The global
waterproofing chemicals market features a highly consolidated
competitive landscape, with the top five companies accounting for
over 85% of the overall market in 2015, observes Transparency Market
Research in a recent report. These five companies, namely BASF SE,
The Dow Chemical Company, E.I. du Pont de Nemours and Company, Evonik
Industries, and Sika AG hold strong market positions owing to their
wide geographical presence and product portfolios that span across a
vast range of industrial applications.
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Market-oriented research and developments and increased focus on
emerging markets such as Asia Pacific and Middle East and Africa are
expected to bolster growth prospects of potential competitors in the
near future.
TMR estimates that in terms of revenue, the market was valued at
U.S$7,948.4 mn in 2015 and will reach U.S$12,335.2 mn by 2024,
expanding at a healthy CAGR of 5.1% between 2016 and 2024. In terms
of end-use, the construction and infrastructure sectors cumulatively
held more than 70% of the waterproofing chemicals business. These
segments are also expected to retain their positions as the leading
consumers of waterproofing chemicals over the forecast period.
Geographically, the market for waterproofing chemicals in Asia
Pacific is presently the leading regional market and is expected to
remain the dominant regional market over the forecast period as well.
Healthy
Demand across Construction Sector to Help Market Gain Momentum
Sustainable demand across the global construction industry is pivotal
to the overall development of the global waterproofing chemicals
market as the former provides the market more than 60% of its
business. In the past few years, the rising demand for a variety of
waterproofing chemicals in the ever-expanding construction industry,
for purposes such as the protection of buildings and structures from
leakage and seepage caused by water and moisture, has been key to
market growth. The demand for these chemicals has remained strong
from new construction projects as well as projects managing
refurbishment of existing buildings.
The public infrastructure space, including structures such as
bridges, tunnels, pavements, roadways, and public utility centers,
has also been key to the healthy demand for waterproofing chemicals
in the global market. Extensive investments and the rising
implementation of development programs in this field across regions
such as Asia Pacific and Africa are expected to fuel the demand for
waterproofing chemicals in the next few years.
Low
Product Awareness among Consumers could Hinder Market Growth
Waterproofing chemicals are still largely considered a niche product
in the construction chemicals segment. This is because of the
understanding of the specific use of these chemicals in high-end
applications, which is mostly limited to industry experts. The high
base cost of these chemicals, in addition to the substantial costs
incurred for labor have also been key restraints in terms of product
acceptance and use in general consumer markets. As a result,
waterproofing chemicals are mostly used in upscale construction
segments.
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Waterproofing chemicals have a limited footprint in the global
market, with a share of less than 20% of the overall construction
chemicals market due to thier limited use in residential building
segment as well as low product marketing and promotions. These
factors are projected to have a sizeable negative impact on the
overall development of the market in the next few years.
This review of the market is based on a recent market research report
published by Transparency Market Research, titled “Waterproofing
Chemicals Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024.”
For
the study, the global waterproofing chemicals market has been
segmented as follows:
Waterproofing
Chemicals Market - Product Analysis
- Bitumen
- PVC
- EPDM
- TPO
- PTFE
- Silicone
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