The global waterproofing chemicals market was valued at $3,652.5 million in 2015, and it is expected to grow at a CAGR of 6.6% during 2016-2022. The growth in the end-use market, favorable environmental regulation, and increasing compliance with international manufacturing standard are driving the growth of the waterproofing chemicals market. Asia-Pacific accounted for the largest share (39.2%) in the waterproofing chemicals market with an estimated $ 1,431.1 million value in 2015.
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It refers to a specific set of chemicals products that are used to protect the structural integrity of buildings from water seepages. Water seepage in the building structure can shorten the life span, leading to cause electrical, metal and health hazards. Waterproofing chemicals increases the shelf life of concrete structure and increases the durability of infrastructure when applied to the exterior of a building. Appropriate uses of waterproofing chemicals can reduce the maintenance cost of buildings.
Among the various applications, the building structures segment is expected to witness the fastest growth in terms of volume at 6.6% CAGR during 2016 – 2022 in the waterproofing chemicals market. Among the various types of waterproofing chemicals, the polymer segment is anticipated to witness the highest growth at 7.6% CAGR during 2016 -2022.
The major factors driving the demand of waterproofing chemicals include growth in the end-use market and favorable environmental regulation. Lack of government policies have been the matter of concern for the growth of the waterproofing chemicals sector. At global level, the governments are taking initiatives to fix the loopholes. The governments are focusing on the policy of “Zero Effect and Zero Defect” to establish their manufacturing and construction market, which is anticipated to contribute to the growth of the waterproofing chemicals market.
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The regulatory authorities are setting up stringent guideline sighting the increase in pollution level, and incentivizing energy efficient and green buildings. These norms are expected to drive the demand for suitable innovative and safe waterproofing chemicals. In developing countries, the governments are taking initiatives towards infrastructural and industrial development. The governments are focusing on providing basic infrastructure facilities to their citizens, such as concrete houses, access to proper roads and better irrigation network. Therefore, the new infrastructure projects are anticipated to fuel the demand for waterproofing chemicals during the forecast period.
Waterproofing Chemicals Market Competitive Landscape
Some of the major players operating in the waterproofing chemicals market include BASF SE, The Dow Chemical Company, Evonik Industries AG, Thermax Limited, Pidilite Industries Limited, Bostik Inc., Fosroc, Mitsubishi Chemical Holdings Corporation, Zeon Corporation, and Sika AG.
This post was originally published on Financial Sector