The construction chemicals market is majorly driven by the growing end-user industries such as building and construction industry. The major factors driving the growth of construction industry are urbanization and industrialization. Swift developments in the developing economies such as Asia Pacific, especially in India and China has led to increased use of advanced products in the construction sector. Therefore, high quality materials such as waterproofing chemicals are used on a large scale in the construction industry, thereby, boosting growth for global waterproofing chemicals market worldwide.
Waterproofing chemicals are categorized into two segments such as bitumen and polymers. Bitumen is an organic sticky, viscous and waterproof compound which is used as waterproofing material for roofs. Polymers also serve the same function as bitumen but these are synthetic chemicals which include PVC, TPO, etc. Bitumen holds a larger share of global waterproofing chemicals market due to its organic property. Hence, the major application of waterproofing chemicals market is roofing followed by buildings as repair and maintenance is high in these sectors. Other applications such as tunnels, walls, landfills are also expected to fuel demand for waterproofing chemicals market in the near future. With the advent of technology, paints and coatings and plastic industry has come up with advanced waterproof materials in the market. Hence, high opportunities from paints and coatings and plastic industry are expected to boost market demand for waterproofing chemicals in the market.
Waterproofing chemicals market was valued at US$ 6,351.7 Mn in 2015 and is expected to reach US$ 10,468.8 Mn by 2023, growing at a CAGR of 7.4% during the forecast period 2016-2023.
Purpose of the Report
The purpose of this strategic research study titled “Global Waterproofing Chemicals Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global rapeseed oil market.
Target Audience
USP and Key Offerings
The report titled “Global Waterproofing Chemicals Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” offers strategic insights into the global waterproofing chemicals market along with the market size and estimates for the duration 2015 to 2023. The said research study covers in-depth analysis of multiple market segments based on product types and end-user applications, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading waterproofing chemical vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global waterproofing chemicals market, of growth, offering market size and estimates for the period from 2015 to 2023, keeping in mind the above mentioned factors.
Product Segmentation Analysis
Waterproofing chemicals are the major chemicals of the construction industry. Bitumen was the leading product type of global waterproofing chemicals market in 2015. Due to its organic property and the benefits provided by it such as water resistance and durability has led to high demand from the global market. Bitumen is used on a large scale in the construction industry for roofing application. Bitumen is applied as a layer on the roofs of residential and commercial buildings to prevent leakage. Polymers are other waterproofing chemicals which functions the same as bitumen but are used for other applications such as walls, buildings, tunnels, landfills etc. These are polymers such as PVC, EPDM, TPO, etc are also used by paints and coatings industry to manufacture innovative products such as acrylic paints which are water resistant. High opportunity is expected from the plastic industry to manufacture toys and materials which will be waterproof so that one can use it with great ease. These factors are expected to boost demand for waterproofing chemicals during the forecast period from 2016 to 2023. Therefore, these waterproofing chemicals are the building blocks of building and construction industry globally and are anticipated to create high opportunities for various industries such as plastic, paints and coatings, etc in the near future.
Application Segmentation Analysis
Waterproofing chemicals have gained high importance in the market due to the increasing cost of construction and rising cost of raw materials in the market. Waterproofing chemicals have been used on a large scale in the construction sector for quality building practices. Concrete, till now has been a cost effective building material. A durable and effective concrete reduced the risk of leakage, excess water use, etc. But when the concrete used is of low quality, waterproofing chemicals are used to increase its durability. An effective waterproofing system increases the shelf life of concrete which thereby reduces the maintenance cost.
Water leakage may lead to damages such as electric hazards, metal corrosion, rotting of timber structures, swelling of plastic boards, etc. To avoid such problems, waterproofing chemicals are applied on walls, roofing and also used for tunnels, landfills and buildings. Among the mentioned applications, roofing accounted for the major share of the global waterproofing market in terms of revenue. Building accounted to be the second largest application of waterproofing chemicals in 2015 and is expected to experience high growth in the near future. With the advent of technology and growing construction activities, waterproofing chemicals have experienced high demand from various regions worldwide. Asia Pacific is anticipated to be the fastest and largest growing market for waterproofing chemicals due to high demand from the constructional sector in the region during the forecast period from 2016 to 2023.
Geography Segmentation Analysis
The largest and fastest growing region was reported to be Asia Pacific in 2015. The growing population and increasing constructional activities on the region has led to high demand for waterproofing chemicals in the region. Asia Pacific accounted for more than 35% share of global waterproofing chemicals market in 2015 and is expected to retain its competitive position in the near future. The rising cost of construction and raw materials is driving the growth of global waterproofing chemicals market. These chemicals are widely used for industrial, commercial and residential construction projects as they are employed in repair and maintenance of industrial grouts, residential flooring, tiles, storage tanks, etc. China and India are expected to be the leading countries in terms of demand for waterproofing chemicals. Asia Pacific is followed by Europe in terms of demand for waterproofing chemicals. The region is projected to experience lethargic growth due to the regulations adopted by the region. North America is expected to experience steady growth during the forecast period from 2016 to 2023. Latin America and Rest of the World are also anticipated to boost demand for waterproofing chemicals in the market.
Hismation: Waterproofing Chemicals
Any material which is resistant to water is called water resistant or water proof objects. Waterproofing has its existence since the older trades besides masonry and carpentry. This has begun with the dire need of people for protecting their shelters against elements of nature. The people from the Neolithic revolution from 10,000 BC had understood the importance of water transportation. Therefore, they sealed their boats with bitumen emulsions to make sure the boats were water resistant. Another instance which states the use of waterproofing chemicals was the pyramids of Egypt. The Nile River flooded every year and the pyramids were completely covered with water yet the tombs were always dry due to the layers of bitumen applied on them.
In the early days, waterproofing solutions were made with natural materials. The agrarian revolution evolved and formed their villages. Therefore, these people found out alternative to protect their grain from moisture. The people then constructed waterproof solutions out of locally available plant such as bamboo, timber, reeds, etc. The material constructed out of these natural materials was known as cribs. These cribs then protected the grains from moisture.
With rising technology and developments, Charles Macintosh in the year 1823 invented a waterproof jacket by making a sandwich layer of rubber in between the textured fabrics. But this did not satisfy the purpose of manufacturing it. Improved version of this jacket was then coined to be known as raincoat. With time the chemical industry introduced the market with wax. Hence, many petroleum and mineral based wax were introduced.
In recent times, efficient waterproofing has become very vital. The places which record heavy rainfall such as Chennai, Mumbai, and Cherrapunji in India lead to water logged streets on heavy rainfall. Waterproofing measures should therefore be taken in these areas during the construction of residential and commercial buildings. This will maintain the level of internal humidity and help protect the objects placed inside. The types of waterproofing chemicals used include bitumen such as APP bitumen & SBS bitumen and polymers which include TPO, PVC, EPDM, etc. Both the bitumen and polymers are used on a large scale several construction and other industries worldwide.
The methods of waterproofing have gradually taken a shift as compared to the traditional methods such as lime terracing, polyurethane waterproofing, sheet wrapping etc. The conventional methods of waterproofing adopted by the construction sector now include application of layers of bitumen, PVC (Polyvinyl Chloride), silicate, HDPE (High-density Polyethylene), etc. The above stated compounds have the tendency to react with moisture in concrete and chemicals thereby forming insoluble crystals and seal the pores and cracks. These waterproofing chemicals are used on a large scale for various applications which include roofing, walls, buildings, tunnels, landfills, etc. Layer of waterproofing chemicals is applied during the construction phase to avoid leakage problems. The major factor promoting the growth of waterproofing chemicals is benefits that these chemicals provide such as integrity of the building, humidity balance and protection against harsh climatic conditions. Waterproofing chemicals are expected to experience high demand in the coming years for a number of applications in the global market.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Waterproofing Chemicals market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
