Waterproofing Membranes Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

Waterproofing Membranes Market size was valued from USD 28.06 billion in 2021 to USD 43.03 billion in 2028 at a significant CAGR of 6.3% from 2022-2028. Manufacturers increasingly obtain green certification for usage in sustainable construction projects such as green roofs and green buildings. Green roofs are any building’s roof structures that are covered in vegetation, either entirely or partially. Green roofs reduce energy expenditures, reduce the urban heat island effect, and reduce stormwater runoff while also removing dangerous air pollutants. The market is growing due to rising demand for residential and commercial spaces and increased investments in the construction of water conservation and wastewater treatment facilities. Focus on the development of hygiene powder coatings is anticipated to create lucrative opportunities for the market players in the waterproofing membranes market. Development of environmentally safe products and strategic collaborations & acquisitions provide lucrative opportunities for the market. Based on product, the bitumen has a significant share of global waterproofing membranes market with a share of 43.7% in 2021 in the global market and projected to grow at 7.5% CAGR over 2022 – 2028 owing to temperature resistant and cost-efficient characteristics. Moreover, bitumen production is economical, and the melting point of bitumen is low.

Recent Market Developments:

In March 2021, Agilent Technologies Inc. announced it has entered into a definitive agreement to acquire Resolution Bioscience Inc., a leader in the development and commercialization of next-generation sequencing (NGS)-based precision oncology solutions. The acquisition complements and expands Agilent’s capabilities in NGS-based cancer diagnostics and provides the company with innovative technology to further serve the needs of the fast-growing precision medicine market.

In July 2021, Sika Expands Roofing and Waterproofing Offerings with Hydrotech Acquisition. With this acquisition, Sika reports that it will become the number-one supplier of green roofs in North America.