Press release
Waterproofing Chemicals Market: Soaring Demand from Construction Industry to Bolster Market Growth During 2016 - 2024
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The world market for waterproofing chemicals is marked with the presence of several established market players, such as Mapei SpA, RPM International Inc., H.B. Fuller, Akzo Nobel NV, MUHU (China) Construction Chemicals, Pidilite Industries Ltd., Liquipel LLC, Evonik Industries, Archroma Management LLC, and so on. These market participants are focusing on their expansion in the various emerging economies of the Middle East and Africa, Latin America, and Asia Pacific.
TMR estimates that taking revenue in consideration, the market was earlier valued at around U.S$ 7,948.4 mn in the year 2015 and is estimated reach a market valuation of around U.S$ 12,335.2 mn by the year 2024, thereby expanding at a healthy growth rate of 5.1% of CAGR in between the year 2016 to 2024.
waterproofing chemicals marketAsia Pacific is Estimated to Lead the Market
The geographies of Latin America, North America, Asia Pacific, Middle East and Africa, and Europe have emerged as the crucial regional markets for the waterproofing chemicals. Amongst all of these regions, Asia Pacific has obtained the leading position and is expected to continue with its supremacy over the next few years. The substantial rise in the building and construction activities and the soaring number of smart city projects in various countries, such as India, Singapore, and New Zealand are the major factors that are driving the progress of the said market in the region of Asia Pacific..
Amongst other regions, the region of Middle East and Africa is emerging as the most lucrative one for the world market for waterproofing chemicals, owing to the increasing expansion of the refining capacities of a large number of refineries in the said region.
Growing Investment to Fuel Market Growth
The said marked is led by sustainable demand from the construction industry across the globe. It is considered pivotal to the overall progress of the world waterproofing chemicals market as the construction industry gives around more than 60% of its business to the waterproofing chemicals market. In the last few years, the burgeoning demand for a wide variety of waterproofing chemicals by the construction industry, for various purposes such as safeguarding the structures and buildings from seepage and leakage that are caused by moisture and water, has been crucial to the market growth. The requirement for these chemicals has been strong from various projects that handle refurbishment of existing buildings and new construction projects as well.
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Various public infrastructure spaces that comprise structures such as public utility centers, roadways, pavements, bridges, and tunnels, has also been crucial to the strong demand for waterproofing chemicals in the world market. Huge investments and the growing implementation of various development programs in the said field across different regions like Africa and Asia Pacific are further anticipated to drive the demand for waterproofing chemicals in the forthcoming years.
The information shared in this review is based on a TMR report, titled, “Waterproofing Chemicals Market (Product Type - Bitumen, PVC, EPDM, TPO, PTFE and Silicone; Technology - Sheet-based Membrane, Liquid Coated Membrane, and Cementitious Waterproofing; End Use - Construction, Infrastructure, Automotive, Textile and Leather) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024”
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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