Global waterproofing membranes market was estimated to be valued at US$ 28.48 Billion in 2021, according to the Waterproofing Membranes Market Report, by Product Type (SBS Bitumen, APP Bitumen, Polyvinyl Chloride (PVC), Ethylene Propylene Diene Monomer (EPDM), Thermoplastic Olefin (TPO), High-density Polyethylene (HDPE), Low-density Polyethylene (LDPE), and Others), by Category (Liquid Applied Membranes and Sheet-based Membranes), by Application (Roofing & Walls, Building Structures, Waste & Water Management, Mining Application, Landfill & Tunnel Liners, Bridges & Highways and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East & Africa), published by Coherent Market Insights.
Global waterproofing membranes market was valued at US$ 28.48 Billion in 2021. Waterproofing membranes market is expected to register a CAGR of 7.8% over the forecast period (2022–2030). The market for waterproofing membranes is majorly driven by its increasing demand from the end-use industries such as building and construction, among others. The waterproofing membrane is generally used for roofs, walls, and other structures of buildings to prevent water penetration through the surfaces. Waterproofing membrane is water resistant, reliable, and durable. Properties offered by waterproofing membranes such as Ultraviolet (UV) stability, tear resistance, chemical stability, abrasion resistance breathability, and others are expected to boost growth of the global waterproofing membranes market over the forecast period.
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 has provided some stability to the construction sector thus driving the waterproofing membranes market growth.
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