A new study by Fact.MR on the global waterproofing membranes market reveals that the segment is expected to register robust growth over the next decade driven by strong demand from residential, commercial and government sectors.
The surging demand for waterproofing membranes during the forecast period (2019 – 2029) will be driven by governmental focus worldwide, especially in developing countries, on water conservation and wastewater treatment infrastructure; repair and renovation of existing infrastructure in developed countries; waterproofing of roofs, walls, tunnels and landfills; and use in mining tunnels around the world, thanks to the performance and adaptability of waterproofing membranes in extreme environments.
Waterproofing membranes are utilised across the board in a variety of infrastructure projects, with roofing applications accounting for a market share of more than 30 percent while walls and building structures collectively account for more than half of the total market share on the back of renovation and upgradation of existing water management systems.
Building structures will drive the dexterous growth rate of more than 9 percent throughout the forecast period. The application of waterproofing membranes in tunnels and landfills is expected to have a robust growth rate of over 8 percent during the same period.
On a global scale, North America will maintain a significant lead, capturing nearly a quarter of the total market share while South Asia, Oceania and East Asia offer remunerative opportunities with impressive growth rates of over 9 percent respectively.
“Expensive maintenance costs of low-grade waterproofing systems will push stakeholders to adopt advanced waterproofing membranes. The ease of installation and maintenance of waterproofing membranes will act as a driving factor during the forecast period.
Owing to the versatility of its applications, liquid-applied waterproofing will continue to generate revenue for market players,” says a Fact.MR analyst.
Major market players that lead product innovation and business strategy trends include BASF SE, Dow Chemical Company, Pidilite Industries Ltd., Bayer MaterialScience 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, and Isomat S.A.