Waterproofing Membrane Market Expected to Reach $51.5 Billion by 2032

According to a new report published by Allied Market Research, titled, “Waterproofing Membrane Market," The waterproofing membrane market was valued at $31.0 billion in 2022, and is estimated to reach $51.5 billion by 2032, growing at a CAGR of 5.4% from 2023 to 2032. Asia-Pacific is projected as the fastest-growing region with a CAGR of 5.6%.

Introduction:

Waterproofing membranes are thin layers of material used to protect surfaces from water penetration. They are typically made from rubber, plastic, or bitumen and are applied to surfaces such as roofs, walls, and floors. These membranes are designed to be impermeable to water and can withstand exposure to harsh weather conditions. They are also flexible, allowing them to conform to irregular surfaces and movements in the structure. In addition, waterproofing membranes can be applied in liquid form or as preformed sheets, making them versatile and easy to install.

Market Dynamics:

As urbanization continues to expand and populations grow, there is a rising demand for new infrastructure, residential buildings, commercial complexes, and industrial facilities. This surge in construction projects necessitates effective waterproofing solutions to protect structures from water damage and ensure their longevity. For instance, in China, the government planned to increase infrastructure spending to stabilize the country's declining economy. A report given at the National People's Congress annual session in March 2019 stated that $281.25 billion (CNY 1.8 trillion) in investments were intended for projects including roads and rivers. A smart city plan in India called for investments totaling $31,650 billion for 99 cities. In the next five years, some 500 cities and 100 smart cities are expected to attract investments totaling $27 billion (INR 2 trillion).

The building and construction sector is growing quickly as a result of major developments in infrastructure projects, a focus on affordable housing, and the application of modular building technology. The Department for Promotion of Industry and Internal Trade (DPIIT) reports that foreign direct investment (FDI) in India's development and construction activity sectors reached $26.17 billion and $26.30 billion, respectively, between April 2000 and December 2021. In 2021, infrastructure operations accounted for $81.72 billion, or 13% of all FDI inflows. As of January 2023, the U.S. construction industry's revenue was valued at around $2.8 trillion, with a 12.8% increase from January 2022. The industry's revenue has risen at an annualized rate of 2.7% from 2016 to 2021.

Waterproofing membranes are essential components in the construction industry, providing a barrier against water infiltration and preventing moisture-related issues such as leaks, mold, and deterioration of building materials. These membranes are applied to various areas of a building, including roofs, basements, foundations, and walls, to create a watertight seal and enhance structural integrity. Hence, the global waterproofing membrane industry is projected to witness significant growth, primarily driven by increasing construction activities globally.

The waterproofing membrane market growth is projected to be hampered by environmental and health hazards associated with the production and use of these materials. Waterproofing membranes are commonly made from synthetic materials such as polyvinyl chloride (PVC) and chlorinated polyethylene (CPE), which are known to release harmful chemicals during their production and use. These chemicals can contaminate soil and water sources, posing risks to both human health and the environment. In addition, the disposal of waterproofing membranes at the end of their useful life can further contribute to environmental pollution.

In response to these concerns, there is a growing demand for more sustainable and environmentally friendly waterproofing solutions, such as those made from recycled materials or natural substances. However, the development and adoption of these alternatives may be limited by their higher cost and lower performance compared to traditional waterproofing membranes. As a result, the waterproofing membrane market share is expected to face challenges in balancing the need for effective waterproofing solutions with the need to minimize environmental and health impacts.

Advancements in the material technology of waterproofing membranes have significantly improved the performance, durability, and efficiency of waterproofing systems. These advancements have led to the development of new materials and technologies that offer enhanced waterproofing capabilities, such as improved resistance to water penetration, increased durability, and reduced maintenance requirements. For example, the use of advanced polymers and nanotechnology has enabled the creation of membranes that are more flexible, lightweight, and resistant to UV radiation, chemical exposure, and extreme temperatures. In addition, the development of self-healing and self-cleaning membranes has further improved the performance and longevity of waterproofing systems.

These advancements have also led to the creation of environmentally friendly and sustainable waterproofing solutions, such as membranes made from recycled materials or bio-based polymers. As a result, the demand for the waterproofing membrane market size is expected to grow significantly in the coming years, driven by the need for more durable and efficient waterproofing solutions in various applications, including building construction, infrastructure, and automotive industries. This presents a lucrative opportunity for the growth of the waterproofing membrane market analysis, as manufacturers continue to innovate and develop new materials and technologies to meet the increasing demand for high-performance waterproofing solutions.

Segment Overview:

The waterproofing membrane market is segmented into type, application, and region. By type, the market is divided into modified bituminous membrane, thermoplastic olefin membrane, EPDM membrane, PVC membrane, polyurethane membrane, and others. By application, it is categorized into roofing, walls, water and wastewater management, roadways and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Based on the type, the waterproofing membrane market is classified into modified bituminous membrane, thermoplastic olefin membrane, EPDM membrane, PVC membrane, polyurethane membrane, and others. The polyurethane membrane is projected to be the fastest-growing segment and the modified bituminous membrane has garnered the highest share in the waterproofing membrane market.

Based on the application, the waterproofing membrane market is classified into roofing, walls, water and wastewater management, roadways, and others. Roofing is projected to be the fastest-growing segment and has garnered the highest share in the waterproofing membrane market.

The major players operating in the global waterproofing membrane market are Soprema Group, KÖSTER BAUCHEMIE AG, Johns Manville, Sika AG, Kemper System America, Inc., Danosa, Minerals Technologies Inc., HOLCIM, Dow, and Isomat S.A.   

Regional Analysis:

Asia-Pacific is projected to register robust growth during the forecast period. The demand for waterproofing membranes in the Asia-Pacific region is expected to increase due to several factors. One of the main drivers is the growing construction industry in the region. As countries in Asia-Pacific continue to develop and urbanize, there is a rising demand for new infrastructure, including buildings, roads, and bridges. Waterproofing membranes are an essential component of these structures, as they help to protect them from water damage and extend their lifespan.

Another factor driving the demand for waterproofing membranes is the increasing awareness of the importance of waterproofing in construction. In recent years, there has been a growing recognition of the need to protect buildings and infrastructure from water damage, which can lead to costly repairs and maintenance. As a result, builders and developers are increasingly incorporating waterproofing membrane market trend into their projects to ensure their longevity and durability.

Emerging economies such as China and India are major contributors, supported by expanding manufacturing activities and increasing investments in R&D. For instance, The International Trade Administration predicts a consistent 8.6% average growth rate in China's construction sector from 2022 to 2030. In addition, the Make in India campaign, spearheaded by the Government of India, aims to achieve infrastructural investments totaling $965.5 million by 2040.

Key Findings of the Study:

• Based on the type, the polyurethane membrane segment is projected to be the fastest-growing segment in terms of revenue, during the forecast period.
• Depending on the application, the roofing segment is expected to be the leading segment during the forecast period.
• Region-wise, Asia-Pacific garnered a major share in 2022 in terms of revenue.