The market for waterproofing solutions is expected to grow at a CAGR of over 7% during the forecast period. Major factors driving the market studied are the rising infrastructural expenditure in Asia-Pacific and Middle East & Africa, and increasing usage in the mining industry.
- Roofing and walls application dominated the market and is expected to grow during the forecast period.
- Recovering South American construction industry is likely to act as an opportunity in the future.
- Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China and India.
Key Market Trends
Increasing Demand form Roofing and Walls Application
- Waterproofing solutions are mainly used in commercial and institutional applications, to prevent any kind of leakage in the building structure.
- Leakage in building, specially roofs, and walls has been a cause of concern due to water leakage from different parts of the building.
- Drainage slope of the roof is one of the most important factors. Each building plan must also incorporate a roof plan, indicating the position of drainage pipes and direction and extent of slope on the roof.
- PVC roofing systems have witnessed tremendous growth in the recent years, due to a variety of standout characteristics, notably, the longevity, durability in harsh weather and temperature extremes, low lifecycle costs, energy efficiency, heat and solar reflectance, flame resistance, chemical and grease resistance, ease of maintenance, ease and flexibility of installation, and inherent recyclability/re-use, among many other benefits.
- TPO roofing membranes are also used, as they are highly resistant to tears, impacts, and punctures, with good flexibility to allow for building movement. TPO membranes contain no toxic or hazardous ingredients and are fully recyclable.
- Modified bitumen is also used in roofing, as it provides superior waterproofing characteristics. These are usually installed as two-ply systems, and are always fully adhered.
- The usage of waterproofing solutions offers several benefits, such as superior fire and wind resistance, very high tensile strength, and waterproofing characteristics.
- The huge investment in the construction and infrastructure sector is poised to boost the demand for waterproofing solutions during the forecast period.
Asia-Pacific Region to Dominate the Market
- The construction industry, which includes buildings and floors, is expanding at a rapid rate globally, with exceptional growth in Asia-Pacific.
- This can be mainly attributed to an expanding population, resulting in the need for more residential and commercial buildings for various purposes.
- In addition, the demand for multistoried buildings in both developed and developing nations is another factor boosting the construction industry, which, in turn, is expected to have a positive impact on the waterproofing solution market.
- The demand for waterproofing solutions is increasing from roofing and piping in the Asia-Pacific region, due to the increase in commercial infrastructure projects in these regions.
The global waterproofing solutions market is a fragmented market. The major companies include Sika AG, BASF, Carlisle Cos. Inc, RPM International Inc., and GCP Applied Technologies Inc., among others.
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