Paris, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Fact.MR’s latest report on the waterproofing membranes market provides a 10-year forecast through 2021 & beyond. The report further explicates crucial dynamics such as drivers, challenges, and opportunities shaping the market. To present the information in a vivid way, the report was segmented into application, end use, and region.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global waterproofing membranes market is expected to be valued at US$ 55 Billion in 2031. The market is likely to exhibit robust growth at a CAGR of 8% during the forecast period (2021-2031).
Rising construction activities is driving the demand for waterproofing membranes worldwide. Additionally, over the last few years, the market has expanded as a result of increasing demand for residential spaces and surging government initiatives to encourage the use of waterproofing membranes in the construction sector.
Besides, ongoing infrastructural development and exponential population expansion are some of the other factors that are set to push the need for more residential and commercial buildings, consequently fueling the market for waterproofing membranes.
The market for waterproofing membranes will be positively impacted by rising government expenditure on commercial and public infrastructure projects, including highways, power plants, water treatment facilities, airports, bridges, hospitals, and schools. Adoption of innovative materials like geomembranes and growing consumer awareness regarding the benefits of these products are predicted to further boost demand in the market in the next ten years.
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In the Middle East and Asia Pacific, there has been an increasing demand for waterproofing membranes for use in wall and roofing applications. Expansion of commercial infrastructure projects in these regions is mainly attributed to growth.
In terms of both value and volume, Asia Pacific is predicted to witness the quickest growth rate in the waterproofing membranes market during the projected period. Demand in the region is primarily emerging from China and India amid rising use of sheet membranes and liquid-applied membranes by governments.
Based on application, the sheet waterproofing membranes category is projected to remain at the forefront owing to rising number of housing and building projects across the globe. Additionally, sheet membranes provide various benefits, including resistance to precipitation & UV rays and ability to support enormous loads. Expansion of the market will also be greatly aided by the recyclable nature of sheet-based membranes.
Key Takeaways:
- North America continues to lead the waterproofing membranes market, accounting for over 1/4th of the total market share.
- East Asia and South Asia & Oceania are anticipated to showcase remarkable growth at 9% CAGR during the evaluation period.
- By end use, the roofing segment held a waterproofing membranes market share of nearly 30% in 2021.
- Based on application, the liquid category is expected to surge by more than 2x in the assessment period.
Growth Drivers:
- Rising inclination towards prolonging the shelf life of paint jobs on infrastructures is set to augment sales of waterproofing membranes.
- Growing emphasis on water conservation and wastewater treatment worldwide is projected to push the demand for waterproofing membranes.
Restraints:
- Use of waterproofing membranes in the spray form can be dangerous for workers as these chemicals contain fluorinated compounds.
- Presence of various diluents and solvents in waterproofing membranes can harm the environment by releasing volatile organic compounds, which may hamper growth.
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Competitive Landscape:
The global waterproofing membranes market is highly fragmented, with a significant number of small and medium-sized manufacturers likely to hold lion’s share. These companies are also investing extensively in research and development activities, especially to launch eco-friendly products. They are also adopting various prominent strategies, including expansion of product portfolios, as well as mergers and acquisitions.
For instance,
- In April 2022, Pidilite Industries Limited collaborated with GCP Applied Technologies Inc., a global leader in construction goods, to deliver high-performance polyurethane waterproofing solutions for demanding sites that are exposed to high-temperature variation and water tables under the Dr. Fixit brand.
- In March 2020, in Sarnen, Switzerland, Sika launched a new production plant for its SikaProof structural waterproofing membrane. The company is aiming to serve a market that is expanding quickly, as well as trying to surge production efficiency.
- In February 2019, Tremco introduced a brand-new product under the name POWERply Endure Membranes. When combined with POWERply Endure BIO Adhesive, these membranes may be put in a wide range of hot and cold adhesives to create extraordinarily robust, waterproof roofs.
Key Companies Profiled by Fact.MR
- BASF SE
- Dow Chemical Company
- Pidilite Industries Ltd.
- Bayer Material Science AG
- Saint-Gobain Weber GmbH
- Paul Bauder GmbH & Co. KG
- Sika AG
- GAF Materials Corporation
- Fosroc Ltd.
- CICO Technologies Limited
- Alchimica Building Chemicals
- Maris Polymers
- Isomat S.A.
More Valuable Insights on Waterproofing Membranes Market
In the latest study, Fact.MR offers a detailed study on global waterproofing membranes market for the forecast period of 2021 to 2031. This study also highlights key drivers promoting the sales of waterproofing membranes through detailed segmentation as follows:
By Application:
- Liquid Applied Waterproofing Membranes
- Cementitious
- Bituminous
- Polyurethane
- Acrylic
- Other
- Sheet Waterproofing Membranes
- Bituminous
- Polyvinyl Chloride (PVC)
- Ethylene Propylene Diene Monomer (EPDM)
- Other
By End Use:
- Roofing
- Walls
- Building Structures
- Tunnels & Landfills
- Other End Uses
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Key Questions Covered in the Waterproofing Membranes Market Report
- What is the projected value of the waterproofing membranes market in 2021?
- At what rate will the global waterproofing membranes market grow until 2031?
- Which are the factors hampering the growth in the waterproofing membranes market?
- Which region is expected to lead in the global waterproofing membranes market during 2021-2031?
- Which are the factors driving the waterproofing membranes market during the forecast period?
- What is the expected market value of the waterproofing membranes market during the forecast period?
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