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DUBLIN--(BUSINESS WIRE)--Dec 2, 2022--
The "Below-Grade Waterproofing Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The below-grade waterproofing market quickly rebounded from 2021 onwards and is expected to grow at a healthy CAGR of 5.5% to reach a value of US$ 1.7 Billion by 2027
Below-grade (below-ground level) waterproofing is one of the key technologies used in the construction industry that is now becoming an essential step to protect a structure from water. It is performed to restrict the penetration of water through any below-grade structure. Below-grade waterproofing is performed through either a sheet-based membrane or liquid-coated membrane, depending upon the type of waterproofing material.
High-density polyethylene (HDPE), thermoplastic olefin (TPO), ethylene propylene diene monomer (EPDM), polyvinyl chloride (PVC), bitumen (bituminous and modified bitumen, etc.), bentonite (such as sodium bentonite), and rubberized asphalt are some of the materials, which are extensively used in below-grade structures.
Below-grade waterproofing is widely used in public infrastructure, commercial & residential buildings in structures, such as basements, foundations, planters, tunnels, bridges, elevator pits, and drainage systems. The below-grade waterproofing market currently represents less than a 5% share of the overall waterproofing market. The cost of waterproofing the structures amounts to less than 1% of the total construction cost and saves an equivalent amount or more in future repair and maintenance costs over the service life of the structure.
The outbreak of COVID-19 severely impacted several industries worldwide, with the construction industry proving to be one of its biggest victims. Stringent government measures, taken by the local authorities and governments of several countries, such as the lockdown of major economies, to control the spread of the pandemic not only paused the construction industry growth; but also caused supply chain disruptions.
The lockdown dented the organic growth of the construction industry, which resulted in deteriorated workload activities, production halts, rising raw material costs, and project delays. Many countries shut down their manufacturing sector which led to a sharp decrease in the production of a wide range of materials. The impact of this was quite visible in the construction industry with a shortage of materials causing higher material prices and project delays. As a result of that, the below-grade waterproofing market witnessed a -9.1% decline in 2020.
Increasing demand for energy-efficient buildings coupled with an expected increase in the organic growth of the construction industry, asserts a positive comeback in the need for below-grade waterproofing, offering good growth opportunities for the market participants and investors in the long run.
The market is heading toward consolidation as the industry is noticing several mergers & acquisitions, especially in the past few years. The announcement of Sika to acquire MBCC and the acquisition of GCP Applied Technologies and Chryso by Saint Gobain are the most noticeable ones among several M&As performed. It is anticipated that the market is likely to further consolidate in the coming years.
Companies Mentioned
The below-grade waterproofing market is segmented into the following categories:
Below-Grade Waterproofing Market, by Material Type
Below-Grade Waterproofing Market, by Membrane Type
Below-Grade Waterproofing Market, by Application Type
Below-Grade Waterproofing Market, by Position Type
Below-Grade Waterproofing Market, by End-User Type
Below-Grade Waterproofing Market, by Region
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KEYWORD:
INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE ARCHITECTURE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/02/2022 12:20 PM/DISC: 12/02/2022 12:21 PM
http://www.businesswire.com/news/home/20221202005411/en