Albany, NY -- (SBWIRE) -- 02/25/2019 -- Global Waterproofing Admixtures Market
Waterproofing admixtures are permeability-reducing admixtures that resist water penetration and reduces absorption into concrete under hydrostatic pressure or non-hydrostatic pressure. Waterproofing admixtures improve the durability of structures and reduce maintenance cost over time. These reasons have spiked the demand for waterproofing admixtures in the renovation of old structures as well as new ones. The report states that the value of the global waterproofing admixtures market is expected to be worth US$4.9 bn by 2024 from US$2.5 bn in 2015, as the market surges at a CAGR of 7.9%.
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Crystalline Waterproofing Admixtures Show Steady Growth in Residential Sector
Based on the product type, waterproofing admixture market is segmented into crystalline, pore-blocking, and others which include supplementary cementitious material. Crystalline waterproofing admixtures are hydrophilic in nature and are also known as the primary admixture. This type of admixture is produced using proprietary active chemicals and cementitious material. Crystalline admixtures have self-healing abilities and can thus repair a hairline crack that is up to 0.5mm. Thus, this product is categorized under permeability reducing admixture under hydrostatic pressure (PRAH).
On the other hand, pore-blocking admixtures are manufactured by using water repellent chemicals such as long chain fatty acids derivatives, mineral oil, and stearates. Pore-blocks admixtures form an insoluble hydrophobic layer on concrete walls to block passage of water if they are used during the hydration process. They are popularly known as secondary admixtures and categorized under permeability reducing admixture under non-hydrostatic pressure (PRAN).
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In terms of application, waterproofing admixture market is segmented into residential, commercial, and infrastructure sectors. The residential sector is expected to lead the global market due to increasing ongoing urbanization that has created a pressing need for new residential projects. Demand for the crystalline product is projected to be dominated by consumption of the product in residential as well as in commercial applications. Crystalline products offer several advantages than the other admixtures due to its characteristic feature such as the ability to work under hydrostatic pressure.
In terms of geography, the global waterproofing admixtures market is fragmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of these, Asia Pacific has been leading the global market and is expected to retain its dominance throughout the forecast period. The rapid growth of the construction sector across Asia Pacific, especially in countries such as India and China has boosted the demand for cement and concrete, which, in turn, is driving waterproofing admixture market. In the Middle East and Africa, development of new multifamily housing projects will contribute towards the global demand for waterproofing admixture. North America and Europe are mature markets and are less lucrative than Asia Pacific owing to the enactment of strict government regulations on CO2 and VOC emitting products and rise in consumer awareness about waterproofing admixtures in these regions.
The key players operating in the global waterproofing admixtures market are BASF SE, Sika AG, Mapei SPA, and Cemex. These companies are focusing on developing result-oriented marketing strategies and expanding their geographical reach to developing regions such as Asia Pacific in the coming years.