Waterproofing Systems Market is Expected to Represent a Value of over US$ 85.9 Billion by 2027, Finds MarketsandMarkets™
The market for waterproofing systems is expected to reach USD 72.0 billion by 2025, at a CAGR of 6.4%, from an estimated USD 52.7 billion in 2020, according to the report, "Waterproofing Systems Market by Type (Waterproofing Membranes, Waterproofing Chemicals, and Integral Systems), Application (Building Structure, Roofing & Walls, Roadways, Waste & Water Management), and Region - Global Forecast to 2025." The expansion of the building sector is driving up demand for waterproofing systems in rising nations like APAC, MEA, and South America. The market for waterproofing systems is being challenged by the fluctuation in raw material prices. The demand for affordable and effective waterproofing materials is driving up the demand for waterproofing systems. The construction of green buildings and the rise in demand for environmentally friendly waterproofing systems present market expansion opportunities. On the other hand, the main market barriers are potential health and environmental problems.
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According to the application, the market for waterproofing systems as a whole is anticipated to be led by the building structure sector in 2020.
Building structure waterproofing offers efficient and long-lasting protection from these exposures and ensures that building structures are adequately protected. Building structures include spaces like balconies, basements, foundations, retaining walls, storage rooms, underground structures, and others that are not covered by a roof or a wall. Consumption of waterproofing systems in building structures is being driven by growth in demand for residential and commercial development in growing economies including China, India, Indonesia, Chile, Nigeria, and others.
During the forecast period, the waterproofing membranes segment is anticipated to dominate the market for waterproofing systems as a whole.
Materials called waterproofing membranes are used to keep water from penetrating any type of building construction. These are available as liquid-applied sheets. These systems offer improved strength, tear resistance, weathering resistance, UV stability, and elasticity to the applied surface. They are also simple to handle, simple to apply, highly effective, and flexible. They are employed in a variety of applications, including roofing and walls, building structures, waste and water management, tunnel liners, bridges, and highways.
According to predictions, the waterproofing systems market would be dominated by APAC in 2020.
According to projections, the market for waterproofing systems in APAC will develop the fastest. The market for waterproofing systems in APAC is being driven by the growing population, increased demand for housing, quick industrialization, and growing urbanization. The biggest market in the area for waterproofing systems is China. Due to its extensive manufacturing sector, China is a significant producer and consumer of waterproofing systems in the area. Apart from China, South Korea and India are anticipated to grow moderately during the forecast period.
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Sika AG (Switzerland), BASF SE (Germany), Soprema (France), GCP Applied Technologies (US), Fosroc (UK), Mapei S.P.A. (Italy), Carlisle Construction Company (US), Tremco (US), Pidilite Industries (India), and Henkel Polybit are some of the leading companies in the waterproofing systems market. By implementing methods including expansions, mergers & acquisitions, agreements & partnerships, and new product releases, these players have gained a solid presence in the market.
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