IMARC Group’s latest report, titled “Waterproofing Membranes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global waterproofing membranes market reached a value of US$
25.7 Billion in 2022. Waterproofing membranes are manufactured from various materials, such as asphalt, polymers, and tackifiers, and may also contain mineral stabilizers. They are used to form a thin, water-tight layer laid onto a surface to avoid water leaks or damage. They can be coated on different surfaces to prevent corrosion as they assist in preventing water from deteriorating the structural integrity of the concrete. They protect structures against hydrostatic pressure and help improve their strength and safety, promote a healthier environment, and save costs on future maintenance and repair works. As a result, waterproofing membranes are extensively used in building structures, roofing, walls, tunnel liners, bridges, highways, and water and waste management.
Global Waterproofing Membranes Market Trends:
The increasing product applications in water and waste management to protect against chemical attacks or abrasion damage due to rapid water flow represents the primary factor driving the market growth. This is further supported by growing awareness among the masses regarding the effects of potential water disasters on water management programs. Moreover, there has been widespread product usage in building structures to enhance strength, flexibility, and resistance to differential movement, high temperatures, and fire. In line with this, the rising number of construction projects and housing developments, coupled with increasing infrastructural expenditures, especially in developing nations, has augmented the product demand. Besides this, the surging public and private funding for bridges, tunnels, manufacturing plants, and institutes have catalyzed market growth. Additionally, the leading players are engaging in research and development (R&D) activities to develop innovative, cost-effective, and efficient waterproofing membranes. Furthermore, the launch of thermoplastic polyolefin (TPO) roofing membranes that offer superior resistance to ozone, ultraviolet (UV), and chemical exposure has accelerated product adoption rates. Other factors, including the expanding construction industry, increasing mining activities, favorable government regulations, rising interest in green roofs, and improving water conservation infrastructure, are also providing a positive impact on the market growth. Looking forward, IMARC Group expects the market value to reach US$ 37.0 Billion by 2028, growing at a CAGR of
6.1% during the forecast period (2023-2028).
- Based on the product, the market has been bifurcated into liquid applied membranes (cementitious, bituminous, polyurethane, acrylic, and others) and sheet membranes (bituminous, polyvinyl chloride (PVC), ethylene propylene diene monomer (EPDM), and others).
- On the basis of the usage, the market has been classified as refurbishment and new construction.
- The market has been divided based on the application into roofing and walls, water and waste management, building structures, tunnel liners, and bridges and highways.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being BASF SE, Carlisle Companies Incorporated, Dow Inc., Firestone Building Products (Holcim Group), Fosroc Inc. (JMH Group), GAF Materials Corporation (Standard Industries), GCP Applied Technologies (W. R. Grace and Company), Johns Manville (Berkshire Hathaway Inc.), Mapei S.p.A, Paul Bauder GmbH & Co. KG, Renolit SE (JM Holding GmbH & Co. KGaA), Sika AG and Soprema S.A.S.
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