According to a new market report published by Acute Market Reports, “Waterproofing Chemicals Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2023,” the demand for waterproofing chemicals is anticipated to observe high demand due to booming building and construction activities worldwide. The growing population is another factor promoting the growth of global waterproofing chemicals market.
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The construction industry has evolved considerably in the past decades with advanced molecules which possess the enhancing properties such as strength, reduced water requirement and increased resistance to corrosion. Waterproofing chemicals are the compounds which are mixed with other chemicals to insure reduction and stoppage in leakage, corrosion resistance and abrasion. Waterproofing chemicals which are also known as construction chemicals belong to a very niche segment of chemical industry. Waterproofing chemicals are basically compounds are used in the end use industry as additives and admixtures along with different building materials such as concrete, plastics, paints, mortar, detergents and colors among others. These chemicals are of wide variety according to its product type. They are categorized into product types as bitumen which is further classified into APP bitumen & SBS bitumen and polymers which include PVC, EPDM, TPO, etc. Therefore, the construction industry uses waterproofing chemicals for various applications in the residential, commercial and industrial sector worldwide.
The major factor driving the growth of global waterproofing chemicals market is the rising urbanization in both the developed and developing countries globally. Rise in urbanization has led to growing constructional activities which thereby are leading to growth of waterproofing chemicals market. Growing population and increasing disposable income of people is another factor boosting high demand for constructional activities. People prefer luxury over simplicity. Luxurious houses provide a wide range of benefits such as fire and heat resistant walls, corrosion resistant metals, leakage proof roofs, etc. These benefits are achieved with the use if waterproofing chemicals as they have proved to be the best suitable requirement of the construction industry to deliver high quality finished product. Hence, the demand for waterproofing chemicals is on rise in the market and is anticipated to increase in the near future.
Fluctuating raw material prices and changing government policies are expected to hamper the growth of global waterproofing chemicals market. Transportation costs are another factor hindering the demand and growth of waterproofing chemicals in the market. However, huge opportunities are expected to fuel demand for waterproofing chemicals market due to the increasing demand from paints and coatings and the plastic industry.
Asia Pacific accounted for larger share of global waterproofing chemicals market in 2015. Growing construction activities in the developing economies such as Asia Pacific coupled with growing population is expected to fuel the growth of global waterproofing chemicals market. Moreover, changing lifestyle of people and rising disposable income are expected to drive the growth of building and construction industry. Growing building and construction industry, especially in developing countries like India and China is projected to augment demand for waterproofing chemicals in the market. Apart from the construction industry, other end-user industries such as paints and coatings, plastics, etc. are also expected to boost market demand for waterproofing chemicals due to high demand for plastic coating paints and waterproof plastic toys and materials in the market. Hence, waterproofing chemicals is projected to experience high demand for other regions such as North America, Latin America and Rest of the World during the forecast period. Europe is expected to experience sluggish growth due to the growing environmental concerns and regulations adopted in the region.
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