The global waterproofing membranes market was valued at USD 21.19 billion in 2020 and is expected to grow at a CAGR of 6.3% during the forecast period. Rising urbanization and industrialization in developing economies and economic growth are vital factors that drive the growth of the market. Furthermore, rising infrastructure investments are pushing up demand for waterproofing membranes.
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The increasing market for waterproofing membranes from waste and water management sectors, combined with the increased development of water conservation facilities, is anticipated to fuel the demand growth for waterproofing membranes.
Water and sewage treatment facilities, wet spaces, retaining walls, floors, tunnels, and building foundations are a few areas where waterproofing membranes are used. The construction of energy-efficient buildings to meet strict government policies and the exponential rise of the commercial construction sector are expected to drive the growth of the market for waterproofing membranes.
The waterproofing membranes market will be mainly driven by fast economic development and rapid urbanization across the globe. Many developing countries are pumping billions of dollars to improve the infrastructure such as roads and tunnels that is expected to further accelerate the growth of the global market for waterproofing membranes during the forecast period.
The improved economic situation in developing countries has led to the increased urbanization in the past few decades. The government invests hugely in developing roads, airports, hospitals, bridges, and many other infrastructural projects. The population is also increasing across the globe, which will lead to the development of many residential buildings.
Waterproofing membranes are gaining prominence in sustainable construction projects such as green buildings and roofs, and many players in the market are trying to get green accreditation for their waterproofing membranes. Green buildings are environmentally responsible and energy-efficient, and waterproofing is necessary to build these structures because they provide enhanced protection from water runoff and weather conditions.
Green roofs are effective for stormwater runoff. Green buildings and green roofs are gaining popularity in European countries and the US. This will help the waterproofing membranes market to grow in the coming years.
Many new waterproofing membranes are entering the market due to their increased demand. In September 2020, GHS Holdings and Alexa Srl launched the HDry brand for the North America market. It is an advanced waterproofing outdoor product through direct (3D) lamination of waterproof breathable membranes.
The market is primarily segmented on the basis of product, application, and region.
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The liquid applied waterproofing membrane segment dominated the market and generated the highest revenue in 2020, owing to the increasing understanding of the product's benefits, like the ease of installation and cost-effectiveness. Furthermore, as a global infrastructure for water management and treatment improves, the market for liquid-applied is expected to increase in the coming years.
The bituminous liquid applied segment is expected to expand at a high growth rate over the forecasted era. This is due to their distinct characteristics, including increased flow resistance at extreme temperatures, aging, UV radiation, high moisture resistance, and the potential to expand product stability at low temperatures.
Due to advantages such as UV radiation and precipitation resistance, polyvinyl chloride (PVC) waterproofing sheets are expected to expand significantly over the forecast period. Furthermore, the product's potential to sustain heavy loads is anticipated to provide market growth opportunities.
The roofing application dominated the market and generated the highest revenue in 2020. This is due to its increasing use in residential house buildings in the Asia Pacific region. Also, the roofing segment is anticipated to drive by demand for sheet membranes for roofs due to increased exposure to atmospheric moisture and rainwater over the forecast period.
Over the projected timeframe, the building structures application segment is projected to rise at the fastest market share. The growth is mainly attributed to its widespread use in construction to increase shelf life and durability at various temperatures. Furthermore, the growing use of sheet membranes for building flooring applications is supposed to provide growth opportunities for the market.
Landfills and tunnels are projected to grow heavily during the projected period due to a rise in the need for tunnel cleaning methods. Upsurge in demand for waterproofing membranes in emerging economies due to increased industrial activities resulting in an increased volume of waste is projected to drive the market for waterproofing membranes.
The Asia Pacific is expected to be the largest region for the global waterproofing sheets market during the forecast period due to rapid urbanization and increased government spending on infrastructures such as in China and India. China is undertaking some of the biggest infrastructural projects in the world.
The world population is around 7.9 billion in 2021, and the Asia Pacific region alone accounts for nearly 60% of the global population. China, with 1.41 billion people, and India, with 1.39 billion people, are the two largest countries by population. Both the countries are the fastest-growing economies in the world, leading to huge urbanization of cities.
China is investing significantly in infrastructural projects in its country and other countries to improve its connectivity and business prospects. It has planned to invest USD 4–8 trillion in many infrastructural projects in the coming years. India is also investing USD 75 billion to develop its road infrastructure and is building new airports in major cities.
The Indian government, in 2021, announced USD 3.5 billion in funds to builders to complete the stalled residential projects in the country. Similarly, in countries like Brazil and South Africa, there is rapid urbanization and development, which will lead to the growth of the market as these membranes will increase the durability and quality of infrastructure.
North America is expected to significantly contribute to the growth of the global waterproofing sheets market during the forecast period owing to new environmental practices. Most of these countries in the region are highly developed economies. Hence, countries in this region are constantly looking to improve their infrastructure facilities. Furthermore, growing investment in warehouse building for the retail, healthcare, and automotive industries, all of which need waterproofing solutions, is boosting industry growth.
The companies are developing new products by investing in R&D to overcome certain limitations associated with the current products, such as toxicity and VOC content. The key industry players are looking to launch their products in developing economies to improve their revenues.
Some of the major players operating in the industry include Bayer MaterialScience AG, Isomat S.A., Saint-Gobain Weber GmbH, Maris Polymers, Alchimica Building Chemicals, CICO Technologies Ltd., Fosroc Ltd., GAF Materials Corporation, DuPont, Dow Chemical Company, Kemper System America, Inc., Paul Bauder GmbH & Co. KG, BASF SE, Pidilite Industries Ltd., and Sika AG.
Market size value in 2020
USD 21.19 billion
Revenue forecast in 2028
USD 30.91 billion
6.3% from 2021 - 2028
2016 - 2019
2021 - 2028
Revenue in USD million/billion and CAGR from 2021 to 2028
By Product, By Application, By Region
North America Europe Asia Pacific Latin America; Middle East & Africa
Bayer MaterialScience AG, Isomat S.A., Saint-Gobain Weber GmbH, Maris Polymers, Alchimica Building Chemicals, CICO Technologies Ltd., Fosroc Ltd., GAF Materials Corporation, DuPont, Dow Chemical Company, Kemper System America, Inc., Paul Bauder GmbH & Co. KG, BASF SE, Pidilite Industries Ltd., Sika AG