The global waterproofing membranes market is anticipated to witness a CAGR of approx. 9.2% during the forecasted period. In 2015, the global waterproofing membranes market accounted for $23.6 billion and is expected to reach $39.9 billion by 2022. Rising demand of waterproofing membranes from varied end uses such as waste & water management, roofing & walls, tunnel liners and building structures are majorly driving the global waterproofing membranes market. Growth in the construction industry is also one of the key driver that is propelling the demand for waterproofing membranes at global level. The growth in the construction sector is being witnessed owing to the increasing investment by government for infrastructure development as well as rising demand for residential building in the emerging economies. In 2014, the infrastructure spending within the US was around $700 billion which is expected to reach $975 billion by 2025. Increasing investments for the development of infrastructure will significantly impact the growth of construction industry which in turn boosts the growth of waterproofing membranes market. Construction industry is one of the largest customer for waterproofing membranes. Within the construction industry, the structure or building is waterproofed with the use of membranes in order to protect the content within or underneath as well as for protecting structural integrity. These membranes acts as a barrier between the building structure and water for preventing the passage of water. Increasing application of the waterproofing membrane products in mines along with the expanding mining activities is anticipated to drive the demand for waterproofing membranes during the forecasted period. Cost effective products owing to their low manufacturing cost are the key forces which are anticipated to propel the growth of the market in the upcoming scenario. Volatile raw material prices is expected to act as a key challenge in the growth of the waterproofing membranes market.
The global waterproofing membranes market can be segmented on the basis of end use, products and applications. On the basis of end use, the global market can be segregated into roofing & walls, waste & water management, bridges & highways, building structures, tunnel liners and other end uses. Building structures and roofing & walls were the largest end use segment wherein the waterproofing membrane products were applied in order to enhance the shelf life of the buildings and also to protect the structures from varying temperatures. In case of roofing, these membranes are being used on account of properties such as capability to withhold weight applied through foot traffic and excellent thermal resistance. In case of smaller areas, light applied products are preferred whereas in case of larger areas, sheet membranes are preferred. Generally liquid applied products are mostly preferred on walls in comparison to sheets owing to its lower cost as well as due to its aesthetic features. The global market can further be bifurcated on the basis of products including Bitumen, Polymers, Polymer modified cement and various others. Amongst the numerous products, Polymers holds the largest market share in the global waterproofing membranes market. Polymers comprises of TPO, Polyurethanes, PVC, EPDM and various other polymer membranes. Increasing polyurethane membrane usage due to wide availability of raw materials along with its enhanced properties including UV resistance, weather resistance, and also resistance to alkaline cleaners, battery acids and fuels are anticipated to have a significant impact on demand. In addition to, these are widely used on ramps, decks, podiums and car parks. Moreover, bitumen waterproofing membranes include APP bitumen (atactic polypropylene) and SBS (styrene-butadiene-styrene) bitumen. Bitumen are widely used for sealing purposes in buildings as well as in other structures. However, the application of bitumen has been banned in regions like North America due to the ill-effects it has on environment. This factor is anticipated to hamper the growth of bitumen waterproofing membrane segment in North America region.
The geographic analysis of waterproofing membranes market includes North America, Asia Pacific, Europe and RoW. In current times, Asia Pacific holds the largest market share of waterproofing membranes market in terms of volume in 2015. This market is emerging in numerous countries such as India and China owing to increasing industrial activity. The key forces that are influencing the usage of waterproofing membranes in Asia Pacific are impressive growth of the water management and construction industry. Moreover, North America is anticipated to witness high demand during the forecasted period due to increasing development in the mining and construction industry.
The key players of the global waterproofing membrane market include Carlisle Companies Inc., Soprema Group, BASF SE, Firestone Building Products Company, The Dow Chemical Company, GSE Environmental and Johns Manville. The major strategies adopted by the key market players include expansions, mergers & acquisitions and product launches. In 2014, Carlisle SynTec Systems (subsidiary company of Carlisle Companies Inc.) launched its newly advanced TPO membrane system Sure-Weld along with APEEL protective film in order to increase its innovative product offering to its customers at global level.