Waterproofing Chemicals Market:
Waterproofing Chemical is a synthetic chemical product that protect the structure from water penetration and percolation. Excess water penetration in buildings can shorten their life span and may cause an accidental damage to the structure, apart from electrical, metal and other structural hazards. It is generally applied to the exterior of a foundation system or mixed with a construction application. Application of waterproofing confer significant advantages to the building or a substrate such as lower maintenance cost of buildings, sustainable edifice and protection from extreme weather conditions.
The global Waterproofing Chemicals Market has been estimated to grow at CAGR of 9.86% to reach USD 32,915.00 million till 2023. Surging demand for waterproofing chemicals from rapidly increasing construction activities in developing countries and growing demand from roofing and walls application are primary factors driving growth of the market. However, the cost sensitive nature of the market due to the fluctuating crude oil prices and price conscious consumers is posing as a substantial bottleneck in the growth trajectory of the market, especially in emerging economies. Nevertheless, the landfill and water management sector is likely to be the great opportunity for further application of waterproofing chemicals in near future.
Regional Insight: The Global Waterproofing Chemicals market is spread across Five Regions: Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific held the largest share of the market in 2016, and is projected to grow at the highest CAGR of 10.88% during the forecast period. The dominance of Asia Pacific region is mainly due to the rising urbanization and swift industrialization of the emerging economies in this region. Asia Pacific region is followed by North America, which accounted for the second largest market share, as of 2016. It is estimated to reach USD 7,201.60 million by 2023. 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 user industries in the country.
Europe is another substantial region in the global waterproofing chemicals market. It accounted for a considerable market share of 17%, in 2016. Germany is the leading market in this region dominating the regional market on account of increasing demand from the roofing and basement application. Europe is followed by Middle East & Africa and Latin America which estimated to grow at significant rate during the review period.
Key Findings: The Global Waterproofing Chemicals Market is projected to reach USD 32,915.00 million by the end of 2023 at a CAGR of 9.86%. Asia Pacific is accounted for the largest share due to high penetration of major end use industries in the region. China is the largest market not only in Asia Pacific but also in the global market. Bitumen held over 52% of the market in 2016 owing to easy availability and relative low price. Roofing and walls together holding more over 50% share of the market and is expected to be the dominant end user for waterproofing chemicals market across all regional segments during forecast period.
Market Categorization: The global Waterproofing Chemicals Market is categorized on the basis of type, application, and region. On the basis of type, market is categorized into bitumen, PVC, TPO, EPDM, and others. On the basis of application, the market is divided into roofing, walls, flooring, basement, tunneling, and others. On the basis of region, the global waterproofing chemicals market is segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Key Global Players: The prominent players in the global waterproofing chemicals market are- BASF SE (Germany), DowDuPont (U.S.), Sika AG (Switzerland), Wacker Chemie AG (Germany), RPM International Inc. (U.S.), Pidilite Industries Ltd. (India), Mapei S.p.A (Italy), Carlisle Companies Inc. (U.S.), Fosroc (U.K), Drizoro S.A.U. (Spain), Conpro Chemicals (India), and Soprema Inc. (U.S.), among others.
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