The market size of waterproofing membranes is estimated to reach USD 36.62 billion by 2021, at a CAGR of 9.2%
The key drivers for increasing the demand of waterproofing membranes are lightweight nature and durability, growth in end-user segment, and environmental sustainability needs and energy savings. Rising demand from developing nations is further pushing the market of waterproofing membranes in different potential applications including roofing & water management applications. Merger & acquisitions, technological developments & innovations and expansion are identified as key strategies to expand the waterproofing membranes market.
Waste & water management application is estimated to register the highest growth during 2015 and 2021. The high growth is attributed to the increasing population, urbanization, and industrialization, due to which there is increased need for water management activities to optimize the use of water in developing as well as developed countries. In 2015, the waste & water management segment accounted for the third largest market share among all applications, in terms of value and volume, followed by Bridges & highways.
Asia-Pacific is the fastest growing market for waterproofing membranes in terms of value and volume in the forecast period. China and India are the two major markets of waterproofing membranes in Asia-Pacific. The Chinese building & construction industry has the largest share in Asia-Pacific resulting in an increased growth of the market. Also, under building & construction industry, relatively high growth was observed under the commercial building & construction industry, high-end real estate, and energy-saving policies, which are likely to drive the demand for waterproofing membranes in both China and India.
The key companies profiled in this market research report are