Wilmington, Delaware, United States, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global waterproofing admixture market was projected to attain US$ 3.7 billion in 2020. It is anticipated to garner a 7.9% CAGR from 2021 to 2031 and by 2031, the market is likely to attain US$ 8.5 billion by 2031.
Over the course of the evaluation period, the Middle East and Africa's growing popularity with multi dwelling units will contribute to the optimistic growth of the regional market. In the meanwhile, during the past few years, waterproofing admixtures have been more in demand in North America and Europe.
The adoption of governmental laws governing VOC emissions and the increase in consumer knowledge of waterproofing admixtures are factors that are limiting demand. Nonetheless, the increasing possibility of high-performance concrete buildings in the regional housing market has greatly increased demand in Europe.
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Key Findings of the Market Report
- In order to improve protection, waterproofing admixtures are added to concrete buildings to decrease permeability and make them waterproof.
- They improve the process of general maintenance as well as the longevity of structures.
- The requirement to increase concrete's compressive strength and durability is what drives the need for waterproofing admixtures in the construction sector.
- One of the main factors driving the market is the increased use of waterproofing admixtures to solve different concerns with concrete durability in both new and existing building projects.
Market Trends for Waterproofing Admixture
- The global waterproofing admixture market is divided into three product types: pore-blocking, crystalline, and others (including supplementary cementitious materials). It is anticipated that the crystalline sector would dominate the global market for waterproofing admixtures.
- Crystalline waterproofing admixtures are expected to provide 46.7% by the end of 2031. They are mostly hydrophilic and have gained the distinction of being the main admixture. Their special ability to seal even small fractures in concrete comes from a combination of patented active chemicals and cementitious material that promotes self-healing.
- Admixtures that block pores have become popular secondary admixtures. They work by covering the concrete with an insoluble hydrophobic coating, which prevents water from passing through.
- This kind of product is classified as a Permeability-Reducing Admixture for Non-hydrostatic Conditions (PRAN) PRA category. The main components of pore-blocking admixtures that reject water include mineral oil, stearates, and derivatives of long-chain fatty acids.
Global Market for Waterproofing Admixture: Regional Outlook
- Asia Pacific, North America, Europe, Middle East & Africa, and Latin America are important regional markets for waterproofing admixtures. Asia Pacific is the largest of them and is probably going to stay that way for the duration of the evaluation.
- However, during the course of the assessment period, the Middle East and Africa's growing preference for multi-dwelling units is projected to support the regional market's promising expansion.
- Over the past several years, there has been a little maturation in the demand for waterproofing admixtures in North America and Europe. The year 2020 saw a decrease in uptake in North America. The introduction of laws governing VOC emissions and the increase in consumer knowledge of waterproofing additives are factors limiting demand.
- The increasing possibility of high-performance concrete buildings in the European residential market has greatly stimulated demand.
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Global Waterproofing Admixture Market: Key Players
The global market is being driven by an increase in the use of waterproofing admixture in both the residential and commercial sectors. The global market for waterproofing admixtures is home to several profitable businesses.
In order to fulfill customer demands, these businesses are raising their capital investments and placing a greater emphasis on research and development as well as higher-quality products. In addition, ongoing infrastructure building initiatives in developing nations are fueling the waterproofing admixture market's explosive growth. The following companies are well-known participants in the global waterproofing admixture market:
- CEMEX S.A.B. de C.V.
- BASF SE
- Sika AG
- Wacker Chemie AG
- Mapei S.P.A.
- W.R. Grace
- RPM International
- Fosroc International
- Dow Corning Corporation
- Xypex Chemical Corporation
- Evonik A.G.
- Pidilite Industries
Key developments by the players in this market are:
- In 2023, as part of its ongoing strategy to strengthen Cemex's Urbanization Solution business via bolt-on acquisitions with the goal of contributing to the development of vibrant, resilient, and more sustainable cities, Cemex has agreed to acquire Kiesel, a German-based technological leader in the mortar and adhesives industry.
- In 2023, BASF showcases the most recent developments in its agricultural innovation pipeline, which includes digital solutions, seeds and characteristics, and crop protection. Their main goal is to give farmers the much-needed tools they need to combat crop-specific and local pest pressures, climate change, evolving regulatory needs, and growing consumer demands.
Global Waterproofing Admixture Market Segmentation
Product Type
- Crystalline
- Pore-blocking
- Others
Application
- Residential
- Commercial
- Infrastructure
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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