Waterproofing Membranes Market: Key Highlights
- The global waterproofing membranes market was valued at ~US$ 19 Bn in 2018 and is anticipated to expand at a CAGR of ~7% during the forecast period.
- The global waterproofing membranes market is primarily driven by growth in the construction industry and rise in the need to improve the quality of construction. Emerging and developed economies across the globe are carrying out infrastructure developments such as roadways, railroads, and river bank protection projects to sustain economic growth. These civil construction projects boost the consumption of waterproofing membranes, which are commonly accepted as durable and long-lasting products.
Key Drivers of Waterproofing Membranes Market
- Waterproofing membranes are extensively employed in commercial, residential, and industrial structures, as these protect surfaces from harsh climatic conditions. Macroeconomic factors such as improvement in economic conditions in developing countries, growth in purchasing power, and recovery of Europe from the debt crisis are boosting the consumption of waterproofing membranes. End users of waterproofing membranes, such as construction, mining, roofing, and landfills & tunnels, have been expanding their business substantially since the last few years.
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Top Five Players Account for Key Share of Global Waterproofing Membranes Market
- The global waterproofing membranes market is highly moderately fragmented, as a large numbers of small players operate in the market. Currently, the global waterproofing membranes market is expanding at a steady pace. Key players are largely focusing on research and development activities. The top five players – BASF SE, Sika AG, The Dow Chemical Company, Fosroc International Ltd, and Carlisle Companies Inc. – cumulatively accounted for ~40% share of the global market in 2018.
- BASF SE constituted a leading share of the global waterproofing membranes market in 2018. The company offers more than 100 types of waterproofing membranes. Its offices and manufacturing sites are located in almost every major city across the globe. The company invests in expanding its product portfolio in order to maintain its leading position in the market.
- In May 2019, BASF SE introduced the Ucrete UD200 SR flooring system. Ucrete UD200 SR is a heavy-duty, trowel-applied polyurethane concrete floor system formulated for use in wet-process applications, and wherever slip-resistant floors are required.