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Asia Pacific Waterproofing Membrane Market to Register Exponential Growth from Construction Industry by 2024

Author : Rahul Varpe | Published Date : 2019-04-15 

Positive indicators towards construction industry application supported by increase in demand for reliable and durable construction materials to ensure building quality may drive Asia Pacific waterproofing membrane market size. High investments in restructuring and renovation projects along with growing public infrastructural development should favorably impact industry growth.

Supporting regulatory norms pertaining to green building to reduce environmental impact supported by increasing construction spending owing to rise in living standards may boost product demand. Shifting consumers inclination towards green roof to maintain good internal environment is likely to favor waterproofing membrane market growth.

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Asia Pacific Waterproofing Membrane Market may surpass USD 3 billion by 2024; according to a new research report.  Asia Pacific waterproofing membrane market should register significant growth at over 8.5% by 2024. Increasing number of working demographics accompanied by rising population should fuel product demand. Rise in need for high strength, leakage proof and durable public infrastructures projects such as airports, dams, institutions, industries, and bridges mainly in India and China has led to use of high quality building materials and waterproofing technology, thereby promoting regional industry growth.

Easy accessibility of raw materials accompanied with technological advancements which exerts additional benefits including high UV resistance, vapor permeability, flexibility and ease of application may positively favor industry growth. Polyurethane, PVC, EPDM and TPO are major raw materials used in production process. However, fluctuating crude oil prices may impact waterproofing membrane market price trend.

Asia Pacific bitumen waterproofing membrane market should surpass USD 500 million over the forecasted timeframe. It is prominently used in roofs, underground constructions, carparks and bridges & underpass owing to high water tightness, increase building shelf life, and capability to withstand structural & thermal stress which may stimulate industry growth.

Thermoplastic polyolefins waterproofing membrane should grow steadily over 8.5%. It is recyclable during production process and are considered eco-friendly adhering to green building concepts which may surge product demand. It finds application in landfills & tunnels, garden roofs and basements.

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Asia Pacific waterproofing membrane market from basement application is anticipated to exceed USD 545 million up to 2024. Basements and underground structures are prone to water ingression and logging which may damage building structure. These membranes possess insulation properties and are durable in severe water penetration which may fuel product demand.

Wet area application should witness strong gains owing to strict building codes and standards pertaining to wet areas including kitchen, drainage systems, pipelines, seepages and bathroom is likely to favor waterproofing membrane industry growth.

Asia Pacific waterproofing membrane market share is competitive and fairly fragmented with some major industry participants including, Mapie, BASF Se, Sika AG, Tremco, Dow Chemical, Covestro, Maris Polymer, Fosroc and KCC corporation.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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