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Report Overview
The Latin America waterproofing market stood at a value of USD 2.53 Billion in 2024. The market is further expected to grow at a CAGR of 5.30% in the forecast period of 2025-2034, to reach a value of USD 4.24 Billion in 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
- Growing construction activities are surging the demand for waterproofing systems to protect structures from water damage, safeguard foundations, basements, and roofs, and ensure the longevity and durability of structures. As per the Mexican Chamber of the Construction Industry (CMIC), the construction sector witnessed a 15.6% growth in 2023. In the forecast period, rapid urban expansion, coupled with the increasing prevalence of extreme weather events, is expected to bolster the Latin America waterproofing market development.
- Large infrastructure projects such as dams, bridges, and tunnels require high-performance waterproofing systems to protect critical components from water-related damage. In 2024, the Peruvian government constructed the longest bridge in the country spanning 2.3 kilometers over the Nanay River. With increasing investments in infrastructural development, the demand for durable and high-quality waterproofing solutions is rising.
- As sustainability becomes a priority in various sectors, manufacturers are developing eco-friendly waterproofing solutions that boast low VOCs, are non-toxic, and are made from renewable resources. The implementation of eco-certifications and green building standards by governments in the regions is further boosting the demand for sustainable waterproofing systems.
Compound Annual Growth Rate
Value in USD Billion
5.3%
2025-2034
Latin America Waterproofing Market Outlook
*this image is indicative*
| Latin America Waterproofing Market Report Summary | Description | Value |
| Base Year | USD Billion | 2024 |
| Historical Period | USD Billion | 2018-2024 |
| Forecast Period | USD Billion | 2025-2034 |
| Market Size 2024 | USD Billion | 2.53 |
| Market Size 2034 | USD Billion | 4.24 |
| CAGR 2018-2024 | Percentage | XX% |
| CAGR 2025-2034 | Percentage | 5.30% |
| CAGR 2025-2034 - Market by Country | Brazil | 5.6% |
| CAGR 2025-2034 - Market by Country | Mexico | 5.4% |
| CAGR 2025-2034 - Market by Application | Roofing and Walls | 6.1% |
| CAGR 2025-2034 - Market by Type | Bituminous Membrane | 6.0% |
| Market Share by Country 2024 | Brazil | 32.5% |
Latin America Waterproofing Market Trends
The growth of the Latin America waterproofing market is expected to grow during the forecasted period of 2025-2034. The market in Latin America is largely driven by the rising demand in the rapidly growing construction industry in the region.
Due to their higher efficiency and lower cost along with product innovations, liquid membranes are one of the leading waterproofing types. Roofs are the major application sector since they are particularly in danger of water and chemical damage and are also susceptible to climate change.
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Latin America Waterproofing Market Growth
The demand of waterproofing market in Latin America is globally being driven by a growing demand from the infrastructure and construction industry. The rising demand in end-use sectors like waste and water management and mining industry are providing further impetus to the industry.
| 2024 Market Share by | Country |
| Brazil | 32.5% |
| Mexico | XX% |
| Argentina | XX% |
| Colombia | XX% |
Recent Developments
As per the Latin America waterproofing market dynamics and trends, Shalimar Paints Ltd. announced the launch of Zero Damp Advance and Zero Damp Smart, two new products in the Home Protect Waterproofing range, in July 2024. These products offer superior protection against seepage as well as a warranty of 12 years.
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Key Trends and Developments
Rising demand for multifunctional waterproofing; growing concerns regarding rapid climate change; development of smart waterproofing solutions; and surging preference for green waterproofing solutions are favouring the Latin America waterproofing market expansion.
Rising demand for multifunctional waterproofing
Amid the growing demand for efficiency and versatility, key players are offering multifunctional waterproofing solutions that can provide superior water resistance while providing benefits such as soundproofing, thermal insulation, and fire resistance to enhance building performance, streamline construction processes, and lower material costs.
Increasing concerns regarding rapid climate change
Latin America is susceptible to the impacts of rapid climate change, including extreme rainfall, glacier melting, floods, and prolonged monsoon, causing water-related damage to buildings such as mould growth, dampness, and structural damage. This is surging the need for high-quality, resilient, and durable waterproofing solutions.
The development of smart waterproofing solutions
The development of smart waterproofing solutions equipped with the Internet of things (IoT) and sensors that can assess moisture levels, detect leaks, and facilitate predictive maintenance is driving the Latin America waterproofing market growth. Such solutions, by leveraging automation and data analytics, can optimise waterproofing performance, minimise costly repairs, and extend the durability of buildings, hence fuelling the market.
Growing preference for green waterproofing solutions
With the rising emphasis on sustainability, there is an increasing preference for green waterproofing solutions that incorporate drainage layers, specialised membranes, and vegetation components to create resilient and sustainable rooftop ecosystems. Moreover, the development of waterproofing systems from non-toxic, low VOC, and durable materials is anticipated to aid the market in the coming years.
Industry Outlook
As per the Latin America waterproofing industry analysis, the growth of the residential sector in countries such as Mexico, Argentina, and Brazil are contributing to the demand for waterproofing to safeguard the buildings from damage and provide extended life span. According to National Institute of Statistics and Geography (INEGI), In April 2024, the residential construction figure in Mexico stood at 139,951 units. In May 2024, it slightly increased to 140,129 units. In June 2024, there was a further minor increase, reaching 140,878 units.
Additionally, as per National Institute of Statistics and Geography (INEGI), in May 2022, there was a decrease of 0.99% in the total construction value in Mexico. June 2022 saw a further decline of 0.89%. In July 2022, the market expanded to 1.97%, which contributed to the growth of the Latin America waterproofing industry. However, in August 2022 a negative growth was seen with 1.13. There was an uptick in September 2022, October 2022 and November 2022 with 1.57%, 0.47% and 3.53% increases respectively. December 2022 showed a minor decrease of 0.01%. The trend reversed in January 2023, with a modest rise of 0.87%. In February 2022, the value dipped again by 1.15%. March 2023 followed with an increase of 1.82%. In April 2023, there was a 2.29% increase. A significant surge occurred in May 2023, where the construction value jumped by 7.82%.
Brazil experienced modest economic growth in 2019 at 1.2% which aided the Latin America waterproofing industry revenue. However, in 2020, the economy contracted significantly by -3.3% due to the impact of the COVID-19 pandemic. The subsequent years showed a robust recovery, with a sharp increase in 2021 at 4.8%, followed by a solid growth of 3.0% in 2022 and a slight decrease to 2.9% in 2023. The GDP in dollar terms fell sharply from USD 1,873 billion in 2019 to USD 1,477 billion in 2020. It rebounded to USD 1,670 billion in 2021, increased further to USD 1,952 billion in 2022, and peaked at USD 2,173 billion in 2023. The nominal GDP growth in Brazil was at 5.5% in 2019, dropping to 3.0% in 2020, which affected the Latin America waterproofing demand. It saw a substantial spike to 18.4% in 2021, possibly influenced by inflationary pressures or currency valuation changes, before settling to 11.8% in 2022 and then slowing down to 7.7% in 2023.
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Latin America Waterproofing Industry Segmentations
Waterproofing forms an impenetrable barrier against water that prevents buildings and other infrastructure from water damage like leakages and seepage. It prevents integral parts of the infrastructure like the foundation, walls, and roofs, among others from not just damage from water but also corrosion and chemical damage. Thus, it helps maintain the structural integrity of the buildings and prolongs their lives.
The various types of waterproofing available in the Latin America waterproofing industry are:
- Liquid Membrane
- Bituminous Coating
- Polyurethane Membrane
- Epoxy
- Acrylic
- Cementitious Membrane
- Bituminous Membrane
- Thermoplastic Membrane (PVC, Others)
Latin America waterproofing market primarily finds its application in the following sectors:
- Roofing and Walls
- Tunnels/Pipelines
- Bridges and Highways
- Basements and Underground Parking
- Drainage
- Others
Market Breakup by Region:
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Bolivia
- Uruguay
- Paraguay
- Panama
- Others
| CAGR 2025-2034 - Market by | Type |
| Bituminous Membrane | 6.0% |
| Liquid Membrane | 5.7% |
| Cementitious Membrane | XX% |
| Thermoplastic Membrane | XX% |
| Others | XX% |
| CAGR 2025-2034 - Market by | Application |
| Roofing and Walls | 6.1% |
| Basements and Underground Parking | 5.7% |
| Drainage | 5.5% |
| Tunnels/Pipelines | XX% |
| Bridges and Highways | XX% |
| Others | XX% |
| CAGR 2025-2034 - Market by | Country |
| Brazil | 5.6% |
| Mexico | 5.4% |
| Argentina | 5.0% |
| Bolivia | 4.6% |
| Colombia | XX% |
| Chile | XX% |
| Peru | XX% |
| Uruguay | XX% |
| Paraguay | XX% |
| Panama | XX% |
| Others | XX% |
Competitive Landscape
Key Latin America waterproofing market players are diversifying their product portfolio to include liquid-applied membranes and self-healing materials. Waterproofing companies in Latin America are also focusing on developing resilient and high-performance waterproofing solutions to protect infrastructure and buildings from severe weather conditions.
Mapei S.p.A.
Mapei S.p.A., headquartered in Milan, Italy, and founded in 1937, is a leading manufacturer of chemical products for the construction sector. Boasting 96 subsidiaries across 56 countries as well as 12,500 employees, the company generated consolidated revenue amounting to EUR 4.2 billion in 2023. Nearly 29,100 tonnes of the company’s products are shipped per day.
Soprema Inc.
Soprema Inc., founded in 1908 and headquartered in Strasbourg, France, is a company that specialises in the production of innovative products for insulation, waterproofing, soundproofing, and building vegetated solutions. The company offers high-performance and high-technology solutions to respond to specific challenges in the construction sector. It operates in 90 countries and boasts 60 factories and 22 training centres.
Fosroc, Inc.
Fosroc, Inc., headquartered in Dubai, UAE, and established in 1972, is a global manufacturer of high-performance chemicals for the construction sector. The company’s innovative products address construction challenges and improve the strength and durability, structural integrity, and aesthetics of buildings.
Carlisle Coatings & Waterproofing
Carlisle Coatings & Waterproofing, headquartered in Texas, United States, is a company that provides reliable weather barrier and waterproofing solutions to suit different building sites. It is a division of Carlisle Construction Materials, a wholly owned subsidiary of Carlisle Companies.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other leading companies in the Latin America waterproofing market include Danosa, Sika AG, MBCC Group, Saint-Gobain, and RPM International Inc., among others.
Latin America Waterproofing Market Regional Analysis
The Latin American region is led by countries like Brazil, Colombia, Venezuela, and Argentina due to the rising urbanisation and increasing disposable income among the middle class. The Latin America waterproofing market revenue in these countries is increased by the growing government expenditures on infrastructure ventures. Brazil, in particular, is an important region and leads in the demand for waterproofing membranes. With the waterproofing products subject to various innovations in the region, the Brazilian market is expected to continue growing in the forecast period of 2025-2034.
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Latin America Waterproofing Market Report Snapshots
Latin America Waterproofing Market Size
Latin America Waterproofing Market Growth
Latin America Waterproofing Market Trends
Latin America Waterproofing Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the Latin America waterproofing market attained a value of nearly USD 2.53 Billion.
In the forecast period of 2025-2034, the market is projected to grow at a CAGR of 5.30%.
The major drivers of the industry include rising disposable incomes, increasing population, and rising construction industry.
The rising government expenditures on infrastructure ventures is likely to be a key trend guiding the growth of the industry.
Brazil, Argentina, Mexico, Colombia, and Chile are the leading regions in the market, with Brazil accounting for the largest market share.
Liquid membrane, cementitious membrane, bituminous membrane, and thermoplastic membrane (PVC, others) are the leading types in the market.
The roofing and walls sector accounts for the largest market share, among other application segments in the industry.
The leading players in the Latin America waterproofing market are Mapei S.p.A., Soprema Inc., Danosa, Sika AG, Saint-Gobain, Fosroc, Inc., Carlisle Coatings & Waterproofing, MBCC Group, and RPM International Inc., among others.
The market is estimated to reach a value of about USD 4.24 Billion by 2034.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
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