NEW YORK , Sept. 28, 2021 /PRNewswire/ -- Reports and Data has published its latest report titled "Waterproofing Membrane Market By Membrane Type (Hot Liquid-Applied, Cold Liquid-Applied, Fully Adhered Sheets), By Raw Material (PVC, Modified Bitumen, TPO), By Application (Building Structures, Roofing and Walls), and By Region Forecast to 2028."
Rising demand for robust waterproofing solutions to prevent water leaks or damage, rising incidence of waterborne diseases, and availability of cost-effective solutions are some key factors driving market growth
According to Reports and Data, the global waterproofing membrane market size was USD 33.36 billion in 2020 and is expected to reach USD 53.10 billion in 2028 and register a revenue CAGR of 6.0% during the forecast period, 2021-2028.
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A waterproofing membrane is a thin layer of waterproof material that is applied on a surface to minimize or prevent water leaks and seepage that can damage the infrastructure of a building. Waterproof membranes are adhered to or installed around the foundations of a building or infrastructure to stop water penetration and protect structures from water damage. Waterproofing membranes are also used to cover concrete during curing to prevent water from weakening structural integrity. Increasing demand for waterproofing membranes from construction and building sector and increasing usage in water conservation facilities are some other key factors expected to continue to drive market revenue growth over the forecast period. Waterproofing membranes are important in coating of metallic or metal-reinforced products that are generally submerged under water to protect them from corrosion.
Waterproofing membranes are strong, flexible, elastic, and tear-resistant, and can stretch extensively to cover cracks. These membranes comprise thin layers of waterproof material and have a thickness of about 2-4 mm. Waterproof membranes are of two main types – sheet based membranes and liquid applied membranes. A good waterproofing membrane is designed to withstand household and industrial chemicals. Water-related issues and problems account for over 75% of the defects in commercial and residential buildings, leading to significant financial loss and threats to structure integrity. This makes it important for the installation of robust waterproofing solutions to protect commercial and residential properties from water damage caused by inadequate waterproofing and to maintain property value. Over the recent years, waterproofing membrane systems have become more advanced and standardized owing to stringent regulations and building codes.
Waterproofing membrane solutions also prevent moisture and water seepage in walls and ceilings that can lead to fungus or mold growth, which could cause health issues such as allergies, asthma, and other infections. It also ensures a cleaner and safer environment for inhabitants and simultaneously reduces maintenance costs. Waterproofing membranes are widely used on roofs, balconies, and terraces, among other areas. Waterproofing membrane solutions are also used to for foundation waterproofing to prevent water and moisture ingress. Growing need to protect landmark buildings and residential and commercial buildings, and rising investment to develop state-of-the-art waste water treatment facilities is further boosting demand for waterproofing membranes. In addition, rising awareness regarding the importance of waterproofing and increasing need to reduce maintenance and remedial work are some other key factors contributing to revenue growth of the market.
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Social distancing and restrictions severely disrupted businesses and operations
Lockdowns caused disruptions in transportation and logistics
Impacted manufacturing activities and mining operations globally
Took a toll on economy of various countries
Caused sudden and drastic downturn in economic activity
Disrupted agriculture, fisheries, dairy, and other sectors
Caused loss of employment and financial crisis
Supply impacts were further compounded owing to reduced disposable income
Emergence of variants continue to cause concerns and impact normal routines
Cold Liquid-Applied Membrane Type to Account for Largest Revenue Share:
Cold liquid-applied membrane segment is expected to account for largest revenue share in the global market over the forecast period, attributed to advantages of cold liquid-applied waterproofing membranes such as these are monolithic, seamless, and require less preparation time when applied to surfaces. These products are highly suitable for applications where sheet membranes cannot provide complete coverage and this is also a key factor contributing to revenue growth of this segment.
PVC Segment to Dominate Other Raw Materials Segment:
PVC segment is expected to dominate other raw materials segment in terms of revenue over the forecast period, attributed to increasing ability of PVC to withstand precipitation and UV radiation. Other factors such as enhanced durability of PVC waterproofing membranes to withstand harsh environmental conditions, longevity, low costs associated with maintenance and lifecycle, and resistance to chemicals, grease, and fire is further boosting adoption. PVC membranes also offer high waterproofing safety and improve efficiency of installation and this has boosted adoption for waterproofing basements or below-grade areas.
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Increasing Use of Waterproofing Membranes in Roof and Walls:
Roofing and walls segment is expected to register a robust revenue growth rate over the forecast period owing to increasing application of high tensile strength waterproofing membranes in roofs and walls to prevent water seepage and leakage, maintain structural integrity of buildings, prevent damage to furniture or carpeting, and protect the buildings from mold and fungal growth.
North America to Account for a Significantly Large Revenue Share:
North America is expected to account for a significantly large revenue share over the forecast period owing to increasing demand for waterproofing systems from building and construction sector, rising popularity of green roof concept in the United States and Canada , and development of robust water and wastewater treatment infrastructure in countries in the region.
Asia Pacific to Lead in Terms of Revenue CAGR:
Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period, attributed to rising demand for waterproofing membranes due to sharp incline in the number of infrastructure development projects, rapid urbanization, increasing construction of luxurious and modern buildings, and initiatives by governments to promote development of energy-efficient and safe commercial and residential buildings. In addition, increasing awareness regarding clean and potable water, development of water conservation infrastructure to address water shortages in developing countries, and rapid growth of the building and construction sector in countries in the region are some other factors driving revenue growth of the APAC market.
Major Companies in the Market Include:
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For the purpose of this report, Reports and Data has segmented the global waterproofing membrane market on the membrane type, raw material, application, and region:
Membrane Type Outlook (Revenue, USD Billion; Volume, Million Square Meters, 2018-2028)
Raw Material Outlook (Revenue, USD Billion; Volume, Million Square Meters, 2018-2028)
Application Outlook (Revenue, USD Billion; Volume, Million Square Meters, 2018-2028)
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Regional Outlook (Revenue, USD Billion; Volume, Million Square Meters, 2018-2028)
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Some points on how the report benefits stakeholders:
The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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