Waterproofing Products Market to Reach $66.1 Billion, Globally, by 2033 at 3.8% CAGR: Allied Market Research

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Mar 06, 2024, 10:20 ET

The global waterproofing products market is experiencing growth due to several factors such as increase in demand for waterproofing membranes from roofing and wall applications and rise in demand from the construction industry

WILMINGTON, Del., March 6, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Waterproofing Products Market by Product Type (Waterproof Paints, Polymer Waterproof Sheets, Rigid Waterproof Materials, Asphalt Waterproof Rolls, Building Seal Waterproof Materials, and Others) and Application (Roofing and Walls, Floors and Basements, Water and Waste Management, Tunnel Liners, Bridges and Highways, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2033". According to the report, the global waterproofing products market was valued at $42.5 billion in 2019 and is projected to reach $66.1 billion by 2033, growing at a CAGR of 3.8% from 2023 to 2033.

Prime determinants of growth

The global waterproofing products market is experiencing growth due to several factors such as its increasing concern regarding waste and wastewater management and rise in demand in both commercial and residential building sectors. However, price and availability of raw materials hinder the market growth. Moreover, technological advancements in waterproofing products offers remunerative opportunities for the expansion of the waterproofing products market.

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Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2019

Market Size In 2021

$42.5 Billion

Market Size In 2031

$66.1 Billion

CAGR

3.8 %

No. Of Pages In Report

250

Segments Covered

Product Type, Application And Region.

Drivers

Increase In Use Of Waterproofing Membranes In Infrastructure Applications

Surge In Residential Construction

Opportunity

Increase In Awareness Of Green Roofs

Restraint

Environmental And Health Risks Associated With Waterproofing Products

The polymer waterproof sheets segment is expected to grow faster during the forecast period.

By product type, the waterproof paints segment held the highest market share in 2019, accounting for more than one-third of the global waterproofing products market revenue and is likely to retain its dominance during the forecast period, as waterproof paints are specialized coatings designed to prevent water penetration and protect surfaces from moisture damage. These paints typically contain water-resistant additives such as latex or acrylic polymers, creating a durable barrier that repels water. Widely used in waterproofing products, such as for exterior walls, roofs, and basements, waterproof paints safeguard structures against leaks and dampness. Their versatile application extends to bathrooms and kitchens, offering an effective solution to combat water exposure and humidity. The formulation of waterproof paints ensures longevity and resilience, providing an essential tool in maintaining the structural integrity of buildings while simultaneously enhancing their aesthetic appeal.

However, the polymer waterproof sheets segment is projected to attain the highest CAGR of 4.3% from 2023 to 2033. This can be attributed to the fact polymer waterproof sheets are impermeable materials composed of synthetic polymers such as polyvinyl chloride (PVC) or thermoplastic polyolefin (TPO), designed for effective waterproofing solutions. These sheets exhibit exceptional durability, flexibility, and resistance to weathering, making them ideal for various construction applications. They are commonly used in roofing, basements, and foundation waterproofing. Polymer waterproof sheets provide a seamless barrier against water penetration, preventing leaks and protecting structures from water damage. Their versatility and ease of installation make them a popular choice in the construction industry, ensuring long-lasting and reliable waterproofing solutions for a range of architectural projects.

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The floors and basements segment is expected to lead the trial by 2033.

Based on application, the roofing and walls segment held the highest market share in 2019, accounting for more than one-fourth of the global waterproofing products market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that waterproofing products play a crucial role in enhancing the longevity and structural integrity of roofs and walls. In roofing applications, these products create a protective barrier against moisture, preventing leaks, and water damage. They are instrumental in safeguarding buildings from harsh weather conditions, including rain and snow. In addition, waterproofing solutions for walls act as a defense against water ingress, mitigating the risk of mold growth and structural deterioration. By forming a resilient seal, these products ensure a watertight envelope for both, roofs and walls, contributing to the overall durability and sustainability of structures while minimizing maintenance costs over time.

However, the floors and basements segment is projected to attain the highest CAGR of 4.4% from 2023 to 2033. This can be attributed to the fact that waterproofing products play a crucial role in safeguarding floors and basements from moisture-related damages. When applied to floors, these products create a protective barrier, preventing water seepage and enhancing durability. In basements, where water ingress is a common issue, waterproofing solutions form a reliable defense against leaks and dampness, mitigating the risk of structural damage and mold growth. By sealing pores and cracks, these products ensure a watertight environment, enhancing the longevity of flooring materials and preserving the integrity of basement structures. Whether in residential or commercial settings, the application of waterproofing products is indispensable for maintaining the longevity and functionality of floors and basements.

Asia-Pacific to maintain its dominance by 2033.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2019, accounting for more than two-fifths of the global Waterproofing Products market revenue and is expected to rule the roost in terms of revenue during the forecast period. The waterproofing products market -Pacific region is experiencing robust growth driven by rapid urbanization, infrastructure development, and increase in awareness about construction quality. The demand for waterproofing solutions has surged across residential, commercial, and industrial sectors, fueled by a need for effective protection against water damage. Developing countries such as China, India, and Japan are witnessing a significant uptick in construction activities, further propelling the market. As extreme weather events become more prevalent, there is a heightened emphasis on durable and reliable waterproofing solutions. This trend is likely to sustain the momentum of the waterproofing products market in the Asia-Pacific region.

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Players: -

HENRY COMPANY
GAF.
SOPREMA
SIKA AG
CARLISLE COMPANIES INC.
GCP APPLIED TECHNOLOGIES INC.
RPM INTERNATIONAL INC.
HOLCIM
BASF SE
DOW

The report provides a detailed analysis of these key players in the global Waterproofing Products market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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