Waterproofing Membranes Market Growth & Trends
The global waterproofing membranes market size is likely to reach USD 40.15 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.1% from 2023 to 2030. Growing advancement in infrastructure and construction activities coupled with a rise in demand for wastewater and water management is expected to drive the market. 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, which, in turn, is adding growth to the market.
The market is highly dependent upon the dynamic of the raw material supply chain. Although all types of products including cementitious, bituminous, polyurethane, and others are used for manufacturing waterproofing membranes, cementitious liquid applied membrane and bituminous sheet membranes are the most commonly used waterproofing membrane in the market. The industry exhibits several mature players controlling the significant market share. However, increasing competition from a large number of small and local manufacturers from Asia Pacific is expected to increase 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
Waterproofing Membranes Market Report Highlights
- The liquid applied membrane product segment led the market and accounted for more than 63.9% share of the global revenue in 2022, 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 9.1% in terms of revenue during the forecast period, owing to seamless finish and easy and fast installation procedure
- The roofing application segment held the largest revenue share of 31.8% in 2022., owing to its high exposure to changing climatic conditions and leakages across residential, commercial, and industrial buildings
- Asia Pacific accounted for the largest revenue share of 32.1% in 2022., 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
