Waterproofing Membrane Market to Record Sturdy Growth | 2024
Waterproofing
is a necessary activity as it helps in maintaining the structural
integrity of a foundation. Due to their superior water-resistant
performance, waterproofing membrane finds application in a number of
end-user industries, including construction, civil, transportation,
and water and wastewater treatment. These membranes are made of up of
different types of materials such as modified bitumen, ethylene
propylene diene monomer (EPDM), thermoplastic polyolefin (TPO),
polyvinyl chloride (PVC), high-density polyethylene (HDPE), and
low-density polyethylene (LDPE). The flourishing growth of end-user
industries, especially in emerging economies, is one of the primary
factors augmenting the global market for waterproofing membranes. The
report is a professional study encompassing all the important aspects
of the waterproofing market, including its dynamics, geographical and
application segmentation, and vendor landscape.
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Report Overview @
Waterproofing
membrane offers various benefits such as energy efficiency,
cost-effectiveness, high durability, and heat resistance. These
benefits are driving their demand for applications such as roofing
and building structures. The booming construction industry in China
and other emerging countries is also working in favor of the market.
The rapidly growing population in developing countries is leading to
increase in residential construction projects. Moreover, the soaring
global demand for waterproofing in the mining sector is stoking the
growth of the market.
However,
the sluggish growth of the construction industry in Europe is
restricting the global waterproofing membrane market from realizing
its utmost potential. On the other hand, the rapid urbanization in
developing regions such as Asia Pacific and Latin America are
creating a strong need for water and waste management activities,
which in turn is unfolding ample growth opportunities for the overall
market.
From
the geographical standpoint, the report segments the global
waterproofing membrane market into North America, Europe, Latin
America, Asia-Pacific, and the Middle East and Africa. Asia Pacific
will account for a substantial share in the global market. The rising
urban population is providing a significant push to the construction
and wastewater management industry, which in turn is triggering the
demand for waterproofing membrane in the region. Emerging countries
such as India and China will be at the forefront of the growth of the
region.
North
America will also be a strong contender in the global arena. The
flourishing growth of the construction and mining sectors is the
primary factor driving the growth of the region. The Middle East and
Africa market is anticipated to hold immense potential. The
increasing exploration and production of crude oil are translating
into the greater uptake of waterproofing membrane in the region. The
growth of Europe can be attributed to the increasing concerns
regarding water and waste Management.
Players
in the global waterproofing membrane market need to focus on the
expansion of product portfolio to ensure sustainable growth. For
this, key players are banking on strategies such as mergers and
acquisitions and product innovation. Moreover, market participants
are pouring hefty funds into research and development activities to
stay ahead. The immense potential of the market is encouraging new
players to foray into the market. However, stringent government
regulations are creating high barriers for new entrants.
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Some
of the prominent companies operating in the global waterproofing
membrane market are Carlisle Companies Inc., The Dow Chemical
Company, GAF Materials Corporation, BASF SE, Siplast, Johns Manville,
W. R. Meadows Inc., Firestone Building Products Company, Soprema
Group, and Sika AG.
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