Global TPO roofing membrane market is expected to reach $2.2 billion by 2024
9 April 2019
DALLAS, April 09, 2019 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global TPO roofing membrane market looks promising with opportunities in the commercial, residential, and industrial markets. The global TPO roofing membrane market is expected to reach an estimated $2.2 billion by 2024 with a CAGR of 3.7% from 2019 to 2024. The major drivers for this market are growth in the building & construction industry and increasing demand for green roofing solutions.
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Lucintel forecasts that 45 millimeter thickness TPO roofing membrane will remain the largest segment due to their low cost and is ideal choice for buildings which needs 10-15 years of service life. TPO roofing membranes with 80 millimeter thickness are expected to witness highest growth over the forecast period due to growing demand for materials with greater strength, energy efficiency, durability, and performance.
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North America will remain the largest region over the forecast period due to stringent government regulations and building codes for energy efficiency. Asia Pacific is expected to witness the highest growth over the forecast period due to increasing construction activities and growing awareness about cost effective building solutions.
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In this market, 45 millimeter, 60 millimeter, and 80 millimeter thick TPO roofing membranes are used as water proofing, heat resistance, and damage resistance solutions in residential and non-residential buildings. Carlisle Companies Incorporates, GAF Materials Corporations, Johns Manville, Firestone Building Products, DowDuPont Inc., and Sika AG are among the major TPO roofing membrane manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed and forecasted for the global TPO roofing membrane market by end use industry, membrane thickness, application, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global TPO Roofing Membrane Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
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