MARKET SUMMARY

The global waterproofing membrane market was valued at USD 21.89 billion in 2021 and it is predicted to rise at a compound annual growth rate (CAGR) of 6.36% from 2022 to 2032. Waterproofing membranes are utilized in wet rooms, roofs, water, sewage treatment facilities, retaining walls, building foundations, and tunnels. The need for waterproofing membranes is being fuelled by economic expansion, rising urbanization, and industrialization in emerging economies, as well as increased infrastructure investments. Product demand is expected to rise over the projection period, thanks to increased consumer awareness of product benefits and the adoption of new materials such as geomembranes.

A geomembrane is a synthetic membrane liner or barrier with a very low permeability that is used with any geotechnical engineering material to regulate fluid (liquid or gas) migration in a human-made project, structure, or system. Geotextiles can be impregnated with asphalt, elastomer, or polymer sprays, or as multilayered bitumen geocomposites. Waterproofing technology is purely based on the same.

“Growing Prevalence of Infrastructure Globally Fuels the Market”

Covid-19 has adversely affected the construction industry and its direct impacts have been felt severely on the waterproofing membrane. Following the end of the crisis, the market is expected to recover, and demand for waterproofing membranes has been predicted to rise. Demand for the infrastructure industry is expected to boom in the near future and thus booming the waterproofing market.

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SEGMENT OUTLOOK: 

The global waterproofing market is segmented based on type, application, and usage.

Based on type, the waterproofing membrane market is segmented into liquid-applied membranes and sheet membranes. In 2021, the liquid-applied membrane product segment dominated the waterproofing membranes market. The increase can be ascribed to increased awareness of the product's benefits, such as cost-effectiveness and convenience of installation. In addition, as a global infrastructure for water conservation and treatment improves, demand for liquid-applied membranes is likely to rise in the future years. During the projected period, revenue for polyurethane liquid applied membrane is expected to expand at a substantial rate of 8.8%. It has a consistent thickness, making it convenient to use in a variety of applications. These membranes are commonly used for roof waterproofing, moist rooms, and water & sewage systems.

Demand for bituminous liquid membranes is estimated to grow at a stable CAGR in terms of volume over the forecast period due to their unique qualities such as high resistance to weathering and aging. It improves the product's viability in terms of low-temperature flexibility, high UV resistance, and better flow resistance at high temperatures. Due to product characteristics such as UV radiation and precipitation resistance, polyvinyl chloride (PVC) membrane is predicted to acquire a significant market share in 2022 and is likely to register a significant share over the forecast period. Furthermore, the product's ability to bear big loads is projected to boost market growth possibilities.

Based on Application, the waterproofing membrane market is segmented into roofing, walls, building structures, tunnel & landfills, parking decks, and waste & water management. The roofing application category dominated the waterproofing membranes market in 2021. The increase can be linked to its increasing use in residential home construction in the Asia Pacific area. In addition, the roofing segment is predicted to be driven by demand for sheet membranes for roofs due to increased exposure to rainwater and environmental moisture over the next seven years. The building structure is predicted to increase at a revenue rate during the forecasted period, which may be ascribed to its widespread use in construction to extend shelf life and defend against extreme temperatures. In addition, the usage of sheet membrane products for flooring applications is becoming more common.

The landfill and tunnel segment is predicted to develop significantly during the projection period due to an increase in demand for cleaning methods in tunnels. The growing demand for waterproofing membranes in developing countries is likely to boost the market for waterproofing membranes. This is due to increased industrial activity, which results in more waste. Other areas where the waterproofing membrane is used include wet rooms, kitchen floors, baths, and spaces around swimming pools. Furthermore, rising awareness of long-term cost-effectiveness and risk avoidance through the application of waterproofing membranes is likely to contribute to the market's favorable expansion.

Based on Usage, the waterproofing membranes market is segmented into new construction and refurbishment. Regulations for new construction, infrastructure development, industrialization, and urbanization in emerging economies are all contributing to the expansion.

BY REGIONAL OUTLOOK:

On the basis of geography, the global waterproofing membrane market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. 

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The Asia Pacific dominated the waterproofing membranes market in 2021. The rapid industrialization and expanding infrastructural advancements, particularly in China and India, are to blame for the expansion. Furthermore, the trend would create city congestion, which will boost demand for utilities in a home application for water requirements, resulting in market growth. During the monsoon season, countries such as Japan, Vietnam, India, China, and Indonesia endure significant rains, necessitating the use of waterproofing membranes on roads and structures. Furthermore, construction activity is increasing in these countries. According to the India Brand Equity Foundation (IBEF), the Indian government plans to build 20 million homes in 2021-22 and 23 new national highways by 2025. These operations are likely to enhance demand for waterproofing membranes, which would help the region's market flourish.

The waterproofing membranes market in North America was valued at USD billion in 2021 and is predicted to grow at a substantial rate over the forecast period, owing to increased construction activity in Mexico and Canada. Furthermore, increased investment in warehouse development for the healthcare and retail industries.

Product penetration in advanced countries such as the United Kingdom, Germany, France, and others dominates product demand in Europe. Furthermore, the growing use of waste management and water conservation solutions that need liquid applied and sheet membranes in residential and commercial structures is likely to boost product demand in the region throughout the projection period. From 2022 to 2032, the demand for waterproofing membranes in Central and South America is expected to grow at a CAGR of in terms of volume. Furthermore, regional governments' investments in infrastructure projects are likely to strengthen the commercial and industrial application segment seeking waterproofing solutions, boosting market growth.

BY KEY COMPETITORS AND MARKET SHARE ANALYSIS

The market has been characterized by integration through the purchase of raw materials and the production of waterproofing membranes. Companies are attempting to expand sales through mergers and acquisitions, capacity expansion, collaborations, and other means in order to facilitate the respective market across the globe. The waterproofing membrane industry is dominated by a large number of players, making the market extremely competitive. To differentiate themselves in the value chain and against competitors, major corporations operate their businesses through a specialized distribution network.

Sika, Tremco, BASF, Soprema, GCP applied technologies, Fosroc, Mapei, Carlisle Construction Company, Johns Manville, and Renolit are among the prominent players. Between 2017 and 2021, these companies used a variety of organic and inorganic expansion strategies to expand their geographical footprint and address the rising demand for waterproofing membranes from emerging nations.

Recent Developments:

• In March 2020, Sika opened a new production plant for the SikaProof structural waterproofing membrane in Sarnen, Switzerland. This expansion will increase manufacturing efficiency and allow the company to serve a fast-rising market.
• In February 2020, Tremco introduced a new product called POWERply Endure Membranes. When partnered with POWERply Endure BIO Adhesive, these membranes can be put in a variety of hot and cold adhesives and make extremely durable, waterproof roofs.

The following are some of the major market players operating across the globe:

o   BASF SE

o   Kemper System America, Inc.

o   Paul Bauder GmbH & Co. KG

o   CICO Technologies Ltd.

o   Fosroc Ltd

o   GAF Materials Corporation

o   Alchimica Building Chemicals

o   Maris Polymers

o   Isomat

o   Sika AG

o   Carlisle Cos. Inc.

o   RPM International Inc.

o   GCP Applied Technologies Inc,

o   Firestone Building Products Company

o   LLC

o   Soprema Group

o   The Dow Chemical Company

o   Pidilite Industries Ltd

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SEGMENTS COVERED IN THE REPORT ARE AS FOLLOWS:

This report projected the revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2032. For this study, Quintile Insights has segmented the global waterproofing membrane market report based on type, application, and region:

By Type Insights: Revenue in USD Million (2017 - 2032)

• Liquid Applied Membranes

§  Cementitious

§  Bituminous

§  Polyurethane

§  Acrylic

§  Other

• Sheet Membranes

§  Bituminous

§  Polyvinyl Chloride (PVC)

§  Ethylene Propylene Diene Monomer (EPDM)

§  Other

By Application: Revenue in USD Million (2017 - 2032)

• Roofing
• Walls
• Building Structure
• Tunnel & Landfills
• Parking Deck
• Waste & Water Management

By Usage: Revenue in USD Million (2017 - 2032)

• Refurbishment
• New Construction

Regional Insights: Revenue in USD Million (2017 - 2032)

• North America (U.S., Canada)
• Europe (U.K., Germany, France, Italy, and Spain)
• Asia Pacific (Japan, China, India, Australia, South Korea, and Singapore)
• Latin America (Brazil, Mexico, Argentina, and Colombia)
• Middle East & Africa (Saudi Arabia, UAE, and South Africa)