Waterproofing Chemicals Market Overview -
The Waterproofing Chemicals Market has been estimated to grow at CAGR of 9.86% to reach USD 32,915.00 Million till 2030. The global waterproofing chemicals market has been surging continuously over the past few years, mainly due to the rapidly growing construction industry. Besides, rising reconstruction and building upgrade activities led by improving economic conditions urbanization, accelerate the growth in the market.
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Moreover, surging demand for waterproofing chemicals market for roofing and walls applications in the rapidly increasing end-use industries are providing thrust to the market on the global platform. The global Waterproofing Chemicals Market can have a robust growth with an astonishing CAGR during the forecast period (2021-2030), reveals Market Research Future (MRFR). The report further incorporates drivers and segmental analysis to have a comprehensive understanding of the market in coming years. Sectors such as automotive, marine and chemical have huge applications for Waterproofing Chemicals Market. At the same time, increasing disposable income across the globe can boost the market further.
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.), and others.
Market Potential and Pitfalls :-
However, glass fiber epoxy resin composites mechanical properties bear negative impacts when exposed to moisture and high temperature which can adversely affect the growth of the Waterproofing Chemicals Market.
Growing demand for Glass Fibre Reinforced Plastic in health and hygiene applications is also likely to be a major driver for the Waterproofing Chemicals Market. Agriculture is also likely to remain an important application for the Waterproofing Chemicals Market over the forecast period. Glass Fibre Reinforced Plastic is acquiring an important role in tissue engineering and other healthcare applications due to its favorable physical properties. This is likely to remain a key driver for the global Waterproofing Chemicals Market over the forecast period. Waterproofing Chemicals Market demonstrates a combination of properties including light-weight, high levels of stiffness and high strength-to-weight ratio that allows design freedom, alongside the resistance to chemicals, excellent electrical insulating properties, and retaining dimensional stability across a wide range of temperatures. Due to these properties, Waterproofing Chemicals Market materials are used in applications ranging from casting on solid surfaces in housing, in the construction of boats to the pipework needed for chemical storage vessels and fume scrubbers.
Over the past few years, the Waterproofing Chemicals Market market is witnessing a huge growth mainly due to the demand for sturdy, yet light-weight materials in the fields of marine and aircraft building. Moreover, the rising demand for low weight, mouldability, and high-quality surface finishes in the automotive manufacturing sector escalates market on the global platform.
According to Market Research Future (MRFR), a leading research firm, the global Waterproofing Chemicals Market market, is estimated to witness a thriving growth by 2023. In its recent study, MRFR also asserts that the market would register an impressive CAGR during the anticipated period (2021 – 2030). Rapid industrialization, urbanization, and improving economic conditions worldwide are the key trends driving the Waterproofing Chemicals Market.
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Segment Study of Waterproofing Chemicals Market :-
The report is segmented into three market dynamics to widen the scope of understanding,
By Type: Bitumen, PVC, TPO, and EPDM, among others.
By Application: Roofing, Walls, Flooring, Basement, and Tunnelling, among others.
By Regions: Europe, North America, APAC, and the Rest-of-the-World (RoW).
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Waterproofing Chemicals Market Market - Geographical Analysis :-
The Asia Pacific region leads the global waterproofing chemicals market with the largest market share. The considerable growth in major end-user industries in the region is a growth driver for the regional market. Furthermore, raw material advantage, cost-competitive labor force, and moderate regulatory framework are contributing to the growth of the regional market. Also, augmenting demand from the burgeoning construction industry in India and China is fostering the growth of the APAC waterproofing chemicals market.
North America accounts for the second-largest market in the global waterproofing chemicals market share. Factors such as the strong base for various industries and rising investments in the field of RD drive the regional market growth. Rapid industrialization and growth in construction activities are creating colossal market demand. The US, backed by the growing demand from surging reconstruction activities in the country, accounts for the largest market in the region. North American waterproofing chemicals market is estimated to reach USD 7,201.60 MN by 2023.
Europe is a substantial market in the global waterproofing chemicals market. The region accounted for around 17% of the market share in 2016. European countries such as Germany and the UK are prominent consumer markets for these chemicals. Rising expenditure on innovation and growing purchasing power of consumers support the market growth. Additionally, the presence of major manufacturers, especially, in Germany will be providing impetus to the regional market growth.
Industry/ Innovation /Related News:
May 23, 2019 --- Sika AG (Switzerland), a specialty chemical company for building and motor vehicle supplies, announced the completion of its acquisition of Parex USA Inc, a leading manufacturer, and supplier of building materials. Parex product range includes waterproofing, tile adhesives, facade mortars, and technical mortars. Parex acquisition would further expand its footprints in the building finishing market, strengthening its position as a world leader in construction chemicals.
Post to the acquisition of Romanian market leader in waterproofing systems - Arcon Membrane SRL, in December last years, Sika's position in the roofing and waterproofing markets had strengthened significantly. In addition to the product portfolio to meet the increasing market demand for complete waterproofing solutions, this particular acquisition also marked Sika's expansion in bituminous membranes. The purchase was following several acquisitions in recent years such as Index in Italy, KVK in the Czech Republic, and Bitbau Dörr in Austria.
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