Waterproofing Membranes Market Trend by 2024
APAC waterproofing membranes market, where the construction industry has reached new horizons in the recent decades, modified bitumen membranes are being widely used. It has in fact, been forecast that waterproofing membranes market size from bitumen will cross USD 4 billion by 2024.
Waterproofing membranes market has witnessed a major boost in countries such as China, India, Indonesia, etc., where construction and infrastructural development is increasing not only due to the increasing economy, but also on account of the governmental support for infrastructural development projects. This has revolutionized the regional waterproofing membranes industry, as waterproofing is not only required on surfaces exposed to the elements, but also underground structures that require an impermeable membrane barrier to keep water out that tends to seep in due to increased hydrostatic pressure.
Waterproofing Membranes Market is estimated to register a substantial growth rate in the ensuing years, driven by its close association with the global construction industry, which incidentally, will continue to grow at an exponential rate. Waterproofing buildings, as on today, is a vital necessity to make the construction more resistant to weather changes and environmental impacts that can easily denigrate the strength and longevity of the buildings. The product landscape of waterproofing membranes industry is rather varied, since different materials are required for different types of waterproofing. However, waterproofing is an inevitable step in construction, subject to which waterproofing membranes market is bound to witness dynamic growth over 2016-2024.
Polymer waterproofing membranes market size was pegged at $2.5 billion, driven by the sales of TPO and PVC. TPO, being an environmentally safe membrane with the absence of volatile substances, resistance to low temperatures and chemical inertness to bitumen and polystyrene insulating materials, has been forecast to drive waterproofing membranes market outlook in the years ahead. It is also imperative to mention however, that a large portion of the waterproofing membranes industry is also captured by PVC waterproofing membranes which are UV and fire resistant, and also possess strong elasticity and a wide color range.
Waterproofing membranes market has witnessed a major boost in countries such as China, India, Indonesia, etc., where construction and infrastructural development is increasing not only due to the increasing economy, but also on account of the governmental support for infrastructural development projects. In India, for instance, public and private sector initiatives have resulted in the construction of metro rails, express highways, large capacity underground parking and multi storied building complexes. In consequence, this has revolutionized the regional waterproofing membranes industry, as waterproofing is not only required on surfaces exposed to the elements, but also underground structures that require an impermeable membrane barrier to keep water out that tends to seep in due to increased hydrostatic pressure.
In China, the 12th Five-year plan specifies the construction of 56 airports with the expansion of 16 existing airports, thereby proving that airports alone can provide a big boost to China waterproofing membranes market.
