Waterproofing Chemicals Market Size- Global Demand, Covid-19 Analysis, Sales, Consumption and Forecasts to 2023
Market
Overview
Waterproofing chemicals
are used to prevent damage to the structure caused by water clogging and
seepage when exposed to extreme weather condition such as heavy rains. It helps
to enhance the durability and life of an edifice. Waterproofing chemicals are
widely used in the construction industry either in the form of an emulsion or
as a waterproofing membrane. The global waterproofing chemicals market is
estimated to reach USD 32,915.00 million by 2023 and is expected to
grow at a CAGR of 9.86% during the forecast period. The prominent factors
favoring the growth of the market are growing demand for waterproofing
chemicals from rapidly increasing construction and infrastructural activities
in developing countries and growing demand for the waterproofing chemicals from
roofing and walls application. However, the growth trajectory of the market is
likely to be hampered by the cost-sensitive nature of the market owing to the
fluctuating crude oil prices and price-conscious consumers, especially, in
developing countries. Nevertheless, in coming years, the scope of the
application for the waterproofing chemicals is likely to widen with its rising
use in landfill and water management applications.
Segment
Analysis:
The Global Waterproofing Chemicals Market Size has been segmented on the
basis of type, application, and region. On the basis of the type, the market
has been classified into bitumen, PVC, TPO, and EPDM, among others. Other
waterproofing chemicals include polyurethane, silicone, polyethylene, and
acrylic polymer. Among these types, bitumen held the largest share of the
market in 2016 and is estimated to reach USD 17192.83 million by 2023. This is
attributed to easy availability and lower price of the bitumen as compared to
its counterparts. However, TPO has been estimated to grow at the highest CAGR
owing to its maximum recyclability and lower environmental impact.
Based
on the applications, the global waterproofing chemicals market is segmented
into roofing, walls, flooring, basement, tunneling, and others. Among
these applications, the roofing and walls together hold over 50% share of the
market due to higher vulnerability of the roof and walls to the rainwater.
During the years to follow, the roofing application segment is projected to
retain its dominance and is estimated to grow at the highest CAGR of 11.35% to
reach USD 12640.80 million by the end of the review period.
Key
Players
·
Sika AG (Switzerland)
·
BASF SE (Germany)
·
DowDuPont (The U.S.)
·
Wacker Chemie AG (Germany)
·
RPM International Inc. (The U.S.)
·
Pidilite Industries Ltd. (India)
·
Mapei S.p.A (Italy)
·
Carlisle Companies Inc. (The U.S.)
·
Fosroc (U.K)
·
Drizoro S.A.U. (Spain)
·
Conpro Chemicals Pvt. Ltd (India)
·
Soprema Inc. (The U.S.)
Regional
Analysis:
The Global Waterproofing
Chemicals Market
is spanned across Asia Pacific, Europe, North America, Latin America, and the
Middle East & Africa. As per MRFR analysis, Asia Pacific is likely to
dominate the global market during the forecast period. In 2016, the region
accounted for the largest share of the market and is estimated to grow at a
CAGR of 10.88%. Asia Pacific market is followed by North America, which
was accounted for the second largest waterproofing chemicals market in the
globe as of 2016. The U.S. is dominating the market on account of growing
demand from surging reconstruction activities in the country. The region is
estimated to reach USD 7,201.60 million by the end of 2023. Europe is a
substantial region in the market, which accounted for 17% share of the market
as of 2016. Country wise, China is the leading in the global waterproofing
chemicals market, in terms of value and volume.
Access Sample Report @ https://www.marketresearchfuture.com/reports/waterproofing-chemicals-market-4533
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