Waterproofing Membrane Market Analysis

Waterproofing Membrane Market Analysis

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Based on product type, the market can be segmented into liquid-applied membrane and sheet membrane. The sheet membrane segment accounted for revenue of around USD 18.3 Billion in the year 2023 and is estimated to grow at a CAGR of around 6.6% from 2024 to 2032.
 

Globalization and increased demand for quality products have led to innovative solutions like durable membranes made from PVC, Nanocrystals, and Acrylic/PU-based high-tech coatings. These advancements help waterproofing contractors provide faster, more efficient, and long-lasting solutions. Global warming is causing more heat waves, increasing evaporation from water bodies, and leading to more rainfall and tropical storms. Comprehensive waterproofing systems are essential during construction to maintain building integrity, reduce internal humidity, and protect interiors from moisture.
 

On the other hand, sheet waterproofing is a popular method used in construction, especially for roofs, foundations, basements, and other critical structural elements. As the construction industry evolves, the demand for efficient, sustainable, and durable solutions grows. However, Volatile Organic Compounds (VOCs) in waterproofing materials can harm indoor air quality and contribute to environmental pollution. This has led to a rising demand for low-VOC or zero-VOC sheet membranes. These products are increasingly used in green building projects seeking certifications like LEED (Leadership in Energy and Environmental Design).
 

Based on the application, the global waterproofing membrane market is categorized as roofing, basement & foundation, walls & facades, landfills & tunnels, and others. The roofing segment held around 32% of the total market share in 2023 and is anticipated to grow at a CAGR of 7% during the forecast period.
 

People use polymer-modified cementitious coatings to waterproof tanks and basements. These coatings are popular because tanks store substantial amounts of water for extended periods, and basements often leak from above. Liquid waterproofing membranes are the preferred solution for moisture-proofing retaining walls. With a focus on energy efficiency and sustainability, cool roofs and green roofs are becoming more popular. There is a growing demand for waterproof membranes that reflect heat and are eco-friendly.
 

Furthermore, as urban construction grows, residential and commercial buildings need effective waterproofing for external walls and facades, especially in areas with heavy rain or high humidity. Hybrid systems that combine liquid-applied and sheet membranes are increasingly popular. These systems offer waterproofing and protection against UV radiation and harsh weather.
 

In terms of the country, the U.S. dominates with an overall North America waterproofing membrane market and valued at USD 6.4 Bn in 2023 and is estimated to grow at a CAGR of over 6.7% from 2024 to 2032. The U.S. market has grown significantly in recent years. This growth is driven by increased construction activities, stricter building regulations, and greater awareness of the need for durable waterproofing solutions.
 

For instance, according to the U.S. Department of Housing and Urban Development's Census data, privately-owned housing completions in September 2024 reached a seasonally adjusted annual rate of 1,680,000. This figure marks a 5.7 percent decline from the revised August estimate of 1,781,000, yet it stands 14.6 percent higher than the September 2023 rate of 1,466,000. In September, single-family housing completions were recorded at a rate of one million, reflecting a 2.7 percent decrease from the revised August rate of 1,028,000. Additionally, the rate for units in buildings with five or more units in September was 671,000.
 

As a result, the U.S. market is poised to maintain its robust growth, driven by urbanization, stringent building codes, and a heightened demand for durable, sustainable materials.
 

North America: In terms of the country, the US dominates with an overall market share of around 75% in North America waterproofing membrane market. The U.S. market has grown significantly in recent years. This growth is driven by increased construction activities, stricter building regulations, and greater awareness of the need for durable waterproofing solutions.
 

On the other hand, Canada market expressing notable growth rate of around 6.9% in 2023. The Canada market is growing steadily due to increased construction, harsh weather, and the need for reliable water damage protection in buildings.
 

Europe: The Europe waterproofing membrane market with a market share of around 24% in 2023 and anticipated to grow with a CAGR of around 7.1% during the forecast period. Demand for waterproofing membranes is driven by the need to protect buildings from water damage, especially in areas with variable climates and heavy rainfall.
 

In terms of country, Germany market expressing notable growth rate of around 7.6% in 2023. Germany is a major market in Europe, supported by a strong construction industry, strict building codes, and climate conditions requiring durable waterproofing.
 

Asia Pacific: The Asia Pacific waterproofing membrane market with a market share of around 37% in 2023 and anticipated to grow with a CAGR of around 6.9% during the forecast period. The Asia Pacific market is rapidly growing due to urbanization, construction activities, and awareness of water-related damage, along with climate challenges like heavy rainfall and flooding.
 

In terms of country, China is dominating the Asia Pacific market in terms of market share of around 32% during the 2023. China's large construction sector, population, and frequent extreme weather make it a key market in the Asia Pacific region.