Luton, Bedfordshire, United Kingdom, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Waterproofing Chemicals market.
The Global Waterproofing Chemicals market is expected to grow at 11% CAGR from 2019 to 2028. It is expected to reach above USD 62 billion by 2028 from USD 24 billion in 2019.
Market Overview
Waterproofing chemical is a synthetic chemical product that protects the structure from water penetration and percolation. Excess water penetration in buildings can shorten their life span and may cause accidental damage to the structure, apart from electrical, metal, and other structural hazards.
Waterproofing chemicals are high-quality materials used on large scale in the building and construction industry to protect buildings and infrastructures against water penetration. Waterproofing chemicals have high sturdiness intended to lessen the maintenance cost and increase the life of the built structure. Various types of waterproofing chemicals are available worldwide.
Rising demand for waterproofing chemicals due to increasing infrastructure development and the necessity for water management activities in developing countries.
Due to rapidly increasing urbanization and industrialization all across the world, the construction sector is on an upswing, and this is likely to boost demand for waterproofing chemicals in this sector.
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Growth Factors
- Rising awareness about the benefits of using waterproofing chemicals in construction projects among architects, engineers, and contractors.
- Growing demand for green and sustainable construction practices that use less water and fewer resources.
- The proliferation of new technologies and products that offer better performance and sustainability than traditional waterproofing methods.
Future of Waterproofing Chemicals
Part of the difficulty stems from the cyclical nature of waterproofing. Economic cycles, building booms, weather conditions, competition, and building codes all play a role. In the years ahead, green building mandates, changing insulation requirements, and tighter building envelopes will be changing the face of the waterproofing industry
- Economics:
For those waterproofers who focus primarily on new construction, the coming year looks to be good for business. In the U.S., single-family housing continues to grow at a moderate pace, and building permits indicate even further growth in the months ahead. Low-interest rates, easier lending standards, and modest economic growth are fueling the increase.
- Diversification
Residential waterproofing is changing, with an emphasis on better products, better technology, and better craftsmanship. For instance, carbon fiber is revolutionizing basement crack repair. The technology has been around for more than a decade, but it is now widely accepted and cost-competitive.
Successful waterproofing companies in the future will offer a broad range of basement repair services, which will help smooth out the bumps of cyclical waterproofing.
- Regulations
Egress windows are another huge untapped market for waterproofers. In this case, the change is driven by code mandates, as they are required in all basement remodels.
- Green Building
Green building is one of the few sectors of the construction market that has experienced virtually uninterrupted growth over the past decade. The growing emphasis on long-term, life-cycle costs is favorable to waterproofing contractors who focus on quality and craftsmanship, and the green/sustainable building movement will give environmentally-friendly products an edge.
- Innovation
The cost of construction continues to rise, driven by escalating raw material and labor costs. In response, project developers and owners are increasingly choosing cutting-edge waterproofing products and solutions.
But the same trend holds true in all aspects of waterproofing. Crystalline admixtures, polyurethane coatings, and acrylic polymer-based cementitious coatings are all gaining in popularity. For drainage, there’s a move away from the historic straw-and-gravel approach to more modern materials, such as dimple drain sheets, perforated pipe, and geotextile systems.
Challenges
Environmental Concerns Hamper the Market Growth
The wide use of waterproofing chemicals or membranes threatens human health and the environment. Because these chemicals are used in spray form, they can be harmful to workers as well as users around. These fluorinated compounds may enter the respiratory systems and cause problems like pneumonitis and lung toxicity. Other issues like bronchitis, nasal irritation, and throat irritation might arise from these chemicals.
Waterproofing Chemicals Market Segmentation Insights
By Product Type
- Elastomers
- Polyvinyl Chloride(PVC)
- Thermoplastic Polyolefin(TPO)
- Ethylene propylene diene monomer(EPDM)
- Polytetrafluoroethylene(PTFE)
- Bitumen
- Styrene-Butadiene-Styrene Bitumen (SBS)
- Atactic polypropylene Bitumen (APP)
- others
- Others
The bitumen waterproofing chemicals market is expected to witness lucrative growth in the coming years because of its wide applications across the construction segment, which helps in laying down a bituminous waterproof membrane over the roof structures. 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.
By Technology
- Preformed Membrane
- Coatings & Liquid Applied Membrane Systems
- Integral Systems
- Others
By Application
- Roofing & Walls
- Floors & Basements
- Bridge & Highways
- Waste & Water management
- Tunnel & Landfills
- Others
Roofing is the largest application segment and is expected to continue its dominance over the forecast period because of increased government expenditure on infrastructure development. Rapid urbanization, combined With the expanding middle-class population’s disposable income, the construction industry is projected to experience market expansion.
By End Use
- Construction
- Automobile
- Textile and leather
- Infrastructure
- Others
Waterproofing Chemicals Market Regional Insights
The Asia Pacific is anticipated to have a 59.0 % market share between 2022 and 2032. Throughout the entire forecast period, the construction industry is expected to witness rapid growth due to the increasing disposable income of the middle-class population and their growing interest in property investment.
North America is anticipated to grow at a CAGR of 6.4% during the forecast period. This can be attributed to various factors such as healthy end-users, construction industry growth, and continuous renovations of the residential construction sector
Europe and North America are moderately developed. They are characterized by a growing preference for bio-based chemicals and new product developments.
Waterproofing Chemicals Market Competitive landscape
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, Pidilite Industries Ltd, Pidilite Industries Limited, Soprema Group, Carlisle Companies Inc., Johns Manville Corporation, Drizoro S.A.U, Mapei S.P.A, Fosroc International Limited, RPM International INC., SIKA AG, Wacker Chemie AG, Conpro Chemicals Private Limited, Bridgestone Corporation, Choksey Chemical.
- November 28, 2022: Evonik launches next-generation deaerator for UV wood coatings
- On Oct. 6, 2021, Dow announced its plan to build the world's first net-zero carbon emissions integrated ethylene cracker and derivatives site with respect to scope 1 and 2 carbon dioxide emissions.
- In January 2022 – Saint-Gobain a leading name in the construction chemicals industry is forking out nearly USD 2 billion for GCP Applied Technologies which is known for its high-performance waterproofing solutions and other specialty construction chemicals.
- 29 November 2021: Fosroc has recently introduced Polyurea WH 100, a product that gives many benefits to a wide range of roof waterproofing applications.
FAQS
- What is Waterproofing Chemicals?
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- Which are the top companies in the Waterproofing Chemicals Market?
- What segments are covered in Waterproofing Chemicals Market?
- Which region holds the largest market share in the waterproof chemicals market?
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