Waterproofing Membrane Market Growth Analysis | 2024-2030

Market Insights

The waterproofing membrane market was estimated at USD 31.8 billion in 2024 and is likely to grow at a CAGR of 4.8% during 2024-2030 to reach USD 42.3 billion in 2030.

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Market Dynamics

Introduction

A protective layer known as a waterproofing membrane blocks water from entering surfaces and causing damage. The construction industry uses this material to protect roofs, basements, tunnels, and bathrooms. The market provides two primary waterproofing membrane options: sheet membranes sold as pre-formed rolls and liquid-applied membranes forming a seamless barrier following curing. The construction industry relies on bitumen, polyurethane, and acrylic materials for waterproofing membranes because these materials provide durability and flexibility with environmental resistance properties.

Market Drivers

Key factors driving the growth of the waterproofing membrane are:

• Growing urbanization and infrastructure maintenance
• Rising adoption of eco-friendly waterproofing technologies
• Advancements in polymer-based liquid-applied membranes, enhancing durability and environmental resistance

Recent Market JVs and Acquisitions:

The waterproofing membrane market is experiencing consolidation, with larger companies acquiring smaller firms to strengthen regional presence, enhance supply chain capabilities, and expand market reach amid intensifying competition and technological advancements. A considerable number of strategic alliances, including M&As, JVs, etc., have been performed over the past few years:

• In 2024, Saint-Gobain expanded in the Middle East and Asia-Pacific by acquiring Fosroc, enhancing its construction chemicals portfolio, strengthening distribution, and driving innovation, manufacturing, and sustainable building solutions synergies.
• In 2024, Mapei strengthened its market presence by acquiring Bitumat, enhancing its waterproofing solutions, expanding distribution in key regions, and driving synergies in innovation, manufacturing, and sustainable construction materials.
• In 2023, Sika acquired the MBCC Group. With a massive acquisition in the industry, 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.
• In 2023, Soprema acquired Mida from TechnoNicol, reinforcing its European market presence, expanding its waterproofing solutions portfolio, and leveraging synergies in manufacturing, innovation, and sustainable construction materials.
• 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 and furthers the Group’s strategy as a worldwide leader in light and sustainable construction.
• In 2022, Sika partnered with Shenzhen Landun Holding Co., Ltd. to strengthen its presence in China, expanding market access, enhancing product offerings, and driving growth in sustainable construction solutions.
• In 2022, Carlisle acquired Henry, enhancing its residential market presence in North America, expanding its waterproofing and building envelope solutions, and driving synergies in manufacturing, distribution, and sustainable construction.
• In 2019, BASF and Oriental Yuhong deepened their collaboration to co-develop environmentally friendly waterproofing solutions for the Chinese construction market, advancing sustainable building practices in the region.

Segments Analysis

By Membrane Type

“Sheet membrane is expected to remain dominant, whereas liquid-applied membrane will be the faster-growing membrane type in the market.”

The waterproofing membrane market is segmented into sheet membranes and liquid-applied membranes. Sheet membranes will continue to dominate the market throughout the forecast period due to their superior durability, making them the preferred choice for large-scale commercial and infrastructure projects. Meanwhile, liquid-applied membranes are experiencing faster growth, driven by adaptability to complex structures. The market is becoming more efficient as both segments align with evolving sustainability standards and the adoption of cool roofing technologies.

By Product Type

“Bitumen is expected to remain dominant in the sheet membrane, whereas polyurethane will be the fastest-growing product type in the liquid-applied membrane during the forecast period.”

The waterproofing membrane market is segmented into bitumen, PVC, TPO, acrylic, polyurea, polyurethane, and other product types. Sheet membranes prefer bitumen as their choice of covering material while maintaining dominance in the marketplace. Polyurethane liquid-applied membranes are presently increasing in popularity as industry stakeholders predict they will dominate a substantial segment share in the future. Membrane options need to fulfill sustainability requirements to maintain market position and provide cost-efficient solutions.

By Application Type

“Roofing is expected to hold its major share in the application type of the Waterproofing Membrane.”

The market is segmented into roofing, foundation & below grade, water-retaining structures, infrastructure, and other application types. The roofing segment will maintain its position as the principal market leader and fastest-growing application through 2030 because of rising worldwide residential and construction spending. The market shows increasing acceptance of cool roofs as one essential development through global warming trends. The essential role that cool roofs play in boosting energy efficiency creates additional momentum for market expansion.

By End-Use Type

“The residential category is expected to remain the dominant and fastest-growing end-use type of the market during the forecast period.”

The market is segmented into residential, non-residential, and infrastructure. The residential category is projected to maintain its dominance and experience the fastest growth throughout the forecast period with increasing construction spending and housing demands, as well as rising home improvement demands. The commercial category is expected to remain a market driver, supported by ongoing infrastructure development and increasing demand for cool roofs and reflective surfaces to enhance energy efficiency across various regions.

By Construction Type

“Renovation is expected to be the faster-growing category of the market, outpacing new construction with aging infrastructure worldwide.”

The market is segmented into new construction and renovation. The demand for renovations will continue to be stable because infrastructure projects involve aging structures while sustainable building practices gain popularity supported by home improvements and repair projects. The projection for new construction continues to maintain its market share due to emerging countries' urbanization over the coming forecast period.

Regional Insights

“The Asia-Pacific region is expected to remain the largest market for waterproofing membranes during the forecast period.”

The Asia-Pacific region is expected to maintain its market leadership throughout the forecast period, driven by rapid urbanization, large-scale infrastructure projects, and strong construction demand. Meanwhile, North America is projected to experience the highest growth rate by 2030, fueled by increasing renovation activities, stringent regulatory requirements, and the rising adoption of advanced, sustainable waterproofing solutions. Growth in Asia-Pacific will be further supported by emerging countries such as India, Indonesia, and Vietnam.

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Key Players

The market is highly fragmented, with over 500 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 market. Some of the major players provide a complete range of services, including products.

Here is the list of the Top Players (Based on Dominance)

• Oriental Yuhong Waterproofing Technology
• Sika AG
• RPM International
• Saint-Gobain
• Soprema Group
• Holcim Group
• Mapei S.p.A.
• Keshun Waterproof Technology Co., Ltd.
• Carlisle Companies Inc.
• Standard Industries

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s waterproofing membrane market realities and future market possibilities for the forecast period of 2024 to 2030. After a continuous interest in our waterproofing membrane market report from the industry stakeholders, we have tried to further accentuate our research scope to the waterproofing membrane market to provide the most crystal-clear picture of the market. The report segments and analyses 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 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 1000 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 most comprehensively. The report structure has been kept so 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 recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The waterproofing membrane market is segmented into the following categories.

By Product Type

• Bitumen
• PVC
• TPO
• Acrylic
• Polyurea
• Polyurethane
• Other Product Types

By Application Type

• Roofing
• Foundation & Below grade
• Water-retaining Structures
• Infrastructure
• Other Application Types

By End-Use Type

• Residential
• Commercial
• Industrial
• Infrastructure

By Construction Type

• New Construction
• Renovation

By Region

• North America (Country Analysis: The USA and Rest of North America)
• Europe (Country Analysis: Germany, France, The UK, Spain, Italy, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia Pacific)
• The Middle East (Country Analysis: Saudi Arabia, The UAE, Egypt, and Rest of the Middle East)
• Latin America (Country Analysis: Mexico, Brazil, Argentina, and Rest of Latin America)
• Africa (Country Analysis: Africa and the Rest of Africa)

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: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across industries. 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