Waterproofing Membranes Market Report

Waterproofing Membranes Market Analysis By Application [Liquid Applied (Cementitious, Bituminous, Polyurethane, Acrylic), Sheet (Bituminous, PVC, EPDM)], By End-use, And Segment Forecasts, 2014 - 2025

Published: August 2017  |  138 Pages  |  Format: PDF  |  Report ID: 978-1-68038-470-3

Industry Insights

The global waterproofing membranes market size was valued at USD 18.52 billion in 2016. Growing infrastructure sector, rising demand for water & wastewater management, and innovations in the field of liquid membranes are expected to positively impact the market growth.

Waterproofing membranes are used in a host of applications including roofing, walls, building decks, basements, balconies, bridge decks, foundation, parking areas, water tank linings, and tunnels. Increasing consumer awareness regarding the benefits of waterproofing and new materials such as geomembranes is expected to augment the demand over the next eight years.

U.S. waterproofing membranes market revenue, by application, 2014 - 2025 (USD Billion)

U.S. waterproofing membranes market

The product is available in two forms including liquid and sheet. Liquid applied membranes dominated the global market in 2016 on account of their low cost and high efficiency as compared to the sheet membranes. While TPO, bitumen, EPDM, and PVC are the major materials used for manufacturing sheet products, liquid coatings are manufactured using cementitious materials, bitumen, polyurethane, and acrylic.

Rising mining activities in various regions coupled with cost-effectiveness & low manufacturing cost are likely to increase utilization of the product over the coming years. Technological innovations aimed at the development of new materials for waterproofing by companies such as Pidilite Industries, Eastman Chemical Company, and Sika AG are expected to remain critical success factors for market growth over the forecast period. In 2012, Pidilite launched a new eco-friendly Low Energy Consumption (LEC) material, which is an innovative insulation cum waterproofing solution.

Fluctuation in prices and supply of raw materials used for manufacturing the product is likely to hinder the growth. In addition, fluctuating raw materials prices are most likely to increase the overall production cost, thereby negatively affecting the demand.

The industry is characterized by the integration of companies across various stages of the value chain including raw material supply, membrane manufacturing, and distribution. Companies such as Pidilite, BASF, and Dow Chemicals are engaged in manufacturing raw materials as well as waterproofing materials for various applications.

Application Insights

Liquid applied membranes dominated the global market with a revenue share of 62.0% in the global market. Increasing investment in infrastructure, growing awareness about the product, and cost-effectiveness are expected to be the key factors driving growth.

Continuous R&D coupled with associated technological breakthrough in the area of processing and cost-effective production of liquid products are likely to propel product utilization over the coming years. Supportive government initiatives are further expected to develop new opportunities for the market.

In 2016, cementitious liquid membranes held a major share of 35.5% in the market. These are utilized across various applications due to factors such as low cost and comparatively easy raw material availability.

Acrylic membranes are anticipated to witness significant growth over the forecast period. Increasing utilization of acrylic coating to protect roofs from harsh weather and sunlight absorption is anticipated to provide positive scope for market growth over the forecast period. In addition, the ability of the product to provide resistance against hail storms, snow build up, and heat is likely to drive product demand.

Sheet membranes are anticipated to witness a growth of 6.9%, in terms of volume, from 2017 to 2025. Asphalt or bitumen is one of the majorly utilized materials for manufacturing the product. These products have high-temperature resistance and superior elongation properties, which increase its efficiency in applications.

Sheets are difficult to apply on rough surfaces and have a high cost, which are factors likely to hinder their demand over the coming years. In addition, new developments in the field of elastomeric coatings, including polyurethane and acrylic products, are further expected to restrain the demand over the next eight years.

Bituminous sheet membranes segment expected to witness a CAGR of 7.6%, in terms of volume, from 2017 to 2025. Its properties, including high tensile strength and durability, are expected to augment its demand over the next eight years.

EPDM segment is expected witness considerable growth over the coming years. Enhanced features such as accommodating structural movement without membrane stress and resistance against frigid temperatures are anticipated to provide positive scope for product demand over the next eight years.

End-use Insights

In terms of revenue, roofing dominated the global market with a share of 31.1% in 2016. Roofs are highly prone to leakages and changing climatic conditions. Increasing complexity in building design coupled with increasing focus on leakage protection has led to a high demand for the product in this application.

The rise in construction of non-residential buildings including offices, hospitals, recreational centers, and educational institutes is expected to propel demand over the forecast period. Roofing systems are developed to provide a flexible watertight coating bonded directly to the substrate. In addition, roofing membranes provide slip resistance, texture, durability, and UV resistance.

Global waterproofing membranes market by end-use, 2016 (%)

Global waterproofing membranes market

Building structures is expected to witness a CAGR of 9.2%, in terms of revenue, from 2017 to 2025. Liquid coatings are highly preferred for building structures as compared to sheet membranes as they provide a high level of protection over the initial paint coat. These are being increasingly utilized in balconies, decks, bathrooms, and wet areas.

The polyurea-based coatings are preferred for use in below ground waterproofing, thereby leading to significant increase in the demand over the forecast period. Forsoc’s products, Polyurea WPE and Nitoproof 600PF/800, can be used for waterproofing of podiums, decks, terrace, green roofs, and balconies.

Regional Insights

Europe was the largest market with a share of 36.5% in 2016. Increasing focus on water and waste management is expected to positively affect the market. In addition, growing investment in construction in Eastern European countries including Russia, Poland, and Turkey is further anticipated to fuel the market.

Asia Pacific is likely to witness the fastest growth over the forecast period on account of rapid industrialization coupled with growing infrastructure development in India and China. Increasing population and urbanization is expected to increase the residential construction, thereby augmenting market growth.

Central & South America is likely to witness a CAGR of 6.9% from 2017 to 2025. Increasing government spending on infrastructure and growing disposable income of the middle-class population in key economies including Brazil, Colombia, Venezuela, and Argentina are expected to positively affect the demand.

MEA is anticipated to witness sluggish growth as compared to other economies. However, advancements in infrastructure and reconstruction activities in Egypt and Libya are likely to act as a stimulus for the region. In addition, government investment in public private partnership (PPP) projects in Africa is further expected to fuel the demand.

Competitive Insights

Key players engaged in manufacturing and distribution of waterproofing membranes include Pidilite Industries Ltd., Sika AG, Paul Bauder GmbH & Co. KG, BASF SE, Kemper System America, Inc., DuPont, Fosroc Ltd., GAF Materials Corporation, DOW Chemical Company, and CICO Technologies Ltd.

The industry is fragmented in nature due to the presence of numerous companies. There are regional, small-scale producers with a strong hold in their domestic or regional market; many of which are present in China and India. Expansion and merger & acquisition are the key strategies opted by the companies.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014–2015

Forecast period

2017–2025

Market representation

Revenue in USD Million, Volume in Million Square Meters, and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Germany, UK, China, Japan, Brazil

Report coverage

Revenue & volume forecast, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global waterproofing membranes market on the basis of application, end use, and region:

  • Application Outlook (Revenue, USD Million; Volume, Million Square Meters, 2014 - 2025)

    • Liquid applied membranes

      • Cementitious

      • Bituminous

      • Polyurethane

      • Acrylic

      • Others

    • Sheet membranes

      • Bituminous

      • PVC

      • EPDM

      • Others

  • End Use Outlook (Revenue, USD Million; Volume, Million Square Meters, 2014 - 2025)

    • Roofing

    • Walls

    • Building Structure

    • Tunnels & Landfills

    • Others

  • Regional Outlook (Revenue, USD Million; Volume, Million Square Meters, 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa 

Key questions answered by the report
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