According to the report published by Allied Market Research, the global waterproofing products market was estimated at $35.5 billion in 2021 and is expected to hit $58.9 billion by 2031, registering a CAGR of 5.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
Waterproofing is the process of making an object or structure watertight or water-resistant so that it is largely unaffected by water and resists water infiltration under specific conditions. These products can be utilized in wet environments and at specified depths underwater. Waterproofing products are used extensively in construction projects. These products offer a variety of advantages, including chemical resistance, UV radiation resistance, heat resistance, waterproofing during the rainy season, stability, and strength, which contribute to a structure’s increased longevity. Waterproofing products include waterproofing membranes, waterproofing chemicals, and waterproofing coatings. When the distribution of precipitation varies geographically and seasonally, water conservation, transportation, and purification become more crucial. In the water and waste management industries, waterproofing membranes are frequently utilized. China is the major purchaser of waterproofing membranes for waste management in Asia-Pacific.
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Covid-19 scenario-
The disrupted supply chain across the world gave way to decreased use of raw materials utilized to manufacture waterproofing products, which in turn impacted the global waterproofing products market negatively, especially during the initial phase.
However, The rapid expansion of the construction industry got retrieved slowly and steadily.
The global waterproofing products market is analyzed across the type, application and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By type, the membranes segment held the largest market share in 2021 and is projected to maintain its dominance by 2031. The coatings segment, on the other hand, would showcase the fastest CAGR of 5.5% during the forecast period.
By application, the roofing and walls segment held the largest market share in 2021 and the floors and basements segment is the fastest-growing segment with CAGR of 5.7%.
By region, Asia-Pacific held the major share in 2021, the same region would also showcase the fastest CAGR of 5.9% from 2022 to 2031. The other provinces assessed through the report include North America, Europe, and LAMEA.
The key market players analyzed in the global waterproofing products market report include BASF SE, Sika AG, Carlisle Companies Inc., RPM International Inc., GCP Applied Technologies Inc., Firestone Building Products Company, LLC., Soprema Group, GAF, Henry Company, The Dow Chemical Company. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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