Bitumen Membranes Market Size

Bitumen Membranes Market Analysis

The Bitumen Membranes Market size is estimated at 0.99 Billion square meters in 2024, and is expected to reach 1.12 Billion square meters by 2029, growing at a CAGR of greater than 2% during the forecast period (2024-2029).

COVID-19 has had a significant impact on the bitumen membrane industry. The construction industry has faced challenges such as lockdowns in different countries, logistical constraints, supply chain interruptions, workforce shortages, limited component availability, decreased demand, low company liquidity, and manufacturing shutdowns due to lockdowns, has experienced adverse impacts. In response, raw material suppliers and affiliated businesses are compelled to reassess their strategies to address the industry's needs during this crisis period. However, the condition recovered in early 2021, thereby restoring the market's growth trajectory.

• The growing construction activities in the Asia-Pacific region and the versatility of membrane applications in various areas, such as waterproofing, humidifying, binding, and other applications, are likely to enhance market demand.
• On the flip side, the potential health and environmental issues affiliated with bitumen membranes due to the presence of various solvents and diluents are hindering the growth of the market.
• Nevertheless, the rising interest in green roofs to boost demand for waterproofing membranes is expected to offer lucrative opportunities to the market.
• The European region is expected to account for the largest share of the global bitumen membranes market over the forecast period.