Waterproofing is the process of making an object or structure waterproof or water-resistant so that it remains relatively unaffected by water or resisting the ingress of water under specified conditions. It involves various techniques and materials to prevent water from entering or damaging a building, structure, or any other surface. Waterproofing is essential to protect buildings and infrastructure from water-related damage, such as leaks, dampness, mold growth, and structural deterioration.

 Sharing a snapshot below.

The waterproofing market can be segmented into several key categories, each offering distinct solutions for different applications.

The four types of broad categories are:

• Coatings: They encompass products like bituminous coatings, elastomeric coatings, and cementitious coatings. These coatings provide a protective barrier against water intrusion and are versatile in their application.
• Latex: Latex-based waterproofing products have gained popularity due to their ease of application and flexibility, often used for interior waterproofing.
• Preformed membranes: They offer highly effective waterproofing solutions in the form of sheets or rolls, and are typically made of materials like asphalt, PVC, or EPDM.
• Integral waterproofing: It involves additives mixed with concrete or mortar to enhance the structure’s inherent water resistance.

The waterproofing market is segmented into four major product categories (coatings, latex, performed membrane & integral waterproofing). The product categories are further divided into product types. The above snapshot highlights the product types across these four major product segments.

The snapshot highlights the market split between the four product segments. Coatings account for the highest, approximately 40% of the entire market (~ INR 2,760 Cr). Latex-based waterproofing products make up approximately 23% (~ INR 1,587 Cr) of the TAM, while performed membranes represent around 22% of the market share. Integral waterproofing, achieved through additives mixed with concrete or mortar, contributes approximately 15% to the overall TAM. This breakdown highlights the significant presence of coatings, followed by latex, preformed membranes, and integral waterproofing in the Indian waterproofing industry.

The entire waterproofing market is projected to grow at ~15% CAGR and reach market size of ~ INR 14,000 Cr in FY27 from ~ INR 6,900 Cr. The factors driving growth for different product categories are:

1. Coatings: The coatings industry is experiencing a shift away from traditional decorative paints and latex solutions, with a growing preference for acrylic and cementitious coatings. This transition is driven by the demand for more durable and water-resistant options. Innovative solutions like polyurethane and polyurea coatings, known for their fast-setting times and exceptional water resistance, are gaining prominence in the market, further fuelling growth and diversification within the coatings segment.
2. Latex: Latex-based waterproofing products are experiencing high penetration into Tier 2 and beyond markets due to their simple chemistry, ease of application, and availability in retail channels. Their versatility in terms of uses and applications further contributes to their growth, as they find utility in a wide range of use cases. This versatility, coupled with their accessibility and user-friendly properties, is driving the expansion of latex-based waterproofing solutions across diverse markets.
3. Preformed membranes: The preformed membrane sector is witnessing rapid upgradation to high-end membranes, driven by their advanced technology, which ensures superior water retention capabilities. Moreover, these membranes are gaining higher penetration in Tier 2 and beyond markets due to their compatibility with common surfaces like wood and earth. This adaptability to various surfaces and continuous technical advancements are key factors contributing to the growing popularity of high-end preformed membranes, ensuring effective waterproofing solutions even in less urbanized areas.
4. Integral waterproofing: Integral waterproofing is seeing growth in the market as key players invest in building applicator networks to raise awareness of its benefits. This strategic approach is aimed at expanding the adoption of integral waterproofing solutions across construction projects. Additionally, with a projected increase in expenditure on real estate and infrastructure projects, estimated at around US$ 840 billion over the next 15 years, there is a growing demand for durable and effective waterproofing solutions, further fueling the prospects for integral waterproofing in the construction industry.