According to a new report by Expert Market Research titled, ‘Global Waterproofing Market Report and Forecast 2019-2024’, the global waterproofing market is projected to grow at a CAGR of 9.2% in the forecast period of 2019-2024.
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Waterproofing prevents structures from water damage by creating an impervious barrier preventing water from entering the structure. It protects against structural damage by preventing chemical, water and other harmful external elements from entering integral surfaces like roofs, walls, and foundations among other parts. Thus, waterproofing ensures the durability and longevity of a building or any other structure and reduces the repair and renovation costs. Waterproofing finds extensive application in the roofs and balconies segments as they are exposed to extreme weather conditions and other detrimental elements.
The waterproofing market is aided by a growing construction industry globally which is projected to see an 85% increase by 2030 reaching a value of USD 15.5 trillion. With a growing awareness amongst property owners, engineers and architects about the cost savings and increased efficiency as a result of waterproofing, there has been a rise in the demand for waterproofing in the market. Additionally, waterproofing also helps in increasing a building’s sustainability standards that are monitored by various agencies.
Liquid waterproofing membranes were the leading waterproofing option in 2016 due to their efficiency, ease of application and lower cost. The liquid membranes market will be further propelled by the innovations taking place within this segment. Bituminous membranes are also seeing a rising demand as they are sturdy, durable and have a high tensile strength. In December of 2018, Sika, one of the major players in the waterproofing market, reached an argument to acquire Arcon Membrane Srl, a key waterproofing and roofing manufacturer in Romania. This acquisition will not just increase Sika’s presence in Romania, but will also add to its expanding bituminous membranes portfolio.
The Asia Pacific region currently dominates the waterproofing market driven by rising demand in the construction sector as well as in the wastewater management industry. Growing urbanisation and the rising industrialisation have made India and China major players in the region. The waterproofing market is buoyed by the infrastructural growth in these countries. In India, the Make in India scheme has bolstered the construction industry with more than USD 650 billion expected to be spent on urban infrastructure over the next two decades.
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Market Analysis by Type:
- Liquid Membrane
- Bituminous Coating
- Polyurethane Membrane
- Epoxy
- Acrylic
- Cementitious Membrane
- Bituminous Membrane
- Thermoplastic Membrane (PVC, Others)
- Others
The waterproofing market is broadly divided as liquid, cementitious, bituminous and thermoplastic membranes (PVC, others), among others. Bituminous coating, polyurethane membrane, epoxy and acrylic waterproofing materials are the further subdivisions of the liquid waterproofing membranes.
Market Analysis by Application:
- Roofs & Balconies
- Parking Deck
- Tunnel Liners
- Bridges & Highways
- Others
Roofs and balconies, parking deck, tunnel liners, and bridges and highways, among others are the major sectors where waterproofing finds its maximum use.
Market Analysis by Region:
- North America
- Europe
- Asia Pacific
- LATAM
- Middle East and Africa
The global waterproofing market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa regions.
Key Findings of the Report:
- The growing construction and infrastructure sector globally is aiding the waterproofing market growth.
- The European waterproofing market is being driven by rising construction activities in countries like Russia and Poland.
- The growing focus on water and waste management sectors have led to subsequent growth in the waterproofing market in Europe.
- North America constitutes a significant market for construction and waterproofing due to the growth in the infrastructure and mining sectors.
- A growing middle class and increased government expenditure on infrastructure projects is aiding the market growth in the Latin America region.
- The decreasing production costs of liquid membranes due to innovations and R&D undertakings will further propel the waterproofing market globally.
Competitive Landscape & Supplier Analysis:
- BASF SE
- DowDuPont Inc.
- Wacker Chemie AG
- Evonik Industries AG
- Sika AG
- W.R. Grace & Co.
- Pidilite Industries Limited
- Arkema S.A.
BASF SE, DowDuPont Inc., Wacker Chemie AG, Evonik Industries AG, Sika AG, W.R. Grace & Co., Pidilite Industries Limited, and Arkema S.A. are the key players in the global waterproofing industry discussed in the report. The EMR report provides a comprehensive view of the latest developments in the competitive landscape of the global waterproofing industry including mergers and acquisitions, plant turnarounds and expansions in capacity.
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