Global Waterproofing Chemical Market - 2021-2028
Global Waterproofing Chemical Market Overview
The global waterproofing chemical market size was worth US$ XX billion in 2020 and is estimated to show extraordinary growth by reaching up to US$ XX billion by 2028, at a CAGR of XX% during the forecast period (2021-2028).
Waterproofing is a process that protects products or resources from the impact of water while also providing a chemical and corrosion barrier. Waterproofing chemicals combine various chemical compounds used to make a product more resistant to leakage and longer-lasting. These chemicals are used in cement, plastics, colors, inks, and other materials as additives and admixtures. Polyethylene, polysulfide sealants, polyurethanes, elastomeric coatings, and acrylic polymer are some of the most commonly used waterproofing chemicals available in the market. Waterproofing chemicals are used in various applications, including membranes, coatings, and integral systems.
Waterproofing Chemical Dynamics
Improving awareness regarding the importance of waterproofing products in construction industries in developing regions is anticipated to boost waterproofing chemicals' demand in the forecast period. The rising demand for waterproofing chemicals in textile, construction, and others are increasing the product's market in recent times.
Improving awareness regarding the importance of waterproofing products in construction industries in developing regions is anticipated to boost waterproofing chemicals' demand in the forecast period.
As per recent studies, nearly $11.4 trillion was spent on the construction industry in 2018 worldwide. Soley in the U.S, 1.3 trillion of investment was made by the U.S construction industry in 2019. Thus these growing numbers of construction industries are more likely to build waterproofing chemicals in the forecast period. Due to periodic climatic changes, cement-based structures undergo significant damping and deterioration, reducing residential and commercial structures' shelf life. This necessitates the use of waterproofing chemicals since they prolong the life of the structure.
Furthermore, increasing infrastructure development in the Asia Pacific, especially in India, China, and Indonesia, and increased awareness of the importance of long-lasting construction materials, are expected to drive demand for waterproofing chemicals. Furthermore, Government programs for clean groundwater and landfilling in countries like the United Kingdom, France, Germany, India, the United States, and China have had a huge effect on business growth. The demand for waterproofing chemical composites with improved self-adhesion and durability is expected to expand rapidly in the future.
The rising demand for waterproofing chemicals in different industries such as textile, construction, and others are proliferating the product's market in recent times.
Waterproofing is a technique for making a structure or object water-resistant not to be damaged by water. This is achieved with the help of waterproofing chemicals. Concrete, paints, paper packaging, electronics, cosmetics, and other materials are waterproofed with these chemicals. Waterproofing chemicals are important in constructing buildings because they provide insulation that keeps the environment controlled. Water penetration must be minimal, and foundations, roofs, and other areas can be waterproof. Various materials and chemicals used for waterproofing include ethylene propylene diene monomer (EPDM) rubber, polyvinyl chloride, Hypalon, tar paper with asphalt and bituminous materials.
Waterproofing chemicals are also in great demand in the textile industry. There are only a few garments and tents that are specifically built to provide better water safety. Jackets, raincoats, and hiking clothing are examples of protective textiles. The water resistance of these garments is well-known. The waterproof fabric has a water repellent covering that prevents water from entering the garment because the seams are sealed instead of water-resistant clothing. Waterproof textiles are wind resistant due to the purpose of their use in harsh weather conditions. Coated Membranes made from polyurethane and Teflon are known to prevent liquid water from passing through the fabric.
Furthermore, waterproofing chemicals are used in several products, including cosmetics, paper wrapping, and so on. Electronics can now be waterproofed due to technical advances. Unlike conventional waterproofing capsules or cases, the latest technology is based on nanotechnology. Thus ongoing demand for waterproofing chemicals in different industries is uplifting the product's demand in recent times.
Rapid technological developments in waterproofing industries have uplifted the product's global market. Key players are now more focused on bringing the most advanced product to target a larger audience.
The building industry saw technological advancements in waterproofing materials from the late 1990s to the 2010s, including integral waterproofing systems and more sophisticated membrane materials. Over the past few years, there have been technological advancements in waterproofing products and systems; manufacturers are introducing new, long-lasting and eco-friendly products in the market, keeping the environment, safety, and health points of paramount considerations in view. The arrival of nanotechnology in the market has increased the demand for the product in various applications. Many nanotech solutions have found their way into daily life, with ceramic coating for waterproofing being one of the most notable. A nano coating's surface layer is hydrophobic (water repellent) and oleophobic (oil repellent), repelling water, oil, dirt, and other dry particles. In dry surface applications, superhydrophobic coatings are used. These naturally occur in some plant leaves, such as the lotus leaf and some insect wings.
Nano coating is a hydrophobic (water repellent), oleophobic (oil repellent) surface layer that repels water, oil, dirt, and other dry particles. An eco-friendly nano-coating with high hydrophobicity can be added to objects to make them waterproof for the long term. The substance is anti-corrosive and oxidation resistant, anti-icing, UV resistant, high temperature resistant, and chemical compound resistant. Besides, it has self-cleaning capabilities when it rains and can be used on a variety of surfaces. Nanocoatings do not change the color of the surface to which they are applied. They are invisible to the naked eye. Thus, the adoption of nanotechnology by various key players in different applications is expected to create immense opportunities for the waterproofing chemical market in the forecast period.
COVID-19 Impact Analysis
The construction industry holds a market share of $11.4 trillion worldwide, with residential construction accounting for most of it. The advent of COVID-19 has caused chaos in the residential construction industry. Not only has the current pandemic raised a variety of problems for the construction industry, but it has also thrown the global economy into disarray. The existence and severity of these problems will be largely determined by the global crisis, the length of the recession, and the course of recovery. Before the pandemic, the construction industry employed about 7.7% of the global workforce,,10 with projections for 2020 indicating that it will contribute to 13.4 percent of global GDP. However, in the context of the current crisis, falling revenue and increasing project delivery challenges have led to the sector's contraction in most markets,12 with a corresponding negative impact on the labor force. Also, the pandemic and its disruption of global supply chains have increasingly affected construction activities, with shortages of raw materials and other inputs, contractors and subcontractors, and workers. Thus, waterproofing chemicals build a maximum of its market share from construction industries. The severe impact of COVID-19 on construction and other end-users of the product is more likely to hamper the waterproofing chemicals' growth in the 2020-2021 period.
Waterproofing Chemical Market Segment Analysis
The global waterproofing chemical market is segmented based on product, technology, application, end-user and region.
Polymers have a range of consumer applications due to their ease of installation, seamless finish, weather and UV resistance, wear resistance, longevity, and resistance to battery acid, fuels, and alkaline cleaners, thereby is the fastest-growing segment of the waterproofing chemicals industry
In terms of product, the global waterproofing chemical market is bifurcated into polymer, bitumen and others. Out of the mentioned product types, the polymer segment is more likely to build a bigger market than other segments. Waterproofing systems shield structures from water infiltration, ensuring long-term structural resilience, surface health, mold and mildew prevention due to dampness, and eventually occupant comfort in buildings. Polyurethane polymer membranes are a type of liquid waterproofing solution made from polyurethane resins that are long-lasting. Roofs, parking decks, wet areas, decorative waterproofing, pedestrian decks, and water tanks are among the applications that are driving the market. The products have a range of consumer applications due to their ease of installation, seamless finish, weather and UV resistance, wear resistance, longevity, and resistance to battery acid, fuels, and alkaline cleaners.
For instance, in January 2020, BASF launches MasterSeal 730 UVS, an advanced waterproofing membrane that expands BASF's flexible waterproofing portfolio under the Master Builders Solutions brand in Asia. MasterSeal 730 UVS is a pre-applied waterproofing membrane made of high-density polyethylene (HDPE) sheets that have been treated with a special pressure-sensitive adhesive and protective coating that allows for strong adhesion to concrete surfaces without the use of a protective screen.
Waterproofing Chemicals Market Geographical Analysis
The Asia Pacific area is projected to rise significantly over the forecast period, owing to growing infrastructure spending and the rising disposable income of the average customer.
Since the past few years, Asia Pacific has had the largest regional waterproofing chemicals market due to the region's increasing construction sector due to rapid industrialization and economic development. The Asia Pacific area is projected to rise significantly over the forecast period, owing to growing infrastructure spending and the rising disposable income of the average customer. China is among the global market builders in waterproofing products due to the country's huge infrastructure and residential growth. Furthermore, India is among the leading economies of the world, particularly in the construction sector. The government is taking different initiatives to ensure the country's time-bound creation of excellent infrastructure, thereby uplifting waterproof chemicals' demand in the Asia-Pacific region.
Waterproofing Chemicals Market Competitive Landscape
The waterproofing chemicals market is highly competitive and consolidated with the presence of local and global companies. Some of the key players contributing to the market's growth include The Dow Chemical Company, BASF, Arkema SA, Fosroc International Limited, Pidilite Industries, Ashland Global, RPM International Inc, CICO Technologies, Synergies, Cangzhou Jiansheng Building Waterproof Material and among others.
The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to the global touch sensor market. Product lunch is the prime growth strategy adopted by various waterproofing chemicals manufacturers.
The Dow Chemical Company
Overview: Dow Chemical is an American multinational chemical company headquartered in the US. with the subsidiary of Dow Inc. The company is among the three largest chemical produces in the globe. The Company's mission is to become the most creative, customer-centric, inclusive, and sustainable materials science company globally, to deliver a sustainable future through our materials science expertise and partnership with other organizations. Dow is currently operating in 106 manufacturing sites in 31 countries and employs approximately 35,700 people.
The global waterproofing chemicals market report would provide approximately 69 market data tables, 65 figures, and 264 pages.
Target Audience 2022
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