Selbyville, Delaware, Nov. 03, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global Waterproofing Membrane Market value is poised to surpass USD 14.5 billion by the year 2032.
Consistent growth in the construction sector across North America will create lucrative demand for waterproofing membrane solutions. According to estimates, in 2021, the U.S. construction sector was valued at over USD 1,640 billion. Robust investment in the domain and the building of new residential spaces will drive the need for effective waterproof solutions in the US. Improper and inadequate waterproofing of walls and roofing can have some serious repercussions on the building structure. The need to meet quality standards and ensure building safety will boost the demand for advanced waterproofing membranes in the coming years.
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However, a lack of skilled workers and improper product application could impede industry growth. The installation of waterproofing membranes is labor-intensive and demands skilled applicators. Estimates suggest that poor workmanship is one of the key reasons for around 90% of all waterproofing membrane failures. Increasing consciousness about the right product for a particular surface and application could help overcome this challenge.
Polymer-modified cement segment is expected to record a 5% CAGR between 2023 to 2032. Polymer-modified cement has found key applications in green roofs as it possesses superior shear bond strength. The product helps prevent the penetration of chlorides and water into the concrete. Increasing awareness regarding the environmental benefits of green roofs along with mounting concerns regarding the negative effects of climate change will boost product deployment.
Waterproofing membrane market share from the liquid-applied membrane application was over USD 5.5 billion in 2022. Liquid-applied membranes are suitable for various roofing and waterproofing applications. For example, the membrane is used on municipal water tanks to prevent leaks. These coatings can easily be sprayed onto surfaces such as balconies and green roofs and can help extend the service life of structures.
Browse key industry insights spread across 436 pages with 424 market data tables and 55 figures & charts from the report “Waterproofing Membrane Market Size By Product (Polymers [PVC, TPO, EPDM, Polyurethane], Bitumen [SBS, APP], Polymer Modified Cement), Application (Liquid applied Membrane, Sheet Membrane), End-Use (Roofing, Walls, Building structures, Landfills & tunnels), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/waterproofing-membrane-market
Rapid curing, excellent adhesion, and compatibility with numerous surfaces are some of the key benefits of liquid-applied membranes. Shifting consumer preference toward cost-effective waterproofing membrane solutions along with increasing investments in the construction sector may fuel product demand.
Based on the application, waterproofing membrane market share from the landfills & tunnels application segment is expected to record a 6% CAGR between 2023 to 2032. Rapid industrialization and the development of road infrastructure have accelerated the need for landfills and tunnels worldwide. Waterproofing is critical to tunnel infrastructure. It ensures longer service life and prevents leakages that cause damage to the structure which can lead to longer maintenance and repair work. Strict requirements for enhanced durability and the need for waterproofing solutions that can withstand stress conditions will drive the need for effective waterproofing coatings across tunnels and landfills.
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North America waterproofing membrane market is expected to register a 6.5% CAGR from 2032 to 2032. Mounting environmental concerns have accelerated the construction of green building infrastructure across the region. The need to limit carbon footprint will encourage government authorities to introduce new initiatives to boost the develop sustainable infrastructure. Such measures will further propel the demand for eco-friendly waterproofing membranes and coatings.
Some of the leading companies in the global waterproofing membrane market include Fosroc Inc, Maris Polymers S.M.S.A, GAF Materials, Derbigum Americas Inc, MBCC Group, Sika AG, CICO Technologies Ltd, and Pidilite Industries Limited. New product launches and merger & acquisitions are some of the key strategies used by these firms to boost their business reach.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
