The report "Waterproofing Membranes Market by Raw Material, Type (Liquid Applied, Sheet Based), Usage (New Construction, Refurbishment), Application (Building Structure, Roofing, Roadways, Waste & Water Management, Walls), and Region- Global Forecast to 2025", 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%
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The demand for waterproofing membranes in emerging economies, such as APAC, MEA, and South America, is increasing owing to the growth in the construction industry. The fluctuation in raw material prices is challenging the waterproofing membranes market. The demand for waterproofing membranes is rising, owing to the growing demand for cost-effective and efficient waterproofing materials. This increase in demand for environment-friendly waterproofing membranes and the construction of green buildings provide growth opportunities to the market. On the other hand, the potential health and environmental issues are the major restrain for the market.
Based on the type, the liquid-applied membranes segment is estimated to lead the overall waterproofing membranes market in 2020.
Waterproofing membranes reduce the ingress of water in a building structure. The liquid-applied membranes segment accounts for the larger share in the global waterproofing membranes market. The demand for these membranes is rising rapidly, owing to their environment-friendly properties and easy applicability. Liquid waterproofing membranes are easy to handle and replace, and provide efficient waterproofing and longer lifespan of a building structure.
Based on the usage, the new construction segment is estimated to lead the overall waterproofing membranes market in 2020.
Based on usage, the waterproofing membranes market is segmented into new construction and refurbishment. The new construction segment accounted for the larger market share in 2020. The growth can be attributed to the regulations for new construction, infrastructural developments, industrialization, and urbanization in emerging economies.
Based on application, the building structure to be the largest consumer of waterproofing membranes.
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.
Based on region, APAC is estimated to lead the waterproofing membranes market in 2020.
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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