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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Browse 50 market data tables* and 40 figures* on "Global Waterproofing Membranes Market” - Forecast to 2030.
Key Trends and Analysis of the Global Waterproofing Membranes Market:
- Key players are adopting various growth strategies such as new product launches and product development, in order to expand their portfolio and share in the global waterproofing membranes market. For instance, in September 2019, RENOLIT SE, a thermoplastic film manufacturer, launched a new waterproofing membrane technology called Renolit Alkorsmart. This solution aids in reducing the thickness of structures, which would further help in weight reduction and offer stability to the structures in extreme climates.
Key Takeaways of the Global Waterproofing Membranes Market:
- Among regions, Asia Pacific is expected to hold a dominant position in the global waterproofing membranes market over the forecast period, owing to an increase in the number of manufacturing units of waterproofing membrane in the region. Moreover, growth of the building and construction industry and the wastewater management industry in Asia Pacific are also expected to drive the market growth.
- Growth of waterproofing membranes market can be attributed to the growing infrastructural developments and rapid industrialization, especially in China and India. The trend will increase the congestion in the city which will increase demand for utilities in a domestic application for water requirement, this will add growth to the market. In North America, market for waterproofing membranes was valued at US$ 5.0 billion in 2021 and is expected to grow at a significant CAGR over the forecast period, which can be attributed to the rise in construction activities in Mexico and Canada.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the waterproofing membranes industry are key strategies adopted by players in the global waterproofing membranes market. For instance, in August 2021, Sika, a Swiss multinational specialty chemical company, acquired Shenzhen Landun Holding Co., Ltd., a manufacturer of waterproofing systems in China. Shenzhen Landun Holding Co., Ltd. offers a comprehensive range of waterproofing products and technologies, perfectly complementing Sika’s existing portfolio. The combined offering is estimated to provide new opportunities in the rapidly growing waterproofing market in China.
