Increasing construction spending coupled with growing importance to protect foundations, and slabs is expected to drive waterproofing membranes market growth
Waterproofing membrane market size is forecast to hit 3.23 billion square meters at a growing CAGR of 6.6% from 2015 to 2022. Surge for durable and good quality construction material is projected to drive this market in the near future.
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Waterproofing membranes are used in various applications such as building structures, roofing & walls, bridges, highways waste & water management owing to their durability, low installation cost and labor requirements, lightweight nature, environmental resistance properties. Depending on the type, the market can be broadly segmented into TPO, modified bitumen, EPDM, PVC, LDPE, HDPE, among others.
Modified bitumen is accounted as the key segment and is projected to register substantial growth at an expected CAGR of more than 6.5% during the projected period. TPO is a budding membrane type and is poised to open avenues in membrane industry in the long term. This type is the rapidly-growing commercial roofing membrane and is gaining wide industry acceptance for its installation benefits, performance, and reasonable cost. Eco-friendly chemistry, durability, recyclability, low installation cost, flexibility, exceptional heat resistance, and less labor requirement, are some of other properties making it a preferred option.
The roofing application segment of this market has a wide span for development and is likely to further the consumption of membranes, globally. Surge in demand from developing countries drives this market in manifold potential applications.
Technological advancement, merger & acquisitions, innovations and expansion are the key strategies to widen the scope of the market. The research report by Global Market insights Inc. is in-depth analysis of waterproofing membranes market trend; the report projects its demand and market value and estimates the expected demand and market size during the anticipated time frame. The report features the quantitative analysis with the global market segmented by applications and types on a regional scale with current market forecast and estimation till 2022.
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The Asia-Pacific region dominated the market segment and is expected to continue its dominance over the projected period owing to expanding waterproofing membrane manufacturing base in the region. Rapid growth in building & construction, and waste & water management industry of Asia-Pacific is likely to propel the growth. The countries covered in the report are the Europe, Asia Pacific region, U.S.
The report offers qualitative analysis with a comprehensive overview of key factors influencing the market like restraints, drivers, challenges, opportunities and winning imperatives. It also lists company profiles of key market players coupled with key competitive strategies adopted by top market participants including DuPont, Sika AG, Kemper System America, Inc., Paul Bauder GmbH & Co. KG, Fosroc Ltd., CICO Technologies Ltd and GAF Materials Corporation.