Global Roofing Membranes Market Is Driven By Rapid industrialization and growing construction activities | TMR
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Geographically, the roofing membranes market is segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and Latin America. All these regions are seeing an rising demand for roofing membranes due to increasing governmental investments on account of infrastructural developments. North America dominated the global demand for roofing membranes in 2015 in terms of revenue. The U.S. and Canada are anticipated to experience rapid growth, propelling the usage of roofing membranes in North America. Rapid industrialization and growing construction activities are expected to drive the demand for roofing membranes in this region. Furthermore, developing regions continue to garner a considerable share of the global roofing membranes market, creating huge opportunities for market players. Asian countries like India, China, and Japan have witnessed an increase in the demand for roofing membranes. Moreover, Middle Eastern countries such as Qatar, Turkey, and Saudi Arabia will contribute to the growth of the market due to the growing demand for roofing membranes.
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The global roofing membranes market is highly competitive due to the presence of both large-scale and small-scale vendors. These companies have been investing considerable capital in R&D in order to expand their production capabilities and to meet growing market demand. Since all the major vendors compete with one another to gain maximum market shares, the competitive environment in the market is rather fierce. These vendors compete in terms of product differentiation, price, product innovation, product distribution, and promotion. Competition in the market will intensify further with the emergence of more players. Technological upgrades will lead to the entry of a large number of new players who engage in single- and multi-dealer platforms. This leads to higher levels of competition among existing players. To survive in this competitive market and to gain success, it is crucial for manufacturers to distinguish their products and services through a unique and clear value proposition.
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Some of the key players actively present in the roofing membranes market are Carlisle Companies Inc., Sika AG, The Dow Chemical Company, Soprema Group, Firestone Building Products Company, LLC, BASF SE, GSE Environmental, Johns Manville, and GAF Materials Corporation.
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