Waterproofing Membrane Market Size

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.

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 Market 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.