as airports, where the area of coverage is large. The installation of reflective single-ply membranes is done to reduce the energy costs of air conditioning in such large structures and make them energy efficient.
- In the Asia Pacific region, major economies such as India, China, and Japan started major infrastructure projects in 2021 and 2022. For instance, in Japan, Prologis Park Tsukuba 3 is a construction project that commenced in Tsukuba, Ibaraki, Japan, which will include a five-story building on 6.85 hectares of land providing storage and logistics facilities to the trading companies of the region.
- Additionally, the Government of India launched National Infrastructure Pipeline (NIP) in 2021, under which investment of around USD 1.4 trillion was planned with a further bifurcation of 24% on renewable energy, 19% on roads and highways, 13% on railways, and 16% on urban infrastructure.
- In India, Delhi Metro Rail Corporation approved the usage of FLAGON PVC membranes. Similarly, the scope for using PVC single-ply membranes is very vast in underground infrastructural projects.
- In the ASEAN countries network, the inter-nation rail network construction project commenced in 2021, aiming to connect Laos, Thailand, Cambodia, China, and Malaysia through an energy-efficient railway network. The project is estimated to cost around USD 67,300 million.
- The Asia-Pacific region is also expected to witness airport infrastructure growth in the future. China has planned to increase the airports count to 450 by 2035 whereas India aims to add 100 airports in Tier II cities under the UDAN scheme over the next three years.
China to Dominate the Market
- China is expected to dominate the market due to the growing construction industry.
- China's construction market is increasing at a substantial rate, owing to its growing population, urbanization, and increase in middle-class income. Residential construction and overall construction in China have increased in the post-pandemic period. The investment in the construction sector increased from CNY 23.27 trillion in 2020 (~USD 3.57 trillion) to CNY 25.92 trillion (USD 4.08 trillion) in 2021.
- In the case of long-term plans announced by the Chinese government for infrastructure development, the development of 162,000 km of expressways is planned by 2035.
- In addition, the Chinese government announced the expansion of the railway network in the Yangtze River Delta (YRD) region with an expenditure of CNY1.1 trillion (USD 180.1 billion) and CNY 400 billion (USD 65.5 billion) on highways in the Xinjiang region. These infrastructure projects will require single-ply membranes for purposes such as waterproofing, weatherproofing, and UV exposure protection and will consequently lead to an increase in the demand for single-ply membranes.
- The Ultra High Voltage projects announced by the Chinese government, which will cost around USD 22 billion, will commence in 2022 and will be managed by China's State Grid.
- Overall, all such factors are expected to increase the single-ply membranes market growth in China over the forecast period.
Competitive Landscape
The Asia-Pacific single-ply membrane market is partially consolidated in nature. Some of the major players in the market include Dow Chemical Company, Tremco Incorporated, RENOLIT, Sika AG, Polygomma Industries Pvt. Ltd, and others.
Asia-Pacific Single-Ply Membrane Industry Leaders
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Dow Chemical Company
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Sika AG
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RENOLIT
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Polygomma Industries Pvt Ltd
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Tremco Incorporated
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
- September 2022: Solvay collaborated with China's 3TREES to manufacture and develop building-integrated photovoltaic thermoplastic polyolefin (BIPV TPO) roofing membranes. The new product will be commercialized by the end of the year.
- April 2022: Tremco CPG India opened a manufacturing facility in Rajasthan, India, to address the increasing demand for construction products in the South Asian market.
Asia-Pacific Single-Ply Membrane Market Report Scope
Single-ply membranes are used in low-slope roofs for the purpose of wide-width sheeting, which acts as a layer of protection for the building. In residential buildings, these layers are used as a weatherproofing and waterproofing technique, and in infrastructural structures, they are used as protective layers in both underground and over-the-ground structures. The Asia-Pacific single-ply membrane market is segmented by type, application, and geography. By type, the market is segmented into ethylene propylene diene monomer, thermoplastic polyolefin, polyvinyl chloride, modified bitumen, and other types. By application, the market is segmented into residential, commercial, institutional, and infrastructural. By Geography, the market is segmented into China, India, Japan, South Korea, ASEAN Countries, and the Rest of Asia-Pacific. For each segment, the market sizing and forecasts have been provided on the basis of volume (million square meters) and value (USD million).
By Type
| Ethylene Propylene Diene Monomer (EPDM) |
| Thermoplastic Polyolefin (TPO) |
| Polyvinyl Chloride (PVC) |
| Modified Bitumen |
| Other Types |
By Application
| Residential |
| Commercial |
| Industrial and Institutional |
| Infrastructure |
By Geography
| India |
| China |
| Japan |
| South Korea |
| ASEAN countries |
| Rest of Asia-Pacific |
| By Type | Ethylene Propylene Diene Monomer (EPDM) |
| Thermoplastic Polyolefin (TPO) | |
| Polyvinyl Chloride (PVC) | |
| Modified Bitumen | |
| Other Types | |
| By Application | Residential |
| Commercial | |
| Industrial and Institutional | |
| Infrastructure | |
| By Geography | India |
| China | |
| Japan | |
| South Korea | |
| ASEAN countries | |
| Rest of Asia-Pacific |
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Key Questions Answered in the Report
What is the current Single-ply Membrane Market size?
The Single-ply Membrane Market is projected to register a CAGR of greater than 5% during the forecast period (2025-2030)
Who are the key players in Single-ply Membrane Market?
Dow Chemical Company, Sika AG, RENOLIT, Polygomma Industries Pvt Ltd and Tremco Incorporated are the major companies operating in the Single-ply Membrane Market.
What years does this Single-ply Membrane Market cover?
The report covers the Single-ply Membrane Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Single-ply Membrane Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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