Waterproofing Membranes Market Size, Global Market Research and Industry Forecast Report, 2027 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Waterproofing Membranes Market


The global waterproofing membranes market size was estimated at USD 23.21 billion in 2019 and is expected to register a CAGR of 8.5% over the forecast period. Growing demand for residential and commercial spaces coupled with increasing investments in the development of water conservation and wastewater treatment infrastructure is anticipated to positively impact the growth.

Waterproofing membranes are used in a variety of applications, such as roofs, bathrooms, water and sewage treatment plants, building foundation and retaining walls, stadiums, parking lots, bridge decks, water tanks, and tunnels. Growing consumer awareness pertaining to the superior performance of the product is expected to further propel the product demand.

U.S. is one of the largest markets for waterproofing membranes owing to high adoption. The recovery of the U.S. construction sector coupled with the rise in the refurbishing and renovation projects is expected to drive the market growth.Furthermore, growing consumer preference for increasing lifespan of buildings is expected to boost the product demand during the forecast period.

Waterproofing membranes are witnessing an increase in adoption in water and wastewater management systems on account of their properties such as flexibility, ease of application, and cost-effectiveness. In addition, the growth of global waste and wastewater management market is projected to augment the product demand over the forecast period. Bio-based waterproofing membranes are manufactured from renewable sources and have the potential to serve as viable alternatives to their synthetic counterparts. The rising adoption of bio-based membranes is likely to open new avenues for the market in the forthcoming years.

Lack of awareness among contractors, regarding the use of the right type and quality of construction chemicals for durable structures, is likely to restrict the use of waterproof membranes in the construction industry. In addition, volatility in the principal raw material prices such as bitumen and polypropylene, is expected to retrain the market growth over the forecast period.

Application Insights of Waterproofing Membranes Market

Liquid applied membrane accounted for 62.9% of the waterproofing membrane market in terms of revenue in 2019. These membranes offer a distinct advantage over traditional waterproofing systems, particularly where seamless systems are desired, which is anticipated to provide a positive scope for market growth over the forecast period.
Polyurethane membranes have a uniform thickness leading to ease of application across industries. These membranes provide a monolithic application with no seams and therefore there are no weaknesses for cracks to form. As a result, the polyurethane liquid applied segment is expected to grow at the highest CAGR of 10.7% over the forecast period.

The bituminous membrane segment led the demand for the sheet membranes with a market share of 43.4% in terms of revenue in 2019. Bituminous sheet membranes offer high tensile strength and durability compared to other membranes which are expected to have a positive impact on the market growth over the forecast period.
PVC sheet membranes accounted for a notable market share in 2019 and is expected to register notable gains over the forecast period. Various advantages of PVC membranes such as resistance to precipitation, UV radiation, and ability to withstand heavy loads are anticipated to provide positive scope for product demand over the forecast period.

End-use Insights

The roofing end-use segment is estimated to account for the largest share in the waterproofing membranes market and is expected to grow at a CAGR of 8.7% over the forecast period. The segment growth can be attributed to a rise in residential housing construction activities in the Asia Pacific, propelled by rising population, rapid urbanization, and strong economic growth.

Sheet membranes are preferred over liquid applied membranes for roofing application, on account of its ability to cover gaps and cracks with higher effectiveness. In addition, high demand for membranes due to high prevalence of moisture and water content over roofs, is expected to drive the market growth over the forecast period.

Building structures is expected to emerge as the fastest-growing end-use segment progressing at a CAGR of 9.4% over the forecast period. In addition, increasing focus on improving the shelf life of the building and protect the structure from varying temperatures is anticipated to positively impact the product demand.

Other end-use segments of the waterproofing membrane include usage in bathrooms, kitchen floors, wet rooms, and areas surrounding the swimming pool. This segment is expected to witness considerable growth over the forecast period, on account of increasing awareness about waterproofing membranes and its benefits, such as risk mitigation and long-term cost-effectiveness.

Regional Insights of Waterproofing Membranes Market

North America region was the second-largest market for the waterproofing membranes in 2019 and is expected to grow at a CAGR of 7.6% over the forecast period. The recovery of the construction industry in the U.S. coupled with the rise in construction activities in Canada and Mexico is expected to drive the market growth over the upcoming period.

Asia Pacific region is expected to be the fastest-growing region at a CAGR of 10.5% owing to the rapid industrialization coupled with growing infrastructural developments, especially in China and India. Growing population and urbanization in emerging economies is expected to increase the construction activity, thereby propelling market growth.

Europe emerged as one of the largest market for waterproofing membranes in 2019 on account of the high level of product penetration in the United Kingdom, Germany, and France. Growing focus on water conservation and waste management is anticipated to drive the regional demand. Moreover, rising construction activities in Eastern Europe are further expected to boost the market.

The market in Brazil is expected to expand at a CAGR of 6.7 % over the forecast period. The resumption of housing subsidies program named Minha Casa Minha Vida is expected to positively impact the product demand. Additionally, the government decision to use its own land banks to develop housing projects is further boost the market.

Market Share Insights of Waterproofing Membranes Market

The market is characterized by integration through the supply of raw material supply as well as the manufacturing of waterproofing membranes. Major companies are engaged in the manufacturing of raw materials including polymers and bitumen for waterproofing membranes. Integration across numerous stages of the value chain enables the market players to maintain continuous raw material supply as well as low production costs.

The key players in the market include Sika AG; Pidilite Industries Ltd.; BASF SE; Kemper System America, Inc.; GAF Materials Corporation; Paul Bauder GmbH & Co. KG; CICO Technologies Ltd.; and Fosroc Ltd. Major companies are focusing on establishing brands in order to differentiate themselves against their competitors. For instance, BASF SE markets its products under the brand name MasterSeal.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Waterproofing Membranes Market Research Report
This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global waterproofing membranes market report based on application, end use, and region.

Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2019 - 2030)

  
Liquid Applied Membranes
  
Cementitious
  
Bituminous
  
Polyurethane
  
Acrylic
  
Other

Sheet Membranes

  
Bituminous
  
Polyvinyl Chloride (PVC)
  
Ethylene Propylene Diene Monomer (EPDM)
  
Other

End-use Outlook (Volume, Million Square Meters; Revenue, USD Million, 2019 - 2030)

  
Roofing
  
Walls
  
Building Structure
  
Tunnel & Landfills
  
Other