Waterproofing Membranes Industry Overview
The global Waterproofing Membranes Market reached $24.54 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2030. Increasing demand from the waste and water management sector, along with growing advancements in water conservation infrastructure, is expected to drive this growth. Furthermore, the inconsistent distribution of rainfall across different regions and seasons increases the necessity for water conservation, transportation, and treatment solutions.
Waterproofing membranes are utilized in a wide range of applications, including wet rooms, roofs, water and sewage treatment facilities, retaining walls, building foundations, and tunnels. Increasing consumer awareness regarding the benefits of these products, coupled with the adoption of innovative materials like geomembranes, is anticipated to further boost product demand throughout the forecast period.
Detailed Segmentation:
- Product Insights
The liquid applied membrane product segment led the market and accounted for more than 64.1% share of the global revenue in 2023. The growth can be attributed to the growing awareness about the advantages of the product such as cost-effectiveness and ease of installation.
Polyurethane liquid applied membrane is expected to grow at a significant rate of 10.8% in terms of revenue during the forecast period. It features uniform thickness making its utilization easy across various applications. These membranes are typically utilized for applications such as the waterproofing of roofs, wet rooms, water & sewage treatment plants, and stadium stands.
- Application Insights
The building structure is expected to witness a CAGR of 9.4% in terms of revenue over the forecasted period which can be attributed due to its application in buildings to improve the shelf life and protection at varying temperatures. In addition, the increasing use of sheet membranes for flooring in buildings is expected to contribute to growth prospects.
Landfill and tunnels accounted for USD 2.13 billion in 2023 and is expected to witness substantial growth during the forecast period owing to the rise in demand for cleaning methods in the tunnels. Rising demand for waterproofing membranes in developing countries on account of increasing industrial activity which in turn leads to a rising amount of waste is expected to drive the market growth on a positive note.
- Regional Insights
The market in North America was estimated to be USD 5.60 billion in 2023 and is expected to grow at a significant rate over the forecast period, which can be attributed to the rise in construction activities in Mexico and Canada. In addition, rising investment in warehouse construction for the healthcare, retail, and automotive application industry requiring waterproofing solutions is positively impacting the industry’s growth.
Gather more insights about the market drivers, restraints, and growth of the Waterproofing Membranes Market
Key Companies & Market Share Insights
The market has been characterized by integration through raw material procurement and waterproofing membrane manufacturing. The waterproofing membrane manufacturers through mergers & acquisitions, capacity expansion, partnerships, and others are trying to increase their sales to facilitate the respective market across the globe.
A large set of companies are involved in waterproofing system market which makes the market highly competitive. Major companies operate their business through a dedicated distribution network to differentiate themselves in the value chain and against competitors.
- In January 2023, Saint-Gobain announced the acquisition of Brazil’s Matchem, along with an agreement to acquire the Egypt-based IDP Chemicals. The acquisitions are aimed at strengthening Saint-Gobain’s position in the construction chemicals space, with both the acquisitions becoming a part of the Construction Chemicals segment in High-Performance Solutions.
- In May 2023, ALCHIMICA announced the development of the Humidity Activated Accelerator Technology (HAA) technology, through the combination of ACCELERATOR-3000A and HYPERDESMO. The formulation enables the formation of a membrane that is defect-free and possesses strong elastomeric and mechanical properties.
Key Waterproofing Membranes Companies:
- BASF SE
- Kemper System America, Inc.
- GAF Materials Corporation
- Paul Bauder GmbH & Co. KG
- CICO Technologies Ltd.
- Fosroc Ltd
- GAF Materials Corporation
- Alchimica Building Chemicals
- Maris Polymers
- Isomat S.A.
- Bayer MaterialScience AG
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