The market is segmented, by Material Type (Polymers, Bitumen, Bentonite, Rubberized Asphalt, and Others), by Membrane Type (Sheet-based Waterproofing and Liquid-coated Waterproofing), by Position Type (Positive Side, Blind Side, and Negative Side), by Application Type (Fluid-Applied Waterproofing, Fully Bonded Waterproofing, Self-Adhered Waterproofing, and Loose-Laid Waterproofing), by End-User Type (Commercial Building, Residential Building, and Public Infrastructure), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, Russia, The UK, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Latin America, The Middle East, and Others]).
The market is segmented, by Material Type (Polymers, Bitumen, Bentonite, Rubberized Asphalt, and Others), by Membrane Type (Sheet-based Waterproofing and Liquid-coated Waterproofing), by Position Type (Positive Side, Blind Side, and Negative Side), by Application Type ...
The below-grade waterproofing market was valued at US$ 1.4 billion in 2022 and registered a healthy YoY growth of 4.0% from its 2021 market value. The market is expected to grow at ahealthy CAGR of 4.1% over the next five years to reach an annual market size of US$ 1.8 billion in 2028.
Below-grade (below-ground level) waterproofing is one of the key technologies used in the construction industry that is now becoming an essential step to protect a structure from water. It is performed to restrict the penetration of water through any below-grade structure. Below-grade waterproofing is performed through either a sheet-based membrane or a liquid-coated membrane, depending upon the type of waterproofing material. High-density polyethylene (HDPE), thermoplastic olefin (TPO), ethylene propylene diene monomer (EPDM), polyvinyl chloride (PVC), bitumen (bituminous and modified bitumen, etc.), bentonite (such as sodium bentonite), and rubberized asphalt are some of the materials, which are extensively used in below-grade structures.
Below-grade waterproofing is widely used in public infrastructure, commercial & residential buildings in structures, such as basements, foundations, planters, tunnels, bridges, elevator pits, and drainage systems. The below-grade waterproofing market currently represents less than a 5% share of the overall waterproofing market. The cost of waterproofing the structures amounts to less than 1% of the total construction cost and saves an equivalent amount or more in future repair and maintenance costs over the service life of the structure.
The expected rebound in the global economy and the increasing focus of governments of many developing countries on improved infrastructure are likely to drive the long-term demand for below-grade waterproofing products. Additionally, the development of innovative products, such as hybrid membranes, is further elevating the demand for below-grade waterproofing.
Segment Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Material Type
Polymers, Bitumen, Bentonite, Rubberized Asphalt, and Others
Polymers are the most preferred material for below-grade waterproofing.
Membrane Type
Sheet-Based Waterproofing and Liquid-Coated Waterproofing
Sheet-based waterproofing is the most widely used category. The membrane type is also growing at a faster rate.
Application Type
Fluid-Applied, Fully Bonded, Loose-Laid, and Self-Adhered Waterproofing
Fluid-applied waterproofing is dominant, whereas self-adhered waterproofing is gaining more traction.
Position Type
Positive Side, Blind Side, and Negative Side
Positive Side is dominant, while blind side is growing at the highest rate.
End-User Type
Commercial Building, Residential Building, and Public Infrastructure
Commercial building remains the biggest user of below-grade waterproofing.
Regional Basis
North America, Europe, Asia-Pacific, and Rest of the World
Seemingly, Asia-Pacific holds the horse reins and drives the global market.
By Material Type
The market is segmented into polymers, bitumen, bentonite, rubberized asphalt, and others. Polymer is expected to remain the most dominant material type in the below-grade waterproofing market during the forecast period. The segment is also likely to grow at the fastest pace during 2023-2028. Increasing synthetic polymer production to support rising population and urbanization, an introduction of a high-performance below-grade waterproofing system, and a gradual shift from bitumen to synthetic polymers are the major growth drivers of the segment over the long run.
By Membrane Type
The market is segmented into sheet-based waterproofing and liquid-coated waterproofing. Sheet-based membrane is expected to remain the larger membrane type in the below-grade waterproofing market during the forecast period. Increasing usage of breathable waterproofing membranes and environmentally safe products remain the major factors for the higher growth of sheet-based below-grade waterproofing membranes in the long run.
To know more about the market segments, Click here.
By Position Type
The market is segmented into positive side, negative side, and blind side. The positive side is projected to remain the dominant segment of the below-grade waterproofing market over the next five years, whereas the blind side is likely to be the fastest-growing segment, driven by its suitability with zero property line application.
By End-User Type
The market is segmented into commercial buildings, residential buildings, and public infrastructure. Commercial building is expected to remain the dominant segment of the below-grade waterproofing market during the forecast period. An expected increase in construction activities of high-rise buildings coupled with an increasing preference for waterproofing systems in foundations and basements are the major growth drivers of the market in the commercial building segment. The residential and public infrastructure segments are also expected to create sizeable opportunities during the same period.
Regional Insights
Asia-Pacific is likely to remain the largest below-grade waterproofing market during the forecast period. The region is also expected to log the fastest recovery during the same period. The expected increase in investment in the construction sector post-pandemic, along with continued growth in the construction and infrastructure sector in emerging Asian economies, such as China and India, will drive the demand for below-grade waterproofing in the region in the long run.
To know which region offers the best growth opportunities, Click here.
Segmentation
The below-grade waterproofing market is segmented into the following categories.
By Material Type
Polymers
Bitumen
Bentonite
Rubberized Asphalt
Others
By MembraneType
Sheet-based Waterproofing
Liquid-applied Waterproofing
By Application Type
Fluid-Applied Waterproofing
Fully Bonded Waterproofing
Loose-Laid Waterproofing
Self-Adhered Waterproofing
By Position Type
Positive Side
Blind Side
Negative Side
By End-User Type
Commercial Building
Residential Building
Public Infrastructure
By Region
North America (Country Analysis: The USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
Rest of the World (Sub-Region Analysis: Latin America, The Middle East, and Others)
Key Players
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the below-grade waterproofing market:
GCP Applied Technologies (now part of Saint-Gobain)
Sika AG
RPM International Inc.
Carlisle Companies, Inc.
Mineral Technologies, Inc.
MBCC Group (part of Sika)
Mapei S.p.A.
Recent Market JVs and Acquisitions: Increasing market consolidation in order to gain a competitive edge in terms of both product offering and geographical coverage.
2018: Mapei SpA acquired Tecnopol Sistemas, S.L.U.; Sika acquired a majority stake in Index Construction Systems and Products, Italy, Arcon, and King Packaged Materials Company; and GCP Applied Technologies acquired R.I.W. Limited.
2019: Sika AG completed the acquisition of Parex Ltd., and Lone Star Funds signed a purchase agreement to acquire BASF’s Construction Chemical business.
2021: MBCC acquired TPH Waterproofing Systems.
2022: Saint-Gobain acquired GCP.
2023: Sika acquired MBCC.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s below-grade waterproofing market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis.
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
Market trend and forecast analysis.
Market segment trend and forecast.
Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
COVID-19 impact and its recovery curve.
Attractive market segments and associated growth opportunities.
Emerging trends.
Strategic growth opportunities for the existing and new players.
Key success factors.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
Recent Product Development
Recent Product Developments: Durability, ease of installation, and long shelf life are the indispensable focus areas of the leading players while product development.
BASF launched MasterSeal® 730 UVS
Sika’s “SikaProof® A+ 12” is a sheet-based polyolefin (FPO) waterproofing membrane for pre-applied fully bonded below-grade waterproofing applications.
Carlisle’s “MiraPLY™”, a below-grade blindside waterproofing membrane for zero-property-line applications.
Sika AG in Russia launched PVC membranes for waterproofing in order to address the Russian construction market.
Sika Corporation US introduced “Sikaplan® WP 1130-25C”, a thick sheet waterproofing membrane with high tensile strength and elongation and excellent dimensional stability for horizontal and vertical foundations and other below-grade structures.
LOADING
LOADING
×
Please enter your contact details. It will allow our analysts to reach out to you.
The below-grade waterproofing market is estimated to grow at a CAGR of 4.1% by 2028, driven by the organic growth of the construction industry, the expected increase in investments towards public infrastructure and taller buildings, and rising awareness toward the protection of buildings and infrastructures from water ingress.
GCP Applied Technologies (part of Saint Gobain), Sika AG, RPM International Inc., Carlisle Companies, Inc., Mineral Technologies Inc., and MBCC Group (part of Sika) are the leading players in the below-grade waterproofing market.
Asia-Pacific is estimated to remain dominant in the below-grade waterproofing market in the foreseeable future. The key economies driving the region’s demand for below-grade waterproofing are China, India, and Japan.
Asia-Pacific is estimated to remain the fastest-growing market for below-grade waterproofing in the foreseen future driven by rising urbanization in the emerging economies of India, China, and other ASEAN countries.
