Waterproofing Membranes Market Size, Share & Trends Analysis Report By Product (Liquid Applied, Sheet (PVC, EPDM)), By Application (Roofing, Building), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global waterproofing membranes market size was estimated at USD 23.18 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.1% from 2023 to 2030. Growing demand from the waste and water management sector coupled with the increasing development in water conservation infrastructure is anticipated to positively impact the growth. Additionally, uneven distribution of water precipitation both geographically and seasonally increases the need for water conservation, transportation, and treatment.

Waterproofing membranes find a wide array of uses including wet rooms, roofs, water & sewage treatment plants, retaining walls, building foundations, and tunnels. Rising consumer consciousness regarding the product advantages along with the adoption of new materials such as geo membranes is expected to further propel the product demand over the projected time.

The U.S. is expected to be the largest market for waterproofing membranes in North America. Rapid industrialization on account of increasing construction projects and housing developments is expected to fuel the demand for sheet membranes in the region. Furthermore, growing consumer preference towards increasing the shelf life of paint jobs on buildings is expected to drive the sheet membrane market in the region.

Factors including low manufacturing costs coupled with rising mining activities in various regions are likely to increase the utilization of the product in the forthcoming years. In addition, the increasing trend of the wastewater management market is likely to augment the product demand over the forecast period.

Several regulations have been enforced for the production and use of waterproofing membranes. For instance, use for various applications, including designing and installing membranes, and flashings located in kitchens, bathrooms, and laundries located in residential buildings should be made and tested as per AS/NZS 4858:2004, wet area membranes.

However, the market is subjected to the lack of experts regarding the use of the right type of membrane for durable structures such as basements, decks, watercraft, and others. This is expected to act as a restraint for the market during the forecast period. In addition, fluctuating raw materials prices of polypropylene and bitumen obtained from crude oil further restrict the market growth.

Product Insights

The liquid applied membrane product segment led the market and accounted for more than 63.9% share of the global revenue in 2022. The growth can be attributed to the growing awareness about the advantages of the product such as cost-effectiveness and ease of installation.

In addition, increasing global infrastructural in terms of water conservation and treatment is expected to rise the demand for the liquid applied membrane during the fore coming period. In terms of region, Asia Pacific, North America, and Europe have been the largest markets for liquid applied membranes; however, Asia Pacific is projected to emerge as the fastest-growing regional market over the forecast period, followed by Europe.

Polyurethane liquid applied membrane is expected to grow at a significant rate of 9.1% in terms of revenue during the forecast period. It features uniform thickness making its utilization easy across various applications. These membranes are typically utilized for applications such as the waterproofing of roofs, wet rooms, water & sewage treatment plants, and stadium stands.

Demand for the bituminous liquid membrane is expected to grow at a CAGR of 7.3% in terms of volume over the projected period, owing to its unique properties such as high resistance to weathering and aging. It increases product viability in terms of flexibility at low temperatures, high UV resistance properties, and improved flow resistance at high temperatures.

Polyvinyl chloride membrane is expected to achieve a notable market share in 2022 and is likely to register a prominent share over the forecast period owing to the product advantages such as resistance to UV radiation and precipitation.

In addition, the product’s ability to withstand heavy loads is expected to add growth prospects to the market. Various advantages of PVC membranes such as resistance to precipitation, UV radiation, and ability to withstand heavy loads are anticipated to provide positive scope for product demand over the forecast period.

Application Insights

The roofing application segment held the largest revenue share of 31.8% in 2022. The growth can be attributed to its rising application in the Asia-Pacific region for residential housing construction. In addition, demand for sheet membranes for roofs due to high exposure to rainwater and environmental moisture is expected to drive the growth of the roofing segment over the next seven years.

The building structure is expected to witness a CAGR of 7.8% in terms of revenue over the forecasted period which can be attributed due to its application in buildings to improve the shelf life and protection at varying temperatures. In addition, the increasing use of sheet membranes for flooring in buildings is expected to contribute to growth prospects.

Landfill and tunnels accounted for USD 2.04 billion in 2022 and is expected to witness substantial growth during the forecast period owing to the rise in demand for cleaning methods in the tunnels. Rising demand for waterproofing membranes in developing countries on account of increasing industrial activity which in turn leads to a rising amount of waste is expected to drive the market growth on a positive note.

Other application segments of the waterproofing membrane include usage in wet rooms, kitchen floors, bathrooms, and areas surrounding the swimming pool. In addition, increasing awareness such as long-term cost-effectiveness and risk mitigation by applying waterproofing membrane is further expected to add positive growth to the market.

Regional Insights

Asia Pacific accounted for the largest revenue share of 32.1% in 2022. The growth can be attributed to the growing infrastructural developments and rapid industrialization, especially in China and India. In addition, the trend will increase the congestion in the city which in turn will increase the demand for utilities in a domestic application for water requirement, thus adding growth to the market. In addition, the rising roofing and waste management industries are driving regional growth. The use of waterproofing membranes in mining application is further expected to fuel the growth.

The market in North America was estimated to be USD 5.29 billion in 2022 and is expected to grow at a significant rate over the forecast period, which can be attributed to the rise in construction activities in Mexico and Canada. In addition, rising investment in warehouse construction for the healthcare, retail, and automotive application industry requiring waterproofing solutions is positively impacting the industry’s growth.

The product demand in Europe is dominated by product penetration in advanced countries such as the U.K., Germany, and France. In addition, the increasing adoption of waste management and water conservation demanding liquid applied and sheet membrane products in residential & buildings is further expected to increase the product demand in the region over the forecast period. Revival of the construction industry coupled with increasing investment in Eastern European economies is expected to have a positive impact on liquid applied membranes market demand over the forecast period.

The demand for waterproofing membranes in Central & South America is likely to witness a CAGR of 7.0% in terms of volume from 2023 to 2030. In addition, the investment in infrastructural projects by various regional governments is expected to boost the commercial and industrial application segment requiring waterproofing solutions, thereby, further fueling the market growth.

Key Companies & Market Share Insights

The market has been characterized by integration through raw material procurement and waterproofing membrane manufacturing. The companies through mergers & acquisitions, capacity expansion, partnerships, and others are trying to increase their sales to facilitate the respective market across the globe.

A large set of companies are involved in waterproofing membrane manufacturing which makes the market highly competitive. Major companies operate their business through a dedicated distribution network to differentiate themselves in the value chain and against competitors. Some prominent players in the global waterproofing membranes market include:

• BASF SE

• Kemper System America, Inc.

• GAF Materials Corporation

• Paul Bauder GmbH & Co. KG

• CICO Technologies Ltd.

• Fosroc Ltd

• GAF Materials Corporation

• Alchimica Building Chemicals

• Maris Polymers

• Isomat S.A.

• Bayer MaterialScience AG

Recent Developments

• In January 2023, Saint-Gobain announced the acquisition of Brazil’s Matchem, along with an agreement to acquire the Egypt-based IDP Chemicals. The acquisitions are aimed at strengthening Saint-Gobain’s position in the construction chemicals space, with both the acquisitions becoming a part of the Construction Chemicals segment in High-Performance Solutions

• In May 2023, ISOMAT participated at the CONSTRUMAT international trade fair held in Barcelona, Spain to promote its products targeted towards the construction industry. These include advanced polyurethane and polyurea (hot- & cold-applied) waterproofing and coating systems for flat roofs, balconies, and terraces; integrated waterproofing solutions for green roofs; and tiling, waterproofing, and grouting systems for large-format tiles and natural stone, among other solutions

• In May 2023, ALCHIMICA announced the development of the Humidity Activated Accelerator Technology (HAA) technology, through the combination of ACCELERATOR-3000A and HYPERDESMO. The formulation enables the formation of a membrane that is defect-free and possesses strong elastomeric and mechanical properties

• In October 2022, Sika South Africa announced the acquisition of a majority stake in the Verona, Italy-based Index Construction Systems and Products. The company is a notable manufacturer of roofing & waterproofing systems, and has helped expand Sika’s bitumen product portfolio and its position in Italy and abroad

• In May 2022, Sika completed the acquisition of the U.S.-based United Gilsonite Laboratories (UGL), a leading name in the consumer & DIY waterproofing application space. The development will help Sika take advantage of the rising trend in the construction segment of the demand for watertight basements in commercial and residential settings

• In April 2022, Pidilite Industries Limited announced a partnership with GCP Applied Technologies Inc., with the objective of offering high-performance waterproofing solutions at sites facing high-temperature variation. The solutions would come under the umbrella of Pidilite’s noted brand, Dr.Fixit, which is itself a leader in the waterproofing segment in India

• In March 2022, Maris announced the expansion of its R&D facilities, along with enhancing its technical assistance capacity. The development was aimed at improving the delivery of innovative solutions for new construction and renovation projects, while accounting for sustainability and keeping pace with technological advancements

Waterproofing Membranes Market Report Scope

Global Waterproofing Membranes Market Report Segmentation

This report forecasts revenue and volume growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global waterproofing membranes market report based on product, application, and region:

• Product Outlook (Volume, Million Square meters; Revenue, USD Million, 2018 - 2030)

  • Liquid Applied Membranes

    • Cementitious

    • Bituminous

    • Polyurethane

    • Acrylic

    • Other

  • Sheet Membranes

    • Bituminous

    • Polyvinyl Chloride (PVC)

    • Ethylene Propylene Diene Monomer (EPDM)

    • Other

• Application Outlook (Volume, Million Square meters; Revenue, USD Million, 2018 - 2030)

  • Roofing

  • Walls

  • Building Structure

  • Tunnel & Landfills

  • Other

• Regional Outlook (Volume, Million Square meters; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa