Waterproofing Membrane Market Size And Forecast

Waterproofing Membrane Market size was valued at USD 29,218.98 Million in 2021 and is projected to reach USD 49,334.97 Million by 2030, growing at a CAGR of 6.12% from 2022 to 2030.

The growth of the Waterproofing Membrane Market can be credited to the incremental amounts of construction activities across industries taking place primarily in developing economies. The market is also driven positively by the growing demand for waterproofing membranes from the waste and water management sector. The Global Waterproofing Membrane Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market.

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Global Waterproofing Membrane Market Definition

A waterproofing membrane is a layer of waterproof material applied to a surface to prevent water leakage in buildings and constructions. Waterproofing usually involves installing liquid or sheet membranes during construction and refurbishments. Waterproofing membranes protect against major causes of building damage, i.e., condensation and climatic conditions. Waterproofing helps secure the building from water damage and prevents further structural repairs.

The growth of the Waterproofing Membrane Market is mainly due to increased infrastructure development in emerging economies. On the other hand, waterproofing membranes pose risks to the environment and human health. Waterproofing membranes can be dangerous to the user and workers nearby when used in spray form. However, rapid infrastructure development and expanding urban areas in developed regions significantly led to a marked acceleration in the foreseen period.

COVID-19 has reduced demand for these industries as people were quarantined. Governments were forced to pause construction activities to prevent the further spread of the virus. Labor shortages in industries are also worrying the production process. As waterproofing membranes are widely adopted in construction sectors, their demand has decreased due to shutdown and low customer demand. However, the market has bounced back with the region’s re-opens construction capacities.