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Waterstop Market
Waterstop market to Reach $4.6 Billion, Globally, by 2032 at 5.1% CAGR: Allied Market Research
A waterstop is a critical construction element designed to prevent the passage of water through joints in concrete structures.” - David CorreaPORTLAND, OR, UNITED STATES, November 22, 2024 /EINPresswire / -- Allied Market Research published a report, titled, "Waterstop Market by Product (PVC Waterstop, Rubber Waterstop, Metal Waterstop, And Others) by Application (Construction Joints, Pipe Penetration, Expansion Joints, Tunnels and Underground Structures, and Others) by End Use (Commercial, Residential, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global waterstop market was valued at $2.8 billion in 2022 and is projected to reach $ 4.6 billion by 2032, growing at a CAGR of 5.1% from 2023 to 2032.
Prime determinants of growth
The global Waterstop market has experienced growth due to several factors such as growth in awareness of the importance of water conservation and the need to prevent water leakage in structures contributes to the demand for effective waterstop solutions. This is particularly relevant in regions facing water scarcity or strict water management regulations. Moreover, increase in use of waterstop in infrastructure sector offer remunerative opportunities for the expansion of the waterstop market.
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Impact of the Russia-Ukraine War on the Waterstop Market
The impact of geopolitical events on the waterstop market can vary by region. Indirect effects such as changes in global economic conditions, trade dynamics, and political relationships can influence the overall market while the direct impact on regions not directly involved in the conflict may be limited.
On the other hand, if geopolitical events result in a heightened focus on infrastructure resilience, including water management and containment, there could be increased demand for waterstop solutions. This is anticipated to be driven by the need to strengthen existing structures and implement effective water containment measures.
The PVC waterstop segment is expected to grow faster throughout the forecast period
On the basis of product, the PVC waterstop segment held the highest market share in 2022, accounting for half of the global waterstop market revenue and is expected to retain its dominance throughout the forecast period. This can be attributed to the fact that Stringent environmental regulations and standards in many countries emphasize the importance of using waterproofing solutions such as PVC waterstops to prevent water leakage and protect the environment. Compliance with these regulations is crucial for environmental protection and safety. PVC waterstop materials have seen continuous improvement, making them more flexible, durable, and resistant to chemicals. These advancements contribute to the growth of the PVC waterstop market by providing more effective and long-lasting solutions. However, the metal waterstop segment is projected to manifest the highest CAGR of 5.1% from 2023 to 2032. This can be attributed to the fact that metal waterstops are often used in specialized applications, such as in high-impact areas or where chemical resistance is critical. These applications include industrial settings, power plants, and wastewater treatment facilities.
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The construction joints segment is expected to grow faster throughout the forecast period
On the basis of application, the construction joints segment held the highest market share in 2022, accounting for more than one-third of the global waterstop market revenue and is anticipated to retain its dominance throughout the forecast period. Technological advancements in waterstop materials, such as the development of high-performance polymers and composite materials, are expected to drive growth in the market. These innovations often offer improved resistance to water pressure, chemicals, and other environmental factors, making them attractive choices for construction projects. In addition, a growth in awareness of the importance of waterproofing in construction projects is projected to boost the adoption of waterstop solutions.
However, the pipe penetration segment is projected to manifest the highest CAGR of 5.0% from 2023 to 2032. This can be attributed to the fact that advanced polymers, composite materials, and improved manufacturing processes are expected to enhance the performance of waterstops in pipes, attracting interest from industry. Adherence to environmental regulations and building codes often requires the implementation of effective waterstop systems in pipe construction. The emphasis on leak prevention and environmental protection can drive the adoption of high-quality waterstops.
The residential segment is expected to grow faster throughout the forecast period
On the basis of end use, the residential segment held the highest market share in 2022, accounting for less than half of the global waterstop market revenue and is expected to retain its dominance throughout the forecast period. Homeowners and builders are more inclined to invest in quality waterproofing solutions, including waterstops with increased awareness of the importance of protecting structures from water damage. Climate change can lead to more frequent and intense weather events, including heavy rainfall and flooding. In regions prone to such events, there is a heightened awareness of the need for robust water management systems in residential buildings. Building codes and regulations evolve to include stricter requirements for water management in construction projects.
However, the commercial segment is projected to manifest the highest CAGR of 5.1% from 2023 to 2032. This can be attributed to the fact that, water infiltration poses significant financial and operational risks in commercial buildings. Waterstops are viewed as essential risk mitigation measures, preventing potential damage that could lead to costly repairs, business disruptions, and damage to valuable assets. Aging commercial structures undergo maintenance or retrofitting projects to enhance their performance and extend their lifespan. Waterstops are often integrated into these projects to address waterproofing issues and ensure the continued integrity of the building.
Asia-Pacific to maintain its dominance by 2032
On the basis of region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly half of the global waterstop market revenue and is expected to rule the market in terms of revenue throughout the forecast timeframe China experiences diverse climate conditions, from heavy rainfall to snowfall, making waterproofing solutions essential for maintaining the integrity of structures. Innovations in waterstop materials and technologies contribute to the growth of the market by providing more effective and long-lasting solutions. Japan invests in maintenance and rehabilitation projects, often involving the replacement of waterstops to enhance waterproofing as an aging infrastructure. Strong emphasis of Japan on environmental protection and sustainability contributes to the use of waterstops in waterproofing solutions. Industrial growth and the construction of industrial facilities of India require waterproofing to protect against water damage and corrosion.
Leading Market Players: -
Trelleborg Ridderkerk BV
Henry Company, LLC
Metro Rubber Corporation
Kantaflex (India) Private Ltd.
W. R. Meadows, Inc.
CE construction solution
Bo Metals, Inc.
Foshan NanhaiFufujing Plastic and Hardware Company Limited
MCT Group Of Companies
Mapei Construction Products India Pvt. Ltd.
The report provides a detailed analysis of these key players in the global waterstop market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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