Waterproofing Membranes Market

1. Waterproofing Membranes Market The growing demand for waterproofing membranes from the waste and water management sector, coupled with the increasing development of water conservation infrastructure, is anticipated to positively impact the market growth. Waterproofing membranes find a wide array of usages, including wet rooms, roofs, water and sewage treatment plants, retaining walls, building foundations, and tunnels. The waterproofing membranes market was valued at US$ 22,838.7 Mn in 2018 and is expected to reach US$ 48,148.2 Mn by the end of 2027 and is expected to exhibit a CAGR of 8.7% during the forecast period (2019 to 2027). COVID-19 impact on Global Waterproofing Membranes Market The waterproofing membranes are used mainly in the construction industry. COVID-19 has severely impacted this industry. •The lockdown in various countries and logistical restrictions have adversely impacted the construction industry. Supply chain disruptions, workforce unavailability, logistical restrictions, limited availability of components, demand drop, low company liquidity, and shutdown of manufacturing due to lockdown in various countries have adversely affected the industry. Raw material suppliers and other related businesses are forced to re-evaluate their strategies to cater to this industry during this crisis period. •Residential and commercial construction has come to a grinding halt owing to the pandemic. Waterproofing membranes demand from this sector is expected to be low to the medium during this crisis period. Some major issues would be a delay in order shipments, supply chain restriction, manpower & equipment shortage, and material shortage. Post conclusion of this crisis, the market is expected to revive, and demand is likely to increase for the waterproofing membranes market. •The demand for construction activities has increased in the healthcare sector, owing to the pandemic. A rise in demand for new hospitals and care institutions have provided some stability to the construction sector thus driving the waterproofing membranes market Market Trends/Key Takeaways Key players are adopting in-organic growth strategies such product development, among others, in order to expand their portfolio and market share in the global waterproofing membranes market. For instance, in 2018, Supreme Industries Limited, a processor of plastic based in India, launched a new waterproofing membrane called ‘DURAmembrane’ which is a durable, lightweight, and cost-

2. effective solution specially designed for the waterproofing and construction chemicals industries. DURAmembrane is a cost effective solution for waterproofing roofs, basements, terraces, gardens, and bathrooms. Moreover, it is resistant to alkali, salts, and acids. This product was launched to tackle problems associated with leakage in factories and commercial spaces, as a quick and easy-to-apply system ensuring maximum productivity. Recent Developments GCP Applied Technologies •In May 2018, the company entered into an agreement to acquire Stirling Lloyd, a U.K.-based supplier of high-performance liquid waterproofing and coating products. This acquisition has helped GCP to expand its product portfolio and presence in the U.K. market. Sika Group •In January 2019, the company acquired major stakes of Index Construction Systems and Products, an Italy-based manufacturer of roofing and waterproofing systems. This acquisition is expected to help the company in expanding its product portfolio and strengthening its position in the Italy market.