The Rise of Waterproofing Systems Market and Future Growth- Exclusive Report by MarketsandMarkets™
Waterproofing Systems Market by Type (Waterproofing membranes, Waterproofing Chemicals, and Integral Systems), Application (Building Structure, Roofing & Walls, Roadways, Waste & Water Management), and Region
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 is increasing, owing to the growing demand for cost-effective and efficient waterproofing systems. The emergence of environment-friendly waterproofing systems and green buildings is also driving the 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.
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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.
The increase in demand for waterproofing systems and the growing construction industry in the emerging economies, such as APAC and South America, are driving the market. The key players in the waterproofing systems market include Sika AG (Switzerland), BASF SE (Germany), Fosroc (UK), GCP applied technologies (US), Soprema (France), Mapei S.P.A (Italy), Carlisle Construction Company (US), Tremco (US), Pidilite industries (India), and Henkel Polybit (UAE). The waterproofing systems market report analyzes the key growth strategies, such as investment & expansion, new product launch, mergers & acquisition, and partnership & agreement, adopted by the leading market players between 2017 and 2020.
Sika AG (Switzerland) is one of the leading manufacturers and distributors of waterproofing systems. The company adopted mergers & acquisitions as one of its key business strategies. For instance, in June 2020, the company acquired Modern Waterproofing Group, a leading manufacturer of roofing and waterproofing systems in Egypt. It was an addition to the product portfolio of Sika Egypt and offered new opportunities for growth in the Egyptian construction market. The acquired business generates annual sales of USD 28.5 million
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BASF SE (Germany) is one of the largest chemical producers globally. The company is among the key players in the waterproofing systems market. The company adopted the strategies of new product launch to strengthen its competitiveness in the global waterproofing systems market. For instance, in April 2018, BASF introduced MasterSeal 7000 CR from Master Builders Solutions for waterproofing and concrete protection for wastewater treatment plants and harsh chemical environments.
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