Waterproof Coating Market Drivers Shaping Future Growth and Application | Oriental Yuhong Waterproof Technology Co. Ltd., the Valspar Corporation
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Coating is a thin layer which covers any surface and waterproofing is the process of making an object water resistant. Waterproof coatings help an object to stay unaffected by water and oppose the penetration of water under certain conditions. These coatings are used for various applications such as chemical, furniture, automobiles, and building & construction. They can be applied on interior as well as exterior surface of an object. These coatings play an important role and provide more protection and enhance aesthetics of products. They are widely used in tunnels, bridges, buildings, and road construction.
Rising demand for building waterproof coatings, advanced support systems, and improved technologies are some factors that boost the market growth. Factors such as need for efficient process and durable coatings with better aesthetics, growth in the building & construction industry, rapid industrialization, and continued recovery of the global economy are contributing significantly to the overall market growth.
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Development of unique product formulation technologies and products are anticipated to come up with new growth opportunity for the market in the future. The growth in the need for environmentally-friendly coatings is also driving market. However, unstable supply and fluctuating prices of raw materials are the factors that are expected to restrain the market growth.
The global waterproof coating market is segmented on the basis of type, end use industry, and region. By type, it is bifurcated into liquid and dry. On the basis of end use industry, it is classified into building & construction, automotive & aviation, furniture & wood, electronics & electric, textile, packaging, footwear, marine, and others.
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By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Among these regions, Asia-Pacific is anticipated to be the dominating region, owing to increasing infrastructural activities linked with lower operating costs in the region.
Key players operating in the global waterproof coating market are BASF SE, the Sherwin-Williams Company, Oriental Yuhong Waterproof Technology Co. Ltd., the Valspar Corporation, PPG Industries, Akzo Nobel N.V., Sika, ParexGroup Construction Products Pvt. Ltd., Keshun Waterproof Technology Co., ltd., and Saint-Gobain Weber. These players have acquired various strategies such as acquisitions, partnerships, collaboration, joint ventures, agreements, expansions, and new product launches to create a strong consumer base in the market.
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KEY BENEFITS FOR STAKEHOLDERS:
The waterproof coating market size has been analyzed across all regions.
Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for building strategies.
The report outlines the current market trends and future scenario of the market size from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets.
Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and market opportunities and their detailed impact analysis are elucidated in the study.
The market analysis covers in-depth information of the major industry participants.
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