Single-ply Membranes Market - Forecast(2023 - 2028)

Single-ply Membrane Market size is forecast to reach $7.5 billion by 2026, after growing at a CAGR of 7.4% during 2021-2026. Globally, the rising demand for single-ply membrane owing to its flexible, durable, and UV resistant properties in various end-use industries such as residential, commercial, industrial, and infrastructure, is estimated to drive the market growth. Also, the increasing usage of flexible sheets of thermoset or thermoplastic membranes such as ethylene propylene diene monomer, thermoplastic polyolefin, and polyvinyl chloride, due to its recyclable properties will substantially drive the demand for single-ply membrane. Moreover, with the rising building and infrastructure construction projects in various regions, it is anticipated that the single-ply membrane industry will boost in the projected time frame.

The COVID-19 pandemic and its disruption to several construction activities declined the growth of the single-ply membrane market in the year 2020. Due to insufficient labour and supply chain disruption, the ongoing construction projects were set at a pause which also affected the market growth. Furthermore, considering the new government norms and reopening of several industries, it is presumed that the market for single-ply membrane will return to normal conditions and drive the market growth in the forecast period (2021-2026).

The report: “Single-ply Membrane Market Report – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the single-ply membrane market.

By Membrane Type: Thermoplastic Membrane (Polyvinyl Chloride (PVC), Thermoplastic Olefin (TPO), Chlorinated Polyethylene (CPE), and Others) and Thermoset Membrane (Ethylene Propylene Diene Terpolymer (EPDM), Chlorosulfonate-Polyethylene (CSPE), Polyisobutylene (PIB), Neoprene (CR), and Others)

By End Use: Residential Construction, Commercial Construction, Industrial Construction, and Infrastructure

By Geography: North America (U.S., Canada, and Mexico),  Europe (U.K., Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, ANZ, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa)

Thermoplastic membrane held the largest share in the single-ply membrane market in 2020 and offers a layer of insulation that adds more strength and flexibility. PVC (polyvinyl chloride) and TPO (thermoplastic polyolefin) are the most common thermoplastic membranes used. Thermoplastic Polyolefin (TPO) is a polypropylene-based plastic and ethylene/propylene rubber material. Thus, it is prepared by combining plastic and rubber. It has various benefits, such as fast repair, heat weldability, and versatility. It has become common due to its ability to withstand ultraviolet (UV) radiation, ozone, and environmental chemicals. They can be conveniently mounted on both low and high slope surfaces. Thermoplastic Polyolefin (TPO) is growing its popularity with the rising commercial construction activities. With the growing demand for thermoplastic polyolefin, the thermoplastic membrane segment will rise. Thus, this is estimated to drive the market for single-ply membrane in the forecast period.

The residential construction sector held the largest share of more than 25% in the single-ply membrane market in 2020. Rising demand for single-ply membrane in residential flat roofs owing to its cost-effective and lightweight properties has raised the market demand. In residential construction, two of the most widely used single-ply thermoplastic membranes are thermoplastic polyolefin, and polyvinyl chloride, both of which are plastic-based. Thermoplastic membranes are typically manufactured to provide a reinforcing sheet, usually polyester or fibreglass, which provides extra strength and resilience. According to the U.S. Census Bureau report as of January 2021, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau jointly announced new residential construction statistics for December 2020. As per the report, an estimated 1,452,000 housing units were granted construction permits in the year 2020, which is 4.8% (±0.4%) over the 1,386,000 figure for 2019. Hence, with the rising residential construction, the market for single-ply membrane is estimated to see an upsurge over the forecast period.

The Asia Pacific region held the largest share of more than 38% in the single-ply membrane market in 2020. Globally, the demand for single-ply membrane is dominated by the Asia-Pacific region due to the rising commercial, residential, industrial, and infrastructure buildings.  With the increasing government investments in several commercial and infrastructure construction projects in countries such as China, India, Japan, and South Korea the market for single-ply membrane is estimated to grow. According to the India Brand Equity Foundation, under the Union Budget 2020-21, the Ministry of Housing and Urban Affairs has secured an allowance of Rs 50,040 crore (US$ 6.85 billion). Also, in China, the construction industry value is estimated to rise at an annual average of 5% in real terms between 2019 and 2023. Thus, such initiatives taken by the government for the construction of new projects will raise the demand for the single-ply membrane market in the forecast period.

Infrastructure development acts as a boon for the country’s economy. Hence, the government taking initiatives to develop the infrastructure sector is estimated to boost the market growth. For instance, The National Infrastructure Delivery Strategy in Europe brings together the government economic investment proposals for the next 5 years to promote the delivery of housing and social infrastructure. This is reflected in the Government's pledge to spend more than £100 billion (121.35 billion) by 2020-21, along with substantial continued private sector investment in the infrastructure. Also, according to the India Brand Equity Foundation, in November 2020, the Union Cabinet authorized investments of Rs. 6,000 crore (USD 816.18 million) in the debt platform of the National Infrastructure Investment Fund (NIIF) to fuel infrastructure development in the country over the next two years. This move will help the organization to raise Rs. 1.10 lakh crore (US$ 15 billion) to support infrastructure projects by 2025. Thus, with the rising government investments in the infrastructure sector, the market for single-ply membrane is predicted to rise in the projected period.

Single-ply roofing is considered environmentally sustainable. Single-ply roofing is also a much safer environmental alternative. This type of roofing has numerous environmental advantages including energy efficiency. Since there is less unused space under the roof for heating or cooling consumer can save a large amount of energy, which is beneficial for the atmosphere and one's wallet. Thermoplastic polyolefin and Ethylene propylene diene monomer are the two eco-friendly roofing most commonly used on flat roofs. Also, single-ply roof membranes can be recycled when discarded, which is completely critical for eliminating building waste.  Single-ply roofing can also be conveniently converted or modified to suit the green roof infrastructure, which is an increasingly common way to minimize household carbon emissions. Thus, the rising demand for eco-friendly roofing such as single-ply roofing is expected to drive the single-ply membrane market growth during the forecast era.

The construction industry has been struggling with a severe labour shortage over the last few years. While the market itself is booming and the demand for new construction – such as private homes, affordable housing, industrial real estate, and public works and institutional facilities – has risen, the skilled workforce required to complete these vital developments has declined dramatically. Owing to the lack of skilled labour at construction sites, it takes some time for the installation of single-ply membranes on building roofs to be completed and certain projects to be entirely scrapped. Also, the scarcity of skilled labour drives up the cost and lowers the quality of single-ply membrane installation work. Thus, due to a shortage of skilled labour in the construction sites, the market for single-ply membrane is anticipated to face huge difficulties in the upcoming years.

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the single-ply membrane market. Major players in the single-ply membrane market are Dow Roofing Systems LLC, Carlisle SynTec System, Duro-Last, Inc., Owens Corning, Johns Manville, Kingspan Group, Baker Roofing Company, GAF, Firestone Building Products Company LLC, and Carney Roofing Company Inc., among others.