Waterproofing Membrane Market 2021: Trends, growth opportunities and forecast to 2027
A recent report by Global Market Insights, Inc., suggests that the worldwide waterproofing membrane market size would surpass USD 13.5 billion, with a notable CAGR of 6.5% through 2027.
Selbyville, United States – July 21, 2021 /MarketersMedia/ —
In recent years, the worldwide waterproofing membrane market has gained exponential income. Also, the market is expected to grow in size and revenue over the span of 2021 to 2027. The waterproofing membranes are getting significant growth opportunities by the virtue of their efficiency, adaptability, and excellent quality. Along with that, increasing knowledge of the consumers associated with different benefits of the product will generate more opportunities for the market.
Waterproof membranes are excellent for protecting walls and ceilings from water contact because they are manufactured of waterproof materials that are applied to the surface to prevent leaks or damage.
Furthermore, the membranes also contribute to saving money and efforts by minimizing the frequency of roof repairs along with lower maintenance costs, and sustainable roof life.
This growth can be attributed to two main factors: the demand for the product in various geographical landscapes and the need for different materials in diverse applications.
Unravelling the waterproofing membrane market trends across diverse regions
• Thriving construction industry across Asia Pacific
The expansion of the construction industry in the Asia Pacific, as well as rising government spending on residential and non-residential projects, are likely to drive market growth for regional waterproofing membranes.
Elaborating further, the expanding construction market in APAC is directly connected to the increase in household growth driven by rural migration in China and India’s metropolitan areas. This significant demographic transition will also emerge as a major contributor to the expansion of the waterproof membrane market in this region.
Even in 2020, the Asia Pacific region accounted for over 20 percent share in the global waterproofing membrane market owing to the increasing investment in infrastructure and urbanization. Along with that, rising water treatment operations, as well as wastewater treatment activities in the manufacturing sector, have played a vital role in supporting regional growth.
• Structural renovation in Europe
In 2020, the European market for waterproofing membranes accounted for about USD 9.5 billion. Moreover, underground basement structures are being renovated in Germany and few other European nations, which will emerge as a large-scale promoter for the waterproofing membranes market in the region.
• Expanding wastewater treatment sector across North America
Power and oil gas industries are expected to drive the market expansion in North America, owing to the ultimate need for wastewater treatment. Further to that, the utilization of waterproofing membranes in multiple requirements, including a variety of water treatment applications like scraper blades, manholes, spillways, sewer water treatment & settlement tanks, and inlets, will proliferate the product market even more in the North American region.
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Various products types and applications to proliferate the waterproofing membrane market
Owing to multiple properties such as indissolubility and cheap cost, the polyurethane polymer membranes are anticipated to grow at a CAGR of over 8% over the forecast time frame. Their applications in various structural construction for smooth finishing are projected to create notable market prospects for them.
The demand for effective and sustainable solutions to protect building structures from climatic factors is rapidly increasing worldwide, due to which waterproofing membranes are witnessing increased popularity currently.
The building structures application segment for the waterproofing membrane market is expected to rise at a CAGR of over 7% throughout the forecast period. Some building structure applications include patios, basements, and parking structures, etc.
In a nutshell, increased R&D investment by leading market players as well as technological advancements and new product development may expand the product range of waterproof membrane with economic manufacturing. This, in turn, is likely to speed up the waterproofing membrane market expansion.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/waterproofing-membrane-market
Source: MarketersMedia
Release ID: 89037633
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