Waterproofing systems are products and processes that are used to keep water out of structures. These systems are used to keep buildings safe from water damage such as flooding and moisture. Waterproofing systems are used in many different applications, such as foundations, roofs, tunnels, and retaining walls. They're also used to keep basements and other underground structures safe. The global Waterproofing Systems Market size is estimated at USD 61.3 billion in 2022 and is projected to reach USD 85.9 billion by 2027, at a CAGR of 7.0%, during the forecast period.
The increasing number of weather-related hazards such as flooding, storms, and heavy rains has increased the demand for waterproofing systems in recent years. Waterproofing systems can protect buildings from water damage, allowing them to be used in harsher environments. They are also being used more frequently in construction projects to increase energy efficiency and reduce environmental impact.
The increase in demand for waterproofing systems and the growing construction industry in emerging economies, such as APAC and South America, are driving the market. The key players in the waterproofing systems market include Sika AG (Switzerland), BASF SE (Germany), Fosroc (UK), GCP applied technologies (US), Soprema (France), Mapei S.P.A (Italy), Carlisle Construction Company (US), Tremco (US), Pidilite industries (India), and Henkel Polybit (UAE).
Sika AG (Switzerland) is one of the leading manufacturers and distributors of waterproofing systems. The company adopted mergers & acquisitions as one of its key business strategies. For instance, in June 2020, the company acquired Modern Waterproofing Group, a leading manufacturer of roofing and waterproofing systems in Egypt. It was an addition to the product portfolio of Sika Egypt and offered new opportunities for growth in the Egyptian construction market. The acquired business generates annual sales of USD 28.5 million
BASF SE (Germany) is one of the largest chemical producers globally. The company is among the key players in the waterproofing systems market. The company adopted the strategies of new product launch to strengthen its competitiveness in the global waterproofing systems market. For instance, in April 2018, BASF introduced MasterSeal 7000 CR from Master Builders Solutions for waterproofing and concrete protection for wastewater treatment plants and harsh chemical environments.
