Overview:
Market Research Future (MRFR) made an extensive study on the global Waterproofing Chemicals Market in the latest report where they claimed that the market can achieve 9.86% CAGR during the forecast period (2023-2030). The waterproofing chemicals market could also surpass USD 32,915.00 Million mark by the end of 2030. Waterproofing chemicals are a type of synthetic material that are used to protect any seepage or leakage in constructions due to heavy rain or moisture. Mostly, three types of waterproofing chemicals are in use; in paints, plastic waterproofing materials are used and they contain epoxide, polyester, polyvinyl, and ethanol lacquers, plasters count polymer mortars, concretes, and faizol as significant ingredients, and glued segment includes polyethylene, polyvinyl chloride tapes, and Oppanol.
The industry is enjoying huge traction from the construction sector where waterproofing chemicals are mostly used to protect buildings from any water seepage. Surge in urbanization is squarely impacting the construction sector and the intake of the waterproofing chemicals. But the cost-sensitive materials can deter the expected market growth and bottleneck the expected growth of the waterproofing chemicals market in the coming years.
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Segmentation:
MRFR, in the report of the global waterproofing chemicals market, specifically focused on the segments for a better analysis of the market. It segmented the said market by type and application.
Based on the type, the global waterproofing chemicals market can be segmented into bitumen, PVC, TPO, and EPDM, among others. Among others, polyurethane, silicone, polyethylene, and acrylic polymer have significant market scope. Bitumen’s market share is the maximum and the estimated valuation would become around USD 17192.83 million by 2023. Its easy availability and lower price play in its favor. However, TPO segments recyclability and low environmental impact can provide it substantial future traction.
On the basis of applications, the global waterproofing chemicals market can be segmented into roofing, walls, flooring, basement, tunneling, and others. The roofing and walls together control well over 50% share of the market due to the necessity of protecting roof and wall from rain. The roofing segment in coming years can expect a growth by 11.35% CAGR and would surpass USD 12640.80 million by the end of the review period.
Regional Analysis:
MRFR’s analysis of the global waterproofing chemicals market spans across Asia Pacific (APAC), Europe, North America, Latin America, and the Middle East Africa (MEA).
The report offers much insight into the regional development which suggests that the APAC market is slotted to dominate the global market over the review period. In 2016, the APAC region had the maximum market coverage and it is only expecting a growth by 10.88% CAGR during the forecast period. The region is set to experience benefits from vastly populated countries such as China and India, where the countryside buildings are expected to fetch in considerable amount through renovations. China is, both volume-wise and value-wise, the global leader.
The next in line is North America where the Waterproofing Chemicals Market Revenue Growth is gaining considerable edge and contribute substantially in the global market. Reconstruction activities are boosting the regional market and its market value could surpass the estimated USD7,201.60 million by the end of 2023.
Europe’s market dominance is quite substantial as it holds sway over almost 17% of the global market share as of 2016.
Competitive Landscape:
Companies listed in the MRFR report on the waterproofing chemicals market are Conpro Chemicals Pvt. Ltd (India), Soprema Inc. (The U.S.), BASF SE (Germany), DowDuPont (The U.S.), Wacker Chemie AG (Germany), Sika AG (Switzerland), RPM International Inc. (The U.S.), Pidilite Industries Ltd. (India), Carlisle Companies Inc. (The U.S.), Fosroc (U.K), Drizoro S.A.U. (Spain), Mapei S.p.A (Italy), and others.
In 2018, BASF launched a new MasterSeal 7000 CR system that can provide protection against harsh wastewater environment. The product follows the new technology Xolutec introduced by BASF itself.
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