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Waterproofing Market Growth Analysis | 2023-2028
Waterproofing Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023-2028
The waterproofing market is estimated to grow at a healthy CAGR of 5% during 2023-2028 to reach a value of USD 56 billion in 2028.
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Waterproofing materials act as a barrier, preventing the penetration of water into the structure to make it long-lasting and protect against water damage. Besides increasing the lifespan of the structure, it also improves its aesthetic value, reduces the cost of repair and maintenance, and may also improve the energy efficiency of the buildings and structures. It has a wide range of applications in the construction industry, including roofs, foundations, basements, walls, tunnels, bridges, swimming pools, parking structures, industrial structures, etc.
Over the years, the construction and infrastructure industries have rapidly deployed various new building materials that have an effective role in safeguarding structures, comfortable living, and improved service life. The waterproofing industry is set to outperform the construction industry with an increasing emphasis on enhancing building energy efficiency in response to tighter building energy codes.
COVID-19 Impact
The global waterproofing market has crossed the US$ 30 billion mark over the past few years and was one of the minimally impacted industries with the downturn of the COVID-19 pandemic in 2020, thereby witnessing a strong comeback over the past two years.
Ever-growing real-estate and public infrastructure developments have given impetus to the waterproofing industry, which is also reflected in statistics published by industry associations across various economies. For instance, as per data from the China Building Waterproofing Association, the output of building waterproofing materials grew from 1.36 billion square meters in the year 2012 to 2.52 billion square meters in 2020.
The waterproofing industry has relatively low capital investment, is less technology-intensive, mature, and easy production process, and has an overall entry threshold, which makes it easier for small and mid-sized companies to enter the industry making it a highly fragmented industry. Increasing concentration on quality structures and the growing construction and infrastructure industries are accelerating the demand for waterproofing materials.
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The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. The market is highly fragmented, with hundreds of players competing at the regional and international levels.
The following are the key players in the waterproofing market are as follows (arranged alphabetically):
Note: The above list does not necessarily include all the top players in the market.
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Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
|
Material Type |
Bitumen, PU, Cementitious, EPDM, and Others |
Bitumen is expected to remain the most preferred material during the forecast period. |
|
Product Type |
Sheet Membrane, Liquid Membrane, and Coating, |
Sheet Membrane is likely to remain the largest segment by product type in the years to come. |
|
Application Type |
Roofing & Walls, Building Structures, Industrial, Water & Wastewater Management, Tunnels, and Others |
Roofing & Walls are expected to maintain their dominance during the forecasted period. |
|
End-User Type |
Commercial, Residential, and Others |
Commercial end-user segment to dominate the market during the study period. |
|
Construction Type |
New Construction, and Repair & Renovation |
Repair & Renovation to dominate the market during the study period. |
|
Regional Analysis |
North America, Europe, Asia-Pacific, and the Rest of the World |
Asia-Pacific is expected to remain the largest market over the next five years and is also likely to grow at the fastest rate. |
“Bitumen holds supremacy in the global waterproofing market across the major regions.”
Bitumen membranes are known for their versatility and can be customized to meet specific requirements of surface, climate, and application area. Furthermore, it is a cost-effective solution compared to other waterproofing materials such as PU, EPDM, and TPO, making it a perennial choice of material. In some countries, bitumen accounts for more than 80% share of roof waterproofing.
“Sheet membranes are expected to maintain their dominance during the forecast period.”
The market is segmented into sheet membrane, liquid membrane, coatings, and integral. Sheet membranes are expected to maintain their dominance during the forecast period, driven by durability, cost-effectiveness, resistance to aggressive ground conditions as well as UV exposure conditions, and excellent barriers against moisture and water ingress with a typical thickness range of 2mm to 4 mm.
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“The roofing & walls segment dominates the market.”
The market is segmented into roofing & walls, building structures, industrial, water & wastewater management, tunnels, and others. The roofing & walls segment dominates the waterproofing market, driven by factors such as increasing demand for sustainable and eco-friendly exteriors, and government regulations and building codes. The emergence of green roofs, involving the installation of layers of soil and vegetation on the roof surface, leads to improvements in roof insulation and water tightening requirements.
“Asia-Pacific is expected to remain the largest market.”
In addition to that, the region is also likely to witness the highest growth in the coming years. Major factors, such as increasing construction activities owing to rapid urbanization and industrialization, promising growth in the economy, a shift of manufacturing industries from Western Economies to Asian economies, and mandates of building and energy codes, are driving the growth of the waterproofing market in the region. China, India, South Korea, Japan, and Thailand are the key economies playing a vital role in the region’s market.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s waterproofing market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our waterproofing market report from the industry stakeholders, we have tried to further accentuate our research scope to the waterproofing market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The waterproofing market is segmented into the following categories:
By Material Type
By Product Type
By Application Type
By Construction Type
By Region
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With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research:
Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
Waterproofing materials act as a barrier, preventing the penetration of water into the structure to make it long-lasting and protect against water damage. Besides increasing the lifespan of the structure, it also improves its aesthetic value, reduces the cost of repair and maintenance, and may also improve the energy efficiency of the buildings and structures. It has a wide range of applications in the construction industry, including roofs, foundations, basements, walls, tunnels, bridges, swimming pools, parking structures, industrial structures, etc.
The waterproofing market is estimated to grow at a healthy CAGR of 5% over the next five years to reach a value of US$ 56 billion in 2028. Mandates by building codes and regulations, growing construction and infrastructure spending, and advancements in waterproofing technology are some key factors fueling market growth.
The waterproofing market is estimated to reach a value of USD 56 billion in 2028.
Oriental Yuhong, Sika AG, Keshun Waterproofing Technologies, MBCC Group, Saint-Gobain, Hongyuan Waterproof Technology Group Co., Ltd., Carlisle Companies, Inc., and RPM International are some of the key players in the market.
Asia-Pacific is likely to remain dominant in the market during the forecast period, owing to rising urbanization and industrialization, increasing awareness of energy efficiency in the construction industry, and promising economic growth.
Bitumen is likely to maintain its dominance in the market in the next five years owing to its low cost coupled with desired performance, high versatility, and ease of application.
Sheet membranes are expected to maintain their dominance during the forecast period, driven by durability, cost-effectiveness, resistance to aggressive ground conditions as well as UV exposure conditions, and excellent barriers against moisture and water ingress with a typical thickness range of 2mm to 4 mm.
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