According to a new report published by Allied Market Research, titled, “Waterproofing Products Market,” The waterproofing products market was valued at $35.5 billion in 2021, and is estimated to reach $58.9 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
The global waterproofing products market is expected to possess high growth potential in the coming years, increased demand from roofing and walls applications is driving the waterproofing products market. However environmental and health risks associated with waterproofing products are hampering the market. In addition, increasing awareness of green roofs is providing the market with lucrative opportunities in the future.
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Waterproofing is the process of preventing water from entering a building or other infrastructure and causing harm. Waterproofing products form an impermeable barrier that protects the structure from water infiltration and leakage during weather conditions such as rain. The technique minimizes water damage and extends the life of buildings by waterproofing surfaces such as roofs, walls, and foundation surfaces, as well as other structurally important components. In addition to protecting the structure from water damage, waterproofing safeguards it from chemical damage and corrosion.
Demand for more durable and resilient structures and infrastructure is mostly driven by the expansion of the construction sector in a number of developing countries, the continually rising global population, and the fast urbanization of the globe. In addition, the necessity to preserve the structural integrity of newly constructed buildings is expected to drive market revenue growth during the forecast period. Increasingly, waterproofing products are used to prevent water seepage into roofs, walls, buildings, and basements.
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During the forecast period, market growth is anticipated to be fueled by a rise in demand for waterproofing building rooftops. Water damage results in major monetary loss and raises worries about safety risks. For example, water-related issues account for 80% of building faults. Repairing or renovating the roof physically is an expensive undertaking. However, commercial properties benefit from roof insulation and waterproofing of the highest grade. Increasing use of waterproof products and enhancing the total water drainage of the roof contribute to the effective maintenance of commercial and residential structures.
Key Benefits for Stakeholders:
► This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the waterproofing products market analysis from 2021 to 2031 to identify the prevailing waterproofing products market opportunities.
► Market research is offered along with information related to key drivers, restraints, and opportunities.
► Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
► In-depth analysis of the waterproofing products market segmentation assists to determine the prevailing market opportunities.
► Major countries in each region are mapped according to their revenue contribution to the global market.
► Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
► The report includes the analysis of the regional as well as global waterproofing products market trends, key players, market segments, application areas, and market growth strategies.
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Key findings of the study:
► On the basis of type, the coatings segment is expected to grow at a CAGR of 5.5%, in terms of revenue, during the forecast period.
► Depending on the application, the floors and basements segment is expected to grow at a CAGR of 5.7%, in terms of revenue, during the forecast period.
► Region-wise, Asia-Pacific garnered the highest share in 2021 in terms of revenue.
