Waterproofing Chemicals Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Waterproofing Chemicals Market was worth US$ 34,169.0 Mn and is expected to grow at a CAGR of 7.5 % over the forecast period. The market is expected to hit US$ 70,423.4 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 6.4%, the market underwent significant growth.
The waterproofing chemicals market is witnessing significant growth with increased demand for safety and security in buildings worldwide. The use of waterproofing chemicals has been growing at a rapid rate across all sectors. This is due to increasing urbanization, industrialization, and technological advancement, which all contribute to this growth. As per expenditure estimates, most of the capital investment is being made by governments worldwide.
THE GROWTH IN THE CONSTRUCTION INDUSTRY FUELS THE MARKET
The increasing focus on infrastructure development worldwide drives the demand for Waterproofing Chemicals. The key drivers of the global waterproofing chemicals market are the rising demand for innovative solutions, infrastructure development, and upgrading, increasing focus on corrosion resistance, raising awareness of environmental issues, and government initiatives in this regard. Furthermore, increased urbanization has increased the need for reliable infrastructural solutions worldwide.
ENVIRONMENTAL CONCERNS HAMPER THE MARKET GROWTH
The wide use of waterproofing chemicals or membranes threatens human health and the environment. Because these chemicals are used in spray form, they can be harmful to workers as well as users around. These fluorinated compounds may enter the respiratory systems and cause problems like pneumonitis and lung toxicity. Other issues like bronchitis, nasal irritation, and throat irritation might arise from these chemicals.
GOVERNMENT INTERVENTION CREATES NEW OPPORTUNITIES
There is an increasing demand for waterproofing chemicals in Cement-based structures as it imparts longer life to the system. Moreover, regulatory authorities aim to set up guidelines to curb the rise in pollution levels and strive to create a model that incentivizes energy-efficient and green buildings.
Such initiatives are expected to generate a demand for waterproofing chemicals. Initiatives taken by governments of emerging nations to provide basic infrastructure facilities, such as concrete-based homes, access to proper roads, and better irrigation network, are expected to boost the infrastructure and industrial sector hence creating an opportunity for waterproofing chemicals.
Market Segments Covered in Report
By Product Type:
By Region and Country:
Why is Bitumen waterproofing expected to dominate the market growth during the forecast period?
The bitumen waterproofing chemicals market is expected to witness lucrative growth in the coming years because of its wide applications across the construction segment, which helps in laying down a bituminous waterproof membrane over the roof structures. Demand is also driven by extensive use as a mixture of organic liquids that provides waterproofing and highly sticky characteristics will boost the market demand shortly. On the other hand, the bitumen material sector is expected to dominate the market growth during the forecast period.
Why is the Roofing segment predicted to dominate the market?
Roofing is the largest application segment and is expected to continue its dominance over the forecast period because of increased government expenditure on infrastructure development. Rapid urbanization, combined With the expanding middle-class population’s disposable income, the construction industry is projected to experience market expansion. Increasing customer awareness of product quality is estimated to positively influence market expansion during the forecast timeframe.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Major manufacturers are buying up other small-scale market participants to increase their yearly turnover and fortify their market position internationally. Market participants are concentrating on merger and expansion operations to meet the expanding demand and remain competitive.
A list of some of the key suppliers present in the market are:
Global Waterproofing Chemicals Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Technology, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 7.5%.
Demand from various end-use industries, including transportation, building and construction, and manufacturing, is anticipated to drive growth.
Major global Waterproofing Chemicals Market players are BASF SE, DOW Chemical Company, Pidilite Industries Limited, Soprema Group, Carlisle Companies Inc., Johns Manville Corporation, Drizoro S.A.U, Mapei S.P.A, Fosroc International Limited, RPM International INC., SIKA AG, Wacker Chemie AG, Conpro Chemicals Private Limited, Bridgestone Corporation, and Choksey Chemical, among others.
Although the global market is expected to grow steadily during the forecast period, volatile raw material prices are estimated to hinder its growth.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Waterproofing Chemicals market.
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