The report “Waterproofing Membranes Market by Raw Material, Type (Liquid Applied, Sheet Based), Usage (New Construction, Refurbishment), Application (Building Structure, Roofing, Roadways, Waste & Water Management, Walls), and Region- Global Forecast to 2025″, The global waterproofing membranes market size 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%
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Browse 124 market data Tables and 40 Figures spread through 189 Pages and in-depth TOC on “Waterproofing Membranes Market “
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
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.
The recent COVID-19 pandemic is expected to impact the global construction industry. COVID-19 led the construction industry into an unknown operating environment, globally. Government restrictions on the number of people that can gather at one particular place, severely impacted the industry. E.g., the US construction industry relies heavily on imports for materials such as steel, copper, aluminum, stone, and fixtures, especially from China. Logistical constraints, manpower shortages, and government restrictions have forced many of these suppliers of raw materials to close down, hence, disrupting construction activities in the US. Similarly, economies such as China, India, and others are also facing the brunt of the Covid-19 pandemic.
The key players in the waterproofing membranes market include 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). These players have established a strong foothold in the market by adopting strategies, such as expansions, mergers & acquisitions, agreements & partnerships, and new product launches.
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