North America Below Grade Waterproofing Membranes Market Size, Share & Trends Analysis Report By Application (Commercial, Residential, Industrial, Infrastructure), By Region, And Segment Forecasts, 2023 - 2030

Market Size & Trends

The North America below grade waterproofing membranes market size was valued at USD 389.0 million in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 2.4% from 2023 to 2030. Increasing construction spending, particularly on the development and renovation of commercial spaces is expected to drive market growth. Below-grade waterproofing membranes are witnessing rising adoption in the wastewater treatment industry on account of their ability to prevent groundwater contamination and the leaching of toxic chemicals. Thus, growing environmental restrictions on the discharge of untreated wastewater from municipal and industrial sources are anticipated to boost product demand.

The residential end-use segment in the U.S. is expected to witness substantial growth over the forecast period owing to the rising preference for single-family housing structures. Furthermore, growing population, strong economic growth, an increase in household formation, and low mortgage rates are the key factors aiding the growth of residential construction.

A majority of the present-day waterproofing membranes are manufactured by using polymeric materials such as High-Density Polyethylene (HDPE), bitumen, Polyurethane (PU), and synthetic rubber. However, bitumen and polyurethane are by far the most common raw materials used in the waterproofing membrane production process. Improvements in adhesive technology have enabled the market players to develop waterproofing membranes that can be directly applied to a variety of surfaces such as wood, concrete, and bricks, among others. Moreover, the use of self-adhered membranes significantly reduces the time and labor required for installation.

The dwindling number of qualified and skilled laborers is exerting considerable pressure on the overall construction industry in North America, thus affecting the overall demand for waterproofing membrane products. Additionally, the fluctuations in the prices of key polymeric raw materials are expected to portray a negative impact on the market.

Application Insights

The infrastructure segment held the largest revenue share of 45.1% in 2022 owing to extensive product use to protect and improve the longetivity of various structures such as tunnels, bridges, and subways. Furthermore, rising investments in infrastructure development projects are expected to provide a major boost for the product demand over the forecast period.

Below grade membranes are witnessing growing adoption in tunneling applications owing to their ability to protect the structure against the potential damage caused by moisture or unintentional entry of water. Furthermore, the product offers protection against the danger posed by aggressive water or soil and the effects of chemicals.

The commercial segment is expected to expand at the CAGR of 3.0% over the forecast period. Increasing urbanization and growing government support to develop tourist and commercial infrastructure are expected to drive the product demand in commercial end-use.

Furthermore, the increasing employment rate coupled with the regional expansion of existing companies has led to a rising need for new office spaces, which, in turn, has resulted in increased construction activities across North America. These factors are expected to drive the spending on the refurbishment of old office buildings and support the demand for waterproofing membranes.

Regional Insights

U.S. dominated the market for North America below grade waterproofing membranes and accounted for the largest revenue share of 79.5% in 2022, owing to the growth of residential, commercial, and industrial construction industries. In addition, the U.S. is expected to witness an increased budgetary outlay to develop and renovate aging infrastructure projects such as bridges, tunnels, and subways.

Mexico is expected to expand at the fastest CAGR of 4.3% during the forecast period, on account of the flourishing construction industry. The rapid growth of the construction industry in the country is mainly attributed to the increasing population, fast-paced urbanization, and increased rate of migration.

The industrial sector in North America is likely to witness a significant expansion owing to the rising preference for domestic manufacturing activities. The manufacturing industry is also expected to benefit from the new policy reforms in the U.S. and Mexico, thereby boosting industrial construction and the demand for below grade waterproofing membranes in the region.

Key Companies & Market Share Insights

The market is highly competitive, with a large number of manufacturers accounting for a majority of the market share. Product launches, agreements, strategic acquisitions, and innovations are just a few of the important business strategies used by market participants to maintain and grow their global reach.

Recent Developments

• In July 2021, Sika AG successfully completed the acquisition of American Hydrotech Inc. and its affiliate, Hydrotech Membrane Corporation, in the U.S. and Canada, respectively. Hydrotech was a renowned leader in the production and development of premium waterproofing products. This strategic initiative aided Sika in establishing itself as a significant supplier of green roofs in the North American region.

• In January 2023, W. R. Meadows, Inc. launched two new products i.e., PENTREAT 244-20 W/B and PENTREAT 244-40 W/B. These products are water-based sealers with active silane content of 40% and 20%, respectively. These water-repellent sealers are highly valued for their ability to reduce chloride-induced rebar corrosion, freeze-thaw damage, spalling, and scaling.

North America Below Grade Waterproofing Membranes Market Report Scope

North America Below Grade Waterproofing Membranes Market Report Segmentation

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the North America below grade waterproofing membranes market report based on application, and region:

• Application Outlook (Volume, Million Square Meters, Revenue, USD Million, 2018 - 2030)

  • Commercial

  • Residential

  • Industrial

  • Infrastructure

• Regional Outlook (Volume, Million Square Meters, Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico