Waterproofing Membrane Market

Market Overview

The global waterproofing membrane market size was worth USD 10.5 billion in 2021. It is expected to reach USD 36.5 billion by 2030, growing at a CAGR of 6.9% during the forecast period (2022–2030). 

A waterproofing membrane is a piece of material adhered to a surface to keep leakage and damage at bay. Pre-formed or liquid-applied waterproofing membranes are usual. They can be complied with or implemented around foundations to keep water out (similar to a structural slab).

Waterproofing membranes are classified into two categories: sheet-based membranes and liquid-applied membranes. Sheet-based membranes are accessible in rolls. These are unwound and positioned on a firm surface. The bituminous waterproofing membrane is amongst the most popular sheet-based membranes. Liquid applied membranes are waterproofing membranes that also are applied to the surface as a liquid and can be sprayed or brushed on. 

Market Dynamics

Global Waterproofing Membrane Market Drivers

Economic Growth, Urbanization, and Infrastructure Development

Infrastructure is vital for converting low- and middle-income-income countries into emerging markets. In recent years, infrastructure spending has grown considerably due to urbanization in developing markets and continuous rapid urbanization in developed economies. Increased expenditure on infrastructure drives up requirements for industry and government building projects, including power plants, electricity grid, railways, water supply and treatment plants, roads, airport terminals, bridges, schools, telecommunications networks, and healthcare facilities.

The demand for waterproofing membranes is forecast to expand due to the high demand for high-performance materials that are lightweight, powerful, long-lasting, and flexible. The quality and reliability of building materials must be highly consistent, and therefore demand for waterproofing membranes for building infrastructure is rising. The high population in developing markets, notably in APAC, and the need for improved infrastructure, are supposed to propel future needs for waterproofing membranes.

In 2019, the global population of roughly 7.7 billion, with APAC accounting for approximately 60% of the combined amount. Developing nations are home to about 80% of the world's population, creating a vast residential housing and urban infrastructure market. According to the United Nations, the global population is estimated to increase by 8.5 billion by 2030 and 9.7 billion by 2050, requiring the construction of housing, commercial hubs, roads, and waste and water management facilities.

India, China, Brazil, Southeast Asia, Russia, and other emerging markets have enormous potential for infrastructure growth and enhancement. Waterproofing membrane consumption is projected to increase as these membranes play a significant role in achieving better infrastructure strength and reliability.

Widescale Application of Waterproofing Membrane in the Construction Industry

The demand for waterproofing membranes is expected to grow as the construction industry is flourishing. Waterproofing has witnessed a widescale adoption in the construction industry as people wish to prolong the sturdiness of a building. Building waterproofing prevents water leakage. Therefore, extensive waterproofing measures are added during construction to provide moisture control in the building. Waterproofing is also done after a building has been constructed or part of building improvement or renovation.

The waterproofing membrane industry is expected to witness growth due to the construction industry's increase. Waterproofing membranes provide an easy and cost-effective solution when a building shows signs of water damage. Waterproofing involves a variety of variables and steps to ensure the best integrity and longevity for your facility and the people who live inside.

Waterproofing membranes can safeguard any framework; basement or roof membranes can help reduce water damage. Long-term choices can save buildings from potentially expensive repercussions such as joint problems and cracking. Moreover, the type of membrane related to that specific application may be chemical or liquid, or it could be composed of different layers of prefabricated sheet membranes.

Global Waterproofing Membrane Market Restraint

Potential Health and Environmental Issues

Both waterproofing chemicals and membranes are hazardous to human health and the environment. Waterproofing membranes can be extremely dangerous to the user and nearby laborers if used in spray form. These chemicals could contain fluorinated compounds, which, if ingested, can directly cause lung trauma, pneumonitis, and other respiratory issues. While installing bitumen-based membranes, workers may be exposed to high-volatility toxic smoke. When inhaled in large quantities, such fumes can cause respiratory problems such as bronchitis.

Employees who have been with these companies for a long time, for example, reported more nasal and pharyngeal symptoms. A large number of roofers are at risk, particularly in developing countries. Regardless of the shift toward synthetic membranes, bitumen is still regarded as an essential component of other waterproofing membranes, posing a risk to roofers. Waterproofing membrane solvents, diluents, and other chemicals pollute the environment by emitting poisonous smoke and volatile organic compounds (VOCs). However, these parameters can be mitigated by using respirators, protective clothing, and environmentally friendly options.

Global Waterproofing Membrane Market Opportunities

Growing Interest in Green Roofs to Create New Market Opportunities

Waterproofing membranes do have disadvantages, including toxicity and VOC content. Eco-friendly solutions are provided and established by manufacturers such as Fosroc, Sika, and Tremco are used to overcome impediments. Manufacturers are progressively green-certifying their products for use in environmentally friendly construction projects like green roofs and green buildings. Green roofs are roof structures that are complete or partially vegetated.

Green roofs reduce energy costs, the urban heat island effect, stormwater, and air pollution. On the other hand, green buildings are energy-efficient and eco-friendly throughout their entire lifespan. Waterproofing these structures is essential for protecting them from water runoff and weather conditions while also offering energy efficiency. Green buildings are becoming more prevalent in countries such as Germany and the United States due to building emissions standards and the positive effect of these institutions. 

Regional Analysis

Region-wise, the global waterproofing membrane market share is segmented into North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. 

The Dominance of Asia-Pacific in the Regional Market

Asia-Pacific acquired the largest share of the global waterproofing membrane market. It is expected to reach USD 13.42 Billion by 2030, generating a CAGR of 7.5%. This share is accredited to the strong demand from the construction sector in China and India. The waterproofing membrane market in China appears to have a bright future, with opportunities in both residential and non-residential construction. The increasing construction activities and the cost-effectiveness of waterproofing membranes are the major growth drivers for this market. Emerging trends that directly impact the dynamics of the waterproofing membrane industry include the increased use of breathable waterproofing membranes and the increased use of eco-friendly materials. 

Europe is the second-largest region. It is expected to reach USD 9.2 billion by 2030, generating a CAGR of 5.9%. Rising concerns regarding water and waste management in Europe are anticipated to drive the demand for the waterproofing membranes market in the region. Eastern

Europe is expected to have a positive impact on construction spending. The fastest-growing countries in Eastern Europe include Poland and Russia, and Turkey. According to Committee for European Construction Equipment, the European construction sector is expected to witness +2.2% growth over the coming years. Revival of the construction industry and increasing investment in Eastern European economies are expected to positively impact liquid applied membranes market demand over the next seven years.

North America is a significant market for waterproofing, led by countries such as the United States and Canada, owing to increased urbanization and rising disposable incomes, particularly among the middle class. It is expected to reach USD 8.8 billion by 2030, generating a CAGR of 6.5%. The regional market is being driven by population growth and increased domestic manufacturing. Strong growth is being seen in the residential housing sector, particularly in single-family constructions, which catalyze the waterproofing industry's growth. The expansion of non-residential buildings and transportation improvements are the primary drivers of the waterproofing industry's growth in North America. 

Segmental Analysis

The global waterproofing membranes market share has been classified based on product, application, and region.

Product-wise, the global waterproofing membrane market is segmented into Liquid Applied Membranes and Sheet Membranes.

Liquid Applied Membrane occupied the largest market share in the global waterproofing membrane market. It is expected to reach USD 25.85 billion by 2030, generating a CAGR of 7%. These membranes offer decisive advantages over traditional waterproofing systems, mainly where seamless systems are desired, either aesthetically or structurally, which is anticipated to provide positive market growth over the forecast period.

Liquid Applied Membranes are further segmented as Cementitious, Bituminous, Polyurethane, and Acrylic.

Polyurethane is the most dominating segment. Polyurethane membranes feature uniform thickness, making their utilization easy across various applications. These membranes provide a monolithic application with no seams, and therefore there are no weaknesses for cracks to form. Multiple companies such as Maris Polymers, Saint Gobain Weber, and Alchimica Building Chemicals have developed polyurethane-based liquid-applied membranes. These membranes are typically utilized for waterproofing roofs, wet rooms, water and sewage treatment plants, stadium stands, bridges, and building foundation and retaining walls.

In terms of revenue, polyurethane liquid applied membranes are expected to register high growth because of superior product properties. The enhanced properties of polyurethane liquid applied membranes are anticipated to increase their utilization in the construction sector. In addition, growing infrastructure demand in regions such as Asia-Pacific and Central and South America is expected to boost the market growth.

The Sheet Membrane segment is estimated to reach USD 13.5 billion by 2030, registering a CAGR of 5.8%. The properties of bituminous sheet membranes, such as high tensile strength and durability, are anticipated to respond to market growth over the forecast period positively. Unreinforced PVC sheet membranes display high tear resistance properties, which is expected to drive their utilization in underground structures, swimming pools, and tunnels, thereby providing a positive scope for market growth over the forecast period.

Application-wise, the global waterproofing membrane market is segmented into Roofing, Walls, Building Structures, Landfills, and Tunnels.

Roofing occupied the largest market share in the global waterproofing membrane market. It is expected to reach USD 12.4 billion by 2030, generating a CAGR of 6.6%. The waterproofing membranes applicable for use in roofs have high thermal resistance and the capacity to withhold weight exerted by foot traffic. In the case of large areas, sheet membranes are generally preferred, whereas liquid applied membranes are selected in the case of smaller sizes. High demand for sheet membranes for roofs due to increased exposure to rainwater and environmental moisture is predicted to boost the market growth for the roofing segment over the next seven years.

The Building Structure is the fastest-growing segment. It is estimated to reach an expected value of USD 12.2 billion by 2030 at a CAGR of 7.3%. Building structures are applied to enhance the shelf life of the building and secure the system from fluctuating temperatures. Liquid applied membranes are highly advised for building structures compared to sheet membranes. These provide a high level of protection over the initial paint coat. Increased demand for the product in building systems is because of the high degree of waterproofing required for the application.

With many infrastructural projects in China, India, South Korea, Germany, the US, and France, the demand for waterproofing membranes, specifically liquid applied membranes, are likely to grow over the next seven years. In addition, the market is also expected to register notable gains on account of the extensive application scope of waterproofing in the segment.

Recent Developments

• May 2022 - Sika has gained United Gilsonite Laboratories (UGL) in the US, a well-developed manufacturer of products for consumer and DIY waterproofing uses. Their product portfolio is sold through the distribution platform and can be found in prominent retailers in the USA. The acquired firm perfectly complements Sika's high-value-added systems for concrete and masonry waterproofing and refurbishment. 
• May 2022 - BASF's water-blown polyurethane insulation spray foam is now used in the latest bus model by Kinglong United Automotive (Suzhou) Co., Ltd. (Suzhou Kinglong). Suzhou Kinglong, China's leading bus manufacturer, their part supplier Changzhou Tianshun Automotive Parts Co., Ltd. (Tianshun), and BASF collaborated to develop the 100% water-blown spray open-cell foam system Elastoflex® CE 3651/108. As verified with a testing report by PONY Testing International Group, the PU foam, which meets stringent VOC standards, provides better interior air quality in public transportation.