Zion Market Research has published a new report titled “Waterproofing Chemicals Market by Product (Polymers, Bitumen, and Others) by Technology (Integral Systems, Preformed Membranes, and Coatings & LAMS) for Roofing & Walls, Waste & Water Management, Floors & Basements, Tunnel Liners, and Others Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, global waterproofing chemicals market was valued at USD 19.49 billion in 2017 and is expected to reach USD 43.08 billion in 2024, growing at a CAGR of 12% between 2018 and 2024.
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Waterproofing chemicals increase the life of any infrastructure work. Moreover, it prevents the water penetration or water leakage, which can be acquired with the help of waterproofing chemicals. Water penetration causes electrical and metal hazards along with the decreased life of any big infrastructure.
The market is driven by various factors such as the growing quality of construction and rising demand from developing countries is estimated to drive the waterproofing chemicals market over the forecast period. However, sluggish construction sector growth in Europe is further expected to impede the demand of the market. Nevertheless, the need for water management in the Asia Pacific and rising construction in developing countries are the major opportunities for the global waterproofing chemicals market during the projected years.
The market for waterproofing chemicals is segmented into technology, product, application, and region On the basis of the key product, the waterproofing chemicals market is fragmented into polymers, bitumen, and others. Bitumen held the largest market share in 2017. Bitumen is one of the commonly used types of waterproofing chemical, globally. Bitumen is largely used in coatings & LAMs and preformed membranes as bitumen waterproofing membrane. Bituminous coatings and membranes provide exceptional waterproofing properties, excellent high-resistance properties, and incorporates high toughness and resistance to UV light. Rising government investments on construction projects & commercial building are fueling the demand of the waterproofing technology/system, which is expected to boost the demand for bitumen over the forthcoming years.
Asia Pacific region accounted for more than one-third market shares of waterproofing chemicals in 2017 and it is expected to be the dominating region in the near future. Owing to the increasing construction sector due to the economic growth and rapid industrialization over the past few years in the region, along with increasing investments for the construction and development for the big infrastructure projects in the region is anticipated to boost the waterproofing chemical market in the near future. Major projects and easy raw material availability in the region is expected to propel the demand for waterproofing chemicals by the end of the assessment period. North America and Europe are projected to exhibit a significant growth rate in the near future. The Middle East and Africa and Latin America are expected to witness moderate growth in the near future, owing to the relatively less developed region and low investment in the infrastructure and construction industry.
The key manufacturers in the global waterproofing chemicals market are The Dow Chemical Company, Estop Group, Bostik Inc., Polygel Industries, Thermax Limited, Sika AG, Mitsubishi Chemical Holdings Corporation, ExxonMobil Chemicals, Eastman Chemical Company, and Toray Industries.
This report segments the waterproofing chemicals market as follows:
Waterproofing Chemicals Market: Product
Waterproofing Chemicals Market: Technology
- Integral Systems
- Preformed Membranes
- Coatings & LAMS (Liquid Applied Membrane Systems)
Waterproofing Chemicals Market: Application Analysis
- Roofing & Walls
- Waste & Water Management
- Floors & Basements
- Tunnel Liners
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Waterproofing Chemicals Market: Region Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa