Major players in the waterproofing chemicals market are Pidilite Industries Limited, The Dow Chemical Company, Fosroc, Mitsubishi Chemical Holdings Corporation, Sika AG, Bostik Inc., Thermax Limited, Polygel Industries, ExxonMobil Chemicals, Choksey Chemicals Pvt. Ltd., Estop Group, Wacker Chemie AG, Mapei S.P.A, Soprema Group, and Johns Manville Corporation.
The global waterproofing chemicals market is expected to grow from $19.84 billion in 2022 to $21.92 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The waterproofing chemicals market is expected to grow to $31.99 billion in 2027 at a CAGR of 9.9%.
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.
Waterproofing chemicals refer to chemicals that are used to make a building or object waterproof, such as concrete, paints, paper packaging, electronics, and cosmetics.
Asia-Pacific was the largest region in the waterproofing chemicals market in 2022. The regions covered in the waterproofing chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of waterproofing chemicals are bitumen, elastomers, PVC, TPO, and EPDM.Bitumen refers to dark, gooey material, like tar or asphalt, that is applied to roads and roofs.
The technology involved are preformed membranes, coatings and lams (liquid applied membrane systems), integral systems that are used for roofing and walls, floors and basements, waste and water management, tunnel liners, and other applications.
An increasing building and construction expenditure is expected to propel the growth of the waterproofing chemicals market going forward.The construction sector refers to the sector of industry and trade that deals with creating, maintaining, and repairing infrastructures.
The growing construction industry with rising expenditure fuels need for waterproofing chemicals as they provide a controlled atmosphere and to safeguard the structure and contents.For instance, in June 2021, according to a report published by Canada’s national statistical agency, in Canada, the investment in building construction increased from $14,294 million in April 2019 to $19,273 million in April 2021.
Also, in the USA, total construction spending increased by 16% since the pandemic’s onset. Therefore, the increase in building and construction expenditure is driving the growth of the heating equipment market.
Technological developments are a key trend gaining popularity in the waterproofing chemicals market.Major companies operating in the waterproofing chemicals market are developing products with advanced technologies to sustain their position in the market.
For instance, in June 2021, JSW Cement, an India-based cement company, launched its construction chemical range, which includes Krysta Leakproof integral crystalline waterproofing compound with reactive crystalline technology.It is a capillary waterproofing substance used in cementitious and concrete mortars in building projects.
JSW blocks concrete pores and spaces by generating an impermeable barrier to liquids using a reactive crystalline technique.The compound’s unique features help in safeguarding concrete and steel reinforcement in construction by permanently limiting water permeability.
The substance enhances concrete’s stability by protecting against both negative and positive side waterproofing.
In September 2020, Lone Star, a US-based private equity firm, acquired BASF’s Construction Chemicals business for an undisclosed amount.With this acquisition, both companies anticipate working together to pursue a strategy for business growth.
BASF is a Germany-based chemical company that manufactures waterproofing chemicals.
The countries covered in the waterproofing chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The waterproofing chemicals market research report is one of a series of new reports 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.