Waterproofing Chemicals Market - Global Industry Analysis and Forecast | 2024

The global waterproofing chemicals market features a highly consolidated competitive landscape, with the top five companies accounting for over 85% of the overall market in 2015, observes Transparency Market Research in a recent report. These five companies, namely BASF SE, The Dow Chemical Company, E.I. du Pont de Nemours and Company, Evonik Industries, and Sika AG hold strong market positions owing to their wide geographical presence and product portfolios that span across a vast range of industrial applications. Market-oriented research and developments and increased focus on emerging markets such as Asia Pacific and Middle East and Africa are expected to bolster growth prospects of potential competitors in the near future.

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TMR estimates that in terms of revenue, the market was valued at U.S$7,948.4 mn in 2015 and will reach U.S$12,335.2 mn by 2024, expanding at a healthy CAGR of 5.1% between 2016 and 2024. In terms of end-use, the construction and infrastructure sectors cumulatively held more than 70% of the waterproofing chemicals business. These segments are also expected to retain their positions as the leading consumers of waterproofing chemicals over the forecast period. Geographically, the market for waterproofing chemicals in Asia Pacific is presently the leading regional market and is expected to remain the dominant regional market over the forecast period as well.

Healthy Demand across Construction Sector to Help Market Gain Momentum

Sustainable demand across the global construction industry is pivotal to the overall development of the global waterproofing chemicals market as the former provides the market more than 60% of its business. In the past few years, the rising demand for a variety of waterproofing chemicals in the ever-expanding construction industry, for purposes such as the protection of buildings and structures from leakage and seepage caused by water and moisture, has been key to market growth. The demand for these chemicals has remained strong from new construction projects as well as projects managing refurbishment of existing buildings.

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The public infrastructure space, including structures such as bridges, tunnels, pavements, roadways, and public utility centers, has also been key to the healthy demand for waterproofing chemicals in the global market. Extensive investments and the rising implementation of development programs in this field across regions such as Asia Pacific and Africa are expected to fuel the demand for waterproofing chemicals in the next few years.

Low Product Awareness among Consumers could Hinder Market Growth

Waterproofing chemicals are still largely considered a niche product in the construction chemicals segment. This is because of the understanding of the specific use of these chemicals in high-end applications, which is mostly limited to industry experts. The high base cost of these chemicals, in addition to the substantial costs incurred for labor have also been key restraints in terms of product acceptance and use in general consumer markets. As a result, waterproofing chemicals are mostly used in upscale construction segments.

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Waterproofing chemicals have a limited footprint in the global market, with a share of less than 20% of the overall construction chemicals market due to thier limited use in residential building segment as well as low product marketing and promotions. These factors are projected to have a sizeable negative impact on the overall development of the market in the next few years.

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