Global waterproofing membranes market is expected to reach USD 9.49 billion by 2022, according to a new study by Grand View Research, Inc. Increased infrastructural investments by U.S., India and China is expected to propel market growth over the forecast period. In addition, improving infrastructure in developing countries of Central & South America and Asia Pacific has been a key contributing factor to overall growth of the waterproofing membranes market over the past few years and the trend is expected to continue over the forecast period.
Uneven distribution of water precipitation both geographically and seasonally increases need for water conservation, transportation, and treatment which is expected to augment market demand over the next seven years. Liquid applied membrane was the major application estimated at over 1,300.0 million square meters in 2014.
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Further key findings from the study suggest:
- Bitumen was a majorly consumed product with demand exceeding 35% of global market in 2014. However, polymers including PVC, thermoplastic polyolefins, polyurethane and EPDM are expected to witness fastest growth over the forecast period owing to properties of uniform thickness making its application uniform and easy.
- Liquid applied waterproofing membrane demand was the largest in 2014 accounting for over 65% of the global volume. Increasing need for cost effective high performance water repellents coupled with rising infrastructural expenditure in developing countries has been driving the market over the past few years.
- Roofing was the fastest growing segment valued above USD 1.50 billion in 2014. Growing waterproofing systems demand for roofing applications on account of properties including flexibility, texture, durability, slip and UV resistance will have a positive impact on the market over the forecast period.
- Asia Pacific was the fastest growing regional market, estimated at 364.15 million square meters in 2014. Growing government spending on infrastructure in Asia Pacific region particularly in China and India will propel waterproofing membranes market. In addition, South Korea is expected to show high growth in construction industry owing to private and public investments in commercial, industrial and infrastructure projects which in turn are expected to fuel demand.
- Waterproofing membranes market is fragmented in nature, on account of numerous companies present globally. BASF SE manufactures products under the brand name “MasterSeal” while Pidilite Industries Ltd. produces them under a popular brand called “Dr.Fixit”. Companies including Pidilite, BASF and Dow Chemicals are key manufacturers and suppliers of waterproofing membranes on a global scale.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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