The global waterproofing chemicals market was valued at $3,652.5 million in 2015, and it is expected to grow at a CAGR of 6.6% during 2016-2022. The factors driving the growth of the global market include growth in the end-use market, favorable environmental regulation, and increasing compliance with international manufacturing standard. The growth of waterproofing chemicals market is largely driven by growth in the end user industry i.e., construction and manufacturing industry. The rapid development in emerging economies and use of the innovative products and material in construction activities has supported the increased demand of waterproofing chemicals. Construction activities are largely driven by industrialization and urbanization in developing countries. The increasing investments in both the new construction and repair, and rehabilitation projects are anticipated to create huge demand for waterproofing chemicals during the forecast period.
Among the various applications, the roofing segment held the largest share (33.1% in terms of volume) in the global waterproofing chemicals market. Roof is the most critical segment of the building structure, as it is directly exposed to continuously changing weather conditions, such as extreme heat and rainfall. Due to which, large volumes of different waterproofing chemicals are consumed for roofing applications.
In 2015, Asia-Pacific held the largest share in the global water proofing chemicals market with 39.2% share. The waterproofing chemicals market in the region is anticipated to witness the highest growth at a CAGR 7.6% during the forecast period. The major reasons behind the growth of the waterproofing chemicals market in the region are increasing investment for infrastructure development, large consumer base, and increasing compliance with international manufacturing standard. China dominated the Asia-Pacific, as well as global waterproofing chemicals market.
Among the various types of waterproofing chemicals, the bitumen segment held the largest share in the global market with 44.7% share in 2015. The polymer segment is anticipated to witness the highest growth at a CAGR of 7.6% during 2016 – 2022.
Some of the major players operating in the global waterproofing chemicals market include BASF SE, The Dow Chemical Company, Evonik Industries AG, Thermax Limited, Pidilite Industries Limited, Bostik Inc., Fosroc, Mitsubishi Chemical Holdings Corporation, Zeon Corporation, and Sika AG.
News Courtesy: P&S Market Research