Pune, India, Aug. 13, 2018 (GLOBE NEWSWIRE) -- According to the latest report by Market Research Future (MRFR), the Global Waterproofing Chemicals Market is projected to reach a size amounting to USD 32,915 million by 2023, exhibiting a 9.86% CAGR from 2017 to 2023 (forecast period).
Waterproofing Chemicals Market Overview
The transition to cities owing to employment opportunities and migration has created the demand for weather-resistant homes. Waterproofing chemicals are combined with coatings or substrates to make walls and roofs of homes water-resistant. These chemicals can strengthen the foundation of homes and extend their lifespan considerably. The demand for waterproofing chemicals is expected to escalate owing to the surge in infrastructural projects worldwide. Furthermore, the surge witnessed in roofing and walls can bode well for the market over the forecast period.
Industry News
- Tunneling has become prominent owing to the extraction of minerals or construction of new pathways to connect cities and villages. Roofs and walls can be sustained from collapsing with the help of LAMs. It can be used in car parks, landscapes, sunken areas, and pedestrian areas. It can stop the penetration of water or seepage of other liquids. For instance, ShaliCryl 215 by STP Limited is a polymer capable of resisting moisture and an excellent fit for weather resistance.
- The Elbphilharmonie Concert Hall located in Germany has undergone waterproofing to protect against itself from temperamental climates. The construction group, HOCHTIEF, used waterproofing sealants from Sika AG to highlight the sheen of the architectural marvel. The proprietary Sarnavap 5000 E vapor barrier by Sika has been used to offer a multi-layered barrier to the structure.
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Competitive Landscape
Major players in the waterproofing chemicals market include Soprema Inc., Drizoro S.A.U., DowDuPont, RPM International Inc., BASF SE, Sika AG, Pidilite Industries Ltd., Conpro Chemicals Pvt. Ltd., Carlisle Companies Inc., Mapei S.p.A, Wacker Chemie AG, Fosroc, and others. These players are investing in new units despite the challenges of commodity prices. For instance, BASF has invested in a R&D center to enhance its expertise in flooring and waterproofing solutions. Partnerships with local chemical producers are likely to sustain the positions of major players. This is evident with the expansion of Tremco illbruck International GmbH into Asia. It has partnered with Nurichem, a South Korean company, to position itself as a major provider of sealants and adhesives.
Market Movers and Shakers
Stringent standards pertaining to quality in buildings is expected to drive the global market demand over the forecast period. The influx of investment in the realty sector in developing economies is likely to positively impact the market. The revival of the housing industry after the financial debacle in 2008 is predicted to lead to improvements and repairs of old homes. This factor can boost the market demand considerably. Volatile prices of crude oil can impede the market growth. But the landfill and water management sector can provide opportunities for growth throughout the forecast period.
Browse the market data and information spread across 123 pages with data tables and figures of the report “Waterproofing Chemicals Market Report - Forecast 2017-2023” in-depth alongside in-depth table of content (TOC) at: https://www.marketresearchfuture.com/reports/waterproofing-chemicals-market-4533
Bitumen – The Most Used Waterproof Chemical
Types of waterproofing chemicals include ethylene propylene diene monomer (EPDM), thermoplastic olefin (TPO), bitumen, polyvinyl chloride (PVC), and others. The bitumen segment accounted for over 52% share in 2016 owing to its easy availability. Its worth can reach USD 17192.83 million by 2023. The TPO segment has been touted to grow at a rapid clip thanks to its recyclable nature.
Major applications of these chemicals include tunneling, roofing, flooring, basement, walls, and others. The roofing and walls cumulatively accounted for more than 50% share of the market. The roofing segment can expand at a 11.35% CAGR over the forecast period. Temperate weather conditions and the burgeoning population looking for housing can spike the demand for roofing in the coming years. The booming commercial and residential sectors can induce the demand for roofing till 2023. Emergence of liquid applied membranes (LAMs) to improve the sheen of walls and enhance its protectiveness can bode well for the global market.
Asia Pacific to Dominate the Waterproofing Chemicals Market till 2023
The Waterproofing Chemicals Market has analyzed the latest trends and opportunities in the following regions – Latin America, North America, the Middle East & Africa (MEA), Asia Pacific (APAC), and Europe.
The APAC region accounted for a large market share owing to the high penetration of end-use industries. Within APAC, China contributed the maximum in terms of demand and revenue in 2016. Moreover, urbanization and rapid industrialization are factors likely to spur market demand over the forecast period. The APAC waterproofing chemicals market can exhibit a CAGR close to 10.88% from 2017 to 2023.
The North America market assumed the second position after APAC in 2016. This can be credited to the reconstruction activities in the U.S. The North America market size can mushroom to USD 7201.60 million by 2023. On the flip side, Europe accounted for 17% share of the global market in 2016.
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