Technological Advancements in Waterproofing Systems: A Game Changer for the Construction Industry| MarketsandMarkets™
Waterproofing systems are a form of building material that is used to seal and protect a structure against water infiltration. Waterproofing systems protect a structure from water damage caused by rain, flooding, and other types of moisture. These systems are intended to keep water from entering the structure and causing structural damage, mold, and other issues. Waterproofing systems are often constructed of a combination of materials such as rubber, plastic, or asphalt and can be applied to both the interior and exterior of a structure. The Waterproofing Systems Market size is estimated at USD 61.3 billion in 2022 and is projected to reach USD 85.9 billion by 2027, at a CAGR of 7.0%, during the forecast period.
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Based on the application, the building structures segment is estimated to lead the overall waterproofing systems market in 2022.
The building structures sector is expected to lead the overall waterproofing systems market, owing to rising demand for waterproofing systems in building structures such as roofs, walls, basements, and foundations. The requirement to safeguard buildings from water damage is critical to preventing the degradation of building materials, which is likely to boost segment demand throughout the forecast period. Furthermore, increased public and private investment in the construction sector is expected to fuel the segment's growth.
Based on type, the waterproofing membranes segment is projected to lead the overall waterproofing systems market during the forecast period.
The waterproofing membranes segment is expected to lead the overall waterproofing systems market in terms of value throughout the forecast period. The increasing need for waterproofing membranes in the building and construction industry, as well as their superior performance qualities such as resistance to water, moisture, and air, is driving the expansion of this category. Furthermore, waterproofing membranes are used in a variety of applications such as roofing, walls, foundations, and so on, which increases their demand.
Based on region, Middle East & Africa is projected to be the second-fastest growing segment.
The Middle East and Africa region is expected to develop at the second-fastest rate in the waterproofing systems market. This expansion can be attributed to a variety of factors, including an increase in demand for waterproofing systems in construction activities, particularly in countries such as Saudi Arabia, the United Arab Emirates, and South Africa, to protect buildings and infrastructure from water damage during extreme weather conditions. Furthermore, the region's increasing emphasis on infrastructure development, particularly the construction of highways, bridges, and tunnels, is expected to drive demand for waterproofing systems. Furthermore, the increasing use of waterproofing systems in the mining industry to protect underground structures from water seepage is expected to drive regional market growth.
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During the forecast period, Asia Pacific is expected to be the largest market for waterproofing systems in terms of both value and volume. Due to increased infrastructure projects such as bridges, roads, and buildings in nations such as India, China, and South Korea, the area is predicted to have the greatest CAGR during the forecast period. Increased investments in infrastructure and construction activities are likely to fuel the regional market for waterproofing systems.
The key players in the market for waterproofing systems are Sika AG (Switzerland), Soprema (France), GCP Applied Technologies (US), Fosroc (UK), Mapei S.p.A (Italy), Carlisle Construction Company (US), Tremco (US), Pidilite Industries (India), Henkel Polybit (UAE) and others.
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