Waterproofing Chemicals Market 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 (2018-2023). The waterproofing chemicals market could also surpass USD 32,915 million mark by the end of 2023.
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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.
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.
The value and cost effectiveness offered by waterproofing chemicals in various sectors have led to a superlative level of development and growth of the industry. Market Research Future which focuses on market reports associated to the chemicals and materials industry amongst others lately published a report on this industry. The market for waterproofing chemicals internationally has been appraised to develop at a CAGR rate of 9.86 per cent to reach USD 32,915.00 million till the year 2023.
Waterproofing chemicals are essential to preserve the quality and value of many products from building structures to textiles, as they provide an extra barrier of protection from damage by the elements. The applications related to the roofing and walls use have increased the growth potential of the market in terms of revenue as well as the CAGR rates. The durability of the product has been a key factor in the demand generated by the sector.
Industry Segments:
The division of the waterproofing chemicals market globally is on the category of application, type and region.
The application basis of the market comprises of categories of roofing, tunneling, flooring, walls, basement and others. The type category segments the market into TPO, bitumen, PVC, EPDM and others. The geographical segmentation basis of the market is into Europe, North America, Asia Pacific, the Middle East & Africa and Latin America.
Detailed Regional Analysis:
The waterproofing chemicals segment on the basis of geography consists of five key regions Latin America, Asia Pacific, North America, Europe, and the Middle East & African regions. Among these regions, the Asia Pacific region holds the biggest portion of the segment in 2016, and is anticipated to develop at a CAGR of 10.88% approx in the forecast period. The authority of the APAC region is primarily due to the increasing urbanization and rapid industrialization of the developing economies of this region. North America follows the Asia Pacific region which has accounted for the second major market share, in the year 2016. This market is projected to reach USD 7,202 million by the year 2023. In the North America region, The U.S held the prime share of the industry and is expected to maintain its dominant position throughout the forecast period due to better infiltration of end user businesses in the country.
The European market segment is another considerable region in this particular market. It is responsible for a substantial market share of 17%, as of the year 2016. In the European region, Germany is considered the foremost market in this region controlling the regional market because of growing demand from the basement and roofing applications. Middle East, Africa and Latin America follow the European region which is set to demonstrate a significant market growth rate in the forecast period.
Global Competitive Analysis:
The pace of development in the market is set to influence substantial transformation owing to the swift growth pace. The growth can however be achieved and sustained only by adapting and testing plus points. The rivals in the industry are trying to grow their market portion to a huge extent by the efficacious use of their major resources. This outlook has been instrumental for the development of the sector which has set the path for volume driven expansion. The sector’s future growth can be ensured by continuous ongoing process enhancements and maintaining financial fluidity to invest in the top strategies when they become available.
The significant players in the market are DowDuPont (The U.S.), Sika AG (Switzerland), Wacker Chemie AG (Germany), Pidilite Industries Ltd. (India), BASF SE (Germany), RPM International Inc. (The U.S.), Mapei S.p.A (Italy).
Industry Updates:
Jan 2018 AkzoNobel India Ltd which is a Dutch paints and chemicals firm will concentrate its focus on the segment for mass paints and new niches to aid in accelerating its growth in India. AkzoNobel is also expanding the brand in to new categories such as waterproofing and will also simultaneously look into new specialty offerings. The company entered into waterproofing products in the last year.
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