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. 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.
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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.
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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.
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.
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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
Waterproofing Chemicals Market - Technology
Analysis
- Sheet based Membrane
- Liquid Coated Membrane
- Cementitious Waterproofing
- Others (sprays, coatings etc.)
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