Waterproofing Chemicals Market - Recent Study Including Growth Factors, Regional Analysis and Forecast till 2023 by Key Players
Waterproofing chemicals are specifically synthesized chemicals that protect the structure penetration, percolation and seepage of water. Excess of water can shorten the life span and may cause an accidental damage to the structure. Apart from this, there are many possible electrical, metal and other structural hazards. Waterproofing chemicals offer significant advantages to the building or a substrate such as lower maintenance cost, sustainable building and protection from extreme weather conditions.
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It also helps to enhance the durability and life of an edifice. It is generally applied to the exterior of a foundation system or mixed with construction materials. Waterproofing chemicals are widely used in construction industry either in the form of emulsion or a waterproofing membrane. The most important advantage of waterproofing chemicals is that it adds to the lifespan of the structure, which makes it economical and sustainable.
Market scenario: expanding scope of application with substantial demand from landfill and water management application
The global waterproofing chemicals market has been experiencing remarkable growth over the past decade owing to the rapid growth and expansion of building & construction industry. Waterproofing chemicals are majorly used in construction activities to increase life span of an edifice. The global market is witnessing massive opportunity offered by new applications such as water management and landfill. This is projected to drive the global waterproofing chemicals market forward over the forecast period.
There is a growing demand of light weight and stiff structures in construction, automotive and aerospace industry, which is needed to be sealed and protected from water leakages during extreme weather conditions. The global waterproofing membrane market is set to grow at considerable CAGR of 9% to reach a double digit billion dollar figure, which is expected to fuel the demand of waterproofing chemicals in the coming years. Increasing demand of waterproofing sealants in new hybrid and electric vehicles in order to protect their internal wiring is projected to drive demand of waterproofing chemicals in automotive industry to propel growth of the market.
Trends and forces that are threatening the growth trajectory of the market
The major bottleneck operating in the market is a lack of awareness, scarcity of skilled labour, in some of the major emerging economies and inconsistent raw material prices which are heavily dependent on crude oil prices are the major causes of concern in the market.
Competition scenario: the market consist of considerable number of tier 1 companies which are facing considerable competition from relatively smaller players.
As per our analysis, the market consists of several leading players, which are enjoying a sizeable share of the market and garnering substantial annual revenue in this particular product segment. The prominent manufacturers are operating in the market: Sika AG (Switzerland), BASF SE (Germany), DowDuPont (The U.S.), Wacker Chemie AG (Germany), RPM International Inc. (The U.S.), Pidilite Industries Ltd. (India), Mapei S.p.A (Italy), Carlisle Companies Inc. (The U.S.), Fosroc (U.K), Drizoro S.A.U. (Spain), Conpro Chemicals Pvt. Ltd (India), and Soprema Inc. (The U.S.), among others.
Among them, the major players holding over half of the overall production of Sika AG, BASF SE, DowDuPont, Wacker Chemie AG, RPM International Inc., Pidilite Industries Ltd.
These companies are adopting capacity expansion and product launch tactics to retain their dominance over the forecast period. Furthermore, the major players in the market are investing nearly 3% of their sales revenue in R&D of new chemicals and technology waterproofing applications, which is anticipated to boost the demand of waterproofing chemicals in coming years.
4.1 Introduction 20
4.2 Drivers 21
4.2.1 Surging Demand For Waterproofing Chemicals From Rapidly Increasing Construction Activities In Developing Countries. 21
4.2.2 Growing Demand From Roofing And Walls Application 22
4.3 Restraints 23
4.3.1 Cost Sensitive Nature Of Market Due To The Fluctuations Of Crude Oil Prices And Price Conscious Consumers 23
4.4 Opportunity 24
4.4.1 Landfill And Water Management Sector Is Posing As Great Opportunity 24
4.5 Market Trend 24
4.5.1 Steady Rise In Consumption Of Waterproofing Chemicals 24
Market Factor Analysis:
5.1 Supply Chain Analysis 25
5.1.1 Raw Application Suppliers 26
5.1.2 Waterproofing Chemicals Manufacturers 26
5.1.3 Distribution Channel 26
5.1.4 End-Use Industry 27
5.2 Porter’s 5 Analysis 27
5.2.1 Threat Of New Entrants 28
5.2.2 Threat Of Rivalry 28
5.2.3 Threat Of Substitute 28
5.2.4 Bargaining Power Of Supplier 29
5.2.5 Bargaining Power Of Buyer 29
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