Dallas, Texas (April 09, 2019)—According to a new market report published by Lucintel, the future of the global thermoplastic polyolefin (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 compound annual growth rate (CAGR) of 3.7% from 2019 to 2024. The major drivers for this market are growth in the building and construction industry and increasing demand for green roofing solutions.
Lucintel forecasts that 45-millimeter thickness TPO roofing membrane will remain the largest segment, due to their low cost, for buildings needing 10-15 years of service life. TPO roofing membranes with 80-millimeter thickness are expected to witness the highest growth over the forecast period due to growing demand for materials with greater strength, energy efficiency, durability and performance.
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.
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 nonresidential buildings.
For more information, visit lucintel.com/tpo-roofing-membrane-market.
