DUBLIN--(BUSINESS WIRE )--The "Global Waterproofing Membrane Market: Analysis By Product, By Application, By Raw Material, By Usage, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.
The global waterproofing membrane market in 2021 was valued at US$29.25 billion. The market is projected to augment to US$40.08 billion by 2026.
A waterproofing membrane is a thin layer of waterproofing layer that is placed on the surface. It is a continuous layer that does not allow water to pass through it.
The waterproofing membranes prevent a range of construction industry challenges such as deterioration of electrical fittings, softening & crumbling of plasters, and corrosion of metals.
Waterproofing membranes when applied on walls prevents water penetration and subsequent infrastructural damage thereby protecting walls and floors in basements, balconies, terraces, and even swimming pool against water and humidity. The market is expected to grow at a CAGR of 6.50% during the forecast period of 2022-2026
Impact Analysis of COVID-19 and Way Forward:
The waterproofing membrane market growth was negatively affected by the COVID-19 pandemic in early 2020, as lockdowns, social distancing measures, and trade sanctions have triggered massive disruptions to global supply chain networks.
A major challenge that the waterproofing membrane market faced during the initial period of the COVID-19 outbreak was the low availability of the workforce and rising labor costs.
After a period of contraction in demand, waterproofing membrane demand would be supported by an increase in housing starts and the efforts of building owners to repair or replace the nation's large stock of structures with older or worn structures, thus resulting in a positive growth outlook. Also, virtual communications with homeowners have been growing in popularity, as have touch-free orders, pickups, and deliveries.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900