Wetroom Waterproofing Solutions Market worth $8.3 billion by 2028
CHICAGO, Aug. 29, 2023 /PRNewswire/ -- The report "Wetroom Waterproofing Solutions Market by Type (Fabric/Fleece Backed Sheet Membrane, Pre-Waterproofed Substrates, Shower Pan Liner), Raw material (Polyurethane, PVC, Polyurea, Acrylic, ABS, Polystyrene), Application, & Region - Global Forecast 2028", is expected to grow at a CAGR of 5.4% during the forecast period, from an estimated USD 6.4 billion in 2023 to USD 8.3 billion by 2028. This growth is being driven by the increasing demand for green buildings and sustainable construction practices, the growing popularity of wetroom showers and bathtubs, the need to prevent water damage from leaks and spills, and the rising awareness of the importance of waterproofing in preventing mold and mildew growth, provide growth opportunities for Wetroom waterproofing solutions Market.
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Residential, by application, is expected to be the most significant Wetroom waterproofing solutions Market segment during the forecast period.
The residential sector has emerged as the fastest-growing segment in the wetroom waterproofing market for several compelling reasons. The increasing demand for wetrooms in residential homes is due to their advantages, such as easy cleaning and maintenance, and the ability to create a more spacious and modern bathroom. Rising disposable incomes mean that homeowners are more likely to invest in high-quality wetroom waterproofing solutions. Government initiatives in many countries promote the use of wetrooms in residential homes as they are seen as a way to save water and energy. Technological advancements in wetroom waterproofing solutions have made them more effective and affordable. There is also a growing awareness among homeowners of the importance of waterproofing their wetrooms due to the increasing number of cases of water damage and mold growth in residential homes.
The refurbishment is anticipated to be the fastest-growing Wetroom waterproofing solutions Market segment, by process, during the forecast period.
The "Refurbishment" uses segment is experiencing the fastest growing market share in the wetroom waterproofing market due to a combination of factors. Firstly, as existing buildings and structures age, there is a growing need to renovate and upgrade their features, including bathrooms. Wetrooms have gained popularity for their modern aesthetics and space-saving designs, making them a preferred choice during refurbishment projects. Additionally, many older buildings may not have initially incorporated advanced waterproofing technologies, leading to increased susceptibility to water damage over time. The "Refurbishment" segment addresses these issues by offering an opportunity to retrofit improved waterproofing systems, preventing leaks, mold growth, and other moisture-related problems. As the awareness of the importance of waterproofing grows, property owners and facility managers are increasingly investing in effective solutions during refurbishment to enhance both the structural integrity and visual appeal of their properties. The versatility of wetroom designs allows for creative adaptations in existing spaces, further driving the demand for waterproofing solutions within this segment.
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North America is expected to be the fastest-growing segment in the global Wetroom waterproofing solutions Market, by region, during the forecast period.
The North America region is emerging as the fastest-growing segment in the wetroom waterproofing market due to several factors driving its expansion. Firstly, there is a growing trend in North America towards modern and luxurious bathroom designs, including the adoption of wetrooms. The desire for spacious, stylish, and functional bathrooms has propelled the demand for wetroom installations. Moreover, increased disposable income levels and changing consumer preferences have led to a greater willingness to invest in home renovations and improvements, further boosting the adoption of wetrooms and the need for effective waterproofing solutions. Additionally, North America faces varying weather conditions and temperature fluctuations that necessitate robust moisture protection systems.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Wetroom waterproofing solutions Market. These Sika AG (Switzerland), BASF SE (Germany), MAPEI Corporation (Italy), Knauf Gypsum Pty Ltd (Australia), Henry Company (US) and others.
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