Waterproofing Membranes Market to exceed the 10-billion-dollar mark by 2024, the ever-expansive construction sector across the emerging economies to majorly drive the industry growth
Publisher : Fractovia | Published Date : 2018-01-23Request Sample
Waterproofing Membranes Market is estimated to register a substantial growth rate in the ensuing years, driven by its close association with the global construction industry, which incidentally, will continue to grow at an exponential rate. Waterproofing buildings, as on today, is a vital necessity to make the construction more resistant to weather changes and environmental impacts that can easily denigrate the strength and longevity of the buildings. The product landscape of waterproofing membranes industry is rather varied, since different materials are required for different types of waterproofing. However, waterproofing is an inevitable step in construction, subject to which waterproofing membranes market is bound to witness dynamic growth over 2016-2024.
Germany waterproofing membranes market size, by end-use, 2016 & 2024 (USD Million)
Concrete is one of the most pivotal man-made materials deployed in a large scale for the construction of buildings, roads, tunnels, subways, etc., owing to its strength, plasticity and durability. Though stronger than most other construction materials, concrete is a cement-aggregate-water mix – that is to say, though it appears to be solid, it is porous and permeable. Therefore, proper waterproofing is always required to protect concrete from damage and deterioration, since it is majorly exposed to water and chemical penetration. This in consequence, would drive waterproofing membranes market share, given that these products have become a widely accepted form of waterproofing in the construction world.
It is imperative to state that the polymer space has a major role to play in the expansion of waterproofing membranes industry. Polymer modified bitumen such as APP butadiene and SBS bitumen enhance the physical properties of bitumen waterproofing membranes and help them remain stable in freezing as well as high temperatures, thus charting out a lucrative growth path for bitumen-based waterproofing membranes industry. In APAC especially, where the construction industry has reached new horizons in the recent decades, modified bitumen waterproofing membranes are being widely used. It has in fact, been forecast that waterproofing membranes market size from bitumen will cross USD 4 billion by 2024.
Speaking along similar lines, in 2015, polymer waterproofing membranes market size was pegged at $2.5 billion, driven by the sales of TPO and PVC. TPO, being an environmentally safe membrane with the absence of volatile substances, resistance to low temperatures and chemical inertness to bitumen and polystyrene insulating materials, has been forecast to drive waterproofing membranes market outlook in the years ahead. It is also imperative to mention however, that a large portion of the waterproofing membranes industry is also captured by PVC waterproofing membranes which are UV and fire resistant, and also possess strong elasticity and a wide color range. Polymer waterproofing membranes are single layer monolithic structures that resist the development of cracks and are thus mainly used in structures like bridges, water treatment facilities, subway systems, docks, dams and railway stations.
Waterproofing membranes market has witnessed a major boost in countries such as China, India, Indonesia, etc., where construction and infrastructural development is increasing not only due to the increasing economy, but also on account of the governmental support for infrastructural development projects. In India, for instance, public and private sector initiatives have resulted in the construction of metro rails, express highways, large capacity underground parking and multi storied building complexes. In consequence, this has revolutionized the regional waterproofing membranes industry, as waterproofing is not only required on surfaces exposed to the elements, but also underground structures that require an impermeable membrane barrier to keep water out that tends to seep in due to increased hydrostatic pressure.
In China, the 12th Five-year plan specifies the construction of 56 airports with the expansion of 16 existing airports, thereby proving that airports alone can provide a big boost to China waterproofing membranes market. In the U.S. on the other hand, waterproofing membranes industry is likely to witness a 5.5% growth, which apparently is lower than the growth witnessed in other regions, primarily because the U.S. government has laid out stringent regulations on the use of environmentally hazardous polymer waterproofing membranes.
Leading companies in waterproofing membranes market have been majorly investing in research and development programs to produce biopolymers that are more suitable for environmental safety and preservation. With the rapid expanse of the construction sector, waterproofing membranes industry is likely to witness a significant growth rate, and is estimated to exceed USD 10.5 billion by 2024.
