Waterproofing Membranes Market: Projected to Reach USD36.62 Billion by 2021

Construction chemicals are specialty chemical compounds used to speed up construction activities or improve durability of existing structures. Expanding infrastructure sector, coupled with increasing number of repair activities in GCC countries have necessitated use of sophisticated technologies in construction activities, owing to which demand for construction chemicals has exhibited steady growth over the last few years, according to a recent report by TechSci Research. GCC construction chemicals market has been segmented into concrete admixtures, waterproofing chemicals, protective coatings, and adhesives and sealants. Additionally, other major construction chemicals consumed in the GCC countries include flooring chemicals, grouts, mortars, anti-corrosive agents, etc. Concrete admixtures and waterproofing chemicals dominate the GCC construction chemicals market, on account of their increasing use in residential as well as commercial structures. 

Chemicals markets in the GCC

The construction chemicals market in the GCC countries is projected to grow at a CAGR of over 7 percent from 2016 to 2021, due to rising government spending on construction projects coupled with increasing participation by private players in the real estate sector, according to TechSci Research. Additionally, growing demand for modern residential complexes and commercial structures is expected to drive demand for construction chemicals in the GCC countries through 2021. Further, increasing need for economic diversification and reducing dependence on oil reserves is prompting majority of the countries in the region to increase expenditure on construction and infrastructure activities. Construction chemicals market in the region is dominated by major global players including BASF, FOSROC and Sika.

“…growing demand for modern residential complexes and commercial structures is expected to drive demand for construction chemicals in the GCC”

Other major players operating in GCC construction chemicals market include Dow Menat, Chryso Gulf and Saudi Basic Industries Corporation. “Increasing need for economic diversification for lowering oil dependence has been resulting in rising investments towards construction activities in the GCC region. Additionally, huge infrastructure and industrial projects with upcoming mega events such as 2022 FIFA World Cup in Qatar and the World Expo 2020 in Dubai is projected to drive demand for construction chemicals in GCC countries in the coming years. Moreover, various government initiatives for construction of green buildings aimed at improving energy efficiency, reducing pollution, increasing water savings, enhancing indoor air quality, and decreasing operation costs, is leading to higher penetration of sustainable and green construction chemicals, thereby fueling growth in GCC construction chemicals market,” said Karan Chechi, Research Director with TechSci Research.


Waterproofing membranes market

Globally, the waterproofing membranes market is projected to reach USD36.62 billion by 2021, at a CAGR of 9.2 percent, according to a recent report by Markets and Markets. The waterproofing membrane market is growing on a rapid pace mainly due to the growing building & construction industry in most of the regions, such as Asia-Pacific, Middle East & Africa, and South America. All these regions have an increasing demand for waterproofing membranes due to increasing governmental investments on infrastructure developments in majority of the developing countries of the regions. In addition, increasing waste & water management activities in the countries have also triggered the demand for waterproofing globally. Roofing & walls is the largest application of waterproofing membranes across the world. Growing end-use industries in emerging nations such as China and India, and energy efficiency are some of the drivers for the waterproofing membranes market. Waterproofing membranes such as TPO, PVC, and HDPE are expected to show high demand in their respective applications. PVC was one of the majorly consumed waterproofing membranes in 2015. The major advantages of PVC include excellent weather insulation, easy installation, superior heat resistance, and increased lightweight characteristics properties. The prime driver for waterproofing membranes consumption is the increasing demand in developing countries coupled with growing manufacturer’s preference for waterproofing membranes products in roofing applications. The water management industry including waste management, water treatment, and wastewater treatment has a wide scope for its expansion, which in turn would help in increasing the consumption for waterproofing membranes in the forecast period.

“The waterproofing membranes market is emerging in various countries such as China, India, Saudi Arabia, and Brazil due to increasing industrial activity”

Market segmentation

Asia-Pacific, North America, Western Europe, Central & Eastern Europe, South America, and Middle East & Africa are considered as the main regions for the waterproofing membranes market in the report. Currently, Asia-Pacific is the largest market of waterproofing membranes, with the maximum share of the total global market. The waterproofing membranes market is emerging in various countries such as China, India, Saudi Arabia, and Brazil due to increasing industrial activity. Some of the primary drivers of waterproofing membranes growth are impressive growth of the construction and water management industry, especially in the developing countries of Asia-Pacific region. The waterproofing membranes manufacturers are affected by price-sensitive customers. Most of the waterproofing membranes are petroleum-based and are vulnerable to fluctuations in the commodity prices. Oil prices have been highly volatile in the recent times with fluctuation of 8.0 percent. This is a major challenge for the waterproofing membranes industry to predict the future price of basic raw materials resulting in low investments in waterproofing system-related projects.

Fatima Saab
Content Editor & Researcher
CPH World Media