Latin America Waterproofing Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)
Description
The Latin America waterproofing market stood at a value of USD 2.53 Billion in 2024 . The market is further expected to grow at a CAGR of 5.30% in the forecast period of 2025-2034, to reach a value of USD 4.24 Billion in 2034 .
Latin America Waterproofing Market Trends
The growth of the Latin America waterproofing market is expected to grow during the forecasted period of 2025-2034. The market in Latin America is largely driven by the rising demand in the rapidly growing construction industry in the region.
Due to their higher efficiency and lower cost along with product innovations, liquid membranes are one of the leading waterproofing types. Roofs are the major application sector since they are particularly in danger of water and chemical damage and are also susceptible to climate change.
Latin America Waterproofing Market Growth
The demand of waterproofing market in Latin America is globally being driven by a growing demand from the infrastructure and construction industry. The rising demand in end-use sectors like waste and water management and mining industry are providing further impetus to the industry.
Recent Developments
As per the Latin America waterproofing market dynamics and trends, Shalimar Paints Ltd. announced the launch of Zero Damp Advance and Zero Damp Smart, two new products in the Home Protect Waterproofing range, in July 2024. These products offer superior protection against seepage as well as a warranty of 12 years.
Key Trends and Developments
Rising demand for multifunctional waterproofing; growing concerns regarding rapid climate change; development of smart waterproofing solutions; and surging preference for green waterproofing solutions are favouring the Latin America waterproofing market expansion.
August 2024
Saint-Gobain entered into a definitive agreement to acquire Mexico-based Ovniver Group for USD 815 million. Ovniver Group offers various innovative solutions such as waterproofing systems, façade coatings, tile adhesives, and surface preparation mortars for the non-residential and residential markets. Through the acquisition, the company aims to strengthen its position in the construction chemical industry.
January 2024
Penetron Brazil provided concrete waterproofing products in the construction of the Center for Advanced Serum Production by the Butantan Institute in Sâo Paulo, Brazil. Penetron Brazil collaborated with Supermix Concretos to provide an optimal concrete waterproofing solution, reduce long-term drying shrinkage cracking, and enhance the impermeability of the treated concrete.
August 2023
Sika entered into an agreement to acquire Peru-based Chema to expand its manufacturing footprint and strengthen its position in the rapidly growing mortar sector. The acquisition is also aimed at providing cross-selling opportunities to Sika for complementary products such as waterproofing solutions, sealants, adhesives, and liquid applied membranes.
June 2021
Sencorp-SURA office building in the Nueva Las Condes district of Santiago, Chile, selected PENETRON ADMIX to ensure durable and flawless waterproofing solution for the building’s below-grade concrete structures.
Rising demand for multifunctional waterproofing
Amid the growing demand for efficiency and versatility, key players are offering multifunctional waterproofing solutions that can provide superior water resistance while providing benefits such as soundproofing, thermal insulation, and fire resistance to enhance building performance, streamline construction processes, and lower material costs.
Increasing concerns regarding rapid climate change
Latin America is susceptible to the impacts of rapid climate change, including extreme rainfall, glacier melting, floods, and prolonged monsoon, causing water-related damage to buildings such as mould growth, dampness, and structural damage. This is surging the need for high-quality, resilient, and durable waterproofing solutions.
The development of smart waterproofing solutions
The development of smart waterproofing solutions equipped with the Internet of things (IoT) and sensors that can assess moisture levels, detect leaks, and facilitate predictive maintenance is driving the Latin America waterproofing market growth. Such solutions, by leveraging automation and data analytics, can optimise waterproofing performance, minimise costly repairs, and extend the durability of buildings, hence fuelling the market.
Growing preference for green waterproofing solutions
With the rising emphasis on sustainability, there is an increasing preference for green waterproofing solutions that incorporate drainage layers, specialised membranes, and vegetation components to create resilient and sustainable rooftop ecosystems. Moreover, the development of waterproofing systems from non-toxic, low VOC, and durable materials is anticipated to aid the market in the coming years.
Industry Outlook
As per the Latin America waterproofing industry analysis, the growth of the residential sector in countries such as Mexico, Argentina, and Brazil are contributing to the demand for waterproofing to safeguard the buildings from damage and provide extended life span. According to National Institute of Statistics and Geography (INEGI), In April 2024, the residential construction figure in Mexico stood at 139,951 units. In May 2024, it slightly increased to 140,129 units. In June 2024, there was a further minor increase, reaching 140,878 units.
Additionally, as per National Institute of Statistics and Geography (INEGI), in May 2022, there was a decrease of 0.99% in the total construction value in Mexico. June 2022 saw a further decline of 0.89%. In July 2022, the market expanded to 1.97%, which contributed to the growth of the Latin America waterproofing industry. However, in August 2022 a negative growth was seen with 1.13. There was an uptick in September 2022, October 2022 and November 2022 with 1.57%, 0.47% and 3.53% increases respectively. December 2022 showed a minor decrease of 0.01%. The trend reversed in January 2023, with a modest rise of 0.87%. In February 2022, the value dipped again by 1.15%. March 2023 followed with an increase of 1.82%. In April 2023, there was a 2.29% increase. A significant surge occurred in May 2023, where the construction value jumped by 7.82%.
Brazil experienced modest economic growth in 2019 at 1.2% which aided the Latin America waterproofing industry revenue. However, in 2020, the economy contracted significantly by -3.3% due to the impact of the COVID-19 pandemic. The subsequent years showed a robust recovery, with a sharp increase in 2021 at 4.8%, followed by a solid growth of 3.0% in 2022 and a slight decrease to 2.9% in 2023. The GDP in dollar terms fell sharply from USD 1,873 billion in 2019 to USD 1,477 billion in 2020. It rebounded to USD 1,670 billion in 2021, increased further to USD 1,952 billion in 2022, and peaked at USD 2,173 billion in 2023. The nominal GDP growth in Brazil was at 5.5% in 2019, dropping to 3.0% in 2020, which affected the Latin America waterproofing demand. It saw a substantial spike to 18.4% in 2021, possibly influenced by inflationary pressures or currency valuation changes, before settling to 11.8% in 2022 and then slowing down to 7.7% in 2023.
Latin America Waterproofing Industry Segmentations
Waterproofing forms an impenetrable barrier against water that prevents buildings and other infrastructure from water damage like leakages and seepage. It prevents integral parts of the infrastructure like the foundation, walls, and roofs, among others from not just damage from water but also corrosion and chemical damage. Thus, it helps maintain the structural integrity of the buildings and prolongs their lives.
The various types of waterproofing available in the Latin America waterproofing industry are: Cementitious Membrane Bituminous Membrane Thermoplastic Membrane (PVC, Others) Latin America waterproofing market primarily finds its application in the following sectors:
Key Latin America waterproofing market players are diversifying their product portfolio to include liquid-applied membranes and self-healing materials. Waterproofing companies in Latin America are also focusing on developing resilient and high-performance waterproofing solutions to protect infrastructure and buildings from severe weather conditions.
Mapei S.p.A.
Mapei S.p.A., headquartered in Milan, Italy, and founded in 1937, is a leading manufacturer of chemical products for the construction sector. Boasting 96 subsidiaries across 56 countries as well as 12,500 employees, the company generated consolidated revenue amounting to EUR 4.2 billion in 2023. Nearly 29,100 tonnes of the company’s products are shipped per day.
Soprema Inc.
Soprema Inc., founded in 1908 and headquartered in Strasbourg, France, is a company that specialises in the production of innovative products for insulation, waterproofing, soundproofing, and building vegetated solutions. The company offers high-performance and high-technology solutions to respond to specific challenges in the construction sector. It operates in 90 countries and boasts 60 factories and 22 training centres.
Fosroc, Inc.
Fosroc, Inc., headquartered in Dubai, UAE, and established in 1972, is a global manufacturer of high-performance chemicals for the construction sector. The company’s innovative products address construction challenges and improve the strength and durability, structural integrity, and aesthetics of buildings.
Carlisle Coatings & Waterproofing
Carlisle Coatings & Waterproofing, headquartered in Texas, United States, is a company that provides reliable weather barrier and waterproofing solutions to suit different building sites. It is a division of Carlisle Construction Materials, a wholly owned subsidiary of Carlisle Companies.
Other leading companies in the Latin America waterproofing market include Danosa, Sika AG, MBCC Group, Saint-Gobain, and RPM International Inc., among others.
Latin America Waterproofing Market Regional Analysis
The Latin American region is led by countries like Brazil, Colombia, Venezuela, and Argentina due to the rising urbanisation and increasing disposable income among the middle class. The Latin America waterproofing market revenue in these countries is increased by the growing government expenditures on infrastructure ventures. Brazil, in particular, is an important region and leads in the demand for waterproofing membranes. With the waterproofing products subject to various innovations in the region, the Brazilian market is expected to continue growing in the forecast period of 2025-2034.
Latin America Waterproofing Market Trends
The growth of the Latin America waterproofing market is expected to grow during the forecasted period of 2025-2034. The market in Latin America is largely driven by the rising demand in the rapidly growing construction industry in the region.
Due to their higher efficiency and lower cost along with product innovations, liquid membranes are one of the leading waterproofing types. Roofs are the major application sector since they are particularly in danger of water and chemical damage and are also susceptible to climate change.
Latin America Waterproofing Market Growth
The demand of waterproofing market in Latin America is globally being driven by a growing demand from the infrastructure and construction industry. The rising demand in end-use sectors like waste and water management and mining industry are providing further impetus to the industry.
Recent Developments
As per the Latin America waterproofing market dynamics and trends, Shalimar Paints Ltd. announced the launch of Zero Damp Advance and Zero Damp Smart, two new products in the Home Protect Waterproofing range, in July 2024. These products offer superior protection against seepage as well as a warranty of 12 years.
Key Trends and Developments
Rising demand for multifunctional waterproofing; growing concerns regarding rapid climate change; development of smart waterproofing solutions; and surging preference for green waterproofing solutions are favouring the Latin America waterproofing market expansion.
August 2024
Saint-Gobain entered into a definitive agreement to acquire Mexico-based Ovniver Group for USD 815 million. Ovniver Group offers various innovative solutions such as waterproofing systems, façade coatings, tile adhesives, and surface preparation mortars for the non-residential and residential markets. Through the acquisition, the company aims to strengthen its position in the construction chemical industry.
January 2024
Penetron Brazil provided concrete waterproofing products in the construction of the Center for Advanced Serum Production by the Butantan Institute in Sâo Paulo, Brazil. Penetron Brazil collaborated with Supermix Concretos to provide an optimal concrete waterproofing solution, reduce long-term drying shrinkage cracking, and enhance the impermeability of the treated concrete.
August 2023
Sika entered into an agreement to acquire Peru-based Chema to expand its manufacturing footprint and strengthen its position in the rapidly growing mortar sector. The acquisition is also aimed at providing cross-selling opportunities to Sika for complementary products such as waterproofing solutions, sealants, adhesives, and liquid applied membranes.
June 2021
Sencorp-SURA office building in the Nueva Las Condes district of Santiago, Chile, selected PENETRON ADMIX to ensure durable and flawless waterproofing solution for the building’s below-grade concrete structures.
Rising demand for multifunctional waterproofing
Amid the growing demand for efficiency and versatility, key players are offering multifunctional waterproofing solutions that can provide superior water resistance while providing benefits such as soundproofing, thermal insulation, and fire resistance to enhance building performance, streamline construction processes, and lower material costs.
Increasing concerns regarding rapid climate change
Latin America is susceptible to the impacts of rapid climate change, including extreme rainfall, glacier melting, floods, and prolonged monsoon, causing water-related damage to buildings such as mould growth, dampness, and structural damage. This is surging the need for high-quality, resilient, and durable waterproofing solutions.
The development of smart waterproofing solutions
The development of smart waterproofing solutions equipped with the Internet of things (IoT) and sensors that can assess moisture levels, detect leaks, and facilitate predictive maintenance is driving the Latin America waterproofing market growth. Such solutions, by leveraging automation and data analytics, can optimise waterproofing performance, minimise costly repairs, and extend the durability of buildings, hence fuelling the market.
Growing preference for green waterproofing solutions
With the rising emphasis on sustainability, there is an increasing preference for green waterproofing solutions that incorporate drainage layers, specialised membranes, and vegetation components to create resilient and sustainable rooftop ecosystems. Moreover, the development of waterproofing systems from non-toxic, low VOC, and durable materials is anticipated to aid the market in the coming years.
Industry Outlook
As per the Latin America waterproofing industry analysis, the growth of the residential sector in countries such as Mexico, Argentina, and Brazil are contributing to the demand for waterproofing to safeguard the buildings from damage and provide extended life span. According to National Institute of Statistics and Geography (INEGI), In April 2024, the residential construction figure in Mexico stood at 139,951 units. In May 2024, it slightly increased to 140,129 units. In June 2024, there was a further minor increase, reaching 140,878 units.
Additionally, as per National Institute of Statistics and Geography (INEGI), in May 2022, there was a decrease of 0.99% in the total construction value in Mexico. June 2022 saw a further decline of 0.89%. In July 2022, the market expanded to 1.97%, which contributed to the growth of the Latin America waterproofing industry. However, in August 2022 a negative growth was seen with 1.13. There was an uptick in September 2022, October 2022 and November 2022 with 1.57%, 0.47% and 3.53% increases respectively. December 2022 showed a minor decrease of 0.01%. The trend reversed in January 2023, with a modest rise of 0.87%. In February 2022, the value dipped again by 1.15%. March 2023 followed with an increase of 1.82%. In April 2023, there was a 2.29% increase. A significant surge occurred in May 2023, where the construction value jumped by 7.82%.
Brazil experienced modest economic growth in 2019 at 1.2% which aided the Latin America waterproofing industry revenue. However, in 2020, the economy contracted significantly by -3.3% due to the impact of the COVID-19 pandemic. The subsequent years showed a robust recovery, with a sharp increase in 2021 at 4.8%, followed by a solid growth of 3.0% in 2022 and a slight decrease to 2.9% in 2023. The GDP in dollar terms fell sharply from USD 1,873 billion in 2019 to USD 1,477 billion in 2020. It rebounded to USD 1,670 billion in 2021, increased further to USD 1,952 billion in 2022, and peaked at USD 2,173 billion in 2023. The nominal GDP growth in Brazil was at 5.5% in 2019, dropping to 3.0% in 2020, which affected the Latin America waterproofing demand. It saw a substantial spike to 18.4% in 2021, possibly influenced by inflationary pressures or currency valuation changes, before settling to 11.8% in 2022 and then slowing down to 7.7% in 2023.
Latin America Waterproofing Industry Segmentations
Waterproofing forms an impenetrable barrier against water that prevents buildings and other infrastructure from water damage like leakages and seepage. It prevents integral parts of the infrastructure like the foundation, walls, and roofs, among others from not just damage from water but also corrosion and chemical damage. Thus, it helps maintain the structural integrity of the buildings and prolongs their lives.
The various types of waterproofing available in the Latin America waterproofing industry are:
- Liquid Membrane
- Bituminous Coating
- Polyurethane Membrane
- Epoxy
- Acrylic
- Roofing and Walls
- Tunnels/Pipelines
- Bridges and Highways
- Basements and Underground Parking
- Drainage
- Others
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Bolivia
- Uruguay
- Paraguay
- Panama
- Others
Key Latin America waterproofing market players are diversifying their product portfolio to include liquid-applied membranes and self-healing materials. Waterproofing companies in Latin America are also focusing on developing resilient and high-performance waterproofing solutions to protect infrastructure and buildings from severe weather conditions.
Mapei S.p.A.
Mapei S.p.A., headquartered in Milan, Italy, and founded in 1937, is a leading manufacturer of chemical products for the construction sector. Boasting 96 subsidiaries across 56 countries as well as 12,500 employees, the company generated consolidated revenue amounting to EUR 4.2 billion in 2023. Nearly 29,100 tonnes of the company’s products are shipped per day.
Soprema Inc.
Soprema Inc., founded in 1908 and headquartered in Strasbourg, France, is a company that specialises in the production of innovative products for insulation, waterproofing, soundproofing, and building vegetated solutions. The company offers high-performance and high-technology solutions to respond to specific challenges in the construction sector. It operates in 90 countries and boasts 60 factories and 22 training centres.
Fosroc, Inc.
Fosroc, Inc., headquartered in Dubai, UAE, and established in 1972, is a global manufacturer of high-performance chemicals for the construction sector. The company’s innovative products address construction challenges and improve the strength and durability, structural integrity, and aesthetics of buildings.
Carlisle Coatings & Waterproofing
Carlisle Coatings & Waterproofing, headquartered in Texas, United States, is a company that provides reliable weather barrier and waterproofing solutions to suit different building sites. It is a division of Carlisle Construction Materials, a wholly owned subsidiary of Carlisle Companies.
Other leading companies in the Latin America waterproofing market include Danosa, Sika AG, MBCC Group, Saint-Gobain, and RPM International Inc., among others.
Latin America Waterproofing Market Regional Analysis
The Latin American region is led by countries like Brazil, Colombia, Venezuela, and Argentina due to the rising urbanisation and increasing disposable income among the middle class. The Latin America waterproofing market revenue in these countries is increased by the growing government expenditures on infrastructure ventures. Brazil, in particular, is an important region and leads in the demand for waterproofing membranes. With the waterproofing products subject to various innovations in the region, the Brazilian market is expected to continue growing in the forecast period of 2025-2034.
Table of Contents
134 Pages
- 1 Preface
- 2 Report Coverage – Key Segmentation and Scope
- 3 Report Description
- 3.1 Market Definition and Outlook
- 3.2 Properties and Applications
- 3.3 Market Analysis
- 3.4 Key Players
- 4 Key Assumptions
- 5 Executive Summary
- 5.1 Overview
- 5.2 Key Drivers
- 5.3 Key Developments
- 5.4 Competitive Structure
- 5.5 Key Industrial Trends
- 6 Market Snapshot
- 7 Opportunities and Challenges in the Market
- 8 Latin America Waterproofing Market Analysis
- 8.1 Key Industry Highlights
- 8.2 Latin America Waterproofing Historical Market (2018-2024)
- 8.3 Latin America Waterproofing Market Forecast (2025-2034)
- 8.4 Latin America Waterproofing Market by Type
- 8.4.1 Liquid Membrane
- 8.4.1.1 Historical Trend (2018-2024)
- 8.4.1.2 Forecast Trend (2025-2034)
- 8.4.1.2.1 Breakup by Type
- 8.4.1.2.2 Bituminous Coating
- 8.4.1.2.3 Polyurethane Membrane
- 8.4.1.2.4 Epoxy
- 8.4.1.2.5 Acrylic
- 8.4.2 Cementitious Membrane
- 8.4.2.1 Historical Trend (2018-2024)
- 8.4.2.2 Forecast Trend (2025-2034)
- 8.4.3 Bituminous Membrane
- 8.4.3.1 Historical Trend (2018-2024)
- 8.4.3.2 Forecast Trend (2025-2034)
- 8.4.4 Thermoplastic Membrane
- 8.4.4.1 Historical Trend (2018-2024)
- 8.4.4.2 Forecast Trend (2025-2034)
- 8.4.5 Others
- 8.5 Latin America Waterproofing Market by Application
- 8.5.1 Roofing and Walls
- 8.5.1.1 Historical Trend (2018-2024)
- 8.5.1.2 Forecast Trend (2025-2034)
- 8.5.2 Tunnels/Pipelines
- 8.5.2.1 Historical Trend (2018-2024)
- 8.5.2.2 Forecast Trend (2025-2034)
- 8.5.3 Bridges and Highways
- 8.5.3.1 Historical Trend (2018-2024)
- 8.5.3.2 Forecast Trend (2025-2034)
- 8.5.4 Basements and Underground Parking
- 8.5.4.1 Historical Trend (2018-2024)
- 8.5.4.2 Forecast Trend (2025-2034)
- 8.5.5 Drainage
- 8.5.5.1 Historical Trend (2018-2024)
- 8.5.5.2 Forecast Trend (2025-2034)
- 8.5.6 Others
- 8.6 Latin America Waterproofing Market by Country
- 8.6.1 Brazil
- 8.6.2 Mexico
- 8.6.3 Argentina
- 8.6.4 Colombia
- 8.6.5 Chile
- 8.6.6 Peru
- 8.6.7 Bolivia
- 8.6.8 Uruguay
- 8.6.9 Paraguay
- 8.6.10 Guatemala
- 8.6.11 Panama
- 8.6.12 Others
- 9 Regional Analysis
- 9.1 Brazil
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Mexico
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Argentina
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Colombia
- 9.4.1 Historical Trend (2018-2024)
- 9.4.2 Forecast Trend (2025-2034)
- 9.5 Chile
- 9.5.1 Historical Trend (2018-2024)
- 9.5.2 Forecast Trend (2025-2034)
- 9.6 Peru
- 9.6.1 Historical Trend (2018-2024)
- 9.6.2 Forecast Trend (2025-2034)
- 9.7 Bolivia
- 9.7.1 Historical Trend (2018-2024)
- 9.7.2 Forecast Trend (2025-2034)
- 9.8 Uruguay
- 9.8.1 Historical Trend (2018-2024)
- 9.8.2 Forecast Trend (2025-2034)
- 9.9 Paraguay
- 9.9.1 Historical Trend (2018-2024)
- 9.9.2 Forecast Trend (2025-2034)
- 9.10 Guatemala
- 9.10.1 Historical Trend (2018-2024)
- 9.10.2 Forecast Trend (2025-2034)
- 9.11 Panama
- 9.11.1 Historical Trend (2018-2024)
- 9.11.2 Forecast Trend (2025-2034)
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyer’s Power
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 11 Installation Cost
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 Mapei S.p.A.
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Soprema Inc.
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Danosa
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Sika AG
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Saint-Gobain
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Fosroc, Inc.
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Carlisle Coatings & Waterproofing
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 MBCC Group
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 RPM International Inc.
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 Others
Pricing
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