Waterproofing Membranes Market with Size, Share and Growth estimated to reach up to USD 40.19 Billion by 2022
The Waterproofing Membranes Market is projected to reach USD 40.19 Billion by 2022, at a CAGR of 9.3%.
The waterproofing membranes market is growing at a rapid pace. This growth is attributed to the growing building & construction industry in most of the regions, such as Asia-Pacific, Middle East & Africa, and South America. These areas are witnessing an increasing demand for waterproofing membranes due to increasing governmental investments on infrastructure developments in majority of the emerging countries of these regions. In addition, increasing waste & water management activities in these countries have also triggered the demand for waterproofing globally.
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Thermoplastic olefin (TPO) waterproofing membranes is the fastest-growing commercial roofing membrane segment. These membranes have garnered industry wide acceptance for their performance and installation advantages at an economical price. Some other benefits of TPO include its recyclability, durability, flexibility, low installation cost, less labor requirement, and exceptional heat resistant properties suitable for energy efficient roofing systems.
Roofing & walls is the biggest waterproofing membrane application. This is mainly due to the increased protection requirement from moisture and cracks in ceilings, roofing, and walls, along with an increased need for repair and maintenance of waterproofing membranes, thereby driving its demand during the forecast period. The roofing & walls application of waterproofing membranes offers a wide scope to increase the consumption of waterproofing membranes globally.
Key companies dominated in waterproofing membranes market includes Carlisle Companies Inc. (U.S.), Firestone Building Products Company, LLC (U.S.), Soprema Group (France), GSE Environmental (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), Johns Manville (U.S.), Sika AG (Switzerland), and GAF Materials Corporation (U.S.)
Drivers & Opportunities in global industry:
- Cost-Effectiveness and Efficiency of Waterproofing Membranes
- Supportive Government Policies Related to Public Infrastructure Growth Across the Globe
- Growing Population That is Leading to Increased Residential Construction Projects is Expected to Boost the Demand in Developing Countries
- Increasing Global Demand for Waterproofing Membranes in Mining Applications
- Rising Regulatory Standard is Fueling Growth
- Booming Construction Industry in Developing Nations
- Increasing Necessity for Water Management Activities in Asia-Pacific
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