North America Waterproofing Market Report and Forecast 2024-2032

North America Waterproofing Market Outlook

The North America waterproofing market size reached nearly USD 20.37 billion in 2023. The market is projected to grow at a CAGR of 4.80% between 2024 and 2032 to reach around USD 31.06 billion by 2032.

Key Takeaways

• Green roofs are gaining popularity across North America as awareness of climate change rises, which can reduce the need for air conditioning in buildings by around 75%.

• BASF SE, DuPont de Nemours, Inc., and Wacker Chemie AG are a few of the major companies in the market.

• With rising innovation in waterproofing technologies, companies are exploring areas like nanotechnology in waterproofing to enhance the structural integrity of buildings.

To prevent moisture buildup and ensure that water cannot enter through surfaces like floors, walls, and ceilings, waterproofing materials are applied. The extreme cold weather in North America creates opportunities for waterproofing solutions.

One of the major factors driving the North America waterproofing market growth is the growing construction activities in the USA and Canada. Growing demand for urban centres and high urbanisation fuel construction activities in the region. Consequently, it increases the demand for waterproofing to safeguard buildings from extreme climatic conditions. Additionally, a rise in immigration and a growing working population in Canada aid the demand for residential and commercial construction.

Figure: Total Construction Spending in the United States (2018-2026)

Key Trends and Developments

Growth in construction sector; government investments promoting infrastructural development; rise in the working population; the growing popularity of green roofing; and innovations in waterproofing solutions aid the North America waterproofing market expansion

North America Waterproofing Market Trends

The North America construction market continues to grow, driven by factors such as urbanisation, population growth, and infrastructure renewal projects. Additionally, high-growth segments for the USA’s construction sector in 2022 included multifamily and residential improvements, manufacturing, commercial, sewage and waste disposal, water supply, and others. These sectors grew with an annual growth rate of over 10%.

The increasing construction of green buildings amid the growing environmental consciousness is also supporting the North America waterproofing market expansion. Manufacturers, such as MAPEI S.p.A. (Italy) and W.R. Meadows (USA), provide contractors with VOC-compliant liquid waterproofing membranes. These membranes can contribute to LEED points and enhance the structural life of buildings.

Market Segmentation

North America Waterproofing Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Liquid membrane is further divided based on type into bituminous coating, polyurethane membrane, epoxy, and acrylic.

Bituminous membrane is expected to dominate the North America waterproofing market share as it acts as a solid and reliable barrier against water penetration.

Bituminous waterproofing systems are ideal for cold climates owing to their high flexibility at low temperatures. In countries like the USA and Canada, producers of bitumen rolling roofs need to comply with standards, such as ASTM C981-05 and CSA A123.23-15 laid down by the American Society for Testing Materials and Canadian Standard Association. Leading market players such as Sika AG and MAPEI S.p.A. offer customers customisable bituminous membranes to meet evolving customer demands.

Meanwhile, the demand for thermoplastic membranes is substantially rising as they reduce repair and maintenance costs, offer enhanced durability and strength, can withstand normal building movement, and are resistant to bacteria and mould. In addition, the North America waterproofing market growth is being fuelled by the increasing launches of innovative and sustainable thermoplastic membranes in the coming years.

The use of waterproofing solutions in roofs and balconies is significantly rising due to diverse environmental conditions in the region

Waterproofing solutions are widely used on roofs and balconies to withstand diverse climatic situations. With over 83% of the population living in urban areas, coupled with changing climate and global warming, the requirement for optimal waterproofing solutions for roofs and balconies is increasing. The demand for green roof waterproofing surged with mandatory regulations for waterproofing for green roofs.

Besides, increasing renovation and repair activities of bridges, tunnels, and highways by governments are expected to favour the North America waterproofing market expansion in the forecast period.

Competitive Landscape

Major players in the North America waterproofing market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge

Other key players in the North America waterproofing market include GCP Applied Technologies Inc., GAF Materials LLC, Arkema SA, and Evonik Industries AG.

North America Waterproofing Market Analysis by Region

The United States accounts for a major market share due to the growing construction activities and infrastructure development in the country

The United States holds a dominant position in the North America waterproofing market. In August 2023, total construction spending for the residential sector in the United States increased to USD 872.0 billion. Increased disposable incomes have fuelled a surge in residential improvement and renovation projects, leading to a rise in the demand for residential waterproofing solutions.

Meanwhile, the market in Canada is being driven by the rise in immigration and a growing working-age population. In Canada, individuals dealing with basement leaks are increasingly turning to basement waterproofing services, especially during the rainy season. In August 2023, the Quebec region recorded a 10.6% monthly increase in investment of USD 95.0 million, the largest since March 2022 for single-family home construction.

Table: Overview of Tunnel Projects in North America

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North America Waterproofing Market Report Snapshots

North America Waterproofing Market Size

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North America Waterproofing Market Regional Analysis

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