“Waterproofing Membranes Market is estimated at USD 33.5 billion in 2020 and is projected to reach USD 38.8 billion by 2025, at a CAGR of 5.4%.
The companies listed below:
- Sika (Switzerland), Tremco (US), BASF (Germany), Soprema (France), GCP applied technologies (US), Fosroc (UK), Mapei (Italy), Carlisle Construction Company (US), Johns Manville (US), and Renolit (Germany)
COVID-19 impact on Global Waterproofing Membranes Market
The waterproofing membranes are used mainly in the construction industry. COVID-19 has severely impacted this industry.
- The lockdown in various countries and logistical restrictions have adversely impacted the construction industry. Supply chain disruptions, workforce unavailability, logistical restrictions, limited availability of components, demand drop, low company liquidity, and shutdown of manufacturing due to lockdown in various countries have adversely affected the industry. Raw material suppliers and other related businesses are forced to re-evaluate their strategies to cater to this industry during this crisis period.
- Residential and commercial construction has come to a grinding halt owing to the pandemic. Waterproofing membranes demand from this sector is expected to be low to the medium during this crisis period. Some major issues would be a delay in order shipments, supply chain restriction, manpower & equipment shortage, and material shortage. Post conclusion of this crisis, the market is expected to revive, and demand is likely to increase for the waterproofing membranes market.
- The demand for construction activities has increased in the healthcare sector, owing to the pandemic. A rise in demand for new hospitals and care institutions have provided some stability to the construction sector thus driving the waterproofing membranes market
Sika AG (Switzerland) is one of the leading manufacturers and distributors of waterproofing membranes. The company adopted mergers & acquisitions as one of its key business strategies. For instance, in June 2020, the company acquired Modern Waterproofing Group, a leading manufacturer of roofing and waterproofing membranes in Egypt. It was an addition to the product portfolio of Sika Egypt and offered new opportunities for growth in the Egyptian construction market. The acquired business generates annual sales of USD 28.5 million.
GCP Applied Technologies (US) one of the largest manufacturer of construction products globally. The company is among the key players in the waterproofing membranes market. The company adopted the strategies of merger & acquisition as a key startegy to strengthen its competitiveness in the global waterproofing membranes market. For instance, in 2017 the company has expanded the production capacity of its manufacturing plant in Mt. Pleasant, Tennessee. The facility manufactures GCP’s industry-leading Prepruf
Based on the type, the liquid-applied membranes segment is estimated to lead the overall waterproofing membranes market in 2020.
Waterproofing membranes reduce the ingress of water in a building structure. The liquid-applied membranes segment accounts for the larger share in the global waterproofing membranes market. The demand for these membranes is rising rapidly, owing to their environment-friendly properties and easy applicability. Liquid waterproofing membranes are easy to handle and replace and provide efficient waterproofing and longer lifespan of a building structure.
Based on the usage, the new construction segment is estimated to lead the overall waterproofing membranes market in 2020.
Based on usage, the waterproofing membranes market is segmented into new construction and refurbishment. The new construction segment accounted for the larger market share in 2020. The growth can be attributed to the regulations for new construction, infrastructural developments, industrialization, and urbanization in emerging economies.
Based on application, the building structure to be the largest consumer of waterproofing membranes.
Building structures are areas excluding roofs and walls such as balconies, basements, foundations, retaining walls, storage rooms, belowground constructions, and others. Building structures are often exposed to stresses such as water exposure, water stresses, groundwater chemical exposures, unequal static forces, temperature variations, biological influences, and others. Waterproofing of these structures provide effective and long term protection form these exposures and ensure efficient protection of building structures.
Based on region, APAC is estimated to lead the waterproofing membranes market in 2020.
The waterproofing membranes market in APAC is projected to register the highest CAGR during the forecast period. The building structures market in APAC is driven by the growing construction industry, increased consumer spending, and strong economic growth.