Waterproofing Chemicals Market - Up to Date Analysis of Market Trends By 2024

The solid growth of the construction industry, coupled with the rising costs of labor and raw material, is expected to drive the global waterproofing chemicals market. Typically, waterproofing is needed for every below-grade concrete surfaces. These include underground structures, foundations, plazas, and terraces. A number of internal spaces such as shower recesses, bathrooms, toilets, and laundries also require waterproofing chemicals.

By products, the global waterproofing chemicals market has been segmented into PVC, thermoplastic olefin (TPO), polytetrafluoroethylene (PTFE), Silicone, Bitumen, and ethylene propylene diene terpolymer (EPDM). According to technology, cementitious waterproofing, sheet membrane, liquid coated membrane, and others are the major segments. Infrastructure, automotive, textile and leather, construction, and others are the key end-user segments.

As per the findings of Transparency Market Research (TMR), in 2015, the global waterproofing chemicals market was pegged at US$7.6 bn. Expanding at a positive CAGR of 5.1% between 2016 and 2024, the market is slated to attain a revenue worth US$12.33 bn by the end of 2024.

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Construction, Infrastructure Segments Hold the Aces

Although numerous end-use industries have been increasingly deploying waterproofing chemicals by virtue of the water-resistance and flexibility of these products, major opportunities will sprout via the increasing demand for waterproofing chemicals in the building and construction sector. This end-use segment has been at the forefront since quite a long time, and is expected to retain its dominance over the next few years.

Under the construction segment, roofing has been displaying considerable demand for waterproofing chemicals owing to an increase in government spending on infrastructure. By product, bitumen accounted for a maximum amount of share of the global waterproofing chemicals market. The prominence of this product can be attributed to its exceptional binding properties and high viscosity.

Moreover, the growing popularity of TPO across several application areas is likely to propel the market expansion over the forecast period. Growth of niche applications such as expansion joints, subsoil waterproofing, and bitumen bonding will also boost the expansion of the global market for waterproofing chemicals. Apart from these factors, the rising consciousness about product quality will impel manufacturers to develop better quality products, thereby extending the growth of the market further.

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Emerging Economies in Asia Pacific to Cue in Further Expansion

Based on geography, the global market for waterproofing chemicals has been segmented into Europe, the Middle East and Africa, Latin America, Asia Pacific, and North America. The Middle East appears to be a promising terrain providing opportunities for the expansion of the waterproofing chemicals market. The extension of the refining capacities of several plants in the Middle East, driven by the regulatory compulsions aimed at reducing the dependence on oil and gas industry has been one of the key growth drivers of the market in this region.

Asia Pacific is slated to boast tremendous growth, triggered by the rapid diffusion of the building and construction activities. Smart city projects in countries such as India, New Zealand, and Singapore are also likely to fuel the demand for these products. As an increasing amount of population gets concentrated in urban cities, Asia and Africa might witness maximum urbanization. The rising purchasing power of individuals, favorable policies of the government, together with an inclination towards bio-based chemicals are speeding up expansion in the countries of Asia Pacific.

Some of the major companies operating in the global waterproofing chemicals market are Dow Chemical Company, Choksey Chemicals Pvt Ltd, ExxonMobil Chemicals, Mitsubishi Chemical Holdings Company, Pidilite Industries Ltd, DuPont De Nemours & Co, Eastman Chemical Company, Kumho Petrochemicals, RPM International Inc., MAPEI Corporation, Wacker Chemie AG, BASF SE, Evonik Industries, Sika AG, Estop Group, and Toray Industries.

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