Global
Waterproofing Chemicals Market: Snapshot
With
the robust growth of the construction industry, the global market for
waterproofing chemicals has gain substantial impetus across the
world. Waterproofing chemicals are used for several purposes, such
as, the protection of the buildings from seepage and leakage caused
by water and moisture. The upswing in industrialization and the rise
in urbanization have stimulated the demand for these chemicals
considerably, which is likely to remain strong across the world on
the grounds of new construction projects as well as projects managing
refurbishment of existing buildings. The increasing costs raw
materials and surge in labor wages is expected to drive this market
further in the years to come.
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The
rising construction of public infrastructure spaces, such as,
tunnels, bridges pavements, and public utility centers, and roads,
are also projected to add to the demand for waterproofing chemicals
in the near future.
In
2015, the overall opportunity in the global waterproofing chemicals
market was US$7.6 bn. Analysts expect the market to remain positive
with a CAGR of 5.10% over the period from 2016 to 2024 and reach a
value of US$12.3 bn by the end of 2024.
Construction
Industry to Remain Key Consumer for Waterproofing Chemicals
Waterproofing
chemicals find an extensive application in the infrastructure,
textile and leather, automotive, and the construction sectors. Among
these, the construction sector has surfaced as the leading consumer
of these chemicals and is expected to remain dominant over the next
few years. In construction activities, roofing has been exhibiting a
considerable demand for these chemicals, thanks to a substantial
increase in the government fund on the improvement of infrastructure
across the world.
PVC,
polytetrafluoroethylene (PTFE), thermoplastic olefin (TPO), bitumen,
silicone, and ethylene propylene diene terpolymer (EPDM) are the key
products available in the global market for waterproofing products.
Among these, bitumen holds the maximum amount of share in the global
market, thanks to its high viscosity and exceptional binding
properties. PVC and silicone also enjoy a strong demand and are
anticipated to continue doing so over the forthcoming years.
Asia
Pacific to Remain Dominant Market for Waterproofing Chemicals
The
Middle East and Africa, Europe, Asia Pacific, Latin America, and
North America have surfaced as the key regional markets for
waterproofing chemicals. Among these, Asia Pacific has acquired the
leading position and is anticipated to remain seated here over the
forthcoming years. The significant rise in building and construction
activities and the rising number of smart city projects in various
countries, such as New Zealand, India, and Singapore are the main
driving factors behind the growth of the Asia Pacific market for
waterproofing chemicals.
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Among
others, the Middle East and Africa region is emerging as the most
promising market for waterproofing chemicals, thanks to the
increasing expansion of the refining capacities of a number of
refineries in the Middle East.
The
highly consolidated competitive landscape of waterproofing chemicals
includes several established players, such as Liquipel LLC, RPM
International Inc., MUHU (China) Construction Chemicals, Archroma
Management LLC, Sibelco AG, Pidilite Industries Ltd., H.B. Fuller,
W.R. Grace and Co., Sika AG, Evonik Industries, Akzo Nobel NV.,
Wacker Chemie AG, Mapei SpA, E.I. du Pont de Nemours and Co., The Dow
Chemical Co., and BASF SE. These partcipants are concentrating on
their expansion in emerging economies in Asia Pacific, Latin America,
and the Middle East and Africa.
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