Increased consumer awareness, R&D initiatives, and strong channel relations are key to growth, finds Frost & Sullivan’s Visionary Science team

Mumbai, Maharashtra, India
The waterproofing solutions market in India is witnessing a period of robust double-digit growth. The Government of India’s mandate to expand the nation’s infrastructure, a thriving construction industry, growing awareness of modern building methods and quality mandates are factors driving the adoption and use. Of the total waterproofing solutions for infrastructure projects, 46% use bituminous solutions with atactic polypropylene (APP) and styrene butadiene styrene (SBS) membrane solutions, together holding 71% market share.

Frost & Sullivan’s “Indian Bituminous Waterproofing Membranes Market, 2017” finds that APP waterproofing membranes hold the largest segment with 54% of the market in 2015, while SBS waterproofing membranes are the fastest-growing segment with a compound annual growth rate of 22% through 2020. The analysis provides a strategic overview of the waterproofing membrane market in India with a specific focus on bituminous waterproofing. The study throws light on the current and expected market developments, drivers, restraints, and revenue forecasts across major end-user types and sub-types.

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“Apply and supply models and mechanization of waterproofing installations are expected to bring about stronger warranties in the waterproofing space,” noted Govind Ramakrishnan, Consultant, Visionary Science (Chemicals, Materials & Foods) Practice, Frost & Sullivan. “Companies will shift from being material suppliers to one-stop waterproofing service providers and look to monetize application services as a critical revenue stream.”

Strategic imperatives for growth in the bituminous waterproofing membrane market include:
Focusing on APP and SBS membranes to provide greater revenue opportunities and higher margins;
Targeting the infrastructure space for premium long-term projects;
Providing application support services to key clients to differentiate product offerings;
Focusing on research and development for superior products and to combat the threat of substitutes;
Earmarking the industrial and home and building spaces for medium-term targets and quick wins;
Building strong relationships with channel partners and influencers in the value chain;
Increasing awareness of products and educating consumers on the benefits of waterproofing; and
Lobbying for regulations mandating waterproofing solutions across the key target bases.
“The current penetration of preventive waterproofing is less than 20% of the total potential. While this indicates immense growth opportunities, the market is characterized by a lack of end-user awareness about the need and benefits of preventive waterproofing,” noted Ramakrishnan. “Even where there is some awareness, there is a preference for cheaper conventional methods that do not provide adequate protection.”

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