North America Below Grade Waterproofing Membrane Market Growth & Trends
The North America below grade waterproofing membranes market size is expected to reach USD 454.9 million by 2027, registering a CAGR of 2.1% during the forecast period, according to a new report by Grand View Research Inc. Growing consumer awareness regarding structural damage caused due to underground water intrusion is projected to drive the market over the forecast period.
Increasing need for below grade waterproofing membranes on account of the benefits offered to building structures, including water resistance, moisture resistance, and easy applicability and maintenance, is expected to boost the market growth. In addition, the market is expected to register notable gains on account of high product demand in infrastructure end-use segment.
Growing scarcity of water coupled with growing restriction on discharge of industrial and municipal wastewater are driving the demand for wastewater treatment plants. Thus, application of below grade membranes in wastewater treatment plants to prevent the groundwater contamination and leaching is anticipated to boost the product demand.
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Waterproofing membranes manufacturers mainly distribute their products through a network of authorized distributors. Waterproofing contractors serve as the primary consumers of the below grade membranes. As a result, the major manufacturers have developed contractor outreach programs in order to gauge their specific requirements and offer them customized solutions.
North America Below Grade Waterproofing Membrane Market Report Highlights
• The industrial end-use segment is expected to expand at a of CAGR 2.1% in terms of revenue, over the forecast period on account of its ability to prohibit the leaching of toxic waste into the groundwater and increasing product use in water and wastewater treatment applications
• In 2019, the revenue for commercial end-use segment in Canada stood at USD 14.6 million owing to wide ranging product application in the development of office spaces and allied commercial construction activities
• In Mexico, the residential end-use segment accounted about 4.0% of the market share in 2019 owing to increasing purchasing power of individuals and augmented the demand for residential housing structures
• The infrastructure end-use segment is expected to expand at a CAGR of 1.8% over the forecast owing to growing regulatory support for product adoption in the development of tunnels, bridges and subways
• Manufacturers are continually optimizing the production technology to attain the lowest possible installation time by using improving the adhesive technology and providing the product installation training to the construction laborers
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North America Below Grade Waterproofing Membrane Market Segmentation
Grand View Research has segmented the North America below grade waterproofing membranes market on the basis of end use and region:
North America Below Grade Waterproofing Membranes End-use Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
• Commercial
• Residential
• Industrial
• Infrastructure
North America Below Grade Waterproofing Membranes Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
o Canada
o Mexico
List of Key Players of the North America Below Grade Waterproofing Membrane Market
• MAPEI S.p.A.
• RPM International Inc.
• Minerals Technologies Inc.
• GCP Applied Technologies Inc.
• BASF SE
• Sika AG
• W. R. Meadows, Inc.
• Minerals Technologies Inc.
• Kryton International Inc.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.