The global waterproofing systems market size is projected to reach USD 72.0 billion by 2025 at a CAGR of 6.4% from 2020. The demand for waterproofing systems in emerging economies, such as APAC, MEA, and South America, is increasing owing to the growth in the construction industry. The fluctuation in raw material prices is challenging the waterproofing systems market. The demand for waterproofing systems is rising, owing to the growing demand for cost-effective and efficient waterproofing materials. This increase in demand for environment-friendly waterproofing systems and the construction of green buildings provide growth opportunities to the market. On the other hand, the potential health and environmental issues are the major restrain for the market.
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Based on the application, the building structure segment is estimated to lead the overall waterproofing systems market
Waterproofing of building structures provide effective and long term protection form these exposures and ensure efficient protection of building structures. Building structures are areas excluding roofs and walls such as balconies, basements, foundations, retaining walls, storage rooms, belowground constructions, and others. Growth in demand for residential and commercial construction in emerging economies such as China, India, Indonesia, Chile, Nigeria, and others is driving the consumption of waterproofing systems in building structures.
Based on type, the waterproofing membranes segment is projected to lead the overall waterproofing systems market
Waterproofing membranes are materials that are used to prevent water ingress in any building structure. These are available in sheet form of liquid applied. These systems are easy to handle, easy to apply, highly efficient, flexible, and also provide improved strength, tear resistance, weathering resistance, UV stability, and elasticity to the applied surface. They are used for applications, such as roofing & walls, building structures, waste & water management activities, tunnel liners, bridges & highways, and others.
APAC is projected to be the fastest-growing market for waterproofing systems. The rising population, increased demand for residential buildings, rapid industrialization, and increased urbanization are driving the APAC waterproofing systems market. China is the largest market for waterproofing systems in the region. China is also a major producer and consumer of waterproofing systems in the region as it has a huge manufacturing base. Apart from China, India, and South Korea are projected to grow at a decent rate during the forecast period.
The key players in the waterproofing systems market include Sika AG (Switzerland), BASF SE (Germany), Soprema (France), GCP applied technologies (US), Fosroc (UK), Mapei S.P.A (Italy), Carlisle Construction Company (US), Tremco (US), Pidilite Industries (India), and Henkel Polybit (UAE). These players have established a strong foothold in the market by adopting strategies, such as expansions, mergers & acquisitions, agreements & partnerships, and new product launches.