Waterproofing Systems Market is Likely to be Worth a Cumulative US$ 85.9 Billion by 2027- Exclusive Report by MarketsandMarkets™
The global waterproofing systems market size is projected to reach USD 72.0 billion by 2025 at a CAGR of 6.4% from 2020. The demand for waterproofing systems is increasing, owing to the growing demand for cost-effective and efficient waterproofing systems. The emergence of environment-friendly waterproofing systems and green buildings is also driving the market.
Based on types, waterproofing systems have been segmented into waterproofing membranes, waterproofing chemicals, and integral systems. The growing demand for cost-effective and efficient waterproofing systems id driving the demand for these waterproofing systems.
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Based on applications, waterproofing systems have been segmented into building structures, roofing & walls, roadways, waste & water management, and others. The growing construction industry in the emerging countries of APAC and South America are driving the demand for waterproofing systems in these applications.
APAC consists of major developing nations, such as China and India, and therefore, the scope for development for most of the industries is high. The region accounted for the largest market share and is the fastest-growing market for waterproofing systems. The growth of the market in the region is attributed to the presence of emerging countries, and their high economic growth rate, the rise in infrastructure projects, increasing urbanization, and growing standard of living. These developing countries are the driving engines for the waterproofing systems market in the region.
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The increase in demand for waterproofing systems and the growing construction industry in the emerging economies, such as APAC and South America, are driving the market. The key players in the waterproofing systems market include Sika AG (Switzerland), BASF SE (Germany), Fosroc (UK), GCP applied technologies (US), Soprema (France), Mapei S.P.A (Italy), Carlisle Construction Company (US), Tremco (US), Pidilite industries (India), and Henkel Polybit (UAE). The waterproofing systems market report analyzes the key growth strategies, such as investment & expansion, new product launch, mergers & acquisition, and partnership & agreement, adopted by the leading market players between 2017 and 2020.
Sika AG (Switzerland) is one of the leading manufacturers and distributors of waterproofing systems. The company adopted mergers & acquisitions as one of its key business strategies. For instance, in June 2020, the company acquired Modern Waterproofing Group, a leading manufacturer of roofing and waterproofing systems in Egypt. It was an addition to the product portfolio of Sika Egypt and offered new opportunities for growth in the Egyptian construction market. The acquired business generates annual sales of USD 28.5 million
BASF SE (Germany) is one of the largest chemical producers globally. The company is among the key players in the waterproofing systems market. The company adopted the strategies of new product launch to strengthen its competitiveness in the global waterproofing systems market. For instance, in April 2018, BASF introduced MasterSeal 7000 CR from Master Builders Solutions for waterproofing and concrete protection for wastewater treatment plants and harsh chemical environments.
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