Waterproofing chemicals are a specific set of products that protect the structural integrity of buildings from water penetration. Excess water penetration in buildings can shorten theirlife span, thus leading to electrical, metal and health hazards. Waterproofing chemicals increase the shelf life of concretes and offer durability to infrastructures when applied to the exterior of a foundation system. These functions lower the maintenance cost of buildings. Rise in construction cost and raw material are the driving factors for the waterproofing industry.
Polyurethane, elastomeric coatings, expanded polyethylene, polysulphide sealants, and acrylic polymer are some of the important waterproofing chemicals. These chemicals are available in liquid, solid, and slurry form. Waterproofing chemicals are further segmented into sheet membranes and liquid applied systems. The enduse segments are residential, commercial, and industrial infrastructure development.
With the construction chemical market contributing 9% of global GDP, waterproofing chemical market is set to accelerate itsgrowth in emerging economies including China and India.
With easy availability of raw material and major projects lined up for boosting infrastructure investment, asia pacific is the most profitable market for waterproofing industries. With 26% market share China has overtaken USA in terms of volume. China along with India and other important asia pacific region contributes to half of the global waterproofing market. Asia pacific will see a massive rise in infrastructure owing to China’s main focus on infrastructure under its 12th Five Year Plan and the ‘Make in India’ concept driven by the Indian government. With construction companies flourishing in India due to the rise in skyscrapers and malls, the waterproofing chemical market will gain substantial momentum in the near future. Malaysia is the next potential market for waterproofing chemicalsin the asia pacific region. Malaysian government has allocated US$ 23 billion to boost its infrastructure. These potential market will give steady momentum to waterproofing chemicals.
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Europe is the second largest market for waterproofing chemicals. It accounts for nearly one-fourth of the total market share by volume. Europe possesses monumental heritage buildings which need quality care. Also, being an industrialised region, Western Europe will be a profitable destination for waterproofing chemical industries.
North America is the third most profitable destination for chemical industries. This market stumbled after the 21st century economic crisis. Since then it has been witnessing a slow recovery in waterproofing industries. High rise skyscrapers and technological advancement will fuel the growth momentum of waterproofing industries in coming years in this region. Chemical industries and marine industries are the other major sectors which will escalate the demand for waterproofing chemicals.Analysing the profitable trend, this market is set to witness key mergers and acquisitions of small and medium-sized enterprises(SME) companies by big business enterprises.
Latin America is the third most profitable destination for waterproofing chemicals market. Being the next Olympic destination and a key member of BRICS, many new infrastructure investmentshave been lined up in Brazil. This will fuel growth inthe waterproofing chemical market. Though, Latin America will be a major destination for chemical industries in near future, CAGR growth will be moderate in comparison to the asia pacific and European markets.
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BASF, SIKA AG, Forsoc, and Pidlite are the major players in waterproofing chemicals segment.
With major companies investing 3% of their sales revenue in R&D, this market is set to flourish in emerging economies. The demand for eco-friendly chemicals is further accelerating the waterborne coatings market. Rising population in China and India are the other key drivers for this industry. With low cost and less sophisticated technologies,liquid applied membranes in the waterproofing chemical segment will witness a massive rise among developing economies. Low awareness levels, lack of skilled labour, and inconsistent export policies in some of the major emerging economies will be the major causes of concern among chemical industries.