North America Below Grade Waterproofing Membranes Market Size, Share & Trends Analysis Report By End Use (Commercial, Residential, Industrial, Infrastructure), And Segment Forecasts, 2020 - 2027

Report Overview

The North America below grade waterproofing membranes market size was valued at USD 382.9 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 2.1% from 2020 to 2027. Increasing construction spending particularly on the development and renovation of commercial spaces is expected to drive market growth.

Below grade waterproofing membranes are witnessing rising adoption in the wastewater treatment industry on account of their ability to prevent groundwater contamination and leaching of toxic chemicals. Thus, growing environmental restrictions on the discharge of untreated wastewater from the municipal and industrial sources are anticipated to boost the product demand.

Residential end-use segment in the U.S. is expected to witness substantial growth over the forecast period owing to the rising preference for single-family housing structures. Furthermore, growing population, strong economic growth, an increase in household formation, and low mortgage rates are expected to be the key factors aiding the growth of residential construction.

A majority of the present-day waterproofing membranes are manufactured by using polymeric materials such as High-Density Polyethylene (HDPE), bitumen, Polyurethane (PU), and synthetic rubber. However, bitumen and polyurethane are by far the most common raw materials used in waterproofing membrane production process.

Improvements in the adhesive technology has enabled the market players to develop waterproofing membranes that can be directly applied to a variety of surfaces such as wood, concrete, and bricks, among others. Moreover, the use of self-adhered membranes significantly reduce the time and labor required for installation.

The dwindling number of qualified and skilled laborers is exerting considerable pressure on the overall construction industry in North America, thus affecting the overall demand for waterproofing membrane products. Additionally, the fluctuations in the prices of key polymeric raw materials are expected to have a negative impact on the market.

End-use Insights

Infrastructure segment led the North America below grade waterproofing membranes market and accounted for more than 45.5% of the revenue share in 2019, owing to extensive product use to protect and improve the shelf life of various structures such as tunnels, bridges, and subways. Furthermore, rising investments in infrastructure development projects is expected to provide a major boost for the product demand over the forecast period.

Below grade membranes are witnessing growing adoption in tunneling applications owing to their ability to protect the structure against the potential damage caused by moisture or unintentional entry of water. Furthermore, the product offers protection against the danger posed by aggressive water or soil and the effects of chemicals.

The commercial end-use segment accounted for 25.7% of the market in 2019 is expected to expand at a CAGR of 2.7% in terms of revenue over the projected period. Increasing urbanization and growing government support to develop tourist and commercial infrastructure are expected to drive the product demand in the commercial end use.

Furthermore, increasing employment rate coupled with the regional expansion of existing companies has led to a rising need for new office spaces, which, in turn, has resulted in increased construction activities across North America. These factors are expected to drive the spending on the refurbishment of old office buildings and support the demand for waterproofing membranes.

Regional Insights

The U.S. dominated the market and accounted for over 80.4% share of total revenue in 2019, owing to the growth of residential, commercial, and industrial construction industries. In addition, the U.S. is expected to witness an increased budgetary outlay to develop and renovate the aging infrastructure projects such as bridges, tunnels, and subways.

The increasing number of service provider firms in Canada is expected to propel the demand for office spaces, thereby fueling commercial construction. The rise in commercial construction activities in the key provinces of the country is expected to boost the demand for below grade waterproofing membranes in commercial end use over the forecast period.

Mexico market for below grade waterproofing membranes is expected to expand at a CAGR of 4.0% over the forecast period on account of expanding construction industry. The rapid growth of the construction industry in the country is mainly attributed to the increasing population, fast-paced urbanization, and increased rate of migration.

Industrial sector in North America is likely to witness a significant expansion owing to the rising preference for domestic manufacturing activities. The manufacturing industry is also expected to benefit from the new policy reforms in U.S. and Mexico, thereby boosting the industrial construction and the demand for below grade waterproofing membranes in the region.

Key Companies & Market Share Insights

The market is dynamic and competitive in nature. New product development and client outreach and expansion of the distribution network are some of the key strategies adopted by various players to strengthen their presence in the market. A large number of established manufacturers are offering customized products to the consumers Furthermore, the industry participants have developed a wide distribution network all over the region, thereby intensifying the industry rivalry. The market players strive to develop long-term relationships with waterproofing contractors to develop brand loyalty. Some of the prominent players in the North America below grade waterproofing membranes market include:

• MAPEI S.p.A.

• RPM International Inc.

• Minerals Technologies Inc.

• GCP Applied Technologies Inc.

• BASF SE

• Sika AG

• W. R. Meadows, Inc.

• Minerals Technologies Inc.

• Kryton International Inc.

North America Below Grade Waterproofing Membranes Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the North America below grade waterproofing membranes market report on the basis of end use and region:

• End-use Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)

  • Commercial

  • Residential

  • Industrial

  • Infrastructure

• Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

    • Mexico