APAC Waterproofing Membrane Market Share, Trends and Forecast...

APAC Waterproofing Membrane Market Share, Trends and Forecast Analysis till 2033: SPER Market Research

Posted 2024-07-01 06:17:44

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Waterproof membranes are thin layers of material that keep water from entering constructions such as buildings, bridges, and tunnels. These membranes are frequently made of water-resistant materials like bitumen, rubber, or plastic and are applied to surfaces to create a barrier that keeps water out. They are commonly used in water-prone environments such as basements, roofs, and foundations. Waterproof membranes are helpful because they are flexible, durable, and resistant to UV radiation and chemicals.

According to SPER market research, ‘Asia Pacific Waterproofing Membrane Market Size- By Product, By End-Use - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Asia Pacific Waterproofing Membrane Market is predicted to reach USD 19.11 Billion by 2033 with a CAGR of 5.41%.

Drivers:

Increasing Building Industry Investments: The demand for waterproofing membranes is primarily driven by huge construction industry investments in developing countries such as Thailand and Vietnam. Building and infrastructure development is booming in the construction industry due to population growth, rapid urbanisation, and strong economic growth. As governments and private investors increase their investments in the building industry, there is a greater emphasis on the use of premium waterproofing solutions. They could help to improve the performance and longevity of these assets. As a result, there is an increased demand for waterproofing chemicals and solutions that can successfully meet the unique waterproofing requirements of various construction projects.

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Challenges:

The waterproofing membrane market has various difficulties for growth, including regulatory compliance issues and fluctuating raw material costs. Regulatory compliance is a big challenge for waterproofing membrane manufacturers since they must follow several rules and standards enacted by governments and industry bodies. These regulations can be complex and vary by country, making it difficult for manufacturers to comply. Failure to comply with regulations may result in fines, legal action, and reputational harm. Another issue for the waterproofing membrane industry is shifting raw material costs. Raw material costs, such as polymers and additives, might fluctuate due to supply and demand changes, currency fluctuations, and geopolitical events.

Impact of COVID-19 on Asia Pacific Waterproofing Membrane Market

The building industry is the principal user of waterproofing membranes. COVID-19 has caused significant damage to this business. The construction industry has suffered as a result of logistical difficulties and lockdowns in multiple countries. Supply chain disruptions, labour shortages, logistical issues, limited component availability, diminishing demand, poor corporate liquidity, and factory shutdowns resulting from lockdowns in numerous countries have all had a severe influence on the industry. During this crisis, raw material suppliers and other related businesses are forced to reconsider their approaches to supporting this industry. The pandemic has completely halted the development of both residential and commercial buildings. This industry's demand for waterproofing membranes is expected to be moderate to medium during the crisis.

Asia Pacific Waterproofing Membrane Market Key Players:

China currently controls the Asia-Pacific waterproofing membranes market. Its powerful construction sector, which is driven by rising urbanisation and infrastructure development, has played a vital role in its domination. China's large market size and significant demand for waterproofing solutions in various construction projects have helped it become a major player in the region. Dow Chemical, BASF, Sika AG, DuPont, Covestro, Pidilite, Fosroc, CICO Technologies, Mapie, and others are the market leaders.

Our in-depth analysis of the Asia Pacific Waterproofing Membrane Market includes the following segments:

By Product: