A recently added report by Transparency Market Research, titled, “Waterproofing Membrane Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024,” presents exhaustive information on the market after studying it from every possible angle.
Owing to their excellent water-resistance, waterproofing membrane find application in a range of end use sectors such as civil, construction, water and waste water treatment, and construction. Other unique perceived benefits that are driving their uptake, particularly in building and roofing structures are their energy efficiency, greater durability, resistance to heat, and affordable prices. With a burgeoning population worldwide, there is a pressing need to build more houses. This has significantly driven up the number of residential construction projects thereby stoking the market. In addition, pressing need for waterproofing in the mining sector is also positively impacting the market.
Continued thrust by key manufacturers to come up with more effective materials has been benefiting the waterproofing membrane market. However, posing a challenge to the market on the flipside, is the unstable prices and supply of raw materials. This serves to increase their overall production costs. To overcome such hiccups, astute players in the domain are seen banking upon backward integration mainly to overcome the problem of raw material supply.
The waterproofing membranes are composed of various kinds of materials, namely ethylene propylene diene monomer (EPDM), modified bitumen, low-density polyethylene (LDPE), thermoplastic polyolefin (TPO), high-density polyethylene (HDPE), and polyvinyl chloride (PVC). From a geographical standpoint, Asia Pacific holds a considerable share in the market for waterproofing membrane. This is because of the speedy urbanization in the region leading to a sudden surge in construction and water and wastewater management activities. Two of the biggest economies in the world, China and India are said to be driving the market in the region.
North America is another key player in the market owing to the swiftly rebounding construction sector after the popping of the housing bubble circa 2008 which led to worldwide economic recession. Mining activities in the region are also having a positive influence on its market. The Middle East and Africa is another promising market on account of the large-scale exploration of crude oil in the region which need waterproofing membranes. Europe, meanwhile, having risen on the back of increasing concerns over water and wastewater management is now seeing its growth slow down.
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The Dow Chemical Company, Carlisle Companies Inc., GAF Materials Corporation, Firestone Building Products Company, BASF SE, Johns Manville, Soprema Group, Siplast, Sika AG, and R. Meadows Inc. are to name a few of the key companies operating in the global market for waterproofing membrane. In order to progress in the market such players have been banking upon diversification of product portfolio through product development and mergers and acquisitions. Sensing great potential in the market many new players are eyeing it despite the strict government regulations.