Waterproofing TPO Membrane Market REPORT OVERVIEW
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The global waterproofing TPO membrane market size was USD 2648.8 million in 2022. As per our research, the waterproofing TPO membrane market is expected to reach USD 3644 million by 2028, exhibiting a CAGR of 5.5% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, waterproofing TPO membrane experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
A waterproofing TPO membrane represents a thin layer of water-tight material that is put constantly over a hard surface to prevent water from passing through. Waterproof membranes should be sturdy, flexible, and tear resistant so that they may stretch over buildings and cover fractures. Waterproof membranes are classified into two types: sheet-based membranes and liquid-applied membranes. The progress of the construction sector has resulted in an increase in the demand for waterproofing materials for structural integrity. Dampness can cause a variety of issues, including metal corrosion, efflorescence, plaster cracking and softening, and electrical fitting damage. Dampness is also prevented by the application of waterproofing materials, which drives the demand for waterproofing membrane particularly in winter.
The worldwide waterproofing TPO membrane market growth is predicted to rise significantly during the forecast period, owing to an increase in the building and construction industry, improved construction quality, and rising demand in mining. The drivers driving this market are rising government investments in infrastructure development in the majority of developing nations, increased waste and water management operations, cheap installation costs, and labor requirements. The small size and outstanding qualities of waterproofing membranes also drive the industry.
COVID-19 Impact: Halt in Construction Works to Deplete Market Share
Due to the quarantine caused by COVID-19, demand for these sectors has decreased. Authorities were forced to halt construction works in order to prevent the virus from spreading further. Shortages of workers in industries are additionally a concern in the manufacturing process. Because waterproofing membranes are frequently used in the building industry, their demand has declined as a result of shutdown and poor client demand. However, the waterproofing TPO membrane market share has recovered as the region's construction capacity has been reopened.
LATEST TRENDS
"Newly Construction Category to Stimulate Market Development "
The new construction category held the most share of the market and is expected to grow at the fastest rate of expansion throughout the forecast period. Waterproofing is a must-have feature in freshly built buildings. Water enters the structure largely through the foundations, walls, roofs, restrooms, and kitchens. With adequate waterproofing treatment, surfaces of buildings have been impermeable and watertight for many years. Waterproofing a structure during construction prevents water damage and adds value over time owing to lower maintenance expenses.
Waterproofing restoration is required from the foundational stage (which is, in the instance of basements/underground containers) to the roof stage in new building. Precautions should be made throughout the building's construction because prevention is better to cure. The newly constructed segment held the biggest market share in 2021. New construction rules, building of infrastructure, industrialization, and population in emerging economies are all contributing to the expansion.
SEGMENTATION
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By Type
Based on type; the market is divided into 1.2 mm, 1.5 mm, 02.0 mm and other
1.2 mm is the leading part of the type segment.
By Application
Based on the application; the market is divided into residential building, commercial building, industrial building
Residential building is the leading part of the application segment.
DRIVING FACTORS
"Rapid Urbanization to Aid Market Expansion "
Rapid urbanization, infrastructural development, and increasing population expansion are some of the reasons driving the demand for residential and commercial buildings, which in turn drives the demand for waterproofing membranes. The government's increased investment in both private and public infrastructure, such as highways, power plants, water treatment facilities, transportation hubs, bridges, healthcare facilities, and colleges, may influence the market. Furthermore, in developing economies, rising demand for residential areas due to population growth and various government initiatives to provide homes can raise consumption of this product.
"Chemical Utilization in Roofing to Foster Industry Progress "
Roofing held the most market share and will continue to grow at the fastest CAGR over the forecast period. Since it is tasked with keeping precipitation out of the building, the waterproofing membrane serves as an essential part of the roofing system. As the roof is continually subjected to direct sunshine and rain, it undergoes great thermal stresses, affecting its physical qualities and performance. Because they are able to bridge cracks and gaps, pre-formed waterproofing membranes often outperform liquid-applied membranes.
RESTRAINING FACTORS
"Severe Foot Traffic to Stop Market Evolution "
If the business or industrial roof receives a lot of foot traffic, a waterproofing TPO membrane may not be the ideal option. While TPO solutions are suitable for routine foot traffic, their membranes can be damaged when severe foot traffic is present, gravel is used, or tools are dropped. Owing to the above-mentioned fact the waterproofing TPO membrane market can depreciate its value in the coming years.
REGIONAL INSIGHTS
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"Green Building Projects in North America to Support Market Advancement "
North America held the highest market share and will continue to grow at a significant CAGR throughout the forecast time frame. Manufacturers such as Sika provide environmentally friendly goods and have invested in research and development. Manufacturers are increasingly offering green certification to their products for use in sustainable building projects such as green roofs and environmentally friendly structures.
A green roof is any building with an exterior that is totally or entirely covered with flora. These structures must be waterproofed as they provide effective protection from water runoff and adverse weather, and they also promote energy efficiency. Green buildings are quickly developing in the United States as a result of legislation limiting construction emissions in addition to the positive effects of these structures.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.
The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.
List of Market Players Profiled
- Carlisle (U.S.)
- Johns Manville (U.S.)
- Firestone (U.S.)
- Sika Group (Switzerland)
- Soprema Group (U.S.)
- KOSTER (Germany)
- Oriental Yuhong (China)
- Protan (Norway)
- Yuanda Hongyu (China)
- Versico (U.S.)
- CKS (U.S.)
- Hongyuan Waterproof (China)
- Green Shield (U.S.)
- Custom Seal Roofing (U.S.)
REPORT COVERAGE
This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.
In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 2648.8 Million in 2022 |
Market Size Value By |
US$ 3644 Million by 2028 |
Growth Rate |
CAGR of 5.5% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |