by Brianna Crandall — July 22, 2016 — A new report from MarketsandMarkets consists of a comprehensive review of major market drivers, restraints, opportunities, challenges, and key issues in the global waterproofing membranes market. The report estimates that the market will grow from USD 23.61 billion in 2016 to $36.62 billion by 2021, at a compound annual growth rate (CAGR) of 9.2%.
With applications including roofing and walls, building structures, and waste and water management, the market is driven by the growing building and construction industry, the improved quality of construction, and an increased demand in mining, as well as increasing waste and water management activities around the world.
TPO: Fastest-growing type of waterproofing membranes
TPO waterproofing membranes are the fastest-growing commercial roofing membranes, and have gained wide acceptance in different industries for their performance and installation advantages at competitive cost. Some other benefits of TPO include its eco-friendly chemistry, recyclability, durability, flexibility, low installation cost, reduced labor requirement, and exceptional heat-resistant properties suitable for energy-efficient roofing systems.
The roofing and walls application of waterproofing membranes has a wide scope for TPO expansion, which in turn would help boost the use of waterproofing membranes globally. Roofing and walls is the largest waterproofing membrane application and is projected to be worth $13.02 billion by 2021.
Asia-Pacific: Largest market
The Asia-Pacific region is the world’s largest market of waterproofing membranes, with a share of 40.1% in terms of volume in 2015. China is the key consumer of waterproofing membranes in Asia-Pacific. Rising roofing, waste, and water management industries are driving the market in the region.
Various mergers and acquisitions, product launches, developments, and expansions in different industries have in turn made the region a potential growth market for waterproofing membranes.
Key vendors
Carlisle Companies Inc. (USA), Firestone Building Products Company, LLC (USA, Soprema Group (France), GSE Environmental (USA), BASF SE (Germany), The Dow Chemical Company (USA), Johns Manville (USA), Sika AG (Switzerland), and GAF Materials Corporation (USA) are some of the key players that are actively present in the waterproofing membranes market.
The 200-page report, Waterproofing Membranes Market by Type (Modified bitumen, PVC, EPDM, TPO, HDPE, LDPE), Application (Roofing & walls, Building Structures, Waste & Water management, Tunnel Liners, Bridges & Highways) and Geography – Forecast to 2021, is available for purchase from the MarketsandMarkets Web site. Early buyers will receive 10% customization on reports, says the company.
