Waterproofing Market is Expected to Reach USD 12.22 Billion by 2025 & Growing at a CAGR of over 4% over the Forecast Period

The global waterproofing market was valued at USD 8.59 Billion in 2016 and is expected to reach USD 12.22 Billion by 2025 growing over a CAGR of over 4% over the forecast period. Waterproofing plays major role in protecting buildings and infrastructures from leakages and water seepages during rains. Waterproofing is done to various parts of buildings, which includes terrace, in-house or overhead tanks, swimming pools, terrace, etc. The waterproofing techniques prevent water from penetrating inside the building, thus increasing the life of the infrastructure.

Significantly rising residential as well as commercial construction projects and government spending for public infrastructures are propelling the growth of waterproofing chemicals market. Furthermore, for expanding the life expectancy of these public buildings, waterproofing is one of the important processes undertaken. Application of aluminosilicates in concrete and using water tight concrete are currents trends in waterproofing market. However, fluctuating rates of chemicals, are restraining the market growth.

In April 2016, BASF SE launched three new solutions, under its Master Builders Solutions brand. These solutions are designed to reduce resource consumption, improve productivity and guarantee buildings durability and are suitable for construction projects, including infrastructures, traffic decks and car parks, residential, industrial and commercial buildings.

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The global waterproofing chemicals market is segmented on account of the chemicals used as bitumen, elastomers, polyvinyl chloride (PVC), thermoplastic polyolefin (TPO) and ethylene propylene diene monomer (EPDM). Among the chemical segment, bitumen chemical is anticipated to have highest market share over the forecast period. Bitumen also known as asphalt is a mixture of viscous liquids. It is used as a chemical for waterproofing the roofs of buildings and provides high resistivity, toughness and excellent protection from UV light. Owing to these factors, demand for bitumen is expected to increase over the forecast period.

Further bifurcation of global waterproofing chemicals market is based on the technology, which includes preformed membranes, coatings & liquid applied membranes and integral waterproofing compounds. The environmental friendly and easily repairable nature of liquid applied membrane system is currently gaining popularity over the traditional methods in the industry. It is a coat of fully bonded and monolithic liquid, which forms a membrane like a rubber on the roof of a building. These are water based polymer membranes, which could be used with other roofing materials, including bitumen, PVC, concrete, etc.

Based on the applications, the market is divided into roofing and walls, floors and basements, waste and water management and tunnel liners. The application of waterproofing techniques for roofing and walls is anticipated to hold large market share over the forecast period owing to the majorly occurring water seepage issues in roof and walls which further minimizes the life of the wall, which may lead to cracks. Hence, demand for chemicals for waterproofing the walls and roofs is growing currently and is also projected to grow over the forecast period.

Asia-Pacific region is projected to grow at the fastest rate during the forecast period in global waterproofing chemicals market. Asia Pacific includes countries such as China, India, Japan and Australia. Growing number of infrastructure projects in China and increasing government spending in providing residential quarters to below poverty line people in India are influencing the positive market growth in the region.

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Key players in the industry include BASF SE, The Dow Chemical Company, Mapei S.P.A. and Pidilite Industries Limited. The competition in the industry is expected to strengthen with the development and launch of new processes, products, acquisitions and collaborations. For instance, Pidilite Industries acquired CIPY Polyurethanes Pvt. Ltd. This acquisition is expected to help the company to participate in the growth of the resin flooring and floor coatings market. The industries in the market are highly focused on offering effective solutions at nominal costs to their customers.

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