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.
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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This review of the market is based on a recent market
research report published by Transparency Market Research, titled
“Waterproofing Chemicals Market - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2016 - 2024.”
For the study, the global waterproofing chemicals
market has been segmented as follows:
Waterproofing Chemicals Market - Product Analysis
- Bitumen
- PVC
- EPDM
- TPO
- PTFE
- Silicone
Waterproofing Chemicals Market - Technology
Analysis
- Sheet based Membrane
- Liquid Coated Membrane
- Cementitious Waterproofing
- Others (sprays, coatings etc.)
Waterproofing Chemicals Market - End Use Analysis
- Construction
- Infrastructure
- Automotive
- Textile and Leather
- Others
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