Waterproofing Systems Market Size, Share, Industry, Forecast and outlook (2024-2031)

Waterproofing Systems Market is Segmented By Type (Waterproofing Membranes, Waterproofing Chemicals, Integral Systems, Others), By Material (Polyurethane, Cementitious Coating, EPDM Rubber, Rubberized Asphalt, Thermoplastic, Others), By Method (Sprayed, Injection, Lining, Rigid, Paintable, Plaster, Others), By Application (Domestic, Commercial, Industrial),  By End-User (Roofing and Walls, Water and Waste Management, Building Structures, Tunnel Liners, Bridges and Highways, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2023-2030

Waterproofing Systems Market Overview

Global Waterproofing Systems Market reached USD 63.8 billion in 2022 and is expected to reach USD 106.6 billion by 2030, growing with a CAGR of 6.7% during the forecast period 2023-2030. The waterproofing systems industry has experienced significant growth due to the surge in infrastructure development projects worldwide.

As urbanization accelerates, there's an increasing need to protect critical structures such as roads, bridges, tunnels and buildings from water-related damage. Waterproofing solutions play a crucial role in ensuring the longevity and structural integrity of these constructions. 

Asia-Pacific is among the growing regions in the global waterproofing systems market covering more than 1/3rd of the market owing to the market expansion is expected to be fueled by rising industrialization in China and India as well as enhanced infrastructure construction. The expanding waste management and roofing sectors are also driving market development in this region. Growth in the Asia Pacific is anticipated to be driven by the usage of waterproofing systems in construction applications. 

Waterproofing Systems Market Scope

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Waterproofing Systems Market Dynamics

Rising Investment in the Construction Industry

The demand for building waterproofing systems and chemicals is expected to increase owing to several factors, including rising investment in the construction sector and a growing requirement for sustainability. Additionally, among other significant drivers anticipated to propel market expansion for waterproofing systems during the projected period are the development of new residential and infrastructural projects. 

Further development and deployment of more effective and economical waterproofing systems are anticipated to follow increased research and development efforts to offer high-performance and cost-effective waterproofing membranes, which will enhance market growth. Additionally, building waterproofing systems are utilized to protect buildings from damage caused by humidity and liquid water and to minimize inside moisture. 

The popularity of these systems has been steadily rising, especially in coastal regions across the world. The requirement to preserve the integrity of buildings and other structures is driving up demand for waterproofing systems, which is considered driving up market growth. Concrete buildings and materials now require more waterproofing as attention is being paid to preventing the growth of mold and mildew on walls and floors.

According to the Research on construction chemicals that FICCI published in January 2013 predicts that the construction market in India would increase by 1.9 times over the following five years. The waterproofing market will be driven by customer awareness and company-specific initiatives such as innovation, market expansion and a technologically driven attitude.

Innovation in Sustainable Waterproofing Systems and Green Buildings

Toxicity and VOC quantity are connected to waterproofing systems. Manufacturers like Sika, Fosroc, Kemper Systems, Pidilite and others provide environmentally friendly solutions and have also made research and development investments. Manufacturers are increasingly awarding their goods with green certification for usage in environmentally friendly construction projects like green roofs and green buildings. Any building with a roof that is entirely or partially covered with plants has a green roof. 

They help in lowering energy expenses, the impact of the urban heat island, removing noxious airborne particles and reducing stormwater runoff. On the other side, green buildings are energy-efficient structures. A crucial component of these building types is waterproofing. Energy efficiency and effective protection from weather and water runoff are provided. Due to laws governing building emissions as well as the advantages of these institutions, green buildings are expanding rapidly in nations like Germany and U.S.

Rising Prices For Raw Materials

The cost of raw materials and their availability are significant factors that impact the cost of finished products. The main constraint limiting the global market for waterproofing solutions is the fluctuating price trends of raw materials, which alter as a result of fluctuating energy prices given that most raw materials are petroleum-based. According to BP statistics show that in 2018, the average oil price rose from USD 54 per barrel to USD 71 per barrel. Therefore, the expansion of the waterproofing systems market is severely impacted by the change in oil prices. 

In addition, workers may be exposed to unsafe vapors while applying waterproofing products like bitumen. Long-term exposure to these pollutants may cause bronchitis and nasal discomfort, among other health problems. However, practically all nations have outlawed both internal and international travel as a result of the pandemic. 

A significant decrease in demand for transportation fuel resulted from this, which had an impact on crude oil prices. The geopolitical unrest in Eastern Europe has an additional effect on the pricing. Because Russia invaded Ukraine in March 2022, crude oil prices have ever been above USD 100 per barrel.

Waterproofing Systems Market Segment Analysis

The global waterproofing systems market is segmented based on type, material, method, application and region.

Rising Demand For Waterproofing Membranes Due to Rising Popularity of Green Roofing and Construction

The waterproofing membranes have seen a significant increase owing to the need to protect infrastructure and structures from water damage and infiltration, which is one of the factors driving up demand for waterproofing membranes. In order to prevent water damage, waterproofing membranes can be used on a variety of surfaces, such as roofs, walls and foundations. 

The increased knowledge of how essential waterproofing is to preventing structural damage and maintaining the lifetime of buildings and infrastructure is also fueling demand for waterproofing membranes. The need for waterproofing is paramount in areas that frequently encounter hurricanes, strong rains and other natural catastrophes. The mentioned factors have made the segment contribute nearly 40.1% share globally.

Waterproofing Systems Market Geographical Penetration

Asia-Pacific Growing with the Population and Rising Construction Industry

The increase in building projects is mostly the consequence of a growing population and the associated need for additional homes and businesses for a variety of uses. Demand for waterproofing solutions is being impacted by construction initiatives like India's "100 Smart Cities" and "Housing for All by 2022." Additionally, the Chinese government spent 1.9 billion in 2019 on 13 public housing projects. As a result, the expansion of the Asia Pacific waterproofing solutions market is being driven by the increased building in these nations. 

Additionally, the real estate and urban development industries make up India's construction industry. Residential, office, retail, hotels and theme parks are all included in the real estate section and the subsegments of water supply, sanitation, urban transportation, educational institutions and healthcare are a part of the urban development segment.

According to the National Investment Promotion & Facilitation Agency, the National Bank for Financing Infrastructure and Development (NaBFID), a USD 2.5 billion development finance institution, would be developed to finance infrastructure projects in India.

The need for better infrastructure and the rising population in developing nations, particularly in Asia-Pacific, are likely to increase the demand for waterproofing systems globally. In 2019, there were around 7.7 billion people on the planet, with about 60% of them living in Asia-Pacific. Nearly 80% of the world's population lives in developing nations, where there is a rising need for urban infrastructure and housing for residents.

Major Key Players

The major global players include BASF SE, Sika AG, RPM International Inc., GCP Applied Technologies Inc., Pidilite Industries Limited, Carlisle Companies Inc., DOW, Kemper System America, Inc., Mapei Corporation and Henkel AG & Co. KGaA.

COVID-19 Impact Analysis On Waterproofing Systems Market

Worldwide supply chains have been disrupted by the pandemic and this includes the acquisition of the raw materials and components required for waterproofing system production. Production has been delayed as a result and there may be a scarcity of some goods. Each dealer in the building sector has anticipated crises that would arise as a result of the pandemic conditions that COVID-19 is causing internationally in the construction gas market, but COVID-19 has a mixed pattern problem for the construction enterprises in emerging nations. 

Russia- Ukraine War Impact

Around the world, negative effects are anticipated, particularly in Eastern Europe, the European Union, eastern & central Asia and U.S. This claim has significantly disrupted trade dynamics and had a negative impact on people's lives and means of subsistence. It is anticipated that the continued conflict and unpredictability in Eastern Europe would negatively affect Ukraine and have severe, long-lasting impacts on Russia.

In light of the most recent information on the war and the world's responses, the research analyses the implications for demand-supply balances, pressure on pricing variations, influence on import/export and trade and short-term suggestions to the global waterproofing systems market.

Key Developments

• On May 19, 2022, Sika acquired United Gilsonite Laboratories (UGL), a well-known American manufacturer of products for DIY and consumer waterproofing applications. Major U.S. stores carry their line of products, which are sold through the distribution channel. The acquired company is the ideal addition to Sika's high-value-added technologies for waterproofing and renovating masonry and concrete. UGL reached revenues of CHF 65 million in 2021.
• On March 2, 2022, Sika acquired Sable Marco Inc., a Quebec City-area company that makes cementitious materials and mortars and is located in Pont-Rouge. With this new acquisition, Sika has more chances in Eastern Canada and could have much better access to the retail distribution channel.
• On January 9, 2020, BASF launched a waterproofing membrane MasterSeal 730 UVS, which now is available throughout Asia as part of the company's Master Builders Solutions brand. MasterSeal 730 UVS is a pre-applied waterproofing membrane made of high-density polyethylene (HDPE) sheets that have been treated with a specific pressure-sensitive adhesive and protective coating to provide strong adherence to concrete surfaces without the need for additional protective screed.

Why Purchase the Report?

• To visualize the global waterproofing systems market segmentation based on type, material, method, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of waterproofing systems market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Technology mapping available as excel consisting of key technologies of all the major players.

The global waterproofing systems market report would provide approximately 70 tables, 78 figures and 181 Pages.