Download PDF Brochure https://bit.ly/3kuGkDXThe global Waterproofing Membranes Market size is estimated at USD 33.5 billion in 2020 and is proje...Download PDF Brochure https://bit.ly/3kuGkDX
The global Waterproofing Membranes Market size is estimated at USD 33.5 billion in 2020 and is projected to reach USD 38.8 billion by 2025, at a CAGR of 5.4%. The growing demand for waterproofing membranes is due to the economic development, increasing urbanization and industrialization in emerging econmoies. Additionally, increasing investments to build infrastrcture is also driving the consumption of waterproofing membranes.
+ Driver: Urbanization, economic growth, and infrastructural developments
Infrastructure is the vehicle for transforming low- and middle-income countries into emerging or developing ones. Rapid urbanization in emerging economies and continued urbanization in advanced economies are the major drivers of infrastructure spending.
+ Restrain: Potential health and environmental issues
The use of waterproofing chemicals or membranes poses environmental and human health risks. Waterproofing membranes, when used in spray form, can be dangerous for the user and also the workers in the vicinity.
+ Opportunity: Rising interest in green roofs to boost demand for waterproofing membranes
Waterproofing membranes have some disadvantages, such as toxicity and VOC content. Manufacturers such as Sika, Fosroc, and Tremco provide and have also invested in R&D of solutions, which have minimal impact on the environment.
+ Challenge: Volatility in raw material prices
The raw materials used for manufacturing waterproofing membranes are extracted primarily from crude oil. Waterproofing membranes based on PVC, PU, acrylic, and bitumen are all derived from petroleum sources.
+ In March 2020, Sika put into operation a new production facility for the SikaProof structural waterproofing membrane, at Sarnen, Switzerland. This investment in the expansion will boost manufacturing efficiency and enable the company to serve the rapidly growing market.
+ In February 2019, Tremco has launched a new product under the brand name POWERply Endure Membranes. These membranes can be installed in a variety of hot and cold adhesives and form exceptionally durable, waterproof roofs when paired with POWERply Endure BIO Adhesive.
+ In May 2018, GCP Applied Technologies has acquired UK .based R.I.W. Limited, a supplier of waterproofing products for USD 30 million.