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Waterproofing membranes are thin-layer films that are laid over the surface to cease the water from penetrating the surface. These membranes are laid over various structures such as roof slabs to stop the water from entering the slab. These membranes are made of multiple layers of a waterproof material which are 2 to 4 mm thick.
On the basis of type, waterproofing membranes market is segmented into sheet membranes and liquid applied membranes. On the basis of material, waterproofing membranes market is segmented into modified bitumen, PVC, EPDM, TPO, HDPE, LDPE, and Others. On the basis of application, waterproofing membranes market can be segmented into roofing & walls, building structures, waste & water management, tunnels & landfills, bridges & highways, and others.
Key Market Driver -
New Building & Construction Projects along with renovation works to fuel the market growth over the forecast period.
Key Market Restraint -
Variable lifespan, high replacement cost and presence of alternative systems.
The increasing number of repair works, renovation activities and wide adoption of waterproofing membranes in the various end-use industry is expected to propel the market in the long term forecast. Rapid Industrialisation in the Asia-Pacific region has resulted in an increase in adoption of waterproofing membranes and is expected to positively impact the market growth in the long term forecast.
However, the soaring raw material prices, directly impact the prices of the services offered by the waterproofing membranes providers. Also, it poses certain health hazards and attracts stringent regulations from several agencies related to occupational safety.
The global waterproofing membranes market is fairly fragmented with a number of global and regional titans operating in the market. Some of the prominent players in the global waterproofing membranes market include- Sika AG, Dow Chemical Company, BASF, Pidilite Industries Ltd., Carlisle Companies Inc., Johns Manville, GAF Materials Corporation, Soprema Group, Renolit SE, Solmax International Inc., Bostik Malaysia (ARKEMA) and others.
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On a geographical basis, waterproofing membranes market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe holds a lion’s share in the global waterproofing market with over one-third of the market share. Roofing & walls & Building structures drive the European markets and are further expected to propel the growth in the regional market. Waste & water management segment is expected to be the fastest-growing segment in the region owing to the increasing awareness regarding water management. North America also holds a major share in the waterproofing membranes. However, with the slowdown in the construction sector of North American region the market is expected to witness low growth numbers.
Asia-Pacific region is poised to be the fastest-growing region in the waterproofing market on the back of rapid infrastructural development in the developing economies such as India & China. Rise of middle class and increasing disposable income in the region has also spurred the demand of waterproofing membranes in the region. Middle East & Africa region is also expected to amongst the fastest-growing markets for waterproofing membranes on the back of a number of infrastructural developments in the region coupled with improving socio-political conditions in the region.
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