The global waterproofing membranes market size is estimated at USD 33.5 billion in 2020 and is projected to reach USD 38.8 billion by 2025, at a CAGR of 5.4%. The growing demand for waterproofing membranes is due to the economic development, increasing urbanization and industrialization in emerging econmoies. Additionally, increasing investments to build infrastrcture is also driving the consumption of waterproofing membranes.
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Waterproofing membranes have some disadvantages, such as toxicity and VOC content. Manufacturers such as Sika, Fosroc, and Tremco provide and have also invested in R&D of solutions, which have minimal impact on the environment. Manufacturers are increasingly accrediting their products with green certification for use in sustainable construction projects that include green roofs and green buildings. Green roofs are roof structures of any building that are completely or partially covered with vegetation. Green roofs offer a reduction in energy costs, urban heat island effect, and stormwater runoff, and the removal of harmful air particles. Green buildings, on the other hand, are buildings that are energy-efficient and environmentally responsible throughout a building’s life cycle. Waterproofing is important for these building structures as they provide efficient protection from water runoff and weather conditions, and also provide energy efficiency. In countries, such as Germany and the US, green buildings are witnessing high growth owing to regulations pertaining to emissions from buildings, and also due to the positive impact of these establishments.
Building structures are areas excluding roofs and walls such as balconies, basements, foundations, retaining walls, storage rooms, belowground constructions, and others. Building structures are often exposed to stresses such as water exposure, water stresses, groundwater chemical exposures, unequal static forces, temperature variations, biological influences, and others. Waterproofing of these structures provide effective and long term protection form these exposures and ensure efficient protection of building structures.
The waterproofing membranes market in APAC is projected to register the highest CAGR during the forecast period. The building structures market in APAC is driven by the growing construction industry, increased consumer spending, and strong economic growth.
The recent COVID-19 pandemic is expected to impact the global construction industry. COVID-19 led the construction industry into an unknown operating environment, globally. Government restrictions on the number of people that can gather at one particular place, severely impacted the industry. E.g., the US construction industry relies heavily on imports for materials such as steel, copper, aluminum, stone, and fixtures, especially from China. Logistical constraints, manpower shortages, and government restrictions have forced many of these suppliers of raw materials to close down, hence, disrupting construction activities in the US. Similarly, economies such as China, India, and others are also facing the brunt of the Covid-19 pandemic.
The key players in the waterproofing membranes market include Sika (Switzerland), Tremco (US), BASF (Germany), Soprema (France), GCP applied technologies (US), Fosroc (UK), Mapei (Italy), Carlisle Construction Company (US), Johns Manville (US), and Renolit (Germany). These players have established a strong foothold in the market by adopting strategies, such as expansions, mergers & acquisitions, agreements & partnerships, and new product launches.
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