The global waterproofing membrane market size is set to gain momentum from the increasing investments by renowned companies in the development of eco-friendly products for green buildings, as conventional membranes can cause harm to the environment by releasing toxic chemicals. This information is given by Fortune Business Insights™ in a report, titled, “Waterproofing Membrane Market, 2021-2028.” The report further states that the waterproofing membrane market stood at USD 27.17 billion in 2020. It is projected to grow from USD 28.05 billion in 2021 to USD 42.85 billion in 2028 at a CAGR of 6.2% during the forecast period.
COVID-19 Pandemic: Stoppage of Construction and Renovation Activities in China to Hamper Growth
The COVID-19 pandemic has negatively affected the building & construction industry across the globe because of the stringent norms implemented by government bodies, such as lockdowns and social distancing. Also, disturbances in trade movements and supply chains have hindered the demand for waterproofing membrane. In China, for instance, the halt of renovation, development, and construction activities is set to also affect growth.
Segments-
Liquid Applied Segment Led in 2020 Backed by Cost-effectiveness and Easy Installation
Based on type, the market is bifurcated into sheet-based and liquid applied. Amongst them, the liquid applied segment generated the largest waterproofing membrane market share in 2020. This growth is attributable to the surging demand for water conservation and water treatment infrastructures worldwide. Also, this type is cost-effective and can be easily installed.
Report Coverage-
The report aims to analyze the market by considering contributions, prospects, and trends. It offers detailed profiles of every key company operating in the industry to analyze their core competencies in each segment. Apart from that, it ensures to help our clients better understand the competitive developments, such as collaborations, new product launches, partnerships, mergers, joint ventures, and acquisitions.
Drivers & Restraints-
Increasing Government Investments in Infrastructure Projects to Boost Growth
Increasing population, rapid infrastructure development, and industrialization globally are gradually surging the demand for commercial and residential establishments. Government agencies in various countries are also spending huge sums in private and public infrastructure projects, such as schools, airports, bridges, water treatment plants, hospitals, power stations, and roads. Such initiatives are anticipated to propel the waterproofing membrane market growth in the near future. However, certain products contain numerous harmful chemicals that can result in respiratory issues, such asbronchit is and lung trauma if exposed. It may hinder growth.
Browse summary:
https://www.fortunebusinessinsights.com/waterproofing-membranes-market-102393
Regional Insights-
Asia Pacific Stood at USD 10.56Billionin 2020:Fortune Business Insights™
In 2020, Asia Pacific generated USD 10.56 billion in terms of revenue. In India and China, the rising infrastructure development activities and rapid industrialization would aid regional growth. In North America, surging investments in the automotive, construction & infrastructure, and healthcare industries are set to spur the demand for waterproofing membranes. Europe is estimated to showcase considerable growth because of the increasing construction of apartments and residential housing in the region.
Competitive Landscape-
Key Players Focus on Capacity Expansions and Acquisitions to Gain Competitive Edge
The global market contains a large number of renowned companies that are majorly focusing on mergers and acquisitions and expansion of their production capacities to compete with their rivals. Below are the two significant industry developments:
- March 2020: Sika developed a new production facility in Switzerland for the manufacturing of SikaProof® structural waterproofing membrane. It would help the company to provide better services to the growing market and bolster its manufacturing efficiency.
- May 2018: GCP Applied Technologies Inc. acquired R.I.W. Limited, a supplier of waterproofing products based in the U.K. The total deal was worth USD 30 million. It would help GCP in adding the latter’s solutions in its portfolio.
A list of prominent companies operating in the waterproofing membrane industry:
- Sika AG (Switzerland)
- Tremco Incorporated (U.S.)
- BASF SE (Germany)
- Soprema Group (France)
- GCP Applied Technologies (U.S.)
- Fosroc, Inc. (India)
- Mapei S.p.A. (Italy)
- Carlisle Company Incorporated (U.S.)
- Johns Manville (U.S.)
- Elmich Singapore (Singapore)
- Other Players
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