The global Waterproofing Membranes Market size is expected to reach USD 34.61 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to grow at a CAGR of 6.4% from 2021 to 2028. The growing advancement in infrastructure and construction activities, coupled with a rise in demand for wastewater and water management, is expected to drive the market.
Adoption of wastewater techniques for water
conservation and reuse is increasing owing to the rising demand for portable
water resources across the globe. In addition, increasing government support to
promote and adopt a wide array of waste management and water
treatment initiatives is expected to boost the demand for the product during
the forecast period.
Biomembranes are expected to witness a high adoption
trend in the coming future owing to the increasing product demand in green
building construction. In addition, government support to replace old buildings
with new ones is opening new growth avenues for the construction industry, in
turn, adding growth to the overall market.
The market is highly dependent upon the dynamics of
the raw material supply chain. Although all types of products including
cementitious, bituminous, and polyurethane are used for manufacturing
waterproofing membranes, cementitious liquid applied membrane and bituminous
sheet membranes are the most commonly used waterproofing membranes in the
market.
The industry exhibits several mature players
controlling a significant market share. However, increasing competition from a
large number of small and local manufacturers from the Asia Pacific region is
expected to boost the market competition. The market players put high stress on
using sustainable raw materials to ensure an environmentally friendly image to
their clients.
Related Press Release@ Waterproofing Membranes Market Report
Waterproofing Membranes Market
Report Highlights
- By product, liquid applied membranes are expected to register the
fastest revenue-based CAGR from 2021 to 2028 on account of their
thermal-reflective properties for any exterior surface application
- Polyurethane liquid applied waterproofing membranes are expected to
expand at the fastest revenue-based CAGR of 8.4% during the forecast
period owing to seamless finish and easy and fast installation procedure
- The roofing application segment accounted for the largest revenue
share of over 31.0% in 2020 owing to its high exposure to changing
climatic conditions and leakages across residential, commercial, and
industrial buildings
- Asia Pacific is projected to register the fastest CAGR in terms of
revenue owing to increasing investment in residential and commercial
construction due to rapid industrialization and the growing population
- The majority of the manufacturers have started emphasizing the use
of sustainable and corrosive protective raw materials for producing
waterproofing membranes to increase their market presence. In addition,
growing infrastructure in the developing markets of China, India, and
Brazil is adding rapid growth to the construction sector, thereby offering
growth prospects to the market
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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