Waterproofing Systems Market Touches New High at US$ 85.9 Billion by 2027, MarketsandMarkets™ Report
The report "Waterproofing Systems Market by Type (Waterproofing Membranes, Waterproofing Chemicals, Integral Systems), Application (Building Structures, Roofing & Walls, Roadways, Waste & Water Management) and Region - Global Forecast to 2027", size is estimated at USD 61.3 billion in 2022 and is projected to reach USD 85.9 billion by 2027, at a CAGR of 7.0%, during the forecast period.
The waterproofing systems market includes major Tier I and II suppliers like Sika, GCP Applied Technologies, Fosroc, Soprema, and Carlisle Construction Materials. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and the Middle East & Africa. COVID-19 has impacted their businesses in 2020 but these companies have recovered in last two years by managing operations and profits. Infrastructural development in post-covid era are supporting growth of waterproofing systems market
Building structures waterproofing systems offers efficient and long term protection from climate exposures and ensure efficient building structure protection. Building structures includes areas other than roofs and walls such as balconies, basement, foundation, retaining walls, storage rooms, underground structure, and others. The increasing population rises demand for residential and commercial buildings. Moreover, growing industrialization in emerging economies such as China, India, Indonesia, Chile, Nigeria, and others is driving the consumption of waterproofing systems in building structures segment.
The Middle East & Africa is among the fastest-growing regions for waterproofing systems. The region has emerging markets such as Saudi Arabia, South Africa, Egypt, Qatar, Kuwait, and the UAE. Saudi Arabia is the largest market for waterproofing systems in the Middle East & Africa. Saudi Arabia and the UAE are also among the major consumers of waterproofing systems in the region. Rising population, growing disposable income, increased demand for roadways, shifting energy landscape, rapid industrialization, and increased urbanization are driving the waterproofing systems market in the region. Growth in the generation of renewable energy and rapid development of non-oil-based projects are expected to drive the waterproofing systems market in the region during the forecast period.
The key players in the market for waterproofing systems are Sika AG (Switzerland), Soprema (France), GCP Applied Technologies (US), Fosroc (UK), Mapei S.p.A (Italy), Carlisle Construction Company (US), Tremco (US), Pidilite Industries (India), and Henkel Polybit (UAE).
