CRI Report has released a report titled “Waterproofing Chemicals market – Analysis of Market Size, Share & Trends for 2020 – 2030 and Forecasts to 2030” which is anticipated to reach USD 78.57 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 11.20% between 2020 and 2030. According to the report, the market is estimated to proliferate owing to the increasing demand from a variety of end-use sectors, including as residential and commercial building construction, landfills, and tunnels. In addition, rising awareness of the necessity of waterproofing materials in building in emerging countries is expected to drive up demand.
The market report on the Waterproofing Chemicals market includes in-depth insights as:
- The estimated value of the market was USD 26.35 billion in the year 2020.
- Region-wise, the market in North America which held the largest market share in the year 2020, emerged as a key market for the Waterproofing Chemicals market.
- Based on Application, roofs and walls emerged as a key segment in the Waterproofing Chemicals market.
- Based on Product, Thermoplastic Polyolefin (TPO) segment emerged as a key segment in the Waterproofing Chemicals market.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“Residential building, bridge construction, road paving, and large-scale re-roofing works are all part of the high-risk construction sector, which covers everything from infrastructure development to renovation. The rise in construction activities is driving up demand for waterproofing chemicals in developing nations like China, India, and Japan.”, according to this report
A waterproofing chemical is a synthetic chemical that prevents water from penetrating and flowing through a building. Apart from electrical, metal and other structural risks, excessive water penetration in buildings can reduce their life span and cause unintended harm to the structure. It’s usually combined with a construction application or put to the outside of a foundation system. Waterproofing provides substantial benefits to a building or a substrate, such as cheaper construction maintenance costs, a more durable structure, and protection from harsh weather conditions. Waterproofing chemicals are commonly used to protect buildings from water seepage, which may shorten a structure’s lifespan and pose electrical, metal, and health risks. When applied to the exterior of a building, waterproofing chemicals assist to enhance the durability of infrastructure as well as the shelf life of concrete structures. Furthermore, these compounds can assist in the reduction of building maintenance costs.
Waterproofing Chemicals Market is segmented by Application into Roofing & walls, Floors & basements, Waste & water management, Tunnel liners, and Others. In 2019, the roofs and walls segment dominated the Waterproofing Chemicals, and this trend is expected to continue during the forecast period. For years, leakage in buildings, particularly roofs and walls, has been a serious problem across the world. Water ponding, or the stagnation of water caused by rain on roofs and walls, causes concrete components to deteriorate, resulting in a ruined roof, which might lead to the collapse of the entire structure. As a result, waterproofing chemicals are widely used in roofs and walls to minimize such dangers. Waterproofing chemicals provide a number of advantages, including improved fire and wind resistance, extremely high tensile strength, and waterproofing properties.
Key Players in the Market
- Some of the key players operating in the Waterproofing Chemicals market are Pidilite Industries Ltd, BASF, Polygel Industries, ExxonMobil Chemicals, Dow Chemical Company, E.I. DuPont De Nemours & Co, Mitsubishi Chemical Holdings Company, Toray Industries, Evonik Industries, Eastman Chemical Company, Choksey Chemicals Pvt Ltd, Trinseo Europe GmBH, Estop Group.
Get Valuable Insights into Waterproofing Chemicals Market
In the new report, CRI Report thrives to present an unbiased analysis of the Waterproofing Chemicals market that covers the historical demand data as well as the forecast figures for the period, i.e., 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by Product into Bitumen, Elastomers, PVC, TPO, EPDM. By System/Technology into Preformed Membrane, Coatings & LAMs, Integral Systems. By Application into Roofing & walls, Floors & basements, Waste & water management, Tunnel liners, Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.