IMARC Group has recently released a new research study “Waterproofing Membranes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the Waterproofing membranes Industry?
The global waterproofing membranes market size reached US$ 25.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 37.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.
What is a Waterproofing membranes Market?
Waterproofing membranes refer to a thin layer of water-tight material placed on a surface to avoid water leaks or damage. They are manufactured using various materials, such as polymers, asphalt, and tackifiers, and may contain mineral stabilizers. They are commonly used to stop water from affecting concrete’s structural integrity and can be coated on numerous objects to prevent corrosion. As a result, waterproofing membranes find extensive applications in building structures, tunnel liners, bridges, roofing, walls, highways, and water and waste management across the globe.
What are the Key Factors Driving in the Waterproofing membranes Market?
The global waterproofing membranes market is primarily driven by rising product applications in water and waste management for protection against chemical attacks or abrasion damage due to rapid water flow. Additionally, the increasing consumer awareness regarding the effects of potential water disasters on water management programs is positively influencing market growth. Moreover, the rising public and private investments in bridges, tunnels, manufacturing plants, and institutes represent another major growth-inducing factor.
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Furthermore, waterproofing membranes have been utilized in building structures to improve flexibility, strength, and resistance to differential movement, fire, and high temperatures. In line with this, the increasing infrastructural expenditures, rising construction projects, and ongoing housing developments have catalyzed market growth. Other factors, including increasing mining activities, favorable government regulations, and rapid expansion in the construction industry, are also anticipated to drive the market further.
Who are the major key players/companies in Waterproofing membranes Market?
BASF SE, Carlisle Companies Incorporated, Dow Inc., Firestone Building Products (Holcim Group), Fosroc Inc. (JMH Group), GAF Materials Corporation (Standard Industries), GCP Applied Technologies (W. R. Grace and Company), Johns Manville (Berkshire Hathaway Inc.), Mapei S.p.A, Paul Bauder GmbH & Co. KG, Renolit SE (JM Holding GmbH & Co. KGaA), Sika AG and Soprema S.A.S.
The report has been segmented the market into following categories:
Breakup by Product:
- Liquid Applied Membranes
- Sheet Membranes
- Polyvinyl Chloride (PVC)
- Ethylene Propylene Diene Monomer (EPDM)
Breakup by Usage:
- New Construction
Breakup by Application:
- Roofing and Walls
- Water and Waste Management
- Building Structures
- Tunnel Liners
- Bridges and Highways
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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