Cleveland OH, June 20, 2023 – According to a new study by The Freedonia Group, US Air & Water Barriers
, demand for waterproofing products is projected to decrease by an annual average rate of 1.3% to $4.5 billion in 2027, with volume demand totaling 12.6 billion square feet. Declines will primarily be the result of a significant moderation in pricing from a high inflation-related 2022 base. Volume demand for waterproofing products overall is forecast to increase through most of the forecast period due to rebounds in the commercial market and a return to growth in housing starts.
Demand for waterproof membranes is forecast to decrease from a high inflation-related 2022 base at an annual average rate of 1.6% to $2.9 billion in 2027. However, it will grow in volume terms as commercial building construction rebounds over the forecast period, as waterproofing membrane products make up more than 25% of demand share for commercial applications.
Waterproofing products include membranes and coatings used to prevent the penetration of water through the roof decks, building envelopes, foundations and basements, as well as infrastructure; most commonly for below-ground applications.
The overall demand for air and water barriers in the US is forecast to decline at an annual average rate of 1.5% to $8.6 billion in 2027, the result of prices for these products moderating significantly from their 2022 peak. Real demand in the near term will be restrained by the significant levels of air and water barrier demand in 2020 and 2021, which were elevated due to high levels of new housing construction, a surge in home renovations, and severe weather events in parts of the US during those years. However, growth in real terms and in market value will resume later in the 2022-2027 period.
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