U.S. Commercial Restoration Waterproofing Membranes Industry Overview
The U.S. commercial restoration waterproofing membranes market size was estimated at USD 715.8 million in 2020 and is expected to expand at a compounded annual growth rate (CAGR) of 5.4% from 2021 to 2028.
Rising emphasis on disaster management plans in government and private offices to minimize economic losses during calamities is expected to drive the market growth. The U.S. is one of the major countries which witnessed a severe impact due to the outbreak of COVID-19 pandemic in 2020. The lockdown strategies and social distancing norms in the U.S. restricted the building and construction activities, thus postponing the commercial restoration projects and negatively impacting the demand for waterproofing membranes.
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The pandemic also led to imposition of lockdown regulations in the countries engaged in production of precursor materials for waterproofing solutions. These regulations also led to transport restrictions, thus disrupting the global supply chain. This in turns further impacted production of waterproofing membranes in the U.S.
The use of waterproofing membranes helps in increasing the life of building structure, as they avoid the corrosions of TMT bars and other structural instruments due to issues such as water leakage, which may cause problems like lowering of structural strength. Thus, companies in the U.S. tend to invest a large sum of money over repair and maintenance of buildings to keep up operations and avoid losses due to them.
The U.S. is witnessing an emerging trend of disaster management insurance schemes at the time of construction of buildings. Various agencies are involved in providing such schemes via long-term agreements with customer companies, which involves making disaster management plans, repair works at the time of occurrence, training of employees, and risk analysis of the building locations from various disasters.
New waterproofing systems, when compared to traditional systems, offer advantages in terms of cost reduction, better planning, and overall concrete protection. Technological innovations aimed for the development of new materials for waterproofing by companies such as Sika AG and BASF SE are expected to remain critical success factors for market growth over the forecast period.
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- Waterproofing Membranes Market – The global waterproofing membranes market size was estimated at USD 22.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.9% from 2022 to 2030. Growing demand from the waste and water management sector coupled with the increasing development in water conservation infrastructure is anticipated to positively impact market growth.
- Polyurethane Market – The global polyurethane market size was valued at USD 72.82 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2030. Increasing demand for building insulation in light of sustainability concerns is expected to escalate the demand for polyurethane during the forecast period.
U.S. Commercial Restoration Waterproofing Membranes Market Segmentation
Grand View Research has segmented the U.S. commercial restoration waterproofing membranes market based on product and application:
U.S. Commercial Restoration Waterproofing Membrane Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 – 2028)
- Liquid Applied Membranes
- Sheet Membranes
U.S. Commercial Restoration Waterproofing Membrane Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 – 2028)
- Building Structures
- Landfills & Tunnels
Key Companies profiled:
Some prominent players in the U.S. commercial restoration waterproofing membranes market include
- Sika AG
- BASF SE
- Kemper System America, Inc.
- DuPont de Nemours, Inc.
- GAF Materials Corporation
- Johns Manville
- Saint-Gobain Weber GmbH
- Isomat S.A.
- Covestro AG
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