Sep 24, 2020   SOURCE: PR NewsWire

Global Waterproofing Market Outlook to 2025: Major Players have Different Strategies for Innovations

DUBLIN, Sept. 24, 2020 /PRNewswire/ -- The "Waterproofing Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.

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In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Waterproofing Market Report

The waterproofing market by revenue is expected to grow at a CAGR of over 7% during the period 2019-2025.

The global waterproofing market has been intensely propelled by the growth in infrastructural and residential and commercial construction sectors in the last decade. Innovations in waterproofing membranes along with R&D undertakings based on end-user industries, significantly have reduced the production cost of the material. Increasing concerns to protect buildings and constructions from structural damages due to water infiltration are expected to drive the demand significantly during the period 2020-2025.

This surge has forced several established waterproofing manufacturers to expand their operations globally. A majority of contractors around the world prefer to use liquid applied and sheet-based membranes, of which, the climatic condition plays a significant role in the durability of waterproof coatings on building structures.

The widespread outbreak of COVID-19 will have prolonged economic fallout in the APAC region during the forecast period. The region is about to suffer a loss of $212 billion due to the corona outbreak. The pandemic has pushed a majority of contractors to close down their projects in the UK and Ireland. This decision has induced an effect on several subcontracting works that heavily rely on construction works and its growth. The construction industry in the Middle East and Africa has been indirectly affected by the widespread of COVID-19 during Q1 of 2020.

KEY QUESTIONS ANSWERED

1. What is the waterproofing market size and growth rate during the forecast period??
2. Which product/raw material/application/region are generating the largest revenue in the waterproofing market?
3. What are the drivers, trends, and restraints influencing the growth of the waterproofing market?
4. Who are the leading vendors in the waterproofing market, and what are their market shares?
5. What is the impact of the COVID-19 pandemic on the waterproofing market share?

Global Waterproofing Market Segmentation

The global waterproofing market research report includes a detailed segmentation by product, raw material, application, and geography. The liquid applied membrane (LAM) segment is expected to reach revenues of over $18 billion by 2025. LAM is widely preferred among builders across the globe due to its easy applicable nature on any surface. The demand for LAM is expected to grow significantly during the forecast period on account of the rise in new construction and refurbished activities. The COVID-19 pandemic has truncated the growth rates, however.

The bitumen segment is expected to capture the highest revenue in the market by 2025. The ease of application over a wide range of construction surfaces and durable structures of waterproofing materials has increased the popularity of the material among construction companies across the world. The increasing construction of industrial roofing systems across the globe is expected to drive the growth of modified bitumen-based waterproofing during the forecast period.

The growing preference for PVC-based waterproofing solutions in commercial and industrial building constructions across the world is influencing the segment. The increasing demand for customized applications is likely to increase the demand for PVC materials significantly during the period 2020-2025 in several urbanized economies. As PVC membranes are easy to install, have high tensile strength, and are durable, a majority of constructors prefer PVC material, which is increasing their market share.

The growth in construction activities in urban areas in countries such as China, India, Mexico, and Gulf Coastal Countries (GCC) and the increase in re-roofing works in developed economies such as the US and European countries have increased the application of roofing waterproofing works significantly. The global demand for eco-friendly materials in waterproof works, especially in roofing, has made several established players increase spending on R&D activities.

The scope for global underground construction works is expected to grow significantly during the period 2020-2025, owing to the increase in investment in infrastructural projects in several emerging economies across the world. Therefore, the increase in infrastructural activities is expected to drive the demand for underground waterproofing materials during the forecast period.

INSIGHTS BY VENDORS

The global waterproofing market share is highly fragmented. Construction Materials, Firestone Building Products, Soprema Groups, Sika AG, and GAF are the prominent vendors in the market. The market is characterized by several major players having different strategies for innovations, expansion of business, agreements with suppliers, and M&A to increase their footprint into rural segments during the forecast period.

APAC, Europe, and North America have the highest presence of several vendors in the market. The majority of established manufacturers have increased their focus and strategies into M&A through forwarding or backward integration. M&A activities have supported several manufacturers to expand their market positions and operations.

Prominent Vendors

    --  Construction Materials
    --  Firestone Building Products
    --  Soprema Groups
    --  Sika AG
    --  GAF

Other Prominent Vendors

    --  Chryso
    --  Copernit
    --  Derbigum
    --  Parex
    --  Asia Mortar
    --  EP Borneo
    --  Tremco
    --  Maris Polymers
    --  KCC
    --  Kemper System
    --  Covestro
    --  Alchimica
    --  Isomat

For more information about this report visit https://www.researchandmarkets.com/r/xvpwt4

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