DUBLIN--(BUSINESS WIRE )--The "Waterproofing Systems Market by Type (Waterproofing Membranes, Waterproofing Chemicals, Integral Systems), Application (Building Structures, Roofing & Walls, Roadways, Waste & Water Management) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global waterproofing systems market size is estimated at USD 61.3 billion in 2022 and is projected to reach USD 85.9 billion by 2027, at a CAGR of 7.0%, during the forecast period.
The growing demand for cost-effective and efficient materials, along with the increasing demand for waterproofing systems in the construction industry of emerging countries, is driving the demand for waterproofing systems. The industrial development in emerging countries have created a growth opportunity for the market.
However, the potential health and environmental issues pertaining to certain waterproofing systems are hampering the growth of the market. The fluctuation in raw material prices is creating a challenge for the waterproofing systems market. Growing requirements for water management in emerging economies is also creating opportunities for the waterproofing systems market.
The integral systems type segment to register the fastest growth during the forecast period.
The aim of integral waterproofing is to densify the concrete to prevent water ingress and convert wettable capillaries to non-wettable types that would eventually lower the penetration of water into the system. Integral waterproofing is extremely useful for blindside work, such as, deep foundations and bored tunnels; where the waterproofing solution can be incorporated into the concrete batching process. It is also useful for complex designs where sheet goods would be difficult to apply.
Roadways to be the third- largest market segment for waterproofing systems.
Various emerging countries are focusing on constructing better transportation infrastructure, and governments are providing investments through public-private partnership schemes. Construction of bridges and flyovers is rising due to the increasing road traffic. The rise in urbanization has increased the demand for better roadway networks in both rural and urban areas. The life of roads can be increased by providing proper drainage and water-resistant top layers on roads. This is expected to lead to the growth in demand for waterproofing systems in roadways applications.
Europe is projected to be the third-largest waterproofing systems market during the forecast period.
Europe's strong industrial base in developed economies such as the UK, Italy, France, and Germany, is driving the waterproofing systems market in Europe. The construction industry plays an essential role in the European economy. According to the European Commission, the construction industry contributes approximately 9% to Europe's GDP and provides more than 18.0 million jobs. Europe recorded 1,672 disasters that caused 159,438 deaths and USD 476.5 billion in economic damages from 1970-2019. To combat floods and storms and extreme weather conditions, smarter infrastructure is required. The need for efficient infrastructure is expected to increase the demand for waterproofing systems in the region.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900