According to a report by Grand View Research, Inc.; the global waterproofing membranes market is poised to rise to a valuation of USD 37.55 billion by the end of 2025. Waterproofing membranes find application in foundation, walls, basements, bridge decks, parking areas, tunnels, roofing, building decks, balconies, and water tank linings among others. Widening scope of applications along with rising awareness among consumers regarding the advantages of waterproofing is expected to provide a considerable push to the market during the forecast period (2017 to 2025).
The market was pegged at USD 18.52 billion in 2016. With infrastructural development gaining traction worldwide, the market is likely to tread along a healthy growth track. Infrastructural development is a vital indicator of a country’s economic growth and therefore, governments are putting special emphasis on it. Rapid growth in population and urbanization is likely to promote investments in the construction sector, especially in developing countries. Surging need for good quality and durable construction materials can drive the market. The building structures segment is estimated to post a CAGR of 9.2% in terms of revenue between 2017 and 2025.
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Preference for waterproofing membranes is rising at a significant pace owing to their low manufacturing cost and high cost-effectiveness. Increasing mining activities across the world can positively influence the market over the forecast period. Besides this, spiraling demand for water and wastewater management is anticipated to further stoke the growth of the market.
Technological advancements are promoting the development of new materials for waterproofing, which offer benefits such as high surface protection and low cost. Constant innovations in this field of liquid membranes may help the waterproofing membranes market gain tremendous momentum in coming years. For instance, in August 2017, CGC Inc. launched CGC Durock[RJ1] Brand Liquid Waterproofing Membrane, a seamless and durable polymer-based fluid application for use in residential and commercial stone and tile applications. It dries fast and provides a sealed waterproof barrier in a one-coat application, thereby allowing quick turnaround on jobsite. In 2016, liquid applied membranes held a share of 62.0% of the overall market revenue, rising at a CAGR of 8.7% during the forecast period.
In addition, rising concerns regarding environmental conservation are encouraging the development of new materials such as geomembranes that have minimum impact on the environment. Several governments are taking efforts to reduce prices of natural polymers, which may bolster the adoption of eco-friendly products. This, in turn, is estimated to augment the market for waterproofing membranes.
On the other hand, volatile prices and supply of raw materials required for the manufacturing of waterproofing membranes can adversely affect the product cost, which in turn may limit the market from realizing its utmost potential. However, the market is likely to benefit from the burgeoning use of crystalline waterproofing membranes. Their merits such as self-sealing, reduced cracking, and improved protection from corrosion are anticipated to keep demand high throughout the forecast period.
The global waterproofing membrane market has been segmented based on application, end use, and geography. On the basis of applications, the market has been bifurcated into liquid applied membranes and sheet membranes. The latter segment is poised to exhibit a CAGR of 6.9% during the same period. In terms of end-use, the market has been divided into building structures, roofing, walls, landfills and tunnels, and others. In 2016, roofing accounted for 31.1% of the overall market revenue.
From a geographical standpoint, the key segments are Asia Pacific, Central and South America, North America, Europe, and Middle East and Africa. Europe commanded a dominant share of 36.5% in 2016. The growth of the market can be attributed to growing focus on water and wastewater management and increasing investments in the construction sector, especially in Eastern Europe. Rising concerns regarding pollution are leading to increased uptake of bio-based products, which in turn is anticipated to supplement the growth of the regional market.
Asia Pacific is projected to register the highest CAGR during the forecast period. Rapid urbanization and industrialization along with high rate of infrastructural development, particularly in emerging economies such as India and China, are contributing to the growth of the region. Growing population is also expected to play a pivotal role in the development of the regional market.
Some of the prominent companies in the waterproofing membranes market are Sika AG, Pidilite Industries Ltd., BASF SE, Dow Chemical Company, and DuPont.
View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/waterproofing-membranes-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and healthcare.
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