CHICAGO, May 23, 2019 /PRNewswire/ -- According to the new market research report "Waterproofing Membranes Market by Raw Material Type (Modified Bitumen, PVC, EPDM, TPO), Type (Liquid Applied, Sheet Based), Application (Roofing & Walls, Building Structures, Waste & Water Management) - Global Forecasts to 2022", published by MarketsandMarkets™, the Waterproofing Membranes Market size of waterproofing membranes is estimated to grow from USD 25.80 billion in 2017 to USD 40.19 billion by 2022, at a CAGR of 9.3%.
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The market is driven by the growing building & construction industry and the need to improve the quality of construction. Emerging and developed economies across the globe are carrying out infrastructure developments such as roadways, railroads, and river banking protection projects to sustain economic growth. These civil construction projects boost the consumption of waterproofing membranes, which are commonly accepted as durable and long-lasting products.
The TPO segment is projected to register the highest CAGR in the waterproofing membranes market during the forecast period.
Based on raw material type, thermoplastic olefin (TPO) is the fastest-growing segment of the market. TPO has garnered industry-wide acceptance due to its performance and installation advantages at an economical price. Some other benefits of TPO include its recyclability, durability, flexibility, low installation cost, less labor requirement, and exceptional heat resistant properties suitable for energy-efficient roofing systems.
The roofing & walls application is projected to lead the waterproofing membranes market during the forecast period.
The roofing & walls is the largest application of waterproofing membranes. The growth of the segment is mainly due to the increased protection requirement from moisture and cracks in ceilings, roofing, and walls, along with an increased need for repair and maintenance of waterproofing membranes.
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APAC is projected to be the largest and fastest growing waterproofing membranes market during the forecast period.
The APAC region was the largest market for waterproofing membranes, in terms of volume, in 2016. China is the crucial consumer of waterproofing membranes in APAC. Growing roofing and waste & water management application segments are driving the demand for waterproofing membranes in the region. These segments are mainly driven by the increasing urban population in the region. Merger & acquisition, product launch, and expansion in different industries have made the region a potential growth market for waterproofing membranes.
The key players in the waterproofing membranes market include Carlisle Companies Inc. (US), Firestone Building Products Company, LLC (US), Soprema Group (France), GSE Environmental (US), BASF SE (Germany), Dow Chemical Company (US), Johns Manville (US), Sika AG (Switzerland), and GAF Materials Corporation (US). These players have established a strong position in the market by adopting strategies such as merger & acquisition, expansion, and new product launch.
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