(MENAFN- America News Hour)In a recent published report, Kenneth Research has updated the market report for Waterproofing Chemicals Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Waterproofing Chemicals Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
The Waterproofing Chemicals Market is predicted to grow with a robust CAGR during the forecast period. Some of the significant factors that are anticipated to drive the market are the growing investments from the multinational companies in several nations worldwide to develop production facilities that can promote the production growth, backed by the rising need for chemicals from several end-user industries for different end-use purposes. According to the statistical report titled ''Global Chemicals Outlook II'', published by the United Nations Environment Programme, the global chemical industry's production capacity almost doubled to reach 2.3 billion tonnes in the year 2017 from 1.2 billion tonnes in the year 2000. Moreover, increasing spending on research and innovation (R & I) for the development of advanced chemicals is also anticipated to drive the growth of the market over the forecast period.
Product Overview
Waterproofing chemical is a synthetic chemical product that shields the structure from water penetration and percolation. The excess water penetration in buildings can reduce their lifespan and may cause damage to the structure, apart from electrical, metal and other structural hazards. It is generally applied to the peripheral of a foundation structure or mixed with a construction application. Application of waterproofing imparts substantial advantages to the building which include lower maintenance cost of buildings and protection from extreme climatic conditions. Some of the important waterproofing chemicals include Polyurethane, acrylic polymer, elastomeric coatings, expanded polyethylene and polysulphide sealants. These chemicals are available in liquid, solid, and semi-liquid form.
Market Size and Forecast
Waterproofing chemicals market is anticipated to witness a CAGR around 9% during 2017-2027. It is anticipated to reach around USD 46 Billion by 2027 from USD 19 Billion in 2017. Rising demand for waterproofing chemicals for construction activities in developing economies and growing use in application such as roofing and walls are the main factors driving the market.
The global waterproofing market is segmented on the basis of type, application, and end-use. The market is segmented on the basis of application, the roofing and walls segment dominated the waterproofing chemicals market with the maximum share in 2016. Waterproofing synthetic compounds have been adequately utilized for a long time in the business and private building industry for applications, for example, material and dividers and floors and storm cellar. Rising development in the construction industry in the developing economies, the market of waterproofing chemicals is further anticipated to escalate during period 2017-2027.
By region, global waterproofing market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia-Pacific nations are foreseen to be the most lucrative market for waterproofing enterprises. The variables, for example, simple accessibility of crude material and foundation speculation are the primary purposes behind nations to lead the market. With over 27% market share China has overtaken U.S in terms of market size. China alongside with India contributes to half of the global waterproofing market. Asia-Pacific will see a massive rise in infrastructure on the account of China's policy on infrastructure development under its 12th Five Year Plan and the ''Make in India'' a Swadeshi movement started by the Indian government in 2014.
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In 2016 Europe was accounted for a considerable market share of around 18% in waterproofing chemicals market. Germany is the leading market in this region dominating the regional market on account of increasing demand from the roofing walls and basement application.
Market Segmentation
Our in-depth analysis segmented the global waterproofing chemicals market in the following segments:
By Type
Bitumen
PVC
TPO
EPDM
By Application
Roofing and Walls
Flooring
Basement
Tunneling
By End-Use
Residential
Commercial
Industrial infrastructure development
By Region
Global waterproofing chemicals market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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Growth Drivers and Challenges
Increasing consciousness among various end-users concerning cost-effective waterproofing chemicals combined with developing construction industry is driving market growth. The other factor such as increasing spending on infrastructural development, rapid industrialization and increasing public infrastructural places is supposed to foster market growth. Moreover, increasing demand for environment-friendly waterproofing chemical is expected to offer the new opportunity for key players in global waterproofing chemicals market. In addition, the increasing cost of raw materials and an increase in the income of labor will further augment the waterproofing chemicals market. On the infrastructure front, on the account of the growing demand, there is a huge increase in the construction of public infrastructure spaces such as tunnels, bridges, roads, etc. and this is anticipated to further foster the market of waterproofing chemicals.
The various restraining factor such as low awareness levels, lack of skilled labor, and inconsistent export policies in some of the major emerging economies will be the major causes of concern among chemical industries.
Key Players
Sika AG
BASF SE
Dow DuPont
Wacker Chemie AG
RPM International Inc.
Pidilite Industries Ltd.
Mapei S.p.A
Carlisle Companies Inc.
Fosroc
Drizoro S.A.U.
Conpro Chemicals Pvt. Ltd
Soprema Inc.
About Kenneth Research
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James Bullock
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