Waterproofing chemicals are referred to as a group of specific synthetic or natural chemical products. Their primary use is to protect the structure from the damage caused by moisture or water. The penetration or percolation of water or moisture can cause severe physical damage to the structure. It can also shorten the life and reduce the durability of the building, which is most likely to cause accidental damage to the edifice. Waterproofing chemicals prevent damage to the electrical, metal, and other integral parts of the building. These chemicals help the structure to retain its integrity and longevity. The product confers numerous beneficial properties, for instance, increasing the life of concrete, wood and decorative paint and coatings. Economically the waterproofing chemicals help to reduce the maintenance cost of the building and offer more efficient and sustainable solution to the problem of leakage.
The global waterproofing chemicals market is projected to expand at a robust CAGR of 9.86% and is estimated to reach USD 32,915.00 million by the end of 2023.
The major factors responsible for healthy growth trajectory of the market are, rapidly increasing demand for the waterproofing chemicals from steadily growing construction activities (especially in developing countries), growing demand from roofing and walls application, the cost-efficiency of the product in longer run and expanding scope of applications in the emerging applications such as landfill and water resource management. However, the sole factor likely to hamper the growth of the market during the forecast period is a cost sensitive nature of the market, mainly due to the volatility in the prices of crude oil and price-conscious consumers, especially in emerging economies. Nevertheless, there is a great opportunity for emerging applications such as the landfill and water management sectors. This is anticipated to further boost the growth of the global waterproofing chemicals in the near future.
- Based on the geo-economic scenario, the global waterproofing chemicals market is spanned across the five major regions, namely Asia Pacific, North America, Europe, the Middle East & Africa and Latin America.
- Among these regions, Asia Pacific accounted for the major share of the market, as of 2016. This region is growing at the highest CAGR of 10.88%, among other regions, during the period under consideration. The primary factor favoring the dominance of Asia Pacific is the rapid urbanization and industrialization occurring in the emerging economies in this region such as India, China, South Korea, and Malaysia.
- Following the Asia Pacific, North America held the second largest share of the market, in 2016. This region is projected to be pegged at USD 7,201.60 million by the end of 2023. In this region, the U.S held the largest share of the market in North America and expected to remain dominant throughout the forecast period owing to greater penetration of end-use industries in the country.
- Europe is another significant region in the global waterproofing chemicals market. This region registered to account for a sizeable 17% share of the market, in 2016. In Europe, Germany is the largest contributor to the regional market owing to the increasing demand from the roofing and basement applications. The Latin America and the Middle East & Africa is estimated to grow at a healthy rate during the review period.
- The global waterproofing chemicals market is segregated on the basis of type, application, and region. On the basis of type, the market is categorized into bitumen, PVC, TPO, EPDM, and others.
- By application, the market is divided into roofing, walls, flooring, basement, tunneling, and others.
- Geographically, the global waterproofing chemicals market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America.
- The global waterproofing chemicals market is projected to reach USD 32,915.00 million by 2023 at a CAGR of 9.86%.
- The Asia Pacific is accounted for the largest share due to the high penetration of major end-use industries in the region.
- China is the largest market not only in the Asia Pacific but also in the global market.
- Bitumen held over 52% of the market in 2016 owing to its easy availability and relatively low price.
- Roofing and walls together hold more over 50% share of the market and are expected to be the dominant end-user for waterproofing chemicals market across all regional segments during the forecast period.
The global waterproofing chemicals market has been estimating to grow at a CAGR of 9.86% during the forecast period 2017-2023.
Geographically, Asia Pacific is dominating the market due to the growth of major end use industries such as building & construction, in the region. Among application segments, roofing is dominant in the global waterproofing chemicals market, during the forecast period.
The report covers brief analysis of geographical region includes China, India, Japan, Germany, France, UK, Russia, Italy, France, US, Canada, U.A.E., Saudi Arabia, Brazil, Argentina, Mexico
Category: Chemical Market Research Reports
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