MarketThe global market forBuilding and construction waterproofingwas estimated at USD 3520 million in 2020, according to Vantage Market Research, and is predicted to increase at a CAGR of 9.3% between 2021 and 2028. Waterproofing is the formation of an impervious barrier over surfaces of foundations, roofs, walls, and other structural members. The function of the impermeable barrier is to prevent water penetrations. The building surfaces are made water-resistant and sometimes waterproof.
Increasing Adoption Of Waterproofing In Building & Construction Industry Is Boosting The Market Growth
The market for waterproofing in building & construction is growing due to the increased use of waterproofing systems and the rising need for efficient and cost-effective waterproofing systems. Furthermore, the increasing use of waterproofing systems in the building industry is propelling the market forward. Improvements in the quality and properties of construction materials are also boosting industry expansion. Also, the application of sheet membranes in offset areas finds installation difficulties which lead to time-consuming activities & also requires highly skilled waterproofing applicators. Whereas, liquid applied membranes are comparatively easy to apply & easy to mold in offset areas.
The primary factor restraining the growth of the market for building and construction waterproofing is growing awareness of many serious negative effects associated with the use of waterproofing membranes or chemicals.
Also, the application of waterproofing chemicals or membranes is hazardous to both the environment and human health. When applied in spray form, waterproofing membranes can be hazardous to the user as well as nearby personnel. These substances may contain fluorinated compounds, which can induce chemical pneumonitis, lung damage, and other respiratory disorders when they reach the respiratory system.
The waterproofing in the building & construction market is segmented on the basis of method cementitious waterproofing, liquid waterproofing membrane, bituminous membrane, bituminous coating, and polyurethane liquid membrane. On the basis of application, the market is divided into roofing & walls, building structure, waste & water management, roadways, and others.
Asia-Pacific region is expected to grow at the highest rate over the coming years.
PVC, EPDM, MB, and TPO waterproofing technologies are lightweight and easy to carry. Furthermore, as compared to built-up roofs, waterproofing methods need less effort and are less expensive to install. The mentioned factors further reduce the overall cost of waterproofing systems, making them a great alternative for both residential and commercial waterproofing applications.