Acumen Research and Consulting recently published report titled “Waterproofing Chemicals Market Forecast, 2023 – 2032”
BEIJING, March 13, 2023 (GLOBE NEWSWIRE) — The Global Waterproofing Chemicals Market Size accounted for USD 11.6 Billion in 2022 and is projected to achieve a market size of USD 17.7 Billion by 2032 growing at a CAGR of 4.1% from 2023 to 2032.
Waterproofing Chemicals Market Research Report Highlights and Statistics:
- The Global Waterproofing Chemicals Market Size in 2022 stood at USD 11.6 Billion and is set to reach USD 17.7 Billion by 2032, growing at a CAGR of 4.1%
- The market is driven by increasing demand for waterproofing chemicals in a range of end-use industries, including construction, automotive, and textiles.
- Asia-Pacific is the largest market for waterproofing chemicals, with Europe and Asia Pacific regions being key markets
- Key players operating in the waterproofing chemicals market include BASF SE, Sika AG, Pidilite Industries Limited, The Dow Chemical Company, Mapei SpA, RPM International Inc., Carlisle Companies Inc., GAF Materials Corporation, Johns Manville, and Fosroc International Limited.
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Waterproofing Chemicals Market Report Coverage:
|Market||Waterproofing Chemicals Market|
|Waterproofing Chemicals Market Size 2022||USD 11.6 Billion|
|Waterproofing Chemicals Market Forecast 2032||USD 17.7 Billion|
|Waterproofing Chemicals Market CAGR During 2023 – 2032||4.1%|
|Waterproofing Chemicals Market Analysis Period||2020 – 2032|
|Waterproofing Chemicals Market Base Year||2022|
|Waterproofing Chemicals Market Forecast Data||2023 – 2032|
|Segments Covered||By Product, By Technology, By End-User, And By Geography|
|Waterproofing Chemicals Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||BASF SE, The Dow Chemical Company, Sika AG, Pidilite Industries Limited, RPM International Inc., Carlisle Companies Inc., GCP Applied Technologies Inc., Fosroc International Limited, Mapei S.p.A, and AkzoNobel N.V.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Waterproofing Chemicals Market Overview:
The Waterproofing Chemicals Market is a rapidly growing industry that is driven by the increasing demand for waterproofing solutions in a wide range of end-use industries, including construction, automotive, textiles, and others. Waterproofing chemicals are used to protect structures and materials from water damage, thereby extending their lifespan and improving their durability. These chemicals can be applied to a variety of surfaces, including roofs, walls, foundations, and basements.
The market for waterproofing chemicals is expected to continue to grow in the coming years, driven by the increasing construction activities in emerging economies and the need for waterproofing solutions to protect buildings and infrastructure from water damage.
The construction industry is the largest end-use segment of the waterproofing chemicals market. In addition to construction, waterproofing chemicals are also used in the automotive industry to protect vehicles from water damage and corrosion. The textile industry also uses waterproofing chemicals to create waterproof and water-resistant clothing and fabrics.
Geographically, the Asia-Pacific region is the largest market for waterproofing chemicals. The region is expected to continue to dominate the market in the coming years, driven by rapid urbanization and infrastructure development in countries such as China and India.
Key players in the waterproofing chemicals market include BASF SE, Sika AG, Pidilite Industries Limited, and The Dow Chemical Company, among others. These companies are investing in research and development to develop new and innovative waterproofing chemicals that offer improved performance and environmental benefits. Additionally, they are also focusing on strategic partnerships and collaborations to expand their product portfolios and market reach.
Trends in the Waterproofing Chemicals Market:
- Bio-based waterproofing chemicals: The trend towards eco-friendly products has led to the development of bio-based waterproofing chemicals that are derived from renewable sources and have lower environmental impact.
- Smart coatings: The development of smart coatings that are able to self-heal and repair damage caused by water is an emerging trend in the waterproofing chemicals market.
- Nano coatings: The use of nano coatings that can provide superior waterproofing performance by forming a protective layer on the surface of the material is gaining popularity.
- Rising demand for spray-applied waterproofing solutions: Spray-applied waterproofing solutions are becoming increasingly popular due to their ease of application and ability to provide seamless and uniform protection.
- Increasing use of waterproofing membranes: Waterproofing membranes are being increasingly used in the construction industry as they provide a reliable and long-lasting solution for protecting building structures from water damage.
- Growing demand for waterproofing chemicals in the automotive industry: The use of waterproofing chemicals in the automotive industry is increasing as they provide protection against water damage and corrosion.
- Increasing use of waterproofing chemicals in the textile industry: The textile industry is using waterproofing chemicals to create waterproof and water-resistant fabrics for a wide range of applications.
Waterproofing Chemicals Market Dynamics:
- Growing construction activities: The rising demand for waterproofing chemicals is driven by the increasing construction activities in emerging economies, such as China and India, where infrastructure development is a top priority.
- Increasing focus on sustainable building practices: The trend towards sustainable building practices is driving the demand for eco-friendly and sustainable waterproofing chemicals.
- Growth of green infrastructure: The trend towards green infrastructure is driving the demand for waterproofing solutions that are compatible with environmentally-friendly building practices.
- Need for protection against natural disasters: The increasing frequency of natural disasters, such as floods and hurricanes, is driving the need for waterproofing solutions to protect buildings and infrastructure from water damage.
- Growing use of waterproofing membranes: Waterproofing membranes are being increasingly used in the construction industry as they provide a reliable and long-lasting solution for protecting building structures from water damage.
- Need for protection in the oil and gas industry: The oil and gas industry is using waterproofing chemicals to protect pipelines and other equipment from water damage, which can lead to costly repairs and downtime.
- Increase in mining activities: The mining industry is using waterproofing chemicals to protect mining structures and equipment from water damage.
- Growing popularity of green roofs: Green roofs are becoming increasingly popular and require waterproofing solutions to prevent water damage to building structures.
Growth Hampering Factors in the Market for Waterproofing Chemicals:
- Volatility in raw material prices: The fluctuating prices of raw materials used in the production of waterproofing chemicals can hamper the growth of the market.
- Environmental concerns: The use of certain chemicals in waterproofing products may raise environmental concerns, resulting in regulatory restrictions on their usage, which can impact the growth of the market.
- Limited awareness among end-users: Lack of awareness among end-users regarding the benefits of waterproofing solutions can impact the demand for these products.
- Competition from alternative solutions: The availability of alternative solutions, such as water-resistant paints, can impact the demand for waterproofing chemicals.
- Economic slowdown: Economic downturns can result in reduced construction activities, which may affect the demand for waterproofing chemicals.
- High cost of waterproofing solutions: The high cost of waterproofing solutions may deter some customers from investing in these products, which can impact the market’s growth.
- Short product lifespan: Some waterproofing products may have a short lifespan, resulting in the need for frequent replacement, which can impact the market’s growth.
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By Type of product
- Liquid coated membrane
- Cementitious waterproofing
- Sheet membrane
Waterproofing Chemicals Market Overview by Region:
The Asia Pacific region’s Waterproofing Chemicals market share is the highest globally, driven by the increasing construction activities in countries such as China and India. The need for waterproofing solutions in the region is driven by the increasing demand for durable and long-lasting building structures, as well as the need to protect infrastructure from water damage. The region’s rapid industrialization, urbanization, and expanding automotive and textile industries are also driving the demand for waterproofing chemicals.
North America’s Waterproofing Chemicals Market share is also huge and is growing at the fastest rate, due to the region’s construction industry’s growth and technological advancements. The region has a strong focus on environmental sustainability, driving the demand for eco-friendly and sustainable waterproofing solutions. Additionally, the increasing demand for waterproofing chemicals in the automotive industry and the expansion of the oil and gas industry in the region are expected to drive the market’s growth.
Europe is another key market for Waterproofing Chemicals, driven by the construction industry’s growth, which is experiencing a revival after the recent economic downturn. The region’s focus on eco-friendly and sustainable building practices is driving the demand for green waterproofing solutions. Moreover, the region’s strict environmental regulations have led to a shift towards environmentally-friendly waterproofing solutions.
The South American and MEA regions have a smaller Waterproofing Chemicals market share, however it is expected to grow at a steady pace. The expanding oil and gas industry in the region is expected to drive the demand for waterproofing solutions to protect pipelines and other equipment from water damage.
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Waterproofing Chemicals Market Key Players:
The global waterproofing chemicals market has several prominent players. These players include BASF SE, The Dow Chemical Company, Sika AG, Carlisle Companies Inc., Evonik Industries AG, Pidilite Industries Limited, Huntsman Corporation, Mapei S.p.A, Fosroc International Limited, RPM International Inc., GCP Applied Technologies Inc., AkzoNobel N.V., Drizoro S.A.U., Penetron International Ltd., SIKA AG, Arkema S.A., GAF Materials Corporation, Saint-Gobain S.A., E.I. Du Pont De Nemours and Company, and Wacker Chemie AG.
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