The size of the world market for waterproofing membranes was estimated at USD 34.9 billion in 2021 and is projected to increase at a CAGR of 6.9% from 2022 to 2028. The market is expected to rise as a result of rising demand from the waste and water management industry and expanding water conservation infrastructure construction. Wet rooms, roofs, sewage treatment facilities, retaining walls, building foundations, tunnels, and water are just a few of the places where waterproofing membranes are used. The adoption of innovative materials like geomembranes and growing consumer awareness of the benefits of the products are predicted to further boost demand for the products for the foreseeable future.
The greatest market for waterproofing membranes in North America is anticipated to be in the United States. The region is predicted to experience rapid industrialisation due to an increase in housing and construction projects, which will increase demand for sheet membrane. Additionally, a rising consumer preference for longer-lasting paint jobs on buildings is anticipated to fuel the region’s sheet membrane industry. In the upcoming years, factors including reduced manufacturing prices and increased mining activity in various places are projected to improve the product’s use. Additionally, throughout the course of the projection period, it’s probable that the market’s growing trend for wastewater management would increase product demand.
With a market share of more than 63.0% in 2021, the liquid applied membrane product category dominated the market for waterproofing membranes. The expansion can be ascribed to increased consumer awareness of the product’s benefits, namely its affordability and simplicity of installation. In addition, it is anticipated that during the upcoming time, demand for liquid applied membranes will increase due to growing worldwide infrastructure in terms of water treatment and conservation. Revenue growth for polyurethane liquid applied membrane is anticipated to be strong, increasing by 8.8% during the projection period. Its homogeneous thickness makes it simple to use in a variety of applications. Typically, these membranes are used to waterproof roofs, wet rooms, water and sewage treatment plants, stadium stands, and other structures.
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With a market share of almost 31.0% in 2021, the roofing application category dominated the market for waterproofing membranes. The expansion can be linked to its expanding use in the Asia Pacific area for the construction of residential housing. Additionally, over the next seven years, the roofing segment’s market is anticipated to be driven by demand for sheet membranes for roofs due to their high exposure to rainwater and other environmental conditions. Due to its widespread use in buildings to increase shelf life and protection from extreme temperatures, the building structure is predicted to experience a revenue growth rate of 7.6% throughout the estimated period. Additionally, the market is anticipated to expand due to the growing use of sheet membrane products for flooring applications in buildings.
In 2021, Asia Pacific had the greatest revenue share—more than 31.0%—in the waterproofing membranes market. The expansion is explained by the expansion of infrastructure and the quickening of industrialization, particularly in China and India. Additionally, the trend would make cities more congested, which will raise demand for utilities in home applications for water needs and spur market expansion. The market for waterproofing membranes in North America, which was valued at USD 5.0 billion in 2021, is anticipated to expand significantly over the next five years due to an increase in building in Mexico and Canada. The business is also expanding as a result of increased investment in warehouse development for the healthcare, retail, and automotive application industries, all of which require waterproofing solutions.
Key Organizations & Market Share Information
The market has been characterised by integration through the production of waterproofing membranes and the sourcing of raw materials. The corporations are attempting to boost their sales to support the relevant markets around the world through mergers and acquisitions, capacity expansion, partnerships, and other means. Manufacturing waterproofing membranes involves a huge number of businesses, which makes the industry extremely competitive. To set themselves apart from the competition and in the value chain, major corporations run their operations through a focused distribution network.
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The following are a few of the leading companies in the market for waterproofing membranes:
- GCP applied technologies
- Carlisle Construction Company
- Johns Manville
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa