The waterproofing chemicals market is likely to witness rapid growth in the next few years. This is due to the swiftly rising demand for these chemicals from end- use industries such as commercial and residential construction and tunnels and landfills. Augmented awareness regarding the significance of waterproofing products among consumers in developing regions is also likely to boost the market during the forecast period.
Structures, that are cement-based, go through massive erosion and damping. This is owing to regular climatic changes resulting in the decrease of the shelf life of commercial and residential buildings. Various governmental initiatives in Germany, China, United Kingdom, India and France in support of land filling and clean groundwater have had a strong impact on the growth of the waterproofing chemicals market in the past few years.
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Waterproofing chemical composites have witnessed longer life and self-adhesion in the last few years. This has led the market to experience significant growth over the forecast period. Key participants in the waterproofing chemicals market have been focusing on the commercialization of biological routes for coming up with eco-friendly waterproofing chemicals.
The usage of waterproofing chemicals in the fabrics industry for the large scale production of breathable and waterproof fabrics is likely to offer new opportunities to the worldwide market in the next six years.
Market Segmentation
Applications
The largest application segment of the waterproofing chemicals market was roofing. Roofing is likely to dominate the market in the future. This is due to rising governmental investments for infrastructural development. With accelerated urbanization and amplified disposable incomes of the middle-class, the use of water proofing chemicals in construction sector is estimated to mount.
Consumers have been focusing on quality construction. The market is benefitting as a result of it. Subsoil waterproofing, bitumen bonding and expansion joints are some of the niche applications of the waterproofing chemicals market. The market is also anticipated to experience rapid growth on account of its increasing applications in water management.
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Products
Bitumen led the products segment of the waterproofing chemicals market in 2014. It captured more than 40% of the global volume. Due to the high viscosity and stickiness of bitumen, the demand for waterproofing chemicals is likely to increase in the years to come. Better demand for waterproofing polymers has also been noticed with the mounting need for thermoplastic polyolefins (TPOs).
TPO is utilized in energy efficient roofing systems. The development of refining capacity in the Middle East coupled with regulatory support for reducing reliance on the upstream oil & gas industry would ensure the availability of raw materials for the production of waterproofing chemicals during the forecast period.
Regions
The leading regional waterproofing chemicals market was Asia Pacific. This was due to high expansion in the construction sector in the last few years. With economic boost and rapid industrialization in Asia Pacific, the global market is likely to experience huge demand during the forecast period.
Europe and North America are moderately developed. They are characterized by growing preference for bio-based chemicals and new product developments. Asia Pacific is expected to witness extensive waterproofing chemicals market growth. This is due to increasing infrastructure and growing disposable incomes of the average customer in the region.
Market Participants
The major participants of the waterproofing chemicals market are Dow Chemical Company, Evonik Industries, Choksey Chemicals Pvt Ltd, Mitsubishi Chemical Holdings Company, Kumho Petrochemicals, ExxonMobil Chemicals, BASF, Trinseo Europe GmBH, Polygel Industries and Pidlite Industries Ltd.
Pidlite Industries Ltd launched low energy consumption (LEC) in 2012. LEC refers to insulation and waterproofing systems for buildings providing bio-friendly solutions. In 2010, ExxonMobil chemicals introduced waterproofing chemicals for high performance film applications such as Vistamaxx 3980L, Vistamaxx 6202FL, Vistamaxx3020FL and Vistamaxx6102FL.
Estop Group also launched a new product, Estoflex. This product has unstructured polymers. The polymers are utilized for lagging wire cables on waterproofing composites.
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