Report Overview: Global Below-Grade Waterproofing Membranes Market
The North America below-grade waterproofing membranes market size was valued at USD 371.8 million in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 2.1% from 2021 to 2027. Increasing construction spending particularly on the development and renovation of commercial spaces is expected to drive market growth.
Below grade waterproofing membranes are witnessing rising adoption in the wastewater treatment industry on account of their ability to prevent groundwater contamination and leaching of toxic chemicals. Thus, growing environmental restrictions on the discharge of untreated wastewater from municipal and industrial sources are anticipated to boost the product demand.
The residential end-use segment in the U.S. is expected to witness substantial growth over the forecast period owing to the rising preference for single-family housing structures. Furthermore, a growing population, strong economic growth, an increase in household formation, and low mortgage rates are expected to be the key factors aiding the growth of residential construction.
A majority of the present-day waterproofing membranes are manufactured by using polymeric materials such as High-Density Polyethylene (HDPE), bitumen, Polyurethane (PU), and synthetic rubber. However, bitumen and polyurethane are by far the most common raw materials used in the waterproofing membrane production process.
Improvements in adhesive technology have enabled the market players to develop waterproofing membranes that can be directly applied to a variety of surfaces such as wood, concrete, and bricks, among others. Moreover, the use of self-adhered membranes significantly reduces the time and labor required for installation.
The dwindling number of qualified and skilled laborers is exerting considerable pressure on the overall construction industry in North America, thus affecting the overall demand for waterproofing membrane products. Additionally, the fluctuations in the prices of key polymeric raw materials are expected to have a negative impact on the market.
End-use Insights: Global Below-Grade Waterproofing Membranes Market
The infrastructure segment led North America below-grade waterproofing membranes market and accounted for more than 45.5% of the revenue share in 2019, owing to extensive product use to protect and improve the shelf life of various structures such as tunnels, bridges, and subways. Furthermore, rising investments in infrastructure development projects is expected to provide a major boost for the product demand over the forecast period 2021-2027.
Below grade, membranes are witnessing growing adoption in tunneling applications owing to their ability to protect the structure against the potential damage caused by moisture or unintentional entry of water. Furthermore, the product offers protection against the danger posed by aggressive water or soil and the effects of chemicals.
The commercial end-use segment accounted for 25.7% of the market in 2019 is expected to expand at a CAGR of 2.6% in terms of revenue over the projected period. Increasing urbanization and growing government support to develop tourist and commercial infrastructure are expected to drive the product demand in the commercial end-use.
Furthermore, the increasing employment rate coupled with the regional expansion of existing companies has led to a rising need for new office spaces, which, in turn, has resulted in increased construction activities across North America. These factors are expected to drive the spending on the refurbishment of old office buildings and support the demand for waterproofing membranes.
Regional Insights: North America Below Grade Waterproofing Membranes Market
The U.S. leads the market and accounted for over 80.4% share of total revenue in 2019, owing to the growth of residential, commercial, and industrial construction industries. In addition, the U.S. is expected to witness an increased budgetary outlay to develop and renovate the aging infrastructure projects such as bridges, tunnels, and subways.
The increasing number of service provider firms in Canada is expected to propel the demand for office spaces, thereby fueling commercial construction. The rise in commercial construction activities in the key provinces of the country is expected to increase the demand for below-grade waterproofing membranes in commercial end-user over the forecast period.
Mexico's market for below-grade waterproofing membranes is expected to expand at a CAGR of 3.0% over the forecast period on account of expanding construction industry. The rapid growth of the construction industry in the country is mainly attributed to the increasing population, fast-paced urbanization, and increased rate of migration.
The industrial sector in North America is likely to witness a significant expansion owing to the rising preference for domestic manufacturing activities. The manufacturing industry is also expected to benefit from the new policy reforms in U.S. and Mexico, thereby boosting the industrial construction and the demand for below-grade waterproofing membranes in the region.
Key Companies & Market Share Insights: North America Below Grade Waterproofing Membranes Market
The market is dynamic and competitive in nature. New product development and client outreach and expansion of the distribution network are some of the key strategies adopted by various players to strengthen their presence in the market. A large number of established manufacturers are offering customized products to the consumers Furthermore, the industry participants have developed a wide distribution network all over the region, thereby intensifying the industry rivalry. The market players strive to develop long-term relationships with waterproofing contractors to develop brand loyalty.
Key companies Profiled: North America Below Grade Waterproofing Membranes Market Report
- BASF SE
- Beijing Oriental Yuhong Waterproof Technology Co.Ltd.
- Carlisle Companies Inc.
- GCP Applied Technologies
- Henry Company.
- Jiangsu Canlon Building Materials Co. Ltd.
- Keshun Waterproof Technology Co.Ltd.
- MAPEI S.p.A.
- Minerals Technologies Inc.
- Newton WaterProofing
- RPM International Inc.
- Sika AG
- Soprema Group
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. Trusted Business Insights has segmented the North America below-grade waterproofing membranes market report on the basis of end-use and region:
Market Segmentation: Global Below-Grade Waterproofing Membranes Market
Below-Grade Waterproofing Market: by Material Type
- Rubberized Asphalt
- Other Materials
Below-Grade Waterproofing Market: by Membrane Type
- Sheet-based membrane
- Liquid-coated membrane
Below-Grade Waterproofing Market: by Position Type
- Positive Side
- Negative Side
- Blind Side
Below-Grade Waterproofing Market: by Application Type
- Fluid-Applied Waterproofing
- Fully Bonded Waterproofing
- Self-Adhered Waterproofing
- Loose-Laid Waterproofing
Below-Grade Waterproofing Market: by Cause of Leakage
- Hydrostatic Pressure
- Capillary Action
Below-Grade Waterproofing Market: by End-User Type
- Commercial Building
- Residential Building
- Public Infrastructure
- Mass Transit Systems
- Power Plants
- Water Treatment Plants
Below-Grade Waterproofing Market: by Type of Project
- New Construction
- Restorations Projects
The countries covered in the below grade waterproofing membrane market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.