Waterproofing chemical is a synthetic chemical product that shields the structure from water penetration and percolation. The excess water penetration in buildings can reduce their lifespan and may cause damage to the structure, apart from electrical, metal and other structural hazards. It is generally applied to the peripheral of a foundation structure or mixed with a construction application. Application of waterproofing imparts substantial advantages to the building which include lower maintenance cost of buildings and protection from extreme climatic conditions. Some of the important waterproofing chemicals include Polyurethane, acrylic polymer, elastomeric coatings, expanded polyethylene and polysulphide sealants. These chemicals are available in liquid, solid, and semi-liquid form.
Market Size and Forecast
Waterproofing chemicals market is anticipated to witness a CAGR around 9% during 2017-2027. It is anticipated to reach around USD 46 Billion by 2027 from USD 19 Billion in 2017. Rising demand for waterproofing chemicals for construction activities in developing economies and growing use in application such as roofing and walls are the main factors driving the market.
The global waterproofing market is segmented on the basis of type, application, and end-use. The market is segmented on the basis of application, the roofing and walls segment dominated the waterproofing chemicals market with the maximum share in 2016. Waterproofing synthetic compounds have been adequately utilized for a long time in the business and private building industry for applications, for example, material and dividers and floors and storm cellar. Rising development in the construction industry in the developing economies, the market of waterproofing chemicals is further anticipated to escalate during period 2017-2027.CLICK TO DOWNLOAD FREE SAMPLE
By region, global waterproofing market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia-Pacific nations are foreseen to be the most lucrative market for waterproofing enterprises. The variables, for example, simple accessibility of crude material and foundation speculation are the primary purposes behind nations to lead the market. With over 27% market share China has overtaken U.S in terms of market size. China alongside with India contributes to half of the global waterproofing market. Asia-Pacific will see a massive rise in infrastructure on the account of China’s policy on infrastructure development under its 12th Five Year Plan and the ‘Make in India’ a Swadeshi movement started by the Indian government in 2014.
In 2016 Europe was accounted for a considerable market share of around 18% in waterproofing chemicals market. Germany is the leading market in this region dominating the regional market on account of increasing demand from the roofing walls and basement application.
Our in-depth analysis segmented the global waterproofing chemicals market in the following segments:
Global waterproofing chemicals market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Increasing consciousness among various end-users concerning cost-effective waterproofing chemicals combined with developing construction industry is driving market growth. The other factor such as increasing spending on infrastructural development, rapid industrialization and increasing public infrastructural places is supposed to foster market growth. Moreover, increasing demand for environment-friendly waterproofing chemical is expected to offer the new opportunity for key players in global waterproofing chemicals market. In addition, the increasing cost of raw materials and an increase in the income of labor will further augment the waterproofing chemicals market. On the infrastructure front, on the account of the growing demand, there is a huge increase in the construction of public infrastructure spaces such as tunnels, bridges, roads, etc. and this is anticipated to further foster the market of waterproofing chemicals.
The various restraining factor such as low awareness levels, lack of skilled labor, and inconsistent export policies in some of the major emerging economies will be the major causes of concern among chemical industries.
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