PUBLISHER: Allied Market Research | PRODUCT CODE: 1472186
PUBLISHER: Allied Market Research | PRODUCT CODE: 1472186
The global waterproofing membrane market was valued at $31.0 billion in 2022 and is projected to reach $51.5 billion by 2032, growing at a CAGR of 5.4% from 2023 to 2032.
Waterproofing membranes are materials used to prevent the infiltration of water into structures such as buildings, bridges, and tunnels. They are typically made of rubber, plastic, or bitumen and are applied to surfaces where water ingress is a concern. The primary purpose of waterproofing membranes is to protect the underlying structure from water damage, which can lead to structural deterioration, mold growth, and other issues. They are commonly used in areas where water is expected to accumulate, such as roofs, basements, and foundations.
The Asia-Pacific region has seen a significant surge in government incentives for construction and infrastructure development, which is expected to drive the demand for waterproofing membrane market. This is due to the increase in focus on sustainable development and the need to protect buildings and infrastructure from water damage.
For instance, in June 2022, the Minister of Road Transport and Highways in India opened 15 national highway projects worth $1.7 billion (Rs. 13,585 crores) in Patna and Hajipur, Bihar. In October 2021, the Dubai government and India signed a contract in October 2021 to build infrastructure in Jammu and Kashmir, including industrial parks, IT towers, multipurpose towers, logistics centers, medical colleges, and specialized hospitals.
The construction business in China is witnessing rapid growth. China's National Bureau of Statistics reports that the country's construction production in the fourth quarter of 2022 was valued at approximately $40 billion (CNY 276 billion), a 50% increase over the previous quarter's value of $27.6 billion. The Chinese government also announced long-term goals for infrastructure development, one of which is to construct 162,000 kilometers of motorways by 2035.
In addition, the waterproofing market in India is assisted by affordable housing, which is rapidly gaining traction, with the government recognizing it as a mainstream priority. In the Union Budget 2022-23, the Indian government highlighted its commitment to providing affordable housing for the urban poor by allocating $5.8 billion (INR 48,000 crores) for the PM Aawas Yojana plan. Japan's building and construction sector experienced significant growth. In Japan, a lot of opulent apartment buildings and residential complexes are being built. For instance, Mitsubishi State is creating the highest skyscraper in Japan, with 50 opulent apartments that may bring in $43,000 in rent a month apiece. The project is under construction close to Tokyo Station, with completion anticipated in 2027.
Thus, the increase in government incentives for construction and infrastructure development in Asia-Pacific is expected to drive the growth of the market.
The demand for waterproofing membranes is expected to face challenges due to increasing competition from eco-friendly alternatives. These alternatives are gaining popularity due to their sustainability and environmental benefits, which are becoming increasingly important to consumers and businesses alike.
One of the main reasons for the growing popularity of eco-friendly alternatives is the increasing awareness of the environmental impact of traditional waterproofing materials. Traditional waterproofing membranes are often made from petroleum-based materials, which are non-renewable and can have a significant impact on the environment during production and disposal. In contrast, eco-friendly alternatives are often made from renewable materials, such as natural rubber or recycled materials, which have a lower environmental impact.
Another factor driving the demand for eco-friendly alternatives is the increasing focus on sustainability in the construction industry. Many building codes and standards now require buildings to meet certain sustainability criteria, including the use of environment-friendly materials. As a result, builders and developers are increasingly looking for waterproofing solutions that are not only effective but also environmentally friendly.
In addition, the growing popularity of eco-friendly alternatives is also driven by consumer preferences. Many consumers are now actively seeking out products that are environmentally friendly and sustainable and are willing to pay a premium for these products. This has led to an increase in demand for eco-friendly waterproofing membranes, which are seen as a more sustainable and environmentally friendly option compared to traditional materials. However, this challenge also presents an opportunity for companies in the waterproofing membrane market to innovate and develop more sustainable products, thereby meeting the growing demand for eco-friendly solutions and potentially expanding their market share. Various manufacturers are introducing sustainable and ecofriendly products, for instance, Effisus offers ProFlex , a multi-layered membrane with a high elongation capability. DRACO presents BENT 300, a bentonite membrane with a single layer. Tejas Borja offers The ECO 135.
The popularity of green roofs, also known as living roofs or eco-roofs, has been steadily increasing in recent years. This trend is driven by a growing awareness of environmental issues and a desire to create more sustainable urban environments. Green roofs are an attractive option for building owners and developers as they offer a range of benefits, including improved energy efficiency, reduced stormwater runoff, and increased biodiversity.
One of the most significant advantages of green roofs is their ability to mitigate the urban heat island effect by providing a cooling effect through evapotranspiration. They also reduce stormwater runoff by absorbing rainwater, which can help prevent flooding and reduce strain on municipal sewer systems. Additionally, green roofs improve air quality by capturing pollutants and carbon dioxide, while also providing habitat for birds, insects, and other wildlife. They can also extend the lifespan of a roof by providing an additional layer of protection from the factors, thus reducing the need for maintenance and repairs. Furthermore, green roofs can improve the energy efficiency of a building by providing insulation, thus reducing the need for heating and cooling.
The waterproofing membrane market is expected to benefit from the growing popularity of green roofs. As more building owners and developers choose to install green roofs, there will be an increased demand for waterproofing membranes to protect these roofs from water damage. Green roofs provide more insulation, which can lower the amount of energy required to regulate a building's temperature, as roofs are the source of the most heat loss in winter and the highest temperatures in summer.
According to data published by the National data Council of Canada in 2020, an extensive green roof lowered the daily energy demand for air conditioning in summer by more than 75%. This is expected to create lucrative opportunities for companies that manufacture and install waterproofing membranes. In addition to the increased demand for waterproofing membranes, the growing popularity of green roofs is also projected to drive innovation in the waterproofing membrane market. Companies may develop new, more sustainable materials for waterproofing membranes that are better suited to the unique requirements of green roofs.
The waterproofing membrane market is segmented on the basis of type, application, and region. By type, the market is divided into modified bituminous membrane, thermoplastic olefin membrane, EPDM membrane, PVC membrane, polyurethane membrane, and others. By application, it is categorized into roofing, walls, water and wastewater management, roadways and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global waterproofing membrane market are Soprema Group, KOSTER BAUCHEMIE AG, Johns Manville, Sika AG, Kemper System America, Inc., Danosa, Minerals Technologies Inc., HOLCIM, Dow, and Isomat S.A.
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