WATERPROOFING MEMBRANES MARKET ANALYSIS

A waterproofing membrane is a thin layer of material used to prevent water from contacting another material that it is placed over. Waterproofing membranes may be adhesive or simply laid on top of the material they are supposed to protect. Waterproofing membranes are made from many different materials and are commercially available in various sizes and thicknesses.

Global waterproofing membranes market was valued at US$ 28.48 Billion in 2021 in terms of revenue, exhibiting a CAGR of  7.8% during the forecast period (2022 to 2030).

Drivers

The increasing demand for waterproofing membranes from various end-use industries such as construction and mining is expected to drive growth of the global waterproofing membranes market. The waterproofing membrane is used in various applications such as construction, mining, building, and roofing.

Infrastructure is the key element for transforming under developed countries into emerging or developing countries. Rapid urbanization in emerging economies and continued urbanization in advanced economies are the major drivers of infrastructure spending. A rise in infrastructure spending includes the creation of a huge demand for private and public sector infrastructural developments, such as power stations, electricity grids, water supply and treatment plants, roads, railways, airports, bridges, telecommunications networks, schools, and hospitals. The building & construction industry requires high-performance materials that are strong, lightweight, high-performance, durable, and versatile. The quality and performance of building materials need to be extremely consistent; as a result, demand for waterproofing membranes is increasing for infrastructural development. The increasing population in emerging regions, and the need for improved infrastructure, are expected to drive the global consumption of waterproofing membranes.

The waterproofing membranes are used mainly in the construction industry. COVID-19 has severely impacted this industry. The lockdown in various countries and logistical restrictions have adversely impacted the construction industry. Supply chain disruptions, workforce unavailability, logistical restrictions, limited availability of components, demand drop, low company liquidity, and shutdown of manufacturing due to lockdown in various countries have adversely affected the industry. Raw material suppliers and other related businesses are forced to re-evaluate their strategies to cater to this industry during this crisis period. Demand for construction activities has increased in the healthcare sector, owing to the pandemic. A rise in demand for new hospitals and care institutions have provided some stability to the construction sector thus driving the waterproofing membranes market.

Figure 1. Global Waterproofing Membranes Market Value Share (%), By Region, 2021

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Market Restraints

Fluctuating raw material prices of waterproofing membranes are expected to restrain growth of the global market in the forecast period due to supply and demand imbalance. The raw materials used for producing waterproofing membranes include polypropylene and bitumen among many others.

Market Trends

Key players are adopting growth strategies such as product development, among others, in order to expand their portfolio and market share in the global waterproofing membranes market.

Figure 2. Global Waterproofing Membranes Market Value Share (%), By Category, 2021

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On the basis of category, waterproofing membranes market is segmented into liquid applied membranes and sheet-based membranes. Moreover, in 2021, liquid applied membranes segment accounted for 66.2% of the revenue share.

Recent Developments

• In March 2020, Sika, a chemical company, operated a new production facility for the SikaProof structural waterproofing membrane, at Sarnen, Switzerland. This investment in the expansion will boost manufacturing efficiency and enable the company to serve the rapidly growing market.
• In June 2022, Sika, a chemical company, established a new manufacturing plant for concrete admixtures on stream in Stafford, Virginia, USA. With the opening of the plant near Washington D.C., Sika is increasing its production capacity in the important American construction market so that it can readily satisfy the strong demand in the Northeast and Mid-Atlantic regions.
• In February 2022, Carlisle Companies Inc., an American diversified company, announced the acquisition of MBTechnology, Inc., (MBT) a manufacturer of energy-efficient, styrene-butadiene-styrene modified bitumen roofing and underlayment systems for residential and commercial applications

Competitive Section

Major players operating in the global waterproofing membranes market include Carlisle Companies Inc., Chryso S.A.S., Copernit S.P.A., Derbigum, DuPont de Nemours, Inc., Firestone Building Products Company, LLC., Flex Roofing Systems, Fosroc, Inc., GAF Materials Corporation, GCP Applied Technologies, IKO Industries, Ltd., ISOMAT S.A., Johns Manville Corporation, Juta A.S., RENOLIT SE, Sika Group, Solmax International Inc., and Soprema Group