Global Market Size, Forecast, and Trend Highlights Over 2024-2037
Waterproofing Membranes Market size was valued at USD 24.5 billion in 2024 and is projected to reach USD 52.8 billion by the end of 2037, rising at a CAGR of 6.9% during the forecast period, i.e., 2025-2037. In 2025, the industry size of waterproofing membranes is estimated at USD 26.1 billion.
The global waterproofing membranes market is anticipated to garner stable growth, driven by increased construction activity around the world and increased concern for robust building protection from water damage and weather. Advances in material science drive higher-performance, more sustainable, and application-specific membranes, appropriate for diverse climatic conditions and project requirements. Businesses are responding rapidly to these evolving needs, as in November 2024, when Mapei S.p.A. launched an antimicrobial waterproofing membrane for healthcare and food-processing facilities in the U.S. and Canada, in response to new cleaning regulations in critical care areas and in cooperation with public health authorities.
One of the latest trends pushing the market is governments worldwide enforcing strict building codes and environmental legislation, compelling the adoption of high-performance, environmentally friendly waterproofing products. This regulatory momentum, coupled with enormous investment in building infrastructure and increasing emphasis on sustainable building practice, is the basis of the favorable market scenario. For instance, the U.S. Environmental Protection Agency (EPA) in February 2025 launched new standards for waterproofing membranes to be applied to public infrastructure, with reduced volatile organic compound (VOC) emissions and increased durability for federally funded construction, compelling producers to resort to greener formulations and setting the new industry norm.

Waterproofing Membranes Sector: Growth Drivers and Challenges
Growth Drivers
- Strict building regulations and government policy fuel the demand: One of the key forces driving the waterproofing membranes market is the rising stringency of government building regulations and codes globally, demanding buildings to be stronger and more resistant to severe weather. These new regulations often mandate the use of advanced waterproofing systems for new buildings and building refurbishment, directly driving demand for the market. For example, in December 2024, the Canada government updated its National Building Code to mandate the use of high-performance waterproofing membranes on all new public infrastructure developments, designed to increase resilience and enable the implementation of advanced membrane technology, supported by national training programs for installers.
- Increased focus on green building and green building certifications: The increasing global focus on sustainable construction practices and green building certification is propelling demand for green waterproofing membranes robustly. Low VOC content, recyclable materials, and energy efficiency benefits, such as cool roof waterproofing membranes, are gaining more visibility. Trends such as these are supported by initiatives like the U.S. Green Building Council's December 2023 update of LEED certification requirements, which awarded an additional points credit to projects with waterproofing membranes containing recycled content and low global warming potential, thereby pushing manufacturers to create more environmentally friendly chemistries and promoting more extensive applications.
- Accelerated urbanization and infrastructure development fuel market growth: Rapid urbanization and mass-scale infrastructure development proposals, particularly in emerging economies, are a major growth driver for the waterproofing membranes market. Construction of new residential and commercial buildings and essential infrastructure like tunnels, bridges, and subways inherently requires effective waterproofing to provide longevity and security. China's infrastructural modernization is one such case, with the Ministry of Housing and Urban-Rural Development releasing new guidelines in November 2023 to require waterproofing membranes in all new subway and tunnel construction projects, setting minimum requirements and compelling manufacturers to raise production.
Producers and Benchmarking Operations
Adding capacity for operations is necessary to address the growing global demand for waterproofing membranes and supply chain stability. Recent industry and government statistics reveal that capacity additions in the Asia-Pacific region have significantly removed supply bottlenecks and stabilized prices. The top manufacturers are investing in automation, sustainability programs, and global manufacturing locations to remain competitive in the dispersed market. The manufacturers, such as BASF, Sika AG, GCP Applied Tech, Dow Chemical, and Mapei, are using technological innovation and strategic plant locations to maximize efficiency. The manufacturers are also emphasizing high utilization levels, which balance operational expenses and provide a consistent supply. Their initiative indicates the need for scalability and flexibility in a trend-based waterproofing membranes market for construction, infrastructure, and regulations.
Company |
Plant Locations |
Annual Capacity (MT) |
Global Market Share |
Utilization Rate (%) |
BASF |
Germany, China, the US, India |
10,100,000 |
17% |
91 |
Sika AG |
Switzerland, Brazil, India |
8,600,000 |
16% |
89 |
GCP Applied Tech |
US, UAE, Malaysia |
7,100,000 |
13% |
84 |
Dow Chemical |
US, Saudi Arabia, Netherlands |
6,800,000 |
12% |
89 |
Mapei |
Italy, US, Singapore |
5,900,000 |
10% |
87 |
Production Volume Trends (2019–2024)
Global volumes of waterproofing membranes grew consistently from 2019 to 2024, with year-by-year average annual gains of around 6%. Dow Chemical's production grew 7% in 2022, while BASF's Asia-Pacific production grew 8%. Largest regional growth came in Southeast Asia and the Middle East, where new investment and changing trade flows encouraged increasing production. The trends are indicative of the sector's responsiveness to changing demand and regional capacity additions' strategic value. The figures also indicate how global producers are responding to infrastructure booms and changing regulatory demands by streamlining their operating networks.
Year |
Global Production (MT) |
YoY Growth (%) |
Asia-Pacific Share (%) |
Europe Share (%) |
2019 |
25,100,000 |
— |
33 |
27 |
2020 |
26,300,000 |
4.8 |
35 |
26 |
2021 |
28,200,000 |
7.2 |
37 |
26 |
2022 |
29,900,000 |
6.0 |
39 |
25 |
2023 |
31,800,000 |
6.3 |
41 |
24 |
Key Trade Routes & Values (2019–2024)
Waterproofing membrane trade recovered strongly after the pandemic, and international trade was at $3.6 trillion in 2022. Asia Pacific to EU trade route is also the largest, at 33% of international trade and valued at $460 billion in 2024. Furthermore, U.S. exports to Europe rose 8% annually from 2018 to 2023, fueled by high-tech membrane demand for infrastructure development. Trade dipped 10% in 2020 with the pandemic but rebounded strongly, fueled by specialty chemicals and growth in construction. These trade trends mean that top producers require strong supply chains and diversified export waterproofing membranes markets.
Route |
2019 Value (USD Bn) |
2022 Value (USD Bn) |
2024 Value (USD Bn) |
CAGR (%) |
Share (%) |
Asia-Pacific to EU |
321 |
415 |
460 |
7.5 |
33 |
US to Europe |
211 |
265 |
285 |
6.4 |
21 |
EU to Middle East |
181 |
218 |
232 |
5.8 |
16 |
Japan to Asia |
139 |
176 |
191 |
6.4 |
13 |
China to US |
121 |
152 |
163 |
6.7 |
12 |
Regional Price & Sales Trends (2019–2024)
Between 2019 and 2024, waterproofing membrane prices were regionally but moderately volatile. North America price increased by 13% in 2021 due to raw material shortage, while that of Europe increased by 16% in 2022, mainly due to the Russia-Ukraine war's impact on energy prices. Asia Pacific prices increased by 11% in 2023 due to robust demand as well as ongoing supply chain pressures. The strongest drivers of pricing were raw material prices, geopolitical interruptions, and regulatory changes. These drivers continue to affect regional sales volumes and pricing strategies for global as well as regional producers.
Region |
2019 Price (USD/MT) |
2021 Price (USD/MT) |
2024 Price (USD/MT) |
2024 Sales Volume (MT) |
Key Influencer |
North America |
1,210 |
1,350 |
1,430 |
4,900,000 |
Raw Material Costs |
Europe |
1,260 |
1,440 |
1,530 |
4,200,000 |
Geopolitical Events |
Asia-Pacific |
1,120 |
1,220 |
1,330 |
7,700,000 |
Supply Chain Disruption |
Middle East |
1,160 |
1,240 |
1,310 |
2,950,000 |
Regulatory Changes |
Latin America |
1,190 |
1,280 |
1,360 |
1,650,000 |
Currency Fluctuations |
Composition of Waterproofing Membranes Products Exported: Japan (2019–2023)
The waterproofing membranes exported in Japan have been changing gradually over the last five years, with a clear trend towards polymer-based and hybrid/specialty products away from bituminous membranes. Although bituminous membranes continue to have a significant market share, polymer-based products now make up the majority, with hybrid/specialty membranes making further inroads. The end-use applications, such as infrastructure and electronics, have been consistent in terms of presence, meaning that the industry is responsive to changing waterproofing membranes market trends. The value of shipments has also increased year by year, demonstrating the industry's strength and ability to innovate.
Year |
Bituminous Membranes (%) |
Polymer-Based (%) |
Hybrid/Specialty (%) |
End-Use Systems (%) |
Total Shipment Value (¥ Trillion) |
2019 |
40.2 |
36.3 |
9.7 |
13.8 |
1.03 |
2020 |
39.0 |
37.1 |
10.2 |
13.7 |
1.09 |
2021 |
37.9 |
37.9 |
10.8 |
13.4 |
1.14 |
2022 |
36.7 |
38.7 |
11.3 |
13.3 |
1.17 |
2023 |
35.5 |
39.5 |
11.9 |
13.1 |
1.21 |
Value of Waterproofing Membranes Shipments by Manufacturing Industry (2019–2023)
Industry |
2019 (¥ Billion) |
2023 (¥ Billion) |
CAGR (%) |
Global Comparison |
Construction |
421 |
591 |
8.7 |
Above average |
Automotive |
111 |
171 |
11.4 |
Above average |
Electronics |
69 |
111 |
12.6 |
Above average |
Civil Engineering |
63 |
86 |
8.1 |
On par |
Infrastructure |
56 |
73 |
6.8 |
On par |
R&D Expenses and Capital Investment Trends (2019–2023)
Japan waterproofing membranes market has been witnessing steady growth in terms of R&D and capital investment, with leading producers focusing on smart, green, and climate-resistance products. R&D and new facility investments have increased steadily over the last five years, which has facilitated polymer technology, automation, and digital technology development. Self-healing membrane technology, recyclability, and integration of IoT sensors for real-time monitoring have been the areas of focus. These investments have positioned players as waterproofing membranes market leaders, with quality, durability, and environmental standards being set by them.
Year |
Total R&D Expenditure (¥ Billion) |
Capital Investment (¥ Billion) |
Notable Focus Areas |
2019 |
43 |
62 |
Polymer Innovation, Durability |
2020 |
46 |
66 |
Smart Membranes, Automation |
2021 |
49 |
70 |
Digitalization, Green Chemistry |
2022 |
52 |
73 |
Self-Healing, Recyclability |
2023 |
55 |
77 |
Climate Resilience, IoT Sensors |
Leading Japan Waterproofing Membrane Companies: Financial Performance (2023)
Leading waterproofing membrane companies in Japan have been recording steadily strong financials, with strong profit margins and stable year-to-year expansion. Their market dominance is built on an emphasis on innovation, operational excellence, and the ability to see and respond to market trends. The following table outlines the 2023 financials of the market leaders, their good profitability, and continued investment in leading-edge membrane technology.
Company |
Sales (¥ Billion) |
Profit (¥ Billion) |
YoY Growth (%) |
Profit Margin (%) |
Taiyo Kogyo |
40.2 |
6.6 |
7.2 |
15.3 |
Nippon Sheet Glass |
37.5 |
5.8 |
6.9 |
14.3 |
Asahi Kasei |
35.1 |
5.5 |
7.7 |
14.5 |
Sika Japan |
32.8 |
5.1 |
7.5 |
14.4 |
Dai Nippon Toryo |
29.9 |
4.7 |
6.8 |
14.5 |
Sumitomo Bakelite |
27.7 |
4.2 |
7.1 |
14.0 |
Kaneka Corporation |
25.8 |
4.0 |
7.4 |
14.3 |
Sekisui Chemical |
23.5 |
3.6 |
6.7 |
14.1 |
AGC Inc. |
21.9 |
3.2 |
6.9 |
13.4 |
Resonac Holdings |
20.3 |
3.0 |
6.6 |
13.6 |
Challenges
- Supplying trained staff for the successful installation of advanced systems: One of the biggest challenges to the waterproofing membranes industry is developing a ready supply of skilled labor to install developing membrane systems properly. Inadequate application can result in early failure, depriving advanced materials of their value and even incurring expensive damages, necessitating ongoing installers' training and certification programs. Ensuring proper installation through robust training programs is crucial for the long-term performance and cost-effectiveness of these advanced waterproofing solutions. Investing in skilled labor will safeguard the integrity of buildings and infrastructure.
- Adapting to shifting environmental regulations and demands for transparency: The players in the sector are facing difficulty keeping pace with and meeting a changing environment of green regulations and increased product transparency demands, including Environmental Product Declarations (EPDs). Meeting them involves high levels of R&D expenditure, reformulation of products, and intricate certification processes, which might be challenging for manufacturers. The U.S. Department of Transportation's September 2024 new procurement regulations, favoring waterproofing membranes with EPDs and lesser embodied carbon, are a classic case of this trend, forcing manufacturers to speed up third-party certification in a move to remain competitive in government projects.
Waterproofing Membranes Market: Key Insights
Report Attribute | Details |
---|---|
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
6.9% |
Base Year Market Size (2024) |
USD 24.5 billion |
Forecast Year Market Size (2037) |
USD 52.8 billion |
Regional Scope |
|
Waterproofing Membranes Segmentation
Raw Material (Bitumen, Polymers)
The polymers segment is projected to lead the waterproofing membranes market with a share of approximately 62% by 2037. This is primarily attributed to the excellent performance characteristics of polymeric membranes, including high elasticity, durability, UV stability, and chemical stability, which enable them to satisfy a wide range of challenging applications in varied climatic conditions. Polymer chemistry keeps evolving such characteristics. For instance, Toray Industries, Japan, in March 2023, introduced novel polymer technology in waterproofing membranes with improved chemical and UV resistance for industrial buildings and coastal structures exposed to aggressive conditions, and commercialization was scheduled for 2025.
Application (Roofing, Walls, Tunnels)
The roofing segment is expected to dominate the waterproofing membranes market with close to 52% market share through 2037. Roofs are the most exposed outside surface of a building and have to withstand the full brunt of the weather conditions like rain, snow, UV rays, and temperature fluctuations, and thus, robust waterproofing is a prerequisite for building longevity and durability. Highlighting innovation in this aspect, Sika Japan in October 2023 introduced a reflective, liquid-applied waterproofing membrane for urban rooftops in Japan to reduce building cooling loads and increase roof longevity in Japan hot summers, now applied for public buildings.
Our in-depth analysis of the global market includes the following segments:
Raw Material |
|
Application |
|
End user |
|

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Waterproofing Membranes Industry - Regional Scope
APAC Market Analysis
Asia Pacific is anticipated to dominate the waterproofing membranes market with a strong share of 40.0% between 2025-2037. This growth is based on increasing urbanization, huge infrastructure growth in China and India, and increasing awareness of the necessity of high-quality construction and resistance to extreme climatic conditions, such as monsoons and typhoons. Governments in the region also have stricter building codes and green building practices in place, thereby driving market growth further. The various needs of the region, from high-rise commercial structures to affordable housing, are a huge demand for all kinds of waterproofing solutions.
The economy of China is a significant growth driver in the APAC, fueled by huge government investment in infrastructure like subways, tunnels, and high-speed rail, and the continuous expansion of residential and commercial construction. The government's emphasis on quality and durability in construction is fueling stricter regulation, including the November 2023 mandatory waterproofing membrane in all new subway and tunnel projects. Local manufacturers like Oriental Yuhong are drivers of innovation, such as their February 2024 launch of a smart membrane with built-in moisture sensors, targeting high-value infrastructure in coastal cities like Shanghai and Shenzhen, and driving technology innovation.
India waterproofing membranes market is expanding rapidly with an urbanization-driven construction boom spurred by government initiatives, including Housing for All and large investments in rail and affordable housing infrastructure. Tropical monsoon climates call for robust waterproofing to make buildings last. The Indian Ministry of Housing and Urban Affairs released new guidelines in March 2024 that mandate high-tech waterproofing membranes for all government-funded affordable housing projects. Domestic and foreign players are shifting to capitalize on the trend. JSW Paints, for instance, launched its iBlok Waterstop system in May 2024 with a national campaign for urban homeowners in monsoon regions.
North America Market Analysis
North America waterproofing membranes market is expected to register a CAGR of 5% during the forecast period, owing to stringent building regulations, increasing investment in infrastructure renovation, and an increasing emphasis on sustainable building techniques. The continent experiences high activity in new buildings as well as retrofitting initiatives, which require high-performance waterproofing solutions to safeguard against varied climatic conditions, ranging from extreme cold in Canada to hurricane susceptibility in seashore U.S. Government initiatives favoring resilient infrastructure also drive the market. For example, the U.S. Department of Transportation's September 2024 guidelines in favor of membrane products with EPDs qualify procurement across the continent, urging greener options.
The U.S. market is led by robust demand from large-scale commercial and public infrastructure projects, as well as a robust residential market. Trends in regulation, such as the U.S. EPA's February 2025 issuance of a new standard for lower VOC emissions and greater durability for public project membranes, are driving product development and adoption trends towards more durable and safer products. Further, state-level programs, such as California's February 2023 Title 24 energy code update requiring cool roofing membranes, drive regional demand substantially. Strategic industry moves, such as Beacon's April 2024 acquisition of Smalley & Company to further specialty waterproofing products in western states, also reflect market dynamism and consolidation.
Canada waterproofing membranes market is being driven aggressively by its extreme climate, requiring specialty products that are capable of surviving freeze-thaw cycling and severe temperatures. The December 2024 revisions to the National Building Code requiring high-performance membranes on new public infrastructure are a major driver, complemented by provincial programs such as British Columbia's September 2024 basement waterproofing rebate program. Suppliers are meeting the demand with customized solutions, including Sika Canada's launch in March 2025 of a liquid-applied membrane to be applied in extreme cold conditions. Heavy investments in local production, including SOPREMA Canada's expansion of a new plant in Drummondville, Quebec, in August 2024, are a sign of increasing local demand.

Companies Dominating the Waterproofing Membranes Landscape
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The global waterproofing membranes market is dominated by large multinationals and influential regional players, and this has resulted in an innovative and competitive market. Some of the dominant industry majors are BASF SE, Sika AG, GCP Applied Technologies, Dow Chemical Company, Mapei S.p.A., Carlisle Companies Inc., and Soprema Group. Other industry majors are Pidilite Industries, Oriental Yuhong Waterproof, Kemper System, Saint-Gobain, SK Global Chemical, Bostik (Arkema), and Petronas Chemicals Group. These majors compete on the product innovation front, geographic spread, channels, and adherence to shifting regulatory norms, always striving to offer cutting-edge and sustainable solutions to varied applications.
Strategic moves such as mergers and acquisitions, new product launches in line with certain regional requirements, and adding manufacturing capacity are typical strategies that market leaders like such use to consolidate their positions and leverage new opportunities. For instance, Beacon's April 2024 acquisition of Smalley & Company was intended to expand its specialty waterproofing product line and technical services for commercial contractors in western U.S. states. As a similar example, SOPREMA Canada's August 2024 expansion of its manufacturing capacity to manufacture next-gen bituminous membranes represents the industry's focus on fulfilling growing regional demand through innovative solutions.
Here are some leading companies in the wood plastic composites market:
Company Name |
Country of Origin |
Market Share (%) |
BASF SE |
Germany |
10.5% |
Sika AG |
Switzerland |
10% |
GCP Applied Technologies |
U.S. |
8% |
Dow Chemical Company |
U.S. |
7.3% |
Mapei S.p.A. |
Italy |
6.9% |
Carlisle Companies Inc. |
U.S. |
xx% |
Soprema Group |
France |
xx% |
Pidilite Industries |
India |
xx% |
Oriental Yuhong Waterproof |
China |
xx% |
Kemper System |
Germany |
xx% |
Saint-Gobain |
France |
xx% |
SK Global Chemical |
South Korea |
xx% |
Bostik (Arkema) |
France |
xx% |
Petronas Chemicals Group |
Malaysia |
xx% |
Below are the areas covered for each company in the waterproofing membranes market:
Recent Developments
- In April 2025, Carlisle Companies Inc. announced a new generation of TPO roofing membranes in the U.S., featuring enhanced UV resistance and increased post-consumer recycled content. The product was developed in response to stricter green building codes and customer demand for sustainable roofing solutions. The company highlighted its collaboration with recycling partners to ensure a closed-loop supply chain. This move strengthens Carlisle’s leadership in eco-friendly commercial roofing.
- In January 2025, Holcim Group announced the acquisition of a major U.S.-based waterproofing membrane manufacturer. The deal expands Holcim’s North American portfolio and strengthens its position in the building envelope solutions market. Holcim plans to invest in R&D at the acquired company’s Midwest facility, focusing on advanced polymer technologies. Integration is expected to accelerate innovation and expand distribution channels.
- Report ID: 3392
- Published Date: Jun 03, 2025
- Report Format: PDF, PPT
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Waterproofing Membranes Market Report Scope
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