At a 5.4% CAGR, Global Waterproofing Membrane Market Share to Surpass USD 40.2 Billion by 2028: Industry Size, Trends, Forecast Report by Zion Market Research
NEW YORK, March 8, 2022 /PRNewswire/ -- As per Zion Market Research study, The Global waterproofing membranes market was worth around USD 34.9 billion in 2021 and is estimated to grow to about USD 40.2 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.4% over the forecast period. The report analyzes the waterproofing membranes market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the waterproofing membranes market.
Zion Market Research published the latest report titled as "Waterproofing Membranes Market By Raw Material (Modified Bitumen, PVC, TPO, Acrylic, Polyurea, Polyurethane, And Others), By Type (Liquid-Applied Membranes and Sheet-Based Membranes), By Usages (Refurbishment and New Construction), By Application (Building Structures, Roofing, Walls, Roadways, Waste & Water Management, and Others) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028." into their research database.
Waterproofing Membranes Market: Overview
A waterproofing membrane is a water-tight layer of material that is applied to a surface to avoid water leaks or damages. Waterproofing membranes are typically pre-formed or liquid-applied sheets. To minimize water penetration, they can be attached to or placed around the foundations (much like a structural slab). Waterproofing will assist stop water from seeping the foundation and safeguard the property from water damage, whether it's for your building's basement or roof. A waterproofing membrane is applied to the concrete to aid prevent water penetration while also making it easier to maintain. The waterproofing membrane can be used in the interior, such as in the case of repairs, the exterior, or in regions inaccessible to individuals, depending on the construction and requirement.
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A waterproofing membrane is a fine layer of material that is put over another surface to prevent water from entering it. Waterproofing membranes might be adhesive or simply put on top of the substance to be protected. These waterproofing membranes can be manufactured with a variety of materials and come in a variety of sizes & thicknesses. Considering the applications these membranes can be utilized in several applications, including covering concrete as it is created to prevent water from affecting its structural integrity, and coating objects that are submerged where corrosion is a problem.
Industry Dynamics:
Waterproofing Membranes Market: Growth Drivers
Infrastructure is how low- and middle-income nations are transformed into emerging or developing nations. Infrastructure expenditure is primarily driven by rapid urbanization in developing nations and sustained urbanization in industrialized economies. Infrastructural projects like power plants, electrical grids, water treatment & supply plants, highways, trains, airports, telecommunications networks, bridges, schools, and hospitals are all in high demand as a result of increased infrastructure investment. High-performance materials that are lightweight, strong, durable, high-performance, and adaptable are required by the building and construction sector. Because the quality and performance of construction materials must be exceedingly uniform, the demand for waterproofing membranes for infrastructure development is expanding.
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Waterproofing Membranes Market: Restraints
The usage of waterproofing agents or membranes can be hazardous to the environment and human health. When employed in spray form, waterproofing membranes can be hazardous to the user as well as nearby personnel. These substances may include fluorinated substances, which can induce chemical pneumonitis, lung damage, and other respiratory disorders when they reach the respiratory system. Workers may also be exposed to hazardous vapors while using bitumen-based membranes. Long-term exposure to these chemicals can cause health problems including nasal inflammation and bronchitis. Additionally, people who have worked for a long time have had higher nasal and pharyngeal complaints. Although synthetic waterproofing membranes are becoming more popular, bitumen still has a considerable market share among several other waterproofing membranes.
Waterproofing Membranes Market: Opportunities
Toxicity and VOC levels are two drawbacks of waterproofing membranes. Manufacturers like Sika, Fosroc, and Tremco supply and have invested in R&D of solutions that have a low environmental effect. Manufacturers are progressively obtaining green certification for their materials to be used in energy-efficient buildings such as green roofs and green buildings. Green roofs reduce energy expenditures, the urban heat island effect, and stormwater runoff while also removing dangerous air pollutants. Green buildings, on the other hand, are structures that are both energy efficient and ecologically conscious throughout their lifespan. Waterproofing is vital for these structures because it protects them from water runoff and weather conditions while also increasing their energy efficiency.
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Waterproofing Membranes Market: Challenges
The majority of the basic ingredients required to make waterproofing membranes come from crude oil. PU, PVC, acrylic, and bitumen-based waterproofing membranes are all generated from petroleum. According to the BP Statistical Review of Energy, crude oil is one of the most significant sources of energy, accounting for 27.3 percent of worldwide primary energy consumption in 2015. From a low of USD 29.8 per barrel at the end of January 2016, the average crude oil spot price rose to USD 52 per barrel by the end of December 2016. Crude oil prices are on the mend and have steadied in the USD 55-60 per barrel area in 2017. Similarly, the current pandemic conditions also fluctuated the petroleum prices which directly affected the raw material prices.
List of Key Players of Waterproofing Membranes Market:
- BASF
- Sika
- Tremco
- GCP applied technologies
- Soprema
- Fosroc
- Carlisle Construction Company
- Johns Manville
- Mapei
- Renolit
Key Industry Insights & Finding of the Waterproofing Membranes Market Reports:
- As per the analysis shared by our research analyst, the waterproofing membranes market is expected to grow annually at a CAGR of around 5.4% (2022-2028).
- Through the primary research, it was established that the waterproofing membranes market was valued approximately USD 34.9 billion in 2021 and is projected to reach to roughly USD 40.2 billion by 2028.
- On the basis of region, Asia Pacific occupied the global market, with share of more than 31% during the forecast timeframe.
Key questions answered in this report:
- What are the growth rate forecast and market size for Waterproofing Membranes Market?
- What are the key driving factors propelling the Waterproofing Membranes Market forward?
- What are the most important companies in the Waterproofing Membranes Market Industry?
- What segments does the Waterproofing Membranes Market cover?
- How can I receive a free copy of the Waterproofing Membranes Market sample report and company profiles?
Report Scope:
Waterproofing Membranes Market: Segmentation Analysis
The global waterproofing membrane market is categorized based on raw material, type, usages, application, and region.
Based on raw materials, the market is bifurcated based on modified bitumen, PVC, TPO, acrylic, polyurea, polyurethane, and others. The type segment covers liquid-applied membranes and sheet-based membranes. Based on usage, the market is segregated as refurbishment and new construction. The application segment of the global waterproofing membrane market comprised building structures, roofing, walls, roadways, waste & water management, and others.
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Recent Developments:
- Sika opened a new production plant for the Sika Proof structural waterproofing membrane in Sarnen, Switzerland, in March 2020. This expansion will increase manufacturing efficiency and allow the firm to service a fast-rising market.
- In April 2021, Tremco CPG APAC expands its roofing restoration portfolio with the addition of AlphaGuardTM BIO.
Regional Dominance:
- Asia Pacific dominated the global market, with a revenue share of more than 31% during the forecast period
In 2021, Asia Pacific dominated the global waterproofing membranes market, with a revenue share of more than 31 percent. The accelerated industrialization and expanding infrastructure advancements, particularly in India and China are to account for the expansion. Furthermore, the tendency would create city density, which will boost demand for utility and services in a home application for water requirements, resulting in market growth. The waterproofing membranes market in North America is predicted to expand at a substantial rate throughout the forecast period, owing to increased building activity in Mexico and Canada. Furthermore, increased investment in warehouse development for the retail, healthcare, and automotive industries, all of which require waterproofing solutions, is boosting the market growth.
Global Waterproofing Membranes Market is segmented as follows:
Waterproofing Membranes Market: By Raw Material Outlook (2022-2028)
- Modified Bitumen
- PVC
- Acrylic
- TPO
- Polyurea
- Polyurethane
- Others
Waterproofing Membranes Market: By Type Outlook (2022-2028)
- Liquid-applied Membranes
- Sheet-based Membranes
Waterproofing Membranes Market: By Usage Type Outlook (2022-2028)
- Refurbishment
- New construction
Waterproofing Membranes Market: By Application Outlook (2022-2028)
- Roofing
- Building Structures
- Walls
- Waste & water management
- Roadways
- Others
Waterproofing Membranes Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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