The global waterproofing membranes market size is expected to reach USD 34.61 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to grow at a CAGR of 6.4% from 2021 to 2028. The growing advancement in infrastructure and construction activities, coupled with a rise in demand for wastewater and water management, is expected to drive the market.
Adoption of wastewater techniques for water conservation and reuse is increasing owing to the rising demand for portable water resources across the globe. In addition, increasing government support to promote and adopt a wide array of waste management and water treatment initiatives is expected to boost the demand for the product during the forecast period.
Biomembranes are expected to witness a high adoption trend in the coming future owing to the increasing product demand in green building construction. In addition, government support to replace old buildings with new ones is opening new growth avenues for the construction industry, in turn, adding growth to the overall market.
The market is highly dependent upon the dynamics of the raw material supply chain. Although all types of products including cementitious, bituminous, and polyurethane are used for manufacturing waterproofing membranes, cementitious liquid applied membrane and bituminous sheet membranes are the most commonly used waterproofing membranes in the market.
The industry exhibits several mature players controlling a significant market share. However, increasing competition from a large number of small and local manufacturers from the Asia Pacific region is expected to boost the market competition. The market players put high stress on using sustainable raw materials to ensure an environmentally friendly image to their clients.
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Waterproofing Membranes Market Report Highlights
- The liquid applied membranes segment is expected to witness a CAGR of 7.3% over the forecast period, on account of its thermal-reflective properties for any exterior surface application
- The polyurethane liquid applied waterproofing membrane segment is expected to witness the fastest CAGR of 8.8% in terms of revenue during the forecast period, owing to seamless finish and easy and fast installation procedure
- The roofing application segment accounted for 2,281.1 million square meters in 2021, owing to its high exposure to changing climatic conditions and leakages across residential, commercial, and industrial buildings
- In Asia Pacific, the market is projected to witness the fastest CAGR of 7.8% in terms of revenue over the forecast period, owing to increasing investment in residential and commercial construction due to rapid industrialization and growing population
- The majority of the manufacturers have started emphasizing sustainable and corrosive protective raw materials for producing waterproofing membranes to increase their market presence. In addition, growing infrastructure in the developing markets of China, India, Brazil, and others are adding rapid growth to the construction sector, thereby adding growth prospects for the market
Key Companies & Market Share Insights
The market has been characterized by integration through raw material procurement and waterproofing membrane manufacturing. The companies through mergers and acquisitions, capacity expansion, partnerships, and others are trying to increase their sales to facilitate the respective market across the globe. A large set of companies are involved in waterproofing membrane manufacturing which makes the market highly competitive. Major companies operate their business through a dedicated distribution network in order to differentiate themselves in the value chain and against the competitors. Some of the prominent players in the waterproofing membranes market include: BASF SEKemper System America, Inc. Paul Bauder GmbH & Co. KGCICO Technologies Ltd.Fosroc LtdGAF Materials CorporationAlchimica Building ChemicalsMaris PolymersIsomat S.A.
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