Waterproofing Chemicals Market 2023 | Detailed Overview of The Market with Current And Future Industry Challenges And Opportunities
Waterproofing Chemicals Market information by Type (bitumen, PVC, TPO, EPDM, and others), by Application (roofing, walls, flooring, basement, tunneling, and others), and by Region (Asia Pacific, Europe, North America, Latin America, and Middle East &Africa,) – Forecast till 2023
Pune, India – September 24, 2019 /MarketersMedia/ —
Inside the Global Waterproofing Chemicals Market, A Deep-diving study Report by MRFR for 2018-2023
The global waterproofing chemicals market has been surging continuously over the past few years, mainly due to the rapidly growing construction industry. Besides, rising reconstruction and building upgrade activities led by improving economic conditions & urbanization, accelerate the growth in the market. Moreover, surging demand for waterproofing chemicals for roofing and walls applications in the rapidly increasing end-use industries are providing thrust to the market on the global platform.
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Resultantly, waterproofing chemicals is enjoying a high demand & its market enjoys excellent traction worldwide. According to Market Research Future (MRFR), the global waterproofing chemicals market is expected to reach a valuation of over USD 32,915.00 MN by the end of 2023. In its recently published analysis, MRFR also asserts that the market would register a CAGR over 9.86% throughout the forecast period (2018-2023).
Growth in construction activities is a primary factor driving the growth of the market. Additionally, factors such as augmented demand from the growing middle-income groups and the augmenting market demand drive the growth of the market. Moreover, increasing construction & infrastructure development activities globally are providing impetus to the market growth to an extent. These same trends would foster market growth over the assessment period as well.
On the other hand, stringent regulations imposed on the harmful chemicals emitting during the production of these chemicals led by the growing environmental concerns are impeding the growth of the market. Also, fluctuating prices of one of the essential raw material – crude oil, pose challenges to market growth. Nevertheless, the landfill and water management sector would support the growth of the market, creating a sufficient market demand for the application of waterproofing chemicals in the near future.
Waterproofing Chemicals Market – Segmentation:
The report is segmented into three market dynamics to widen the scope of understanding,
By Type: Bitumen, PVC, TPO, and EPDM, among others.
By Application: Roofing, Walls, Flooring, Basement, and Tunnelling, among others.
By Regions: Europe, North America, APAC, and the Rest-of-the-World (RoW).
Waterproofing Chemicals Market – Regional Analysis
The Asia Pacific region leads the global waterproofing chemicals market with the largest market share. The considerable growth in major end-user industries in the region is a growth driver for the regional market. Furthermore, raw material advantage, cost-competitive labor force, and moderate regulatory framework are contributing to the growth of the regional market. Also, augmenting demand from the burgeoning construction industry in India and China is fostering the growth of the APAC waterproofing chemicals market.
North America accounts for the second-largest market in the global waterproofing chemicals market. Factors such as the strong base for various industries and rising investments in the field of R&D drive the regional market growth. Rapid industrialization and growth in construction activities are creating colossal market demand. The US, backed by the growing demand from surging reconstruction activities in the country, accounts for the largest market in the region. North American waterproofing chemicals market is estimated to reach USD 7,201.60 MN by 2023.
Europe is a substantial market in the global waterproofing chemicals market. The region accounted for around 17% of the market share in 2016. European countries such as Germany and the UK are prominent consumer markets for these chemicals. Rising expenditure on innovation and growing purchasing power of consumers support the market growth. Additionally, the presence of major manufacturers, especially, in Germany will be providing impetus to the regional market growth.
Global Waterproofing Chemicals Market – Competitive Analysis
Highly competitive, the waterproofing chemicals market appears to be fragmented due to the presence of several large and small-scale players. These players incorporate strategic approaches such as mergers & acquisitions, collaboration, expansion, and technology launch to gain a substantially larger competitive advantage in this market.
They invest heavily in R&D to develop a product that is on a different level entirely, compared to their competition. Manufacturers try to deliver the best quality, reliable, and consistent, pure, high-quality products based on innovative technologies. They also develop the ability to tailor products as per requested specifications such as customized/bulk packaging, and special requirements.
Major Players:
Players driving the global waterproofing chemicals market include BASF SE (Germany), Sika AG (Switzerland), DowDuPont (the US), RPM International Inc. (the US), Wacker Chemie AG (Germany), Pidilite Industries Ltd. (India), Carlisle Companies Inc. (the US), Mapei S.p.A (Italy), Fosroc (UK), Conpro Chemicals Pvt. Ltd (India), Drizoro S.A.U. (Spain), and Soprema Inc. (the US), among others.
Industry/ Innovation /Related News:
May 23, 2019 — Sika AG (Switzerland), a specialty chemical company for building and motor vehicle supplies, announced the completion of its acquisition of Parex USA Inc, a leading manufacturer, and supplier of building materials. Parex product range includes waterproofing, tile adhesives, facade mortars, and technical mortars. Parex acquisition would further expand its footprints in the building finishing market, strengthening its position as a world leader in construction chemicals.
Post to the acquisition of Romanian market leader in waterproofing systems – Arcon Membrane SRL, in December last years, Sika’s position in the roofing and waterproofing markets had strengthened significantly. In addition to the product portfolio to meet the increasing market demand for complete waterproofing solutions, this particular acquisition also marked Sika’s expansion in bituminous membranes. The purchase was following several acquisitions in recent years such as Index in Italy, KVK in the Czech Republic, and Bitbau Dörr in Austria.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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