The report estimates and forecasts the waterproofing chemicals market on the global, regional, and country levels.
Albany, NY -- (SBWIRE) -- 02/22/2017 -- Global Waterproofing Chemicals Market: Snapshot
Waterproofing chemicals are extensively used to arrest or inhibit permeability of water or moisture in interior or exterior surfaces of a wide range of materials such as cement or concrete walls, floors, roofs, ceilings, apparel, leather articles, paper, and electronic goods. Waterproofing chemicals are applied mainly in the form of sheet membranes, cementitious coating, liquid coating membranes, sprays and coatings, and find extensive demand across the construction industry, among other applications across industries such as automotive and textile.
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The demand for waterproofing chemicals has been moderate since the last few years owing to sluggish growth of key end-use industries, weak economic growth, low consumer awareness in mass markets, and volatile raw material prices. The global consumption of Waterproofing Chemicals is however estimated to increase at a decent rate during the forecast period owing to growth and investment activities in end use industry. According to Transparency Market Research, the global waterproofing chemicals market, valued at US$7,669 mn in 2015, will exhibit a healthy 5.1% CAGR over the period between 2016 and 2024. If the number holds true, the market is anticipated to reach US$12,335.2 mn by 2024.
Construction and Infrastructure Sectors to Represent Majority of Sales
Traditionally, waterproofing chemicals have been perceived as a class of construction chemicals with a vast share of their annual production used exclusively in the buildings and construction sector. Though the present scenario is similar, with the building and construction sectors holding a lion's share in market's overall revenues, the identity of waterproofing chemicals has notably changed due to its developed scope of application in other end-use markets such as automotive, textile and leather, electronics, and paper and wood.
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Nevertheless, the construction industry, presently accounting for the dominant share in the global waterproofing chemicals market, is also expected to remain one of the prime consumers of waterproofing chemicals over the forecast period. The rising frequency of repair and refurbishment activities of existing buildings is expected to provide a lucrative opportunity for waterproofing treatment application in the construction sector over the forecast period. The construction segment presently
The infrastructure segment has also emerged as a leading consumer of waterproofing chemicals owing to the rising demand for construction of such structures as roads, dams, bridges, and other public utility spaces subject to high wear and tear from water and moisture. The global waterproofing chemicals market earns a significant share in its overall revenue from sales across the building and construction and infrastructure segments. Sales of waterproofing chemicals across these segments collectively constituted more than 70% of overall waterproofing chemicals business in mass consumer as well as high-end market segments in 2015 and the trend is expected to remain strong in the next few years as well.
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Flourishing Construction Sector to Help Asia Pacific Retain Dominance
In terms of geography, the waterproofing chemicals market in Asia Pacific emerged as the leading regional market in 2015 and is expected to account for nearly 38% share in 2016. Its share in the global market is expected to increase to over 40% in 2024, owing to the high growth in construction, automotive, and consumer electronics industries in the region. With relaxed norms related to regulation of waterproofing chemical products, the rampant use of the materials such as bitumen and PVC is expected to be seen in the region in the next few years, significantly driving the Asia Pacific waterproofing chemicals market.
Trailing the Asia Pacific market, the market for waterproofing chemicals in North America is expected to witness a marginal decline in its share in the global market in 2024 as compared to 2016. As the development of the North America waterproofing chemicals market is highly influenced by consumption in the U.S., this decline will primarily be a repercussion of the sluggish growth in the U.S. construction sector over the past few years.
Some of the key companies operating in the global waterproofing chemicals market are The Dow Chemical Company, E.I. du Pont de Nemours and Company, BASF SE, Sika AG, Evonik Industries, Wacker Chemie AG, RPM International Inc., W.R. Grace and Company, MAPEI Corporation, and Pidilite Industries etc.
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