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The global commercial restoration waterproofing membrane market size was USD 3745 Million in 2022 and is expected to register a revenue CAGR of 7%
NEW YORK CITY, NEW YORK, UNITED STATES, June 21, 2023/EINPresswire.com/ — Commercial Restoration Waterproofing Membrane Market Overview
The market size of the global commercial restoration waterproofing membrane was valued at USD 3745 Million in 2022. It is projected to experience a compound annual growth rate (CAGR) of 7% during the forecast period. Key factors contributing to the growth of market revenue include the increased demand for restoration and repair work in the construction industry, rapid urbanization, and infrastructure development. The rising need to protect commercial buildings from water damage and leaks is also fuelling the expansion of the market.
The demand for commercial restoration waterproofing membrane is driven by the growing emphasis on building care and restoration. There is an increasing requirement for waterproofing membranes in order to restore and repair existing buildings. As buildings age, the need for restoration efforts has risen accordingly. By utilizing waterproofing membranes, commercial buildings can be safeguarded against water damage, thereby enhancing their durability and lifespan. This aspect is significantly driving the demand for commercial repair waterproofing membranes.
Commercial Restoration Waterproofing Membrane Market Segments
The global commercial restoration waterproofing membrane market was valued at USD 3745 Million in 2022, and it is expected to exhibit a CAGR of 7% during the forecast period from 2022 to 2032. By 2032, the market revenue is projected to reach USD 6885.03 Million.
The estimation for the market size is based on the historical data from 2020 to 2021 and the forecast period from 2022 to 2032. The quantitative units used for measurement are in USD Million.
The report on the commercial restoration waterproofing membrane market provides comprehensive coverage of various aspects. It includes revenue forecasts, company rankings, competitive landscape analysis, identification of growth factors, and examination of market trends.
The market segments covered in the report are based on product outlook, application outlook, and regional outlook. These segments provide a detailed understanding of the market dynamics and opportunities in specific product categories, applications, and geographic regions.
Overall, the report aims to provide a comprehensive analysis of the commercial restoration waterproofing membrane market, enabling stakeholders to make informed decisions based on the insights and trends presented.
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Commercial Restoration Waterproofing Membrane Market: Strategic Developments
On 22 September 2015, GAF Materials Corporation acquired Quest Construction Products, which is a U.S. based manufacturer of fluid-applied roofing systems for commercial and industrial applications. The acquisition was aimed at expanding GAF’s product offerings in the restoration waterproofing membranes market.
On 3 April 2017, Firestone Building Products announced the acquisition of Gaco Western, which is a U.S. based manufacturer of waterproofing and spray foam insulation systems. The acquisition was aimed at expanding Firestone’s product offerings in the commercial restoration waterproofing membranes market.
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Commercial Restoration Waterproofing Membrane Market: Competitive landscape
The global market for commercial restoration waterproofing membranes is characterized by intense competition, with a significant share of market revenue being captured by several prominent players. These companies are implementing diverse strategies to gain a competitive edge, including engaging in mergers and acquisitions, forming strategic agreements and contracts, as well as focusing on the development, testing, and introduction of more advanced and effective products.
The global commercial restoration waterproofing membranes market report features the presence of major players, some of which include BASF SE, GAF Materials Corporation, Sika AG, Carlisle Companies Inc., Firestone Building Products, Johns Manville, Tremco Incorporated, Henry Company LLC, Saint-Gobain S.A., and Pidilite Industries. These companies play a significant role in shaping the market landscape and driving its growth through their innovative solutions and strong market presence.
Their expertise and capabilities in the commercial restoration waterproofing membranes sector make them key contributors to the overall market dynamics. These companies continuously strive to enhance their product portfolios, expand their market reach, and establish fruitful partnerships, all of which enable them to meet the evolving needs and demands of the construction industry.
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