Increasing number of construction projects to augment Waterproofing Membrane Market share by 2026
Selbyville, Delaware, United States, September 15 2020 (Wiredrelease) Global Market Insights, Inc –:The waterproofing membrane market is predicted to witness considerable growth in the wake of increasing number of government-backed infrastructure development projects. According to a report by Invest India, the construction sector of India is likely to reach $738.5 billion in terms of revenue by the end of 2022.
Growing awareness regarding the benefits of waterproofing membranes like lower risk of structural disintegration and reduced maintenance costs has driven its use in high strength & durable public infrastructures such as bridges, airports, institutions, and industries. The market has observed a substantial rise in expansion of manufacturing sectors, which has further fueled the need for effective wastewater treatment and water management facilities.
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Growing federal initiatives to boost commercial construction projects in Asia Pacific coupled with rapid urbanization and increasing consumer spending could stimulate the demand for these membranes. Based on these factors, Global Market Insights, Inc., suggests that the waterproofing membrane market may reach USD 14 billion mark by the year 2026.
However, in order to work effectively, these waterproofing membranes are required to be made using quality raw materials and substrate preparation. Their performance is also dependent on the efficiency of the installation process. Factors like a lack of contractor expertise, quality control and poor onsite procedures during conducting these waterproofing activities might hamper the durability and performance of waterproofing membranes.
These membranes are massively used in several water treatment applications like spillways, sewers, treatment & settlement tanks, manholes, inlets, and scraper blades. Wastewater treatment facilities are being built across North America for serving the oil & gas and power sectors and to meet stringent environmental norms. These membranes are developed to deal with multiple stress in wastewater tanks like aggressive microclimates in sealed tanks, varying liquid levels, fluctuating contamination level and environmental effects.
Waterproofing membranes are vital for wall protection in leaking basements & retaining walls that need to go through extensive and costly excavation methods. It prevents water penetration and protects structural elements of the buildings and finished spaces. In addition to this, they are lightweight, flexible, wind tight, water-resistant, and ideal for walls in multiple frames like masonry, timber, and metal frames.
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Companies operating in the waterproofing membrane industry are working on developing new and enhanced products that can provide innovative solutions and take advantage of growing popularity of elastomeric waterproofing products. Several industry players are conducting innovative R&D activities to ensure sustainability and enhance product properties. Companies are also signing strategic acquisition deals to boost their market expansion plans.
Taking March 2020 for instance, Sika decided to expand its Sarnen facility in Switzerland by adding a new production unit for the SikaProof® structural waterproofing membrane. This expansion would significantly boost the firm’s manufacturing efficiency and enable it to keep pace with the rapidly growing market.
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