According to a new report published by Allied Market Research, titled, “Waterproofing Products Market,” The waterproofing products market was valued at $35.5 billion in 2021, and is estimated to reach $58.9 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
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Waterproofing is the process of preventing water from entering a building or other infrastructure and causing harm. Waterproofing products form an impermeable barrier that protects the structure from water infiltration and leakage during weather conditions such as rain. The technique minimizes water damage and extends the life of buildings by waterproofing surfaces such as roofs, walls, and foundation surfaces, as well as other structurally important components. In addition to protecting the structure from water damage, waterproofing safeguards it from chemical damage and corrosion.
“The global waterproofing products market is expected to possess high growth potential in the coming years, increased demand from roofing and walls applications is driving the waterproofing products market. However environmental and health risks associated with waterproofing products are hampering the market. In addition, increasing awareness of green roofs is providing the market with lucrative opportunities in the future “
On the basis of the application, the waterproofing products market is categorized into roofing & walls, floors & basements, water & waste management, tunnel liners, bridges & highways and others. Floors and basements is projected to be the fastest-growing segment and roofing and walls has garnered the highest share in the waterproofing products market.
IMPACT OF COVID-19 on Waterproofing Products Market,
- Industries such as healthcare and medical, grew throughout the pandemic. New hospitals, daycares, and institutions contribute to the stabilization of the construction industry and the demand for waterproofing materials.
- In addition, as a result of the COVID-19 pandemic, increasing wastewater treatment operations demonstrated a good outlook for the waterproofing products industry. Concerns around water contamination and wastewater management increased as a result of the outbreak.
- Multiple cities all over the world have implemented wastewater surveillance in response to the rising emphasis on water treatment. Methods for distinguishing between symptomatic and asymptomatic infections.
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the potential health and various environmental issues may act as key restraints towards the growth rate of the waterproofing products market during the forecast period. On the other hand, the instability in the prices of raw materials may pose a challenge to the growth of the waterproofing products market during the forecast period. In addition, the introduction of waterproofing products that are friendly to the environment and green buildings, in addition to the growing demand for water management in developing economies, will further provide a variety of growth opportunities for the waterproofing products market during the forecast period.
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Key findings of the study
- On the basis of type, the coatings segment is expected to grow at a CAGR of 5.5%, in terms of revenue, during the forecast period.
- Depending on the application, the floors and basements segment is expected to grow at a CAGR of 5.7%, in terms of revenue, during the forecast period.
- Region-wise, Asia-Pacific garnered the highest share in 2021 in terms of revenue.
The major players operating in the global waterproofing products market :
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. Other players operating in the market are Saint-Gobain Weber GmbH, Fosroc Ltd., Maris Polymers, Pidilite Industries Ltd and Bayer Material Science AG.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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