Waterproofing chemicals are used in the construction sector, and are mainly used in protecting buildings from leakage that is caused due to ingress of water and moisture. As the pace of industrialization and urbanization is witnessing an impressive growth all over the world, there is a demand for construction sectors and building resulting in high growth in the waterproofing chemical industry. However, the industry is contributing positive development towards the waterproofing chemical market.
Previously in 2018, the global waterproofing chemical market size was valued at USD xx billion and expected to witness a growth at USD xx billion by 2025, with a CAGR of XX% during the forecast period.
Discussing on the official governmental report, earlier built cement concrete bridge structures get weak and pose of threat of collapsing and this can disturb the movement of traffic seriously impact and financial status of the local society. Leakage and seepage of water or deicing salt solution into even the slightly permeable deck concrete surface result into corrosion of reinforcing steel which result into spalling, cracking and loss of section of structure. This problem can be solved to great extent if concrete surface is protected against ingress of moisture and salts. In other words, if a protection layer is introduced over the bridge deck concrete surface in form of a dependable water proofing system.
The latest trend in the waterproofing chemical market is increasing demand for waterproof electronics. Due to advance technology waterproof phones, tablets, watches, cameras, and speakers are being available in the market.
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Mineral waterproofing materials are majorly prepared with a base of cement, mineral binding agents, and clay. These materials are used in anti-seepage protection for painted and plastered coatings for large scale waterproof structural components such as aluminous cement joints, water-repellent fills, and gyration.
Waterproofing chemical material product outlook segmentation includes Bitumen, TPO, PVC, Elastomers, Polymers, and others. Based on Application, segmentation includes Roofing & Walls, Floors & Basements, Waste & Water Management, Liners, and others. The Asia Pacific had the largest market share in 2017 followed by Europe and North America. Europe holds 25% of market share across the globe. It is one of the second largest global waterproofing chemical market to be known in the region. Due to the technological advancements and increased count of skyscrapers, the demand for the waterproofing chemical market will be expected to register a hike. North America is stagnant and will probably witness a moderate growth in the market. Latin America, Middle East, and Africa are anticipated to show moderate growth as it is undeveloped compared to others. But still, these markets will gain substantial momentum in the upcoming years. Based on technology, segmentation includes Preformed Membranes, Coatings & LAMS (Liquid Applied Membrane Systems), Integral Systems, and others.
The key manufacturers in the global waterproofing chemical market are Mitsubishi Chemical Holdings Corporation, Toray Industries, Eastman Chemical Company, Bostik Inc., Polgel Industries, ExxonMobil Chemical, Estop Group, The Dow Chemical Company, Sika AG, and Thermax Limited.
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