Waterproofing Membranes Market: Key Highlights
·
The
global waterproofing membranes market was
valued at ~US$ 19 Bn in 2018 and is anticipated to
expand at a CAGR of ~7% during the forecast period.
·
The
global waterproofing membranes market is primarily driven by growth in the
construction industry and rise in the need to improve the quality of
construction. Emerging and developed economies across the globe are carrying
out infrastructure developments such as roadways, railroads, and river bank
protection projects to sustain economic growth. These civil construction
projects boost the consumption of waterproofing membranes, which are commonly
accepted as durable and long-lasting products.
Key Drivers of Waterproofing Membranes Market
·
Waterproofing
membranes are extensively employed in commercial, residential, and industrial
structures, as these protect surfaces from harsh climatic conditions.
Macroeconomic factors such as improvement in economic conditions in developing
countries, growth in purchasing power, and recovery of Europe from the debt
crisis are boosting the consumption of waterproofing membranes. End users of
waterproofing membranes, such as construction, mining, roofing, and landfills &
tunnels, have been expanding their business substantially since the last few
years.
·
Waterproofing
is paramount to the success of green roofs. Waterproofing membranes help
prevent the entry of water into a building and act as barrier against damage
from root penetration. These membranes also provide better tolerance to high
temperature, roof drainage falls, airtightness, and vapor control to buildings.
These factors are estimated to make waterproofing membranes vital for the
protection of overall structures, in order to protect these overall structure
of green roofs against puncture and imperviousness to water.
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Global Waterproofing Membranes Market:
Liquid-applied Membranes to Offer Attractive Opportunities
·
In terms
of type, liquid-applied membranes was a highly attractive segment of the global
waterproofing membranes market in 2018. The segment is expected to
maintain its attractiveness during the forecast period, due to their easy
availability and low production cost.
·
Liquid-applied
membranes are sprayed or applied by a brush or roller to the surface that needs
to be waterproofed. These membranes have elongation properties, durability,
flexibility, abrasion, and chemical resistance, which makes them ideal for
waterproofing.
·
Liquid-applied
membranes help extend the service life of structures such as car parks,
balconies, podium decks, and green roofs. The major advantage of liquid-applied
membranes over other membranes is lack of joint-free process, as there is no
likelihood of leakage of water, unlike in roll sheet membranes and other
waterproofing methods.
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Fluctuation in Prices of Raw Materials to Hamper
Waterproofing Membranes Market
·
Gasoline
is the primary raw material used in the production of bitumen waterproofing
membranes. The demand for gasoline is still declining. This has adversely affected
the supply of bitumen and asphalt. Furthermore, the high cost of manufacturing
techniques, such as the oxidation process, has led to an increase in the
production cost of bitumen-based waterproofing membranes. These factors are
estimated to hamper the global waterproofing membranes market during the
forecast period.
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Europe Dominates Waterproofing Membranes Market
·
In terms
of region, Europe accounted for a prominent share of the global waterproofing
membranes market in 2018. It is expected to remain a highly
lucrative region during the forecast period, due to rapid industrialization and
rise in the demand for waterproofing products in roofing and water & waste
management sectors in the region.
·
Rise in
regulations on the requirements of new buildings in Europe is expected to drive
the demand for waterproofing of structures in order to ensure their durability.
This is anticipated to propel the lifespan of buildings. Increase in GDP and
growth in investments in industrial and commercial sectors are estimated to
boost the construction sector in the region in the next few years.
Top Five Players Account for Key Share of Global
Waterproofing Membranes Market
·
The
global waterproofing membranes market is highly moderately fragmented, as a
large numbers of small players operate in the market. Currently, the global
waterproofing membranes market is expanding at a steady pace. Key players are
largely focusing on research and development activities. The top five
players - BASF SE, Sika AG, The Dow Chemical Company, Fosroc International
Ltd, and Carlisle Companies Inc. - cumulatively accounted for ~40% share
of the global market in 2018.
·
BASF SE
constituted a leading share of the global waterproofing membranes market
in 2018. The company offers more than 100 types of waterproofing
membranes. Its offices and manufacturing sites are located in almost every
major city across the globe. The company invests in expanding its product
portfolio in order to maintain its leading position in the market.
·
In May
2019, BASF SE introduced the Ucrete UD200 SR flooring system. Ucrete UD200
SR is a heavy-duty, trowel-applied polyurethane concrete floor system
formulated for use in wet-process applications, and wherever slip-resistant
floors are required.
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