Waterproofing system market is anticipated to grow at a CAGR of 6.2% during the forecast period. The market is driven by the rising demand for cost-effective and efficient waterproofing systems from the building and construction industries. Waterproofing systems offer several benefits, including protection from UV radiation, chemical resistance, heat resistance, and waterproofing during the rainy season that extends the life span of a structure. 

A waterproofing membrane is a very thin layer of water-tight material that is placed on a surface to restrict the water to pass through it. It is widely adopted in the construction of buildings or existing infrastructures. For instance, the waterproofing membrane can be structured above the structural slab and below the tiles in a flat terrace. Waterproofing membranes inhibit water penetrations and ensure that water does not penetrate the structural slab. As per the report of the US Census Bureau 2021, the total construction spending reached $1,591.6 billion which was $1,469.1 billion in 2020. The growing expenditure on building & construction activities across the globe is a key factor contributing to the growth of the global waterproofing system market.

Impact of COVID-19 Pandemic on Global Waterproofing System Market

The COVID-19 pandemic had negatively impacted the growth of the global waterproofing system market. Market players of the waterproofing system, small or large, are all impacted financially, and working organization-wise. SOPREMA S.A.S., one of the major market players also impacted by COVID-19, stated in its 2020 annual report “After an initial period of hesitation related to the different health protocols set up, both factories and job sites showed a remarkable ability to adapt owing to the creation of "COVID-19 crisis management" steering committees in each of the Group's national and international entities. In the end, the concrete impact on the business in 2020 had been limited for SOPREMA. 

The most notable effect of this crisis had been the way it has disrupted work organizations. Mobility and business travel practices have been significantly modified and for a significant number of employees, working from home has become the new rule, with consequences that may have been positive or negative. However, the experience gained in a time of crisis and the solidarity observed in the teams, both in production and in the offices, give great confidence for the future!” As the situation gets normal, the market has begun to stabilize, and grow.

Segmental Outlook 

The global waterproofing system market is segmented by type and application. The market segmentation based on the type includes waterproofing membranes, waterproofing chemicals, and integral systems. Based on application, the market is segmented into building structures, roofing & walls, roadways, waste & water management, and others.

Roofing & Walls Segment to Exhibit Considerable Growth in the Global Waterproofing System Market

The roofing & walls segment is anticipated to exhibit considerable growth in the global waterproofing system market during the forecast period. Superior tensile strength and climate adaptability along with fire resistance properties to improve flow resistance at high temperatures are the main characteristics of this system that make it suitable for application in roofing and walls. With the increasing construction of residential structure across the globe, the demand for waterproofing system for roofs and walls are also increasing.

Regional Outlook

The global waterproofing system market is further segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North America holds a considerable share in the global waterproofing system market. The presence of key market players with their promising products, and growing expenditure on building structures, and transportation systems are some of the key factors that are contributing to the potential share of the regional market. 

Global Waterproofing System Market Growth, by Region 2022-2028

Asia-Pacific to Exhibit Considerable Growth in the Global Waterproofing System Market 

The growing investment in waste & water management projects and increasing government emphasis on construction growth across the region are driving the regional market growth. With growing construction activities and rapid urbanization in countries such as China and India, the usage of waterproofing systems is increasing in the region. According to the International Trade Association, under China’s 14th Five-Year Plan, the Ministry of Housing and Urban-Rural Development (MOHURD) issued a notice for the Implementation of Urban Renewal Actions in 2020. While China’s urbanization rate reached 60.6% in 2019, this urban renewal policy aims to develop greener and more efficient cities as the government seeks to improve the quality of China’s urban living conditions.

Market Players Outlook

The major companies serving the global waterproofing system market include Sika AG, BASF SE, and Fosroc Mapei S.P.A, among others. The companies are focusing on product innovation, mergers and acquisitions, and finding a new market or innovation in their core competency to expand individual market share. 

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global waterproofing system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.