Chicago, June 30, 2023 (GLOBE NEWSWIRE) -- The global Waterproofing Membranes Market is estimated at USD 33.5 billion in 2020 and is projected to reach USD 38.8 billion by 2025, at a CAGR of 5.4% during the forecast period, as per the recent study by MarketsandMarkets™. The demand for waterproofing membranes is increasing, owing to the growing demand for cost-effective and efficient waterproofing membranes. The emergence of environment-friendly waterproofing membranes and green buildings is also driving the market.
Waterproofing membranes are materials that are used to prevent water ingress in any building structure. These are available in sheet form or can be liquid applied. These membranes are easy to handle, easy to apply, highly efficient, flexible, and also provide improved strength, tear resistance, weathering resistance, UV stability, and elasticity to the applied surface.
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List of Key Players in Waterproofing Membranes Market:
- Sika (Switzerland)
- Tremco (US)
- BASF (Germany)
- Soprema (France)
- GCP applied technologies (US)
- Fosroc (UK)
- Mapei (Italy)
- Carlisle Construction Company (US)
- Johns Manville (US)
- Renolit (Germany)
- Others
Drivers, Restraints, and Opportunities in Waterproofing Membranes Market:
- Driver: Urbanization, economic growth, and infrastructural developments
- Restrain: Potential health and environmental issues
- Opportunity: Rising interest in green roofs to boost demand for waterproofing membranes
- Challenge: Volatility in raw material prices
Key Findings of the Study:
- Based on usage, the waterproofing membranes market is segmented into new construction and refurbishment.
- Based on applications, the market can be segmented as building structures, roofing, walls, roadways, and water & waste management.
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Waterproofing membranes reduce the ingress of water in a building structure. Basedon type the waterproofing membranes can be segmented as liquid applied and sheet based membranes. The liquid-applied membranes segment accounts for the larger share in the global waterproofing membranes market. The demand for these membranes is rising rapidly, owing to their environment-friendly properties and easy applicability. Liquid waterproofing membranes are easy to handle and replace, and provide efficient waterproofing and longer lifespan of a building structure.
The new construction segment accounted for the larger market share in 2019. The growth can be attributed to the regulations for new construction, infrastructural developments, industrialization, and urbanization in emerging economies.
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Building structures are areas excluding roofs and walls such as balconies, basements, foundations, retaining walls, storage rooms, belowground constructions, and others. Building structures are often exposed to stresses such as water exposure, water stresses, groundwater chemical exposures, unequal static forces, temperature variations, biological influences, and others. Waterproofing of these structures provide effective and long term protection form these exposures and ensure efficient protection of building structures.
The waterproofing membranes market in APAC is projected to register the highest CAGR during the forecast period. The building structures market in APAC is driven by the growing construction industry, increased consumer spending, and strong economic growth.
The recent COVID-19 pandemic is expected to impact the global construction industry. COVID-19 led the construction industry into an unknown operating environment, globally. Government restrictions on the number of people that can gather at one particular place, severely impacted the industry. E.g., the US construction industry relies heavily on imports for materials such as steel, copper, aluminum, stone, and fixtures, especially from China. Logistical constraints, manpower shortages, and government restrictions have forced many of these suppliers of raw materials to close down, hence, disrupting construction activities in the US. Similarly, economies such as China, India, and others are also facing the brunt of the Covid-19 pandemic.
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