Global waterproofing chemicals market expected to grow above a CAGR of 5.2% and is anticipated to reach over USD 13,292.5 Million by 2026.
NEW YORK, UNITED STATES, July 3, 2020 /EINPresswire.com/ — Findings from Facts and Factors report “Waterproofing Chemicals Market By Type (Bitumen, Polymers, and Others) and By Application (Tunnel Liners, Roofing & Walls, Floors & Basements, Waste & Water Management, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global waterproofing chemicals market in 2019 was approximately USD 9,321.7 Million. The market is expected to grow above a CAGR of 5.2% and is anticipated to reach over USD 13,292.5 Million by 2026.
Waterproofing chemicals make any building job more robust. This also prevents water infiltration or leakage of water which can be obtained with the aid of waterproofing chemicals. The infiltration of water triggers electrical and metal hazards along with any major infrastructure's decreased life. Governments in emerging economies such as China, Brazil, and India are likely to raise awareness of the use of high-quality waterproofing chemicals. This, in turn, is expected to boom the market’s margin over the forthcoming years. Growing infrastructure spending is expected to serve as a significant opportunity for emerging economies to enter the waterproofing chemicals market.
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Driven by numerous factors, such as increasing construction efficiency, the market is expected to drive the waterproofing chemicals market over the forecast period and rising demand from developing countries. However, fluctuating prices of raw materials is a major factor that may impede the growth of the market. Nonetheless, in the projected years, the need for water conservation in the Asia Pacific and growing construction in developing countries are the main opportunities for the global demand for waterproofing chemicals.
The waterproofing chemicals industry, depending on the main product, is divided into bitumen, polymers, and others. In 2019, bitumen led the global demand for waterproof chemicals. Bitumen is one of the widely used chemical waterproofing forms, worldwide. Increasing government spending in construction projects & commercial building is boosting waterproofing chemical demand, which is expected to raise bitumen demand over the coming years. Thus, the bitumen segment is predicted to exhibit the highest growth during the years to come.
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The waterproofing chemicals market is segmented in terms of application into tunnel liners, roofing & walls, floors & basements, waste & water management, and others. The application of roofing & walls led the market for waterproofing chemicals in 2019. It represented over 35% of total market share in 2019. Rapid urbanization coupled with the increasing disposable income of the middle-population is likely to fuel the construction sector demand growth.
The Asia Pacific was the largest market of the global waterproofing chemicals in 2019. It accounted for more than 30% share of the total market and furthermore, is expected to witness the highest CAGR in the near future. Due to the rising construction sector due to economic growth and rapid industrialization in the area over the past few years, as well as increasing investment in construction and development for the region's major infrastructure projects, the waterproofing chemical market is expected to improve in the near future.
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Top key players operating in the market are Thermax Limited, ExxonMobil Chemicals, The Dow Chemical Company, Eastman Chemical Company, Bostik Inc., Mitsubishi Chemical Holdings Corporation, Polygel Industries, Toray Industries, Estop Group, Sika AG and Others.
This report segments the waterproofing chemicals market as follows:
Global Waterproofing Chemicals Market: By Type Segmentation Analysis
Global Waterproofing Chemicals Market: By Application Segmentation Analysis
Roofing & Walls
Floors & Basements
Waste & Water Management
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Source: EIN Presswire