Waterproofing Chemicals Market Forecasts to 2030 – Global Analysis By Product (Bitumen, Polyvinyl Chloride (PVC), Thermoplastic Polyolefin (TPO), Ethylene propylene diene terpolymer (EPDM), Polytetrafluoroethylene (PTFE) and Other Products), Technology, Application and By GeographyAccording to Stratistics MRC, the Global Waterproofing Chemicals Market is accounted for $37.5 billion in 2023 and is expected to reach $88.8 billion by 2030 growing at a CAGR of 13.1% during the forecast period. Waterproofing is a method to prevent the products or properties from water to provide chemical and corrosion barrier. Waterproofing chemicals are a mixture of different chemical compounds used to facilitate resistance against leakage and increase the durability of the final product. These chemicals are applied as additives and admixtures with the materials such as cement, plastics, colors, inks, paints, mortar, and detergents. Some of the main waterproofing chemicals used are polyethylene, polyurethanes, polysulfide sealants, elastomeric coatings, and acrylic polymer. Waterproofing chemicals are used in various technologies such as performed membranes, coatings, integral systems, and others.
According to BP statistics, in 2018, average oil price increased to $71/ bbl from $54/bbl in 2017.
Market Dynamics:
Driver:
Ongoing initiatives toward energy efficient and green buildings
Regulatory authorities intend to establish guidelines to reduce pollution levels while also creating a model that incentivizes energy efficient and green buildings. These types of initiatives are expected to increase demand for waterproofing chemicals. Initiatives taken by developing-country governments to provide basic infrastructure facilities such as concrete-based homes, access to proper roads, and a better irrigation network are expected to boost the infrastructure and industrial sectors, creating a demand for waterproofing chemicals.
Restraint:
Challenges associated with water proofing
Bitumen-based products soften in the summer heat because the black color has restricted life due to solvent evaporation. Polyurethane protective coating delays the natural breathing capability of concrete. The polyurethane protective coating has a restricted pot life, the impermeable floor coating permits water to form below the floor coating. Cementation waterproofing is the inability to maintain the cracks, which causes further leakage.
Opportunity:
Booming construction industry
Construction is a high-risk industry that includes a wide range of activities, from infrastructure development to renovation that includes residential construction, bridge construction, road paving, and large-scale re-roofing jobs. The increase in these construction activities is creating additional demand in emerging economies for waterproofing chemicals. Therefore, the growth in construction projects and investments is driving waterproofing chemicals market growth.
Threat:
Fluctuating raw material prices
Price and availability of raw materials are major factors that affect the price of the end products. The major challenge for the market is the oscillating price trends of raw materials, which are fluctuating due to volatile energy prices, as most of the raw materials are petroleum-based. Fluctuating raw material prices, which are heavily reliant on petrochemical supply and demand, will limit the growth of the waterproofing chemical market during the forecast period.
Covid-19 Impact
The current pandemic has not only caused a slew of issues for the construction industry, but it has also thrown the global economy into disarray. The global crisis, the length of the recession, and the pace of recovery will all significantly impact the existence and severity of these issues. Furthermore, the pandemic's disruption of global supply chains has had an increasing impact on construction activities, resulting in shortages of raw materials and other inputs, contractors, subcontractors, and workers. As a result, waterproofing chemicals gain the majority of their market share from the construction industry.
The thermoplastic polyolefin (TPO) segment is expected to be the largest during the forecast period
The thermoplastic polyolefin (TPO) segment is estimated to have a lucrative growth, due to they are highly resistant to moisture and flame, with good flexibility. TPO membranes contain no toxic or hazardous ingredients and are fully recyclable. The Polyvinyl Chloride (PVC) roofing solution is also growing at a faster rate during the forecast period, due to a variety of standout characteristics, such as, durability in harsh weather and temperature extremes, energy efficiency, flame resistance, water repellants, heat and solar reflectance, and others.
The roofing & wall segment is expected to have the highest CAGR during the forecast period
The roofing & wall segment is anticipated to witness the fastest CAGR growth during the forecast period. Leakage in buildings, especially roofs and walls has been a major concern worldwide for years. Water-ponding or the stagnation of water due to rainfall on roofs, and wall causes deterioration of concrete materials, which leads to wreck roof which may cause the entire building to wreck. Thus, in order to avoid such risks waterproofing chemicals are widely used in roofs and walls. The usage of waterproofing chemicals offers several benefits, such as superior fire and wind resistance, very high tensile strength, and waterproofing characteristics.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing government investments on infrastructure developments. The growth in infrastructure projects is mainly due to an expanding population, resulting in the need for more residential and commercial buildings for various purposes. Therefore, rising construction in these countries is driving waterproofing solutions market growth in region.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to a rise in preference for sustainable construction activities, thereby augmenting the growth of the bio-based waterproofing chemicals. European Commission announced favorable policies governing the production of natural-based polymer products such as biopolymers thereby enabling companies to provide eco-friendly products and solutions. The robust manufacturing base of the textile and fabric industry coupled with growing domestic demand is anticipated to augment the regional market.
Key players in the market
Some of the key players profiled in the Waterproofing Chemicals Market include Pidilite Industries Limited, BASF SE , Sika AG , The Dow Chemical Companyv, RPM International Inc., Fosroc International Limited, GCP Applied Technologies Inc, AkzoNobel N.V. , Mapei S.p.A , Evonik Industries and Trinseo Europe GmBH.
Key Developments:
In May 2022, Pidilite Industries toughens its waterproofing portfolio in partnership with GCP Applied Technologies, USA.
In April 2022, Pidilite Industries Limited, a leading manufacturer of adhesives, sealants and construction chemicals, has partnered with GCP Applied Technologies Inc, a global leader in construction products, to offer high performance waterproofing solutions for challenging sites that have exposure to high temperature variation and water table, under its brand Dr.Fixit.
Products Covered:
• Bitumen
• Polyvinyl Chloride (PVC)
• Thermoplastic Polyolefin (TPO)
• Ethylene propylene diene terpolymer (EPDM)
• Polytetrafluoroethylene (PTFE)
• Other Products
Technologies Covered:
• Preformed Membranes
• Liquid Applied Membrane Systems
• Other Technologies
Applications Covered:
• Bridge & Highways
• Roofing & Wall
• Floor & Basement
• Water & Waste Management
• Tunnel & Landfills
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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