Project report for Water Proofing Service

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In India, Liquid membranes were preferred over other waterproofing methods in 2016 due to their high efficiency and their low-cost. The innovations in liquid membranes have provided further impetus to the industry. Within liquid membranes, acrylic membranes are expected to see a healthy growth in the coming years as they provide protection to roofs against weather conditions like hail storms, snow and heat. The industry for bituminous membranes will also grow in the forecast period because of their rising demand due to their durability and high tensile strength. The global construction industry is expected to reach INR 21800.610 Crores by 2030 and will aid the growth of the global waterproofing market in the forecast period. Waterproofing is the process of making an object or structure waterproof or water-resistant so that it remains relatively unaffected by water or resisting the ingress of water under specified conditions. Such items may be used in wet environments or underwater to specified depths. Waterproofing is done on a building or any other infrastructure to prevent water from entering the structure and causing damage. It creates an impervious barrier protecting the structure from water seepage and leakages during weather conditions like rains. By making the surfaces of the building like roofs, walls, foundation surfaces and other parts integral in maintaining the structural integrity of the building, waterproof, the process prevents buildings from water damage and increases their life. Waterproofing also ensures that the structure is protected from any chemical damage and corrosion.

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Market potential & Strategy

The global waterproofing market stood at a value of INR 418200.5 Crores in 2020. The market is further expected to grow at a CAGR of 5.8% in the forecast period of 2021-2026. The waterproofing market has been propelled by the growing infrastructure and construction sectors along with a growing demand for waterproofing in end-use sectors like water and wastewater management. Innovations in liquid membranes along with Research and Development undertakings looking to decrease their production costs will further aid the waterproofing market. Government backed initiatives will further augment the industry growth. The waterproofing market due to the rising demand for high-quality construction and expanding wastewater management industry. India and China, in particular, dominate the industry in the region as they are witnessing a significant rise in industrialization and urbanization leading to an increase in infrastructure projects.

The growth of the waterproofing industry is driven by its increasing applications in various end-use industries like construction. The rising construction activities, due to growing population in China and other developing countries, have provided an added impetus to the global waterproofing market. Mining, and water and waste management industries are other end-use sectors driving the industry growth along with a rising overall demand for waterproofing.

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