May 11, 2023 11:05 ET | Source: PMI PMI
Covina , May 11, 2023 (GLOBE NEWSWIRE) -- Waterproof membranes are thin layer of water tight material applied continuously over a firm surface, and are of two types namely sheet based membranes and liquid applied membranes. Increase within the advancement of housing industry has led to rise within the demand of waterproofing materials for its structural integrity. Roof Garden Waterproofing
Waterproofing membranes gives excellent suitability for wall protection because the materials are placed in thin layer over another material so that contact with water can be avoided. These membranes possess various properties like strong, flexible, and tear resistant so that it can stretch over the buildings and canopy cracks.
Presence of major key players and technological innovation has provided lucrative opportunities in Waterproofing Membrane market growth. Growing infrastructure development such as water supply, power stations, telecommunication networks and growing building and construction activities has boost the demand for Waterproofing Membrane market growth.
Waterproofing Membrane Market accounted for US$ 31.2 billion in 2020 and is estimated to be US$ 63.71 billion by 2030 and is anticipated to register a CAGR of 7.5%. The global waterproofing membrane market is segmented based on raw material, type, application, and region.
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Analyst View: Rapid growth in urbanization and growing economic status in emerging countries is likely to propel market growth. The lightweight nature and superior properties has further drive the market of waterproofing membrane. New product launch and rising strategic partnerships is expected to fuel Waterproofing Membrane market growth over the forecast period.
Infrastructure Development: Increasing infrastructure projects such as bridges, tunnels, highways, and airports drive the demand for waterproofing membranes. These membranes are essential to protect these structures from water ingress, which can lead to structural damage and deterioration.
Urbanization and Construction Activities: Rapid urbanization, particularly in emerging economies, fuels construction activities, which in turn drives the demand for waterproofing membranes. As more buildings and structures are erected, the need for effective waterproofing solutions becomes crucial.
Key Market Insights from the report:
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Competitive Landscape & their strategies of Global Waterproofing Membrane Market:
The key players operating in the global waterproofing membrane market includes
Increasing Construction and Infrastructure Activities: The growth in construction and infrastructure projects worldwide is a major driver for the waterproofing membrane market. The need to protect buildings, bridges, tunnels, and other structures from water damage drives the demand for effective waterproofing solutions.
Rising Awareness of Benefits: There is growing awareness among architects, contractors, and building owners about the benefits of waterproofing membranes. These membranes help prevent water intrusion, prolong the lifespan of structures, reduce maintenance costs, and maintain the integrity of buildings.
Stringent Building Codes and Regulations: Stringent building codes and regulations regarding waterproofing and energy efficiency drive the adoption of waterproofing membranes. Compliance with these regulations necessitates the use of high-quality waterproofing materials and techniques.
Technological Advancements: Technological advancements have led to the development of advanced waterproofing membrane systems with improved performance characteristics. These include enhanced durability, ease of installation, compatibility with various substrates, and resistance to chemicals and UV radiation. These advancements drive market growth by meeting the evolving demands of the construction industry.
High Cost: Waterproofing membrane systems can be relatively expensive compared to traditional waterproofing methods. The cost of materials, installation, and skilled labor can pose a challenge, particularly in price-sensitive markets. The higher initial cost of waterproofing membranes can deter some construction projects.
Lack of Awareness and Skill Gap: Despite increasing awareness, there is still a lack of comprehensive knowledge about the benefits and proper application of waterproofing membranes. The absence of skilled labor and expertise in installing and maintaining these systems can hinder market growth.
Volatile Raw Material Prices: The prices of raw materials used in manufacturing waterproofing membranes, such as bitumen, PVC, and polymers, can be subject to fluctuations. Price volatility can impact the profitability of manufacturers and affect the overall cost of waterproofing membrane systems.
Environmental Concerns: Some waterproofing membrane materials, such as PVC, have raised environmental concerns due to their production processes and potential for pollution. Growing emphasis on sustainability and eco-friendly construction practices may lead to a shift toward alternative materials, which can impact the market for certain types of membranes.
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