Increasing Housing Units augments the Waterproofing Membranes Market Growth

Waterproofing Membranes Market
Waterproofing Membranes Market

Waterproofing Membranes Market by raw material (modified bitumen, PVC, TPO, EPDM, HDPE, and LDPE), type (cold liquid-applied membranes, hot liquid-applied membranes, fully adhered sheets, and loose laid sheets), application (roofing and walls, water and waste management, building structures, tunnel liners, and bridges and highways) and by Region (Europe, North America, Asia Pacific, Africa, Latin America and Middle East) - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

The global Waterproofing Membranes Market is estimated to be valued at US$ 23.2 Bn in 2021 and is expected to exhibit a CAGR of 7.1 % over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

A waterproofing membrane is a coating of water-tight material that is rested onto a surface to obstruct water leaks or damage. Waterproofing membranes usually comprises of fluids applied or pre-molded sheets. They can be observed to or installed over the foundations to obstruct water diffusion. Whether it’s to secure the building’s surface or roof, waterproofing will assist obstruct water from penetrating the basement and secure the structure from water destruction. Waterproofing membrane is added to the cement that will aid make water access impassable and making it tranquil to regulate.

Competitive Landscape:

Key players involved in the growth of global Waterproofing Membranes Market are Soprema Group, BASF SE, Minerals Technology Inc., Sika AG, and Dow.

Market Key Drivers:

The rising number of household is projected to propel the growth of global Waterproofing Membranes for Market. For instance, as per House of Commons report in 2022, the number of households over England is projected to rise progressively to 26.9 million units by 2043.

The rise in construction industry to boost the growth of global Waterproofing Membranes for Market. For instance, as per Bureau of Economic Analysis, the total value of construction industry in 2022 in the United States was over US$ 2,980 billion.

Covid-19 Impact Analysis:

The Covid-19 outbreak had adversely affected the growth of global Waterproofing Membranes for Market due to the strict imposition of lockdown and shutdown. The rise in cases has led to the disruption in supply chain, closure of manufacturing and production units. The halt in construction other activities, the lack of laborers has also impeded the market growth.

Key Takeaways:

The global Waterproofing Membranes Market is expected to exhibit a CAGR of 7.1 % during the forecast period due to the rising acquisitions and mergers. For instance, in May 2022 Sika AG entered an acquisition with the US-based United Gilsonite Laboratories.

Among regions, North America, Asia Pacific and Europe is anticipated to witness robust growth in the global Waterproofing Membranes for Market due to rising construction activities, increasing housing units, rising approvals and launches. For instance, The Indian government, in its Union Budget 2022-23, announced an investment of INR 48,000 crores or US$ 5.8 billion for its PM Aawas Yojana scheme, retelling its assurance to build affordable houses for the urban poor.

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