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New York, November 22, 2021/PRNewswire/ - According to a new study conducted by Polaris Market Research, by 2028, the global waterproofing membrane market is expected to reach 30.91 billion U.S. dollars. The compound annual growth rate of the market is expected to be 6.3% from 2021 to 2028. Increasing demand from infrastructure and water management departments is increasing sales of waterproofing membranes. In addition, governments in different regions pay more attention to water conservation in order to fully meet the needs of the ever-increasing population. In addition, rapid infrastructure development activities in emerging economies are expected to witness continued demand for membranes from water-saving systems in new structures.
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Main highlights of the waterproof membrane market
By spending billions of dollars on many projects related to roads, bridges, airports, railways, hospitals, tunnels, etc., countries all over the world attach great importance to improving infrastructure. China is building some of the world's most important infrastructure projects and hopes to provide 8 trillion U.S. dollars in loans for various development projects in 68 countries.
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North America has a larger market share and is at the forefront of the waterproofing membrane market. The sales of waterproofing membranes are driven by the recovery of infrastructure expansion, industrialization and construction. In addition, snowfall in the area can cause water leaks and may cause structural damage. As a result, the sales volume of waterproof membranes in the region has increased. The Asian market is growing at an alarming rate, forcing market participants to reconsider their strategies. Large investments in construction and infrastructure development projects, especially in India and China, are major contributors to the market.
In a highly competitive market, major market participants are investing in product innovation to differentiate their products. Major players in the waterproofing membrane market are increasing research and development to produce improved versions of high-performance membranes for heavy-duty waterproofing applications. They also implement various strategies to improve their market position, such as alliances with industry leaders and the development of innovative products. Industry players such as Bayer MaterialScience AG, Isomat SA, Saint-Gobain Weber GmbH, Maris Polymers, Alchimica Building Chemicals, CICO Technologies Ltd., Fosroc Ltd., GAF Materials Corporation, DuPont, Dow Chemical Company, Kemper System America, Inc. , Paul Bauder GmbH & Co. KG, BASF SE, Pidilite Industries Ltd. and Sika AG are some of the major players operating in the global industry.
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Polaris market research segmented the waterproof membrane market report based on products, applications and regions:
Waterproof membrane, product outlook (quantity-million square meters; revenue-million dollars, 2016-2028)
Waterproof membrane, application prospects (volume – million square meters; revenue – million dollars, 2016 – 2028)
Waterproof membrane, regional outlook (quantity – million square meters; revenue – million dollars, 2016 – 2028)
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