Market Insights
Waterproofing materials act as a barrier, preventing the penetration of water into the structure to make it long-lasting and protect against water damage. Besides increasing the lifespan of the structure, it also improves its aesthetic value, reduces the cost of repair and maintenance, and may also improve the energy efficiency of the buildings and structures. It has a wide range of applications in the construction industry, including roofs, foundations, basements, walls, tunnels, bridges, swimming pools, parking structures, industrial structures, etc.
Over the years, the construction and infrastructure industries have rapidly deployed various new building materials that have an effective role in safeguarding structures, comfortable living, and improved service life. The waterproofing industry is set to outperform the construction industry with an increasing emphasis on enhancing building energy efficiency in response to tighter building energy codes. The global waterproofing market has crossed the US$ 30 billion mark over the past few years and was one of the minimally impacted industries with the downturn of the COVID-19 pandemic in 2020, thereby witnessing a strong comeback over the past two years.
Ever-growing real-estate and public infrastructure developments have given impetus to the waterproofing industry, which is also reflected in statistics published by industry associations across various economies. For instance, as per data from the China Building Waterproofing Association, the output of building waterproofing materials grew from 1.36 billion square meters in the year 2012 to 2.52 billion square meters in 2020. The global waterproofing market is estimated to grow at a healthy CAGR of 5% during the forecast period to reach a value of US$ 56 billion in 2028. The waterproofing industry has relatively low capital investment, is less technology-intensive, mature and easy production process, and has an overall entry threshold is low which makes it easier for small and mid-sized companies to enter the industry making it a highly fragmented industry. Increasing concentration on quality structures and the growing construction and infrastructure industries are accelerating the demand for waterproofing materials.
Recent Market JVs and Acquisitions:
The market has recorded a fair number of M&A activities over the years. The concentration level differs among different regions and countries, with China being the most fragmented market with over 2,000 waterproofing manufacturers. There have been some notable acquisitions over the past few years, with the acquisition of GCP Applied Technologies by Saint-Gobain in 2022 being a major one. The acquisition led to the integration of the GCP business across the CertainTeed and Chryso businesses of Saint-Gobain, with the waterproofing and specialty building materials businesses being merged with the CertainTeed business. Similarly, the acquisition of MBCC Group by Sika Group is considered to be one of the most noticeable ones.
Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Material-Type Analysis
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Bitumen, PU, Cementitious, EPDM, and Others
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Bitumen is expected to remain the most preferred material during the forecast period.
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Product-Type Analysis
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Sheet Membrane, Liquid Membrane, and Coating,
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Sheet Membrane is likely to remain the largest segment by product type in the years to come.
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Application-Type Analysis
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Roofing & Walls, Building Structures, Industrial, Water & Wastewater Management, Tunnels, and Others
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Roofing & Walls are expected to maintain their dominance during the forecasted period.
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End-User -Type Analysis
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Commercial, Residential, and Others
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Commercial end-user segment to dominate the market during the study period.
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Construction -Type Analysis
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New Construction, and Repair & Renovation
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Repair & Renovation to dominate the market during the study period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and the Rest of the World
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Asia-Pacific is expected to remain the largest market over the next five years and is also likely to grow at the fastest rate.
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Material Type
Based on the material type, bitumen holds supremacy in the global waterproofing market across the major regions. Bitumen membranes are known for their versatility and can be customized to meet specific requirements of surface, climate, and application area. Furthermore, it is a cost-effective solution compared to other waterproofing materials such as PU, EPDM, and TPO, making it a perennial choice of material. In some countries, bitumen accounts for more than 80% share of roof waterproofing.
Product Type
The market is segmented into sheet membrane, liquid membrane, coatings, and integral. Sheet membranes are expected to maintain their dominance during the forecast period, driven by durability, cost-effectiveness, resistance to aggressive ground conditions as well as UV exposure conditions, and excellent barriers against moisture and water ingress with a typical thickness range of 2mm to 4 mm.
Application Type
The market is segmented into roofing & walls, building structures, industrial, water & wastewater management, tunnels, and others. The roofing & walls segment dominates the waterproofing market, driven by factors such as increasing demand for sustainable and eco-friendly exteriors, and government regulations and building codes. The emergence of green roofs, involving the installation of layers of soil and vegetation on the roof surface, leads to improvements in roof insulation and water tightening requirements.
Regional Analysis
Asia-Pacific is expected to remain the largest market for waterproofing over the forecast period. In addition to that, the region is also likely to witness the highest growth in the coming years. Major factors, such as increasing construction activities owing to rapid urbanization and industrialization, promising growth in the economy, a shift of manufacturing industries from Western Economies to Asian economies, and mandates of building and energy codes, are driving the growth of the waterproofing market in the region. China, India, South Korea, Japan, and Thailand are the key economies playing a vital role in the region’s market.
The waterproofing market is segmented into the following categories:
By Material Type
- Bitumen (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- PU (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Cementitious (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- EPDM (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Product Type
- Sheet Membrane (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Liquid Membrane (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Coating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Application Type
- Roofing & Walls (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Building Structures (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Water & Waste Water Management (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Tunnels (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By End-User Type
- Commercial Structures (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Residential Structures (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Public Infrastructures (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Construction Type
- New Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Repair & Renovation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Italy, and The Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
- Rest of the World (Country 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 on some of the governing factors, including price, product offerings, regional presence, etc. The market is highly fragmented, with hundreds of players competing at the regional and international levels. Some of the key players catering to the waterproofing market are as follows:
- Oriental Yuhong
- Sika AG
- Keshun Waterproofing Technologies
- MBCC Group
- Saint-Gobain
- Carlisle Companies, Inc.
- Hongyuan Waterproof Technology Group Co., Ltd.
- RPM International, Inc.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s waterproofing market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate 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 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 market dynamics and will enable strategic decision-making for 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.
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 five players)
- SWOT analysis of key players (up to five players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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