Waterproofing Membrane Market Size

Global Waterproofing Membrane Market Overview

Waterproofing Membrane Market Size was valued at USD 21.10 billion in 2021. The Waterproofing Membrane industry is projected to grow from USD 22.70 Billion in 2022 to USD 38.50 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.87 % during the forecast period (2022 - 2030). Rapid urbanization, economic growth, and bolstering infrastructural projects are driving market growth.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Waterproofing Membrane Market Trends

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  Rapid urbanization, economic growth, and bolstering infrastructural projects and efficiency and cost-effectiveness boosting sales of waterproofing membranes to boost market growth

  
  

Refurbishment of existing infrastructure is a driving force behind the increasing demand for waterproofing membranes. Waterproofing membranes are applied in a variety of infrastructures such as industrial, residential, and government buildings. Prominence in water conservation and wastewater treatment from the government is expected to further boost the demand for waterproofing membranes in the near future. Waterproofing of walls, tunnels & landfills, roofs are anticipated to propel the waterproofing membrane market. These membranes can withstand extreme climatic conditions, making this an ideal solution for the insulation of mining tunnels worldwide.

A rise in infrastructure spending includes the creation of a huge demand for private and public sectors' infrastructural developments, such as power stations, electricity grids, water supply and treatment plants, roads, railways, airports, bridges, telecommunications networks, schools, and hospitals. The American Society of Civil Engineers (ASCE) found that the nation’s infrastructure averaged a “C-,” up from a “D+” in 2017 and the highest grade in twenty years.

Rapid urbanization is the major driver of infrastructure spending. The building & construction industry needs high-performance materials that are strong, lightweight, durable, and versatile, and have high performance capabilities. The quality and performance of building materials need to be extremely consistent, pushing the demand for waterproofing membranes for infrastructural development. The population of North America was around 367,553,264 in 2020, with European Union having a 447,801,418 population. The majority of the population resides in developed countries with an increasing demand for residential housing and urban infrastructure. According to the United Nations, the North American and Europe population is expected to increase by ~2% by 2050, further necessitating the construction of housing, commercial hubs, roads, and waste & water management facilities.

Figure 1: PROJECTED PUBLIC AND PRIVATE INFRASTRUCTURE INVESTMENT AS A PERCENTAGE OF GROSS DOMESTIC PRODUCT (GDP), 2016–2040Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

There is a great need to improve and improve the quality of infrastructure, especially in Russia and Ukraine, due to the war crisis. The North American region, largely represented by the US, the development of emerging infrastructure is an important factor driving market growth in developed regions. Industrial development and rapid construction drive the sale of waterproofing membranes. In addition, snowfall in the region adds to water leaks and may damage buildings. This has had a positive impact on the sale of waterproof membranes. Thus, rapid urbanization, economic growth, bolstering infrastructural projects, and efficiency and cost-effectiveness boosting sales of waterproofing membranes driving the growth of the Waterproofing Membrane market revenue.

Waterproofing Membrane Market Segment Insights

Waterproofing Membrane Material Insights

The Waterproofing Membrane market segmentation, based on material, Modified Bitumen, PVC, TPO, EPDM, HDPE, and LDPE. The Modified Bitumen segment held the majority share in 2021 contribution to around ~50-55% in respect to the Waterproofing Membrane market revenue. This is primarily owing to the rapid urbanization, economic growth, bolstering infrastructural projects, and efficiency and cost-effectiveness boosting sales of waterproofing membranes. Hence, there is rising demand for Waterproofing Membrane.

January 2020: BASF had introduced an innovative waterproofing membrane, MasterSeal 730 UVS in Asia, to expand its versatile waterproofing portfolio under its Master Builders Solutions brand. MasterSeal 730 UVS is a pre-applied, high-density polyethylene (HDPE) sheet waterproofing membrane treated with a unique pressure-sensitive adhesive and protective coating to enable good adhesion.

August 2021: Sika has acquired Shenzhen Landun Holding Co., Ltd., a manufacturer of waterproofing systems in China. The company offers a comprehensive range of waterproofing products and technologies and will further complement Sika’s existing portfolio. The combined offering will provide new growth opportunities in the fast-growing Chinese waterproofing market.

Waterproofing Membrane Type Insights

The Waterproofing Membrane market segmentation, based on type, Liquid-applied Membranes, Sheet Based Membranes. The Liquid-applied Membranes segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The growth can be attributed to the growing awareness towards the advantages of the product such as cost-effectiveness and ease of installation. In addition, increasing infrastructural in terms of water conservation and treatment is expected to rise the demand for the liquid applied membrane during the fore coming period. It features uniform thickness making its utilization easy across various applications. These membranes are typically utilized for applications such as waterproofing of roofs, wet rooms, water and sewage treatment plants, stadium stands, and others. Hence, demand in different applications positively impacts the market growth.

June 2021: Sika has acquired Modern Waterproofing Group, a leading manufacturer of roofing and waterproofing systems in Egypt. It manufactures solutions for the waterproofing and roofing markets, focusing on a comprehensive range of modified bitumen membranes. This has further increased market share in the Waterproofing Membrane industry.

Figure 2: Waterproofing Membrane Market, by type, 2021 & 2030 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

PVC roofing systems have grown in popularity in recent years due to several distinguishing characteristics, including longevity, durability in harsh weather and temperature extremes, low lifecycle costs, energy efficiency, heat and solar reflectance, flame resistance, chemical and grease resistance, ease of maintenance, ease and flexibility of installation, and inherent recyclability/re-use, among many others.

Waterproofing Membrane Application Insights

Based on application, the Waterproofing Membrane industry has been segmented into roofing & walls, water and waste management, building structures, tunnel liners, and bridges & highways. Roofing & walls held the largest segment share in 2021, owing to the increase in demand due to the increasing usage of Waterproofing Membrane in construction. The Roofing & walls segment is expected to bolster at a 6.71% CAGR during the assessed timeline.

Waterproofing Membrane Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, Latin America, Middle east & South Africa. Asia-Pacific Waterproofing Membrane dominating market accounted for USD 6.85 billion in 2021 and is expected to exhibit an 6.71 % CAGR during the study period. This is attributed to the expanding usage of Waterproofing membranes including wet rooms, roofs, water, sewage treatment plants, retaining walls, building foundations, and tunnels in the region. According to the Bureau of Economic Analysis, the total value added by the construction industry in the first three quarters of 2022 in the United States was around USD 2,980 billion, roughly 5% higher than the previous year for the same period.

Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: WATERPROOFING MEMBRANE MARKET SHARE BY REGION 2021 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Waterproofing Membrane market accounts for the second-largest market share due to the growing demand for the product from various applications, including the styrene industry. Further, the Germany Waterproofing Membrane market held the largest market share, and the UK Waterproofing Membrane market was the fastest growing market in the European region.

The Asia-Pacific Waterproofing Membrane Market is expected to grow at a CAGR of 6.12 % from 2022 to 2030. This is because of the region's increasing usage of Waterproofing Membrane in construction, as well as the expanding demand for Waterproofing Membrane from the waste management and tunnel liners in developing nations like China and India. Moreover, China Waterproofing Membrane market held the largest market share, and the India Waterproofing Membrane market was the fastest growing market in the Asia-Pacific region.

For instance, India Waterproofing Membrane market is the favored destination for Waterproofing Membrane manufacturers due to the infrastructure projects. On the other hand, Japan is famous for the civil engineering industry. Hence, Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2022–2030.

Waterproofing Membrane Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Waterproofing Membrane market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Waterproofing Membrane industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the Waterproofing Membrane industry to benefit clients and expand the Waterproofing Membrane market sector is to manufacture locally to reduce operating costs. In recent years, Waterproofing Membrane has provided some of the most significant benefits.

BASF SE (Germany) is one of the largest chemical producers in the world. The company operates through chemicals, performance products, functional materials and solutions, agricultural solutions, etc. However, as of January 2019, the company has divided its business segments into six: materials, industrial solutions, chemicals, surface technologies, agricultural solutions, and nutrition & care. The company's product portfolio offers diesel exhaust fluid under the intermediates subdivision of the chemicals segment. It operates through 12 divisions that manage 54 and regional business units and develop strategies for 86 strategic businesses. BASF marks its presence in 80 countries and operates through six Verbund sites, which interlink the working of production plants, energy flows, and infrastructure in different regions. BASF primarily operates in Europe and has an active presence in the Americas, Asia-Pacific, and the Middle East & Africa. In January 2020, BASF had introduced an innovative waterproofing membrane, MasterSeal 730 UVS in Asia, to expand its versatile waterproofing portfolio under its Master Builders Solutions brand. MasterSeal 730 UVS is a pre-applied, high-density polyethylene (HDPE) sheet waterproofing membrane treated with a unique pressure-sensitive adhesive and protective coating to enable good adhesion.

Also, Sika AG (Switzerland) is a leader in specialty chemicals which is involved in the development and selling of products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry across the globe. The company has 190 manufacturing plants with several R&D facilities. It has operations in Asia-Pacific, the Americas (North & Latin), Europe, and Africa, spanning over 101 countries. Some of the key brands for adhesives include Sikaflex, SIkabond, SikaForce, SIkaSeal, and Sikasil. The company offers waterproofing membrane under construction solutions segment.

Key Companies in the Waterproofing Membrane market includes

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  BASF SE (Germany)

  
  


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  Mapei SpA (Italy)

  
  


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  Fosroc Inc (UK)

  
  


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  Kemper System America, Inc.

  
  


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  GAF Materials Corporation

  
  


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  Paul Bauder GmbH & Co, among others

  
  


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  Sika AG (Switzerland)

  
  

Waterproofing Membrane Industry Developments

August 2021: Carlisle Construction Materials (CCM) has announced its new TPO manufacturing line, which will produce the commercial roofing industry’s first 16-foot-wide TPO membranes. The new production line will add to CCM’s industry-leading production capacity with the widest TPO sheets on the market.

Waterproofing Membrane Market Segmentation

Waterproofing Membrane Material Outlook

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  Modified Bitumen

  
  


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  PVC

  
  


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  TPO

  
  


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  EPDM

  
  


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  HDPE

  
  


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  LDPE

  
  

Waterproofing Membrane Type Outlook

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   Liquid-applied Membranes

  
  


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  Sheet Based Membranes

  
  

Waterproofing Membrane Application Outlook

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  Roofing and Walls

  
  


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  Water and Waste Management

  
  


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  Building Structures

  
  


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  Tunnel Liners

  
  


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  Bridges and Highways

  
  

Waterproofing Membrane Regional Outlook

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  North America

  
  
  
  
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    US

    
    
  
  
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    Canada

    
    
  
  
  
  


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  Europe

  
  
  
  
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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  


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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America