Selbyville, Delaware, April 22, 2021 (GLOBE NEWSWIRE) -- According to the report published by Global Market Insights Inc., the global Waterproofing Membranes Market size was estimated at $8.5 billion in 2020 and is slated to surpass $13.5 billion by 2027, registering a CAGR of 6.5% from 2021 to 2027. The report provides a comprehensive analysis of the market size & estimations, drivers & opportunities, major investment pockets, competitive scenario, wavering market trends, and top winning strategies.
Increasing consumers awareness related to various advantages of waterproofing membranes should create various opportunities for market growth. Waterproofing membranes have a huge market opportunity on account of the cost-effectiveness and flexibility properties, making them ideally suitable for applications in water and waste management systems.
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Polyurethane polymer membranes are projected to witness a CAGR growth of over 8% over the projected timeframe. Polyurethane liquid membrane having key properties such as low cost, water-insoluble particle, and easy application may drive the waterproofing membranes market share. These membranes are well-suited for parking decks, roofs, wet areas, pedestrian decks, decorative waterproofing, and water tanks. The products offer seamless finish, ease of installation, weather & UV resistance, durability, wear-resistance and resistance to battery acid, alkaline cleaners & fuels which is projected to created significant market opportunities.
The sheet membrane segment accounted for over USD 2.4 billion in 2020 and projected to witness significant growth owing to its low cost, minimal maintenance, and enhanced safety properties. The market demand for thermoplastic polyolefin (TPO) polymer waterproofing membrane is increasing globally growing at a CAGR of around 7% as it does not contain any toxic or hazardous ingredients which makes them environment-friendly in nature
The building structures application segment is projected to witness a CAGR growth of over 7% during the projected timeframe owing to increasing application scope in Increasing application in parking structures, patios, and basements. Protecting structures from climatic conditions and improving building shelf life should drive the waterproofing membranes market growth.
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Europe, followed by Asia-Pacific, to maintain its lead position by 2027:
Europe waterproofing membrane business accounted for over USD 9.5 billion in 2020. Growing up-gradation of underground structures in Germany and several other European countries to stimulate waterproofing membranes demand from the region. On the other hand, Asia Pacific accounted for over 20% market share in 2020 owing to rising investment in the infrastructure industry in the Asia Pacific along with growing urbanization. The expansion of the manufacturing industry in the Asia Pacific has boosted water treatment as well as wastewater treatment activities which is then projected to contribute as a major factor for waterproofing membrane market growth.
In addition, growing requirements for wastewater treatment from the power and oil & gas industry in North America is projected to boost the market growth. These waterproofing membranes find usage in a range of water treatment applications such as spillways, sewers, manholes, scraper blades, treatment & settlement tanks, and inlets which should augment the waterproofing membranes market share.
Leading market players:
Notable market players analyzed in the waterproofing membranes industry report include BASF, Dow Chemical, Johns Manville, Silk AG, Covestro, DuPont, Pidilite, Fosroc, W.R. Meadows, Synergies, CICO Technologies, Soprema Group, Fairmate Chemicals, Cangzhou Jiansheng Building Waterproof Material. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.