The global waterproofing membrane market size is projected to grow from USD 28.05 billion in 2021 to USD 42.85 billion in 2028. It is set to exhibit a CAGR of 6.2% during the forecast period in 2021-2028. The rising need to save energy through the construction of green roofs and buildings is set to propel the demand for these membranes, especially to prevent stormwater runoff and filter out contaminant air particles.
The report studies decisive segments of this market containing regions, end-users, technologies, types, and applications. It elaborates the performance and significance of each of the segments by considering sales volume, growth prospects, revenue share, and demand. In addition to this, it will help our clients to accurately determine the size of the waterproofing membrane industry to guide them in choosing the right segment for their business growth.
Drivers & Restraints-
Rising Demand for Residential Spaces in Developing Nations to Aid Growth
The high demand for residential spaces, especially in developing countries, on account of the surging population is expected to spur the demand for these membranes in the upcoming years. Also, governments of these countries are constantly taking initiatives to provide the Economically Weaker Section (EWS) with good housing. For instance, India’s Union Housing and Urban Affairs Ministry announced in January 2021 that it approved the construction of more than 168,000 houses under the Pradhan Mantri Awas Yojana (PMAY) in urban areas. However, these membranes contain solvents, diluents, and other additives that often release toxic fumes and VOCs. It may obstruct the waterproofing membrane market growth.
Urgent Need to Protect Roofs from Rainwater will Drive the Roofing Segment
Based on applications, the market is categorized into roofing, walls, building structures, landfills & tunnels, and others. Out of these, the roofing segment procured the largest waterproofing membrane market share in 2020. The rising need to protect roofs from atmospheric moisture and rainwater is set to accelerate this segment in the near future. Also, the increasing number of residential construction activities in Asia Pacific would contribute to this growth.
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