Waterproofing Membrane Market - By Product (Polymers, Bitumen, Polymer Modified Cement), By Application (Liquid applied Membrane, Sheet Membrane), By End-Use (Roofing, Walls, Building structures, Landfills & tunnels), By Region & Global Forecast, 2023 - 2

Waterproofing Membrane Market - By Product (Polymers, Bitumen, Polymer Modified Cement), By Application (Liquid applied Membrane, Sheet Membrane), By End-Use (Roofing, Walls, Building structures, Landfills & tunnels), By Region & Global Forecast, 2023 - 2032

The global waterproofing membrane market is slated to expand at a considerable rate through 2032 due to the increasing awareness regarding water wastage and management.

A significant uptick in major companies' spending on R&D to introduce new, creative products could help the sector advance. In the coming years, it is anticipated that the population's changing lifestyle will have a positive impact on the construction industry, thus influencing the overall waterproofing membrane market outlook.

The waterproofing membrane market has been segmented into product, application, end-use, and region.

Based on product, the polymer-modified cement segment registered a market share of over $640 million in 2022 and is anticipated to expand at a substantial CAGR of 5% through 2032. The growth is speculated to be bolstered by the growing consumer awareness towards the benefits of green roofs along with environmental sustainability.

With respect to application, the liquid-applied membrane segment accounted for a market revenue of more than $5 billion in 2022 and is set to garner a sizeable share through the forecast period. The segmental growth can be attributed to a shifting customer preference toward low-cost liquid-applied membranes and rising investments in the construction sector.

In terms of end-use, the building structure segment is projected to record a business share of more than $3 billion by the end of 2032 given the increase in demand for both residential and commercial structures. Meanwhile, the others segment is estimated to generate more than $4 billion revenue share over the review timeline driven by the rapid expansion in industrialization.

From the regional outlook, the Latin America waterproofing membrane market secured a market share of more than $370 million in 2022 and is slated to proliferate at a healthy CAGR of over 7.0% over the forthcoming years. This can be attributed to the growing trend of quick building renovations as well as industrial infrastructure development such as pipeline projects and subterranean constructions, which shall increase demand for waterproofing membrane.

Meanwhile, the Middle East waterproofing industry is speculated to record a valuation of over $390 million over 2023 and 2032 owing to the increasing government programs and private sector initiatives. Besides, the growing urbanization in Middle Eastern countries is also expected to fuel the construction industry and boost waterproofing membrane market growth.

Furthermore, the Africa waterproofing sector reported a market share of $150 million in 2022 and is primed to achieve a CAGR of nearly 6.0% through the coming years. The regional demand for waterproofing membrane market will be boosted by increased disposable income and a rise in consumer propensity to own private property.