Waterproofing Systems Market Expected to Witness a CAGR of 7.0% During 2022-2026, Reveals MarketsandMarkets™
In the report “Waterproofing Systems Market by Type (Waterproofing Membranes, Waterproofing Chemicals, Integral Systems), Application (Building Structures, Roofing & Walls, Roadways, Waste & Water Management) and Region – Global Forecast to 2027″, size is estimated at USD 61.3 billion in 2022 and is projected to reach USD 85.9 billion by 2027, at a CAGR of 7.0%, during the forecast period.
The expansion of the construction industry is driving demand for waterproofing systems in emerging economies, such as the Asia Pacific, the Middle East & Africa, and South America. The market for waterproofing systems is challenged by fluctuations in raw material prices. The demand for cost-effective and efficient waterproofing materialis is driving the demand for a waterproofing system. The construction of green buildings and the rising demand for environment-friendly waterproofing systems provide growth opportunities to the market. However, the major restraint is the potential health and environmental issue.
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The waterproofing systems market includes major Tier I and II suppliers like Sika, GCP Applied Technologies, Fosroc, Soprema, and Carlisle Construction Materials. These suppliers have their manufacturing facilities spread across various countries across the Asia Pacific, Europe, North America, South America, and the Middle East & Africa. COVID-19 has impacted their businesses in 2020 but these companies have recovered in the last two years by managing operations and profits. Infrastructural development in the post-covid era is supporting the growth of the waterproofing systems market
Based on the application, the building structures segment is estimated to lead the overall waterproofing systems market in 2022.
Building structures waterproofing systems offer efficient and long-term protection from climate exposures and ensure efficient building structure protection. Building structures includes areas other than roofs and walls such as balconies, basement, foundation, retaining walls, storage rooms, underground structure, and others. The increasing population rises demand for residential and commercial buildings. Moreover, growing industrialization in emerging economies such as China, India, Indonesia, Chile, Nigeria, and others is driving the consumption of waterproofing systems in the building structures segment.
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Based on type, the waterproofing membranes segment is projected to lead the overall waterproofing systems market during the forecast period.
Waterproofing membranes are materials that are applied to prevent water from entering any building structures. These are available in sheet as well as in liquid-applied form. These systems are easy to use & apply and provide better strength, tear resistance, weather resistance, UV stability, and flexibility to the applied surface. They are utilized for a variety of applications such as roofing & walls, building structures, waste & water management, tunnel liners, and bridges & highways, among many others.
Based on region, Middle East & Africa is projected to be the second-fastest growing segment.
The Middle East & Africa is among the fastest-growing regions for waterproofing systems. The region has emerging markets such as Saudi Arabia, South Africa, Egypt, Qatar, Kuwait, and the UAE. Saudi Arabia is the largest market for waterproofing systems in the Middle East & Africa. Saudi Arabia and the UAE are also among the major consumers of waterproofing systems in the region. Rising population, growing disposable income, increased demand for roadways, shifting energy landscape, rapid industrialization, and increased urbanization are driving the waterproofing systems market in the region. Growth in the generation of renewable energy and rapid development of non-oil-based projects are expected to drive the waterproofing systems market in the region during the forecast period.
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The key players in the market for waterproofing systems are Sika AG (Switzerland), Soprema (France), GCP Applied Technologies (US), Fosroc (UK), Mapei S.p.A (Italy), Carlisle Construction Company (US), Tremco (US), Pidilite Industries (India), and Henkel Polybit (UAE)
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