PUBLISHER: The Business Research Company | PRODUCT CODE: 1409890
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409890
“Waterproofing Chemicals Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on waterproofing chemicals market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for waterproofing chemicals? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The waterproofing chemicals market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Waterproofing chemicals encompass substances employed to render various surfaces and materials impervious to water, used in applications such as concrete, paints, paper packaging, electronics, and cosmetics.
Key products within waterproofing chemicals include bitumen, elastomers, PVC, TPO, and EPDM. Bitumen, a dark and viscous material such as tar or asphalt, is extensively applied to surfaces such as roads and roofs. The technologies utilized encompass preformed membranes, coatings, and liquid applied membrane systems (LAMS), integrated within roofing, wall systems, floorings, basements, waste and water management systems, tunnel liners, and other relevant applications.
The waterproofing chemicals market research report is one of a series of new reports from The Business Research Company that provides waterproofing chemicals market statistics, including the waterproofing chemicals industry global market size, regional shares, competitors with waterproofing chemicals market share, detailed waterproofing chemicals market segments, market trends, and opportunities, and any further data you may need to thrive in the waterproofing chemicals industry. This waterproofing chemical market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The waterproofing chemicals market size has grown rapidly in recent years. It will grow from $21.8 billion in 2023 to $24.15 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth observed in the historical period can be ascribed to several factors including the rapid expansion of urban areas, initiatives focusing on renewing infrastructure, increased recognition of the importance of structural preservation, extensive repair and maintenance undertakings, stricter adherence to building codes, and substantial development within the real estate sector.
The waterproofing chemicals market size is expected to see rapid growth in the next few years. It will grow to $35.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The anticipated growth in the upcoming period is likely due to various factors, such as the impact of climate change, the wider adoption of green roofs, increased demand for high-performance coatings, the need for resilience against floods, a preference for liquid waterproofing solutions, and a rise in do-it-yourself waterproofing activities. Furthermore, notable trends in this forecast period encompass advancements in formulation technologies, the use of polyurethane-based waterproofing materials, integration of smart building technologies, advancements in nanotechnology applications, and an expanding market scope in emerging economies.
The anticipated growth in building and construction expenditure is set to drive the expansion of the waterproofing chemicals market. The construction sector, encompassing activities related to creating, maintaining, and repairing infrastructures, experiences increased demand for waterproofing chemicals. These chemicals play a crucial role in creating a controlled environment, protecting structures and their contents. Notably, in June 2021, a report from Canada's national statistical agency highlighted a significant rise in building construction investment, increasing from $14,294 million in April 2019 to $19,273 million in April 2021. A similar trend was observed in the USA, where total construction spending increased by 16% since the onset of the pandemic. This surge in building and construction expenditure stands as a key driver for the growth of the waterproofing chemicals market.
The growth of the automotive industry is expected to be a significant contributor to the expansion of the waterproofing chemicals market. The automotive industry, involving various activities related to the design, development, production, marketing, selling, and maintenance of motor vehicles, relies on waterproofing chemicals to protect electronic components, wiring, and sensitive parts from water damage, thereby enhancing vehicle durability and reliability. As of May 2023, the European Automobile Manufacturers Association (ACEA) reported a global production of 85.4 million motor vehicles in 2022, representing a 5.7% increase compared to 2021. Similarly, in August 2021, according to MarkLines, U.S. new vehicle sales saw a 4.7% increase from July 2020, reaching 1,291,881 units in July 2021. The growing automotive industry stands out as a significant factor driving the growth of the waterproofing chemicals market.
Technological advancements stand out as a prominent trend gaining traction in the waterproofing chemicals market. Major companies within this market are actively engaged in the development of products that incorporate advanced technologies to maintain their competitive positions. An illustrative example is JSW Cement, an India-based cement company, which introduced its construction chemical range in June 2021. This range includes the Krysta Leakproof integral crystalline waterproofing compound featuring reactive crystalline technology. Designed for use in cementitious and concrete mortars in building projects, this capillary waterproofing substance employs a reactive crystalline technique to block concrete pores and spaces, creating an impermeable barrier to liquids. Notably, the compound's unique features contribute to safeguarding concrete and steel reinforcement in construction by permanently limiting water permeability, offering protection against both negative and positive side waterproofing.
Major players in the waterproofing chemicals market are directing their efforts towards the development of innovative waterproofing solutions, such as liquid waterproofing membranes, to meet the growing demand for effective waterproofing measures in the market. Liquid waterproofing membranes, applied in liquid form to surfaces such as roofs and walls, establish seamless and impermeable barriers against water penetration. An instance of this innovation comes from Kamdhenu Paints, an India-based paint manufacturer, which launched 'Kamo Damp Proof' in February 2023. This elastomeric liquid membrane, reinforced with synthetic fibers, forms a robust and seamless waterproofing layer on surfaces such as roofs and walls. This new product aligns with Kamdhenu Paints' commitment to delivering superior quality and value to consumers in response to the escalating demand for efficient waterproofing solutions.
In May 2022, Sika AG, a Swiss specialty chemicals company, successfully completed the acquisition of United Gilsonite Laboratories (UGL) for an undisclosed sum. This strategic move aligns seamlessly with Sika's focus on high-value systems for concrete and masonry waterproofing, contributing to the enhancement of its market presence. The acquisition is strategically aimed at capitalizing on the growing demand for efficient waterproofing solutions within the construction industry. United Gilsonite Laboratories (UGL), based in the United States, is recognized as a manufacturer of consumer and do-it-yourself (DIY) waterproofing products.
Major companies operating in the waterproofing chemicals market report are Pidilite Industries Limited, Bostik Inc., Choksey Chemicals Pvt. Ltd., Estop Pte. Ltd., ExxonMobil Chemicals Company, Johns Manville Corporation, Mapei S.P.A, Mitsubishi Chemical Holdings Corporation, Polygel Industries Pvt. Ltd., Sika AG, Soprema SAS, The Dow Chemical Company, Thermax Limited, Wacker Chemie AG, BASF SE, Henkel AG & Co. KGaA, Compagnie de Saint-Gobain S.A., GAF Materials Corporation, Firestone Building Products Company LLC, Tremco Incorporated, Kemper System America Inc., Carlisle Companies Inc., GCP Applied Technologies Inc., RPM International Inc., Fosroc International Limited, Chryso SAS, Derbigum Manufacturing (Pty) Ltd., Fosroc Inc., GAF Material Corp., Holcim Ltd., Koster American Corporation, Mapei SpA, W.R. Grace & Co
Asia-Pacific was the largest region in the waterproofing chemicals market in 2023. The regions covered in the waterproofing chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the waterproofing chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The waterproofing chemicals market consists of sales of hypalon, tar paper with asphalt and bituminous materials, and coated membranes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.