Waterproofing Membranes Market: Key Highlights
- The global waterproofing membranes market was valued at ~US$ 19 Bn in 2018 and is anticipated to expand at a CAGR of ~7% during the forecast period.
- The global waterproofing membranes market is primarily driven by growth in the construction industry and rise in the need to improve the quality of construction. Emerging and developed economies across the globe are carrying out infrastructure developments such as roadways, railroads, and river bank protection projects to sustain economic growth. These civil construction projects boost the consumption of waterproofing membranes, which are commonly accepted as durable and long-lasting products.
Key Drivers of Waterproofing Membranes Market
- Waterproofing membranes are extensively employed in commercial, residential, and industrial structures, as these protect surfaces from harsh climatic conditions. Macroeconomic factors such as improvement in economic conditions in developing countries, growth in purchasing power, and recovery of Europe from the debt crisis are boosting the consumption of waterproofing membranes. End users of waterproofing membranes, such as construction, mining, roofing, and landfills & tunnels, have been expanding their business substantially since the last few years.
- Waterproofing is paramount to the success of green roofs. Waterproofing membranes help prevent the entry of water into a building and act as barrier against damage from root penetration. These membranes also provide better tolerance to high temperature, roof drainage falls, airtightness, and vapor control to buildings. These factors are estimated to make waterproofing membranes vital for the protection of overall structures, in order to protect these overall structure of green roofs against puncture and imperviousness to water.
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Global Waterproofing Membranes Market: Liquid-applied Membranes to Offer Attractive Opportunities
- In terms of type, liquid-applied membranes was a highly attractive segment of the global waterproofing membranes market in 2018. The segment is expected to maintain its attractiveness during the forecast period, due to their easy availability and low production cost.
- Liquid-applied membranes are sprayed or applied by a brush or roller to the surface that needs to be waterproofed. These membranes have elongation properties, durability, flexibility, abrasion, and chemical resistance, which makes them ideal for waterproofing.
- Liquid-applied membranes help extend the service life of structures such as car parks, balconies, podium decks, and green roofs. The major advantage of liquid-applied membranes over other membranes is lack of joint-free process, as there is no likelihood of leakage of water, unlike in roll sheet membranes and other waterproofing methods.
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Fluctuation in Prices of Raw Materials to Hamper Waterproofing Membranes Market
- Gasoline is the primary raw material used in the production of bitumen waterproofing membranes. The demand for gasoline is still declining. This has adversely affected the supply of bitumen and asphalt. Furthermore, the high cost of manufacturing techniques, such as the oxidation process, has led to an increase in the production cost of bitumen-based waterproofing membranes. These factors are estimated to hamper the global waterproofing membranes market during the forecast period.
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Europe Dominates Waterproofing Membranes Market
- In terms of region, Europe accounted for a prominent share of the global waterproofing membranes market in2018. It is expected to remain a highly lucrative region during the forecast period, due to rapid industrialization and rise in the demand for waterproofing products in roofing and water & waste management sectors in the region.
- Rise in regulations on the requirements of new buildings in Europe is expected to drive the demand for waterproofing of structures in order to ensure their durability. This is anticipated to propel the lifespan of buildings. Increase in GDP and growth in investments in industrial and commercial sectors are estimated to boost the construction sector in the region in the next few years.
Top Five Players Account for Key Share of Global Waterproofing Membranes Market
- The global waterproofing membranes market is highly moderately fragmented, as a large numbers of small players operate in the market. Currently, the global waterproofing membranes market is expanding at a steady pace. Key players are largely focusing on research and development activities. The top five players – BASF SE, Sika AG, The Dow Chemical Company, Fosroc International Ltd, and Carlisle Companies Inc. – cumulatively accounted for ~40%share of the global market in
- BASF SE constituted a leading share of the global waterproofing membranes market in 2018. The company offers more than 100 types of waterproofing membranes. Its offices and manufacturing sites are located in almost every major city across the globe. The company invests in expanding its product portfolio in order to maintain its leading position in the market.
- In May 2019, BASF SE introduced the Ucrete UD200 SR flooring system. Ucrete UD200 SR is a heavy-duty, trowel-applied polyurethane concrete floor system formulated for use in wet-process applications, and wherever slip-resistant floors are required.
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