The demand for green waterproofing materials is rising due to the emphasis on environment-friendly construction materials in most of the growing economies globally.
According to the latest Arizton's market research report, the global waterproofing market size to reach around USD 17 billion by 2020, growing at a CAGR of over 7% during the forecast period.
Global Waterproofing Market Growth
The growth in residential and commercial constructions is driven by strong economic improvement in emerging markets, lower interest rates, and technological advancements in major countries across regions. Additionally, commercial construction spaces such offices, industrial, and retail facilities are expected to drive the growth of the global waterproofing market during the forecast period. China is expected to experience the highest growth rate in terms of urbanization in major cities across the country, thereby fueling the demand for construction and waterproofing materials during the forecast period.
Rising Demand for Eco-Friendly Materials
Using environmentally friendly product is a trending topic that is grabbing the attention of every sector across the globe. The significant increase in global construction activities every year, propelled by the rise in urbanization, has fueled the demand for green waterproofing products. The demand for green waterproofing materials is rising due to the emphasis on environment-friendly construction materials in most of the growing economies globally. The global demand for green waterproofing materials is likely to be hampered by the shortage of skilled labor. This is because most of the existing labor force is skilled and trained to use chemical-based waterproofing and handling corresponding technologies. However, the shift towards eco-friendly products and focus on sustainability will encourage vendors to launch new products in the global waterproofing market.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by product, raw material, application, and geography
- Competitive Landscape – 5 Key Company Profiles and 13 Other Prominent Vendors
Global Waterproofing Market – Geographic Analysis
The growing interest in green buildings, walkable, ecofriendly roofing, and plaza deck areas are increasing the need for waterproofing in modern building structures in North America. North America’s construction industry has several regulations to increase the quality and safety features of the construction works. This has increased the consumption of waterproofing materials in residential and commercial buildings in the region. The outbreak of COVID-19 pandemic has halted the progress of several large-scale constructions in both the United States and Canada in 2019 and Q1 2020. The United States government plans to invest around USD 2 trillion, which will undoubtedly provide greater support for the overall growth of the infrastructural sector in North America. Revival of industrial and construction activities after the pandemic across several regions is expected to create demand in the global waterproofing market during the forecast period.
The global waterproofing market is highly fragmented due to the presence of several vendors. The leading players have different strategies based on innovation, expansion of business, agreement with suppliers, and M&A to increase footprint is rural waterproofing market. These M&A activities have enabled several manufacturers to increase their market positions and operations thereby, gaining a first-mover advantage in many markets. The demand for eco-friendly waterproofing solutions has become a major trend across all the regions. Several waterproofing manufacturers in Europe have entered joint ventures with natural fiber materials suppliers on a pilot basis. Furthermore, the availability of raw materials has been a major concern for most key players in the global waterproofing market.
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