“The European below-grade waterproofing market size was valued at US$ 271 million in 2023 and is likely to grow at a decent CAGR of 2.7% in the long run to reach US$ 332 million in 2030”.
Market Dynamics
Introduction
Below-grade (below-ground level) waterproofing is one of the key technologies used in the construction industry that is now becoming an essential step in protecting 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 the 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, and the European market represented merely ~19 % of the global market in 2023. 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.
Despite a lackluster business year in 2023, the global construction industry seems in a cautiously optimistic mood. The combination of widespread government infrastructure stimuli, the renewable energy revolution, increasing capital investment in strategically important sectors, and post-COVID pipeline projects are creating lucrative opportunities for the stakeholders.
Sailing with resilience through the headwinds, the European construction industry is holding on to the light at the end of the tunnel. Slight relief is expected with gradual improvement from 2025, due to the recovering housing market and the increasing amount of building permits for new homes, ultimately imprinting a positive impact on the below-grade waterproofing market.
Recent Market JVs and Acquisitions:
A huge number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:
- In 2021, MBCC Group acquired TPH Waterproofing Systems. With this acquisition, MBCC Group aims to enlarge its portfolio in acrylates and polyurethanes for ground consolidation and waterproofing solutions within its underground construction business.
- In 2022, Saint-Gobain acquired GCP Applied Technologies. This acquisition is a decisive step in establishing Saint-Gobain’s leading position worldwide in construction chemicals with total sales of more than €4bn (up from €3bn) and furthers the Group’s strategy as a worldwide leader in light and sustainable construction.
- A massive acquisition in the industry, Sika acquired MBCC Group in 2023. The combined business will be a key accelerator in enabling both Sika’s and MBCC Group’s customers to drive sustainable transformation further and faster.
Recent Product Developments: Durability, ease of installation, and long-shelf life are the indispensable focus areas of the leading players during product developments.
- 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 to address the growing 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.
Market Segments' Analysis
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Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Material Type
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Polymers, Bitumen, Bentonite, Rubberized Asphalt, and Others
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Polymers were the most preferred material for below-grade waterproofing in Europe in 2023.
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Membrane Type
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Sheet-Based Waterproofing and Liquid-Coated Waterproofing
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Sheet-based waterproofing was the most widely used category in 2023. The membrane type is also likely to grow at a faster rate.
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Application Type
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Fluid-Applied, Fully Bonded, Loose-Laid, and Self-Adhered Waterproofing
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Fluid-applied waterproofing was dominant in 2023, while self-adhered waterproofing is rapidly gaining traction.
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Position Type
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Positive Side, Blind Side, and Negative Side
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Positive-side waterproofing is likely to remain dominant till 2030, and blind-side is anticipated to mark the highest growth.
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End-User Type
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Commercial Buildings, Residential Buildings, and Public Infrastructure
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Commercial building remains the biggest user of below-grade waterproofing in Europe.
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Country Basis
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Germany, France, the UK, Russia, and Others
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Germany to remain the most reward-bearing market till 2030.
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By Material Type
“Polymer-based waterproofing is expected to remain dominant in the market during the forecast period.”
- The market is segmented based on the material type as polymers, bitumen, bentonite, rubberized asphalt, and others.
- Polymers offer a range of benefits, such as lightweight, flexibility, high efficiency, and environmental safety.
- An expected incessant shift from bitumen to polymer-based below-grade waterproofing, owing to certain advantages of polymer-based systems over bitumen, such as flexibility, high efficiency, and more reliability.
- Bitumen membranes are products under the Construction Product Regulation (CPR) in Europe.
- Bentonite waterproofing held the second-leading position. There are several types of bentonite waterproofing systems, such as sodium, calcium, magnesium, and hydrogen. Sodium is the most common bentonite waterproofing system, which is formed from volcanic ash and salt water and provides the highest rate of expansion.
By Membrane Type
“Sheet-based membrane is expected to remain the larger membrane type in the below-grade waterproofing market during the forecast period.”
- Based on the membrane type, the market is segmented into sheet-based waterproofing and liquid-coated waterproofing.
- Increasing usage of breathable waterproofing membranes and environmentally safe materials is projected to drive the sheet-based below-grade waterproofing market.
- Sheet-based waterproofing is gaining more popularity over liquid-coated waterproofing owing to its robustness, self-reinforcement, and controlled thickness. Additionally, they do not require mixing or special equipment.
- Polymers, bentonite, and rubberized asphalt are primarily used in the form of sheet-based membranes, whereas bitumen and cementitious materials are mainly used in the form of liquid-coated waterproofing.
By Position Type
“Positive-side waterproofing is expected to remain the most attractive segment till 2030.”
- Based on the position type, the market is segmented into positive-side waterproofing, blind-side waterproofing, and negative-side waterproofing.
- Positive-side waterproofing prevents moisture infiltration, protects structural surfaces, and acts as a vapor barrier. It can be done with both sheet-based as well as liquid-coated membranes.
- Blind-side waterproofing is used on new construction structures where property line encroachment or other space limitations prohibit the ability to excavate the site. It is also used for split or mud?slab horizontal applications.
- Negative-side position is mostly used at the aftermarket level for remedial and renovation of building construction or infrastructure due to the inaccessibility and costly removal of positive-side below-grade waterproofing.
By Application Type
“Fluid-applied waterproofing grabbed lion’s share in the market, driven by its low cost and higher usage of bitumen waterproofing in the form of fluid-applied system.”
- Based on the application type, the market is segmented into fluid-applied waterproofing, fully bonded waterproofing, loose-laid waterproofing, and self-adhered waterproofing.
- Ways of installation of fluid-applied waterproofing are spray-applied, cold-applied, and hot-applied waterproofing.
- Self-adhered is expected to maintain its second-leading position and highest growth in the market until 2030.
- They offer several benefits, such as controlled thickness, excellent reliability, excellent chemical resistance, no VOCs, and high crack coverage.
- Fully bonded is expected to grow at the second-highest rate during 2024-2030. Key growth drivers are ease of installation and an economical waterproofing system. Fully bonded membranes provide excellent waterproofing by creating a continuous bond with the substrate, preventing water migration and ensuring long-term protection.
By End-User Type
“Massive demand is expected to be generated from the commercial building as well as residential building in the coming years.”
- Based on the end-user type, the market is segmented into commercial buildings, residential buildings, and public infrastructure.
- Commercial building is expected to generate the highest demand by 2030. The value of commercial real estate investment in Europe dropped from 253 billion euros in 2022 to 133 billion euros in 2023. The UK had the largest investment at 43.5 billion euros, followed by Germany at 23.3 billion euros.
- Residential building held the second-leading position in 2023. The number of building permits granted for new housing decreased in several countries in 2023, including Austria, Belgium, Germany, the Netherlands, France, and Sweden. This was largely attributable to higher interest rates and construction costs, as well as the end of housing subsidies for new construction in some countries. However, the number of residential building permits increased in Spain.
Country Level Analysis
“Germany is expected to remain the largest market for European below-grade waterproofing during the forecast period.”
- Germany and France are expected to mark healthy growth trajectories by 2030.
- Some of the key players’ headquarters: MBCC Group in Germany and Mapei in Italy.
- DIN 18533-1 is a part of the German standard that deals with the waterproofing of buildings, specifically related to the protection of building elements that are in contact with soil. DIN 18533 is a critical standard for construction in Germany and provides guidelines on how to properly waterproof foundations, basements, and other below-ground structures to prevent damage from water ingress.
Key Players
The market is moderately consolidated with the presence of over 20 players. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the European below-grade waterproofing market.
Here is the list of the Top Players (Based on Dominance)
- Suprema
- Saint-Gobain S.A. (GCP Applied Technologies, Inc. + Chryso)
- Sika AG
- RPM International, Inc.
- Carlisle Companies Inc.
- Mineral Technologies Inc.
- MAPEI S.p.A.
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence most comprehensively. 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, Service 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.
The European below-grade waterproofing market is segmented into the following categories:.
European Below-Grade Waterproofing Market, by Material Type
- Polymers
- Bitumen
- Bentonite
- Rubberized Asphalt
- Others
European Below-Grade Waterproofing Market, by Membrane Type
- Sheet-based Waterproofing
- Liquid-applied Waterproofing
European Below-Grade Waterproofing Market, by Application Type
- Fluid-Applied Waterproofing
- Fully Bonded Waterproofing
- Loose-Laid Waterproofing
- Self-Adhered Waterproofing
European Below-Grade Waterproofing Market, by Position Type
- Positive Side
- Blind Side
- Negative Side
European Below-Grade Waterproofing Market, by End-User Type
- Commercial Building
- Residential Building
- Public Infrastructure
European Below-Grade Waterproofing Market, by Country
- Germany
- France
- The UK
- Russia
- Others
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s European 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 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.
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- Detailed profiling of additional market players (up to three players)
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