Selbyville, Delaware, United States, October 13 2020 (Wiredrelease) Global Market Insights, Inc –:A rapidly increasing urban population and growing need for high-quality infrastructure solutions are fueling global bitumen membranes market size, which is slated to surpass a valuation of US$3.5 billion by 2025.
Expanding real estate sector coupled with government initiatives to build and develop infrastructure across emerging economies is likely to drive global bitumen membranes market. In the construction sector bitumen membranes are widely utilized due to unique product properties, including waterproofing and rust proofing. They also provide protection to concrete structures against moisture and extreme weather conditions, hence increasing durability of the infrastructure.
Initiation of smart city projects in line with the infrastructural development programs across various regions will also boost industry growth. For instance, programs initiated by Indian government, such as AMRUT (Atal Mission for Rejuvenation and Urban Transformation) and smart city projects in major cities of the country are aimed at improving the rural and urban infrastructure along with the living standards of the regional population.
Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/3924
In terms of grades, bitumen membranes can be classified as APP (abbreviated as atactic polypropylene) and SBS (abbreviated as styrene butadiene styrene). SBS grade segment is likely to showcase an impressive growth rate of above 5.5% over the analysis period. Superior product features, such as dimensional stability, better elongation properties and excellent strength has resulted in inflated demand from the construction industry.
On the basis of product type, the bitumen membrane industry is categorized into liquids and sheets. Liquid bitumen membranes are witnessing massive demand from the construction industry due to their excellent waterproofing properties, superior performance in varying temperature conditions, and compatibility with wet substrates.
National Housing Bank of India had set an initial limit to sanction INR 24,000 crore in July 2018-June 2019 timeframe towards refinancing eligible housing finance institutions. Till date, the sanction has been approved for INR 8,835 crore. The refinancing will increase availability of funds for eligible finance companies and other related entities. In this context, it is significant to mention that residential applications will hold 30% of bitumen membranes market share by 2025.
Expanding automotive sector will also offer a push to bitumen membranes industry in the coming years. Bitumen membranes are extensively used as cap sheets for coating purposes in automotive sector. Global automotive production has increased by over 5% between 2015 and 2018. Around 98.1 million motor vehicles were produced throughout the world in 2018. Increase in automotive production will in turn add impetus to bitumen membranes market growth.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
This content has been published by Global Market Insights, Inc company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at email@example.com.
– eTurboNews | Trends | Travel News