Waterproofing Membrane Market

Rapid urbanization, economic growth, and bolstering infrastructural projects and efficiency and cost-effectiveness boosting sales of waterproofing membranes to boost market growth

Refurbishment of existing infrastructure is a driving force behind the increasing demand for waterproofing membranes. Waterproofing membranes are applied in a variety of infrastructures such as industrial, residential, and government buildings. Prominence in water conservation and wastewater treatment from the government is expected to further boost the demand for waterproofing membranes in the near future. Waterproofing of walls, tunnels & landfills, roofs are anticipated to propel the waterproofing membrane market. These membranes can withstand extreme climatic conditions, making this an ideal solution for the insulation of mining tunnels worldwide.

A rise in infrastructure spending includes the creation of a huge demand for private and public sectors' infrastructural developments, such as power stations, electricity grids, water supply and treatment plants, roads, railways, airports, bridges, telecommunications networks, schools, and hospitals. The American Society of Civil Engineers (ASCE) found that the nation’s infrastructure averaged a “C-,” up from a “D+” in 2017 and the highest grade in twenty years.

Rapid urbanization is the major driver of infrastructure spending. The building & construction industry needs high-performance materials that are strong, lightweight, durable, and versatile, and have high performance capabilities. The quality and performance of building materials need to be extremely consistent, pushing the demand for waterproofing membranes for infrastructural development. The population of North America was around 367,553,264 in 2020, with European Union having a 447,801,418 population. The majority of the population resides in developed countries with an increasing demand for residential housing and urban infrastructure.

According to the United Nations, the North American and Europe population is expected to increase by ~2% by 2050, further necessitating the construction of housing, commercial hubs, roads, and waste & water management facilities.

There is a great need to improve and improve the quality of infrastructure, especially in Russia and Ukraine, due to the war crisis. The North American region, largely represented by the US, the development of emerging infrastructure is an important factor driving market growth in developed regions. Industrial development and rapid construction drive the sale of waterproofing membranes. In addition, snowfall in the region adds to water leaks and may damage buildings. This has had a positive impact on the sale of waterproof membranes.

Thus, rapid urbanization, economic growth, bolstering infrastructural projects, and efficiency and cost-effectiveness boosting sales of waterproofing membranes driving the growth of the Waterproofing Membrane market revenue.

The Global Waterproofing Membrane Market Industry is experiencing growth driven by an increase in construction activities worldwide. Urbanization and infrastructure development are leading to a surge in demand for waterproofing solutions in residential, commercial, and industrial projects. For instance, the global construction market is projected to reach 25.7 USD Billion in 2024, indicating a robust need for effective waterproofing membranes to protect structures from water damage. This trend is particularly evident in regions with high rainfall and flooding risks, where waterproofing membranes are essential for ensuring the longevity and durability of buildings.

By Region, the study segments the market into North America, Europe, Asia-Pacific, Latin America, Middle east & South Africa. Asia-Pacific Waterproofing Membrane dominating market accounted for USD 6.85 billion in 2021 and is expected to exhibit an 6.71 % CAGR during the study period. This is attributed to the expanding usage of Waterproofing membranes including wet rooms, roofs, water, sewage treatment plants, retaining walls, building foundations, and tunnels in the region.

According to the Bureau of Economic Analysis, the total value added by the construction industry in the first three quarters of 2022 in the United States was around USD 2,980 billion, roughly 5% higher than the previous year for the same period.

Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: WATERPROOFING MEMBRANE MARKET SHARE BY REGION 2021 (%)Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Waterproofing Membrane market accounts for the second-largest market share due to the growing demand for the product from various applications, including the styrene industry. Further, the Germany Waterproofing Membrane market held the largest market share, and the UK Waterproofing Membrane market was the fastest growing market in the European region.

The Asia-Pacific Waterproofing Membrane Market is expected to grow at a CAGR of 6.12 % from 2022 to 2030. This is because of the region's increasing usage of Waterproofing Membrane in construction, as well as the expanding demand for Waterproofing Membrane from the waste management and tunnel liners in developing nations like China and India. Moreover, China Waterproofing Membrane market held the largest market share, and the India Waterproofing Membrane market was the fastest growing market in the Asia-Pacific region.

For instance, India Waterproofing Membrane market is the favored destination for Waterproofing Membrane manufacturers due to the infrastructure projects. On the other hand, Japan is famous for the civil engineering industry. Hence, Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2022–2030.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Waterproofing Membrane market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Waterproofing Membrane industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the Waterproofing Membrane industry to benefit clients and expand the Waterproofing Membrane market sector is to manufacture locally to reduce operating costs. In recent years, Waterproofing Membrane has provided some of the most significant benefits.

BASF SE (Germany) is one of the largest chemical producers in the world. The company operates through chemicals, performance products, functional materials and solutions, agricultural solutions, etc. However, as of January 2019, the company has divided its business segments into six: materials, industrial solutions, chemicals, surface technologies, agricultural solutions, and nutrition & care. The company's product portfolio offers diesel exhaust fluid under the intermediates subdivision of the chemicals segment. It operates through 12 divisions that manage 54 and regional business units and develop strategies for 86 strategic businesses.

BASF marks its presence in 80 countries and operates through six Verbund sites, which interlink the working of production plants, energy flows, and infrastructure in different regions. BASF primarily operates in Europe and has an active presence in the Americas, Asia-Pacific, and the Middle East & Africa. In January 2020, BASF had introduced an innovative waterproofing membrane, MasterSeal 730 UVS in Asia, to expand its versatile waterproofing portfolio under its Master Builders Solutions brand. MasterSeal 730 UVS is a pre-applied, high-density polyethylene (HDPE) sheet waterproofing membrane treated with a unique pressure-sensitive adhesive and protective coating to enable good adhesion.

Also, Sika AG (Switzerland) is a leader in specialty chemicals which is involved in the development and selling of products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry across the globe. The company has 190 manufacturing plants with several R&D facilities. It has operations in Asia-Pacific, the Americas (North & Latin), Europe, and Africa, spanning over 101 countries. Some of the key brands for adhesives include Sikaflex, SIkabond, SikaForce, SIkaSeal, and Sikasil. The company offers waterproofing membrane under construction solutions segment.