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Waterproofing Chemicals Market 2024 - By Size, Share Analysis, Future Insights, Current Trends And Global Growth Outlook By 2033
Waterproofing Chemicals Market
According to The Business Research Company's, The waterproofing chemicals market size has grown rapidly in recent years. It will grow from $21.8 billion in 2023 to $24.15 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to rapid growth in urbanization, infrastructure renewal projects, growing awareness of structural protection, repair and maintenance activities, stringent building codes, real estate development..
The waterproofing chemicals market size is expected to see rapid growth in the next few years. It will grow to $35.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to climate change impact, expansion of green roofs, demand for high-performance coatings, resilience against floods, preference for liquid waterproofing, rise in diy waterproofing.. Major trends in the forecast period include technological advancements in formulation, polyurethane-based waterproofing, smart building technologies, advancements in nanotechnology, market expansion in emerging economies..
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Market Drivers and Trends:
An increasing building and construction expenditure is expected to propel the growth of the waterproofing chemicals market going forward. The construction sector refers to the sector of industry and trade that deals with creating, maintaining, and repairing infrastructures. The growing construction industry with rising expenditure fuels the need for waterproofing chemicals as they provide a controlled atmosphere and safeguard the structure and contents. For instance, in June 2021, according to a report published by Canada's national statistical agency, in Canada, the investment in building construction increased from $14,294 million in April 2019 to $19,273 million in April 2021. Also, in the USA, total construction spending increased by 16% since the pandemic's onset. Therefore, the increase in building and construction expenditure is driving the growth of the heating equipment market.
Technological developments are a key trend gaining popularity in the waterproofing chemicals market. Major companies operating in the waterproofing chemicals market are developing products with advanced technologies to sustain their position in the market. For instance, in June 2021, JSW Cement, an India-based cement company, launched its construction chemical range, which includes Krysta Leakproof integral crystalline waterproofing compound with reactive crystalline technology. It is a capillary waterproofing substance used in cementitious and concrete mortars in building projects. JSW blocks concrete pores and spaces by generating an impermeable barrier to liquids using a reactive crystalline technique. The compound's unique features help safeguard concrete and steel reinforcement in construction by permanently limiting water permeability. The substance enhances concrete's stability by protecting against both negative and positive side waterproofing.
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Major Key Players of the Market:
Pidilite Industries Limited; Bostik Inc.; Choksey Chemicals Pvt. Ltd.; Estop Pte. Ltd.; ExxonMobil Chemicals Company; Johns Manville Corporation; Mapei S.P.A; Mitsubishi Chemical Holdings Corporation; Polygel Industries Pvt. Ltd.; Sika AG; Soprema SAS; The Dow Chemical Company; Thermax Limited; Wacker Chemie AG; BASF SE; Henkel AG & Co. KGaA; Compagnie de Saint-Gobain S.A.; GAF Materials Corporation; Firestone Building Products Company LLC; Tremco Incorporated; Kemper System America Inc.; Carlisle Companies Inc.; GCP Applied Technologies Inc.; RPM International Inc.; Fosroc International Limited; Chryso SAS; Derbigum Manufacturing (Pty) Ltd.; Fosroc Inc.; GAF Material Corp.; Holcim Ltd.; Koster American Corporation; Mapei SpA; W.R. Grace & Co.
Waterproofing Chemicals Market 2024 Key Insights:
• The waterproofing chemicals market will grow to $35.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%.
• Surging Building And Construction Expenditure Boosts Growth In The Waterproofing Chemicals Market
• Technologies Advancements In The Waterproofing Chemicals Market
• Asia-Pacific was the largest region in the waterproofing chemicals market in 2023
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