New Delhi, Sept. 30, 2024 (GLOBE NEWSWIRE) -- India waterproofing membrane market is projected to hit the market valuation of US$ 1,744.9 million by 2032 from US$ 491.7 million in 2023 at a CAGR of 15.71% during the forecast period 2024–2032.
The India waterproofing membrane market is on the cusp of a significant transformation, fueled by robust infrastructure development and the country's ambitious construction targets. As of 2024, the market is projected to reach a valuation of USD 1.2 billion, driven by the burgeoning real estate and infrastructure sectors. With the Indian government planning to build 100 new airports by 2035, the demand for waterproofing solutions in transportation infrastructure is set to skyrocket. Additionally, the construction of 50 new metro rail projects underway across various cities presents a lucrative opportunity for membrane suppliers to cater to these extensive projects.
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Urbanization is another critical factor shaping the market outlook, with an estimated 300 million homes needed by 2030 to accommodate the growing population. The Pradhan Mantri Awas Yojana, a government initiative aimed at providing affordable housing, has sanctioned 11 million houses, creating a substantial demand for waterproofing solutions to ensure longevity and durability. With the rise of high-rise buildings, particularly in metropolitan areas like Mumbai and Delhi, where over 200 new skyscrapers are expected by 2027, the adoption of advanced waterproofing membranes is anticipated to increase significantly.
Innovation and technological advancements are also transforming the landscape of the waterproofing membrane market. The development of smart waterproofing membranes, which can self-heal and adapt to environmental changes, is expected to revolutionize the industry. Over 150 research and development centers in India are currently focused on creating these cutting-edge solutions. Moreover, the increasing trend of building green structures, with India ranking third globally in LEED-certified buildings, underscores the market's shift towards sustainable practices. As these developments unfold, the India waterproofing membrane market is poised for remarkable growth, promising exciting opportunities for stakeholders across the construction ecosystem.
Key Findings in India Waterproofing Membrane Market
| Market Forecast (2032) | US$ 1,744.9 Million |
| CAGR | 15.71% |
| By Type | Membrane Waterproofing (41.45%) |
| By Application | Roofing & Walls (53.56%) |
| By End Users | Construction (62.49%) |
| By Construction Type | New Construction (74.0%) |
| By Distribution Channel | Offline (69.0%) |
| Top Drivers |
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| Top Trends |
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| Top Challenges |
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Unveiling the Growth Potential of India's Membrane Waterproofing Market
India's waterproofing membrane market is experiencing a remarkable surge, driven by the country's booming construction industry and increasing awareness of building longevity. As of 2023, the construction sector in India has seen investments exceeding USD 1.3 trillion in infrastructure projects, marking an era of unprecedented growth. The Indian government has earmarked USD 750 billion for infrastructure development over the next five years, underscoring the need for robust waterproofing solutions. In the urban housing sector alone, over 30 million housing units are projected to be constructed by 2025, each requiring effective waterproofing to ensure durability. The demand for waterproofing membranes is further propelled by India's diverse climate, with over 80% of the country experiencing heavy monsoon rains annually. These factors have led to an increased adoption of membrane waterproofing, with the market expected to add over 1,500 new players by 2025, enhancing competition and innovation.
The membrane waterproofing segment of the waterproofing membrane market in India is capitalizing on technological advancements and evolving consumer preferences. The introduction of sustainable and eco-friendly membrane products has gained traction, with over 60% of new products launched in 2023 incorporating green technologies. The market's growth is also supported by rising exports, with Indian-made waterproofing membranes finding demand across Southeast Asia and the Middle East, contributing USD 250 million to export revenues in 2023. Moreover, the increase in high-rise buildings and mega infrastructure projects, such as the development of nearly 100 airports under the UDAN scheme, mandates advanced waterproofing solutions.
Rising Influence of New Construction Activities to Strengthen its Position in India's Waterproofing Membrane Market, Controls over 74% Market Share
In 2023, India's construction landscape has expanded exponentially, directly impacting the market. A significant driving force is the government's ambitious infrastructure projects, including the construction of over 15 new metro lines across major cities, which necessitate advanced waterproofing to protect underground structures from water ingress. The agricultural sector is also experiencing a transformation with the introduction of 1,200 new irrigation projects designed to improve water resource management, requiring waterproofing solutions to maintain the integrity of water channels and reservoirs. Additionally, the Indian Railways' ongoing development of 100 new railway stations with modern facilities highlights the increased use of waterproofing membranes to enhance structural resilience against weather elements.
Moreover, the residential real estate sector in the waterproofing membrane market is witnessing a surge, with over 5 million housing units under construction as part of urban expansion efforts. This boom is fueled by the government's push for affordable housing, which emphasizes the use of reliable waterproofing to ensure the longevity and safety of these structures. Furthermore, the commercial real estate market is on the rise, with 200 million square feet of office space slated for completion by the end of the year, driving demand for waterproofing to protect valuable assets. To accommodate the growing urban population, the development of over 300 new shopping malls is underway, each incorporating state-of-the-art waterproofing techniques to prevent damage from monsoon rains. Additionally, with climate change posing significant challenges, there's an increasing focus on constructing 500 new water treatment plants, which require robust waterproofing to prevent contamination and maintain efficiency.
Surging Demand for Waterproofing Membranes in Roofing & Walls Application Set to keep Leading by Capturing More Than 53.56% Share
India’s roofing and wall applications in waterproofing membranes are experiencing an unprecedented surge, driven by rapid urbanization and innovative construction practices. In 2023, the Indian construction industry saw the initiation of 150,000 new residential units, each requiring robust waterproofing solutions to ensure longevity and protection against monsoon-related challenges. The rise in urban housing developments, particularly the construction of over 80 smart city projects, has further propelled the demand for advanced waterproofing membranes. Moreover, the country's infrastructural expansions, including 12 new metro rail projects, require significant waterproofing to protect against water ingress, highlighting the crucial role of these membranes.
Adding to the momentum, the Indian government’s ambitious infrastructure projects, such as the development of 25 new industrial corridors, have necessitated the use of high-performance waterproofing technologies. In 2023, nearly 200 commercial buildings underwent refurbishment to incorporate state-of-the-art waterproofing solutions, reflecting a growing trend in retrofitting older structures. Furthermore, the market witnessed the introduction of 500 new eco-friendly waterproofing products, catering to a more environmentally conscious consumer base. The integration of digital technology, with over 30 construction firms utilizing AI for precision waterproofing application, has enhanced the effectiveness and efficiency of these solutions. As the nation continues to expand its infrastructural footprint, the roofing and wall segments are set to dominate, with expectations of reaching 2 million square meters of membrane consumption annually by 2024, solidifying their pivotal position in the market.
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India's Thriving Waterproofing Membrane Market: Unprecedented Growth, Innovation, and Exciting Opportunities Ahead
The Indian waterproofing membrane industry is experiencing an unprecedented surge, fueled by rapid urbanization, massive infrastructure projects, and a booming construction sector that shows no signs of slowing down! With the government's push for Smart Cities and sustainable development, waterproofing has become a critical component in building longevity and integrity. The market is buzzing with innovation as companies race to introduce cutting-edge solutions that not only protect structures but also enhance their value. This vibrant industry is a hotbed of opportunity, and the excitement is palpable as technological advancements open new frontiers in construction practices.
At the forefront of this exhilarating waterproofing membrane market are key players who are redefining standards and setting new benchmarks. Dr. Fixit (Pidilite Industries) leads with a commanding presence, offering a comprehensive range of waterproofing solutions and spearheading consumer education initiatives. Their commitment to quality and innovation has made them a household name. Sika India, leveraging global expertise, delivers advanced membranes tailored for Indian conditions, capturing the trust of both contractors and architects. BASF India brings a portfolio of high-performance, sustainable products that resonate with the green building movement sweeping the nation. Fosroc Chemicals stands out with its technical prowess and customized solutions, addressing complex construction challenges head-on. Meanwhile, CICO Technologies, with its deep-rooted understanding of local needs and competitive pricing, continues to be a formidable force, especially in government projects. Each player is not just participating but actively shaping the industry's future, making the competition both intense and exhilarating.
The road ahead is paved with opportunities that are as vast as they are exciting! The surge in infrastructure development, heightened awareness about building sustainability, and increasing foreign investments are propelling the industry to new heights. Challenges such as market fragmentation and competition from unorganized sectors exist, but they are dwarfed by the immense potential for growth. Companies that continue to innovate, expand their reach, and invest in educating the market are poised to soar. The fusion of technology, sustainability, and strategic market engagement is creating a thrilling landscape where the possibilities are endless. India's waterproofing membrane industry isn't just growing—it's thriving with an energy that's electrifying, promising a future that's as secure and robust as the structures it protects!
India Waterproofing Membrane Market Key Players
- Public Listed Players
- Asian Paints
- Berger Paints Ltd
- BASF SE
- Carlisle Companies Inc.
- GCP Applied Technologies
- Kemper System America, Inc.
- Pidilite Industries
- Saint-Gobain
- Sika AG
- Other Prominent Players
- Private Listed Players
- Fosroc International
- GAF CA
- Maris Polymers S.M.S.A
- Soprema
- Tremco, Inc.
- Other Prominent Players
Key Segmentation:
By Type
- Membrane Waterproofing
- Bituminous membrane
- Thermoplastic membrane
- EPDM membrane
- Polymer-modified bitumen membrane
- APP Membranes
- SBS Waterproofing Membranes
- Polyurethane & Polypropylene membrane
- Liquid Waterproofing
- Cementitious
- Polyurethane
- Acrylic
- Others (Epoxy)
- Sheet Based Waterproofing
- HDPE Sheets
- PVC Sheets
- Others (Bituminous)
By Construction Type
- New Construction
- Renovation and retrofit
By Application
- Roofing & Walls
- Residential
- Commercial
- Industrial
- Basements
- Residential
- Commercial
- Industrial
- Foundations
- Residential
- Commercial
- Industrial
- Others
- Podiums and Balconies
- Wet Rooms & Terrace
- Others
By End User
- Construction
- Residential
- Commercial
- Industrial
- Infrastructure
- Roads, Bridges & Tunnels
- Railways & Airports
- Waste & Waste Management
- Energy & Power
- Power Plants
- Renewable Energy
- Others
By Distribution
- Online
- Offline
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- Direct Sales
- Distributors and Retailers
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