The waterproofing chemicals market is expected to grow at a compound annual growth rate of 10.67% over the forecast period to reach a market size of US$47.858 billion in 2027, from US$23.538 billion in 2020.
The increasing application of these chemicals across various industries will drive market growth over the forecast period. Increasing awareness regarding the importance of using W waterproofing C chemicals is also contributing to the market’s growth considerably. Government policies promoting infrastructure development in the Asia Pacific, particularly in China, and India, are is also expected to fuel the demand for these chemicals. New types of W waterproofing C chemicals that possess superior self-adhesion and longevity will also positively impact the growth of the market. However, a vast majority of these chemicals are petroleum-based, making them highly vulnerable to fluctuations in commodity prices. Hence, the volatility of the oil prices is expected to be one of the major restraining factors for market growth. The Asia- Pacific was the biggest market for these chemicals in 2019 and will continue to dominate the global market over the next six years. China and India are expected to play a major role in the market’s growth.
Increasing investments in the water and wastewater sector
The market is expected to surge in the coming years, due to the increasing investments in the water and wastewater sectors, worldwide. According to the data given by the United Nations report, investment needs in water infrastructure significantly exceed overall current financing flows. The report had also stated that total investments are projected to increase to US$6.7 trillion by 2030 and around US$22.6 trillion by 2050. Various countries have been making significant developments in the market. For instance, in India, according to the India Investment Grid, there have been around 497 opportunities in water treatment plants, with worth around US$107.07 billion. Major companies have been making significant developments in the market. For instance, Waterseal Waterproofing, one of the key players in the market, provides a wide range of Waterseal Silicone Polymers-based coatings for tank waterproofing. These trends and developments are expected to play a major role in the market’s growth, in the coming years.
Major companies have been making significant developments in the market.
Growth in the construction sector
The market is expected to be driven by the growth in the construction industry, globally. According to the U.S Department of Commerce’s Census Bureau, around 50% of construction spending in the United States is generated from the housing sector. In the month of October 2020, US$1.48 trillion was spent on construction, out of which US$646 billion was spent in the housing and residential sector. China is one of the major economies, which is expected to drive the market in the coming years. According to the National Development and Reform Commission, the construction of major projects in the country has surged in recent years, from waterways, highways to residential projects. In India, the country's government announced that it had launched a program to build housing for all by the year 2022, which is expected to drive market growth in the coming years. The government of India has had set up a fund for housing, under the National Housing Bank. The continuous spending in the housing and residential sector is expected to drive market growth. Major companies have been making significant developments in the market. For instance, Dr. Fixit, one of the key players in the market, provides a wide range of solutions for waterproofing a novel home or for repair. The company's product range includes a variety of novel construction waterproofing chemicals for all major surfaces, such as internal walls, structures, external walls, roofs, water bodies, and bathrooms. These trends and developments are expected to play a major role in the market’s growth, in the coming years.
|Market size value in 2020||US$23.538 billion|
|Market size value in 2027||US$47.858 billion|
|Growth Rate||CAGR of 10.67% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Membrane Type, End-user industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||BASF, The Dow Chemical Company, Mapei, Carlisle Companies Inc., Soprema Group, Pidilite Industries, Fosroc International, Johns Manville, Drizoro, Conpro Chemicals Private Ltd.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the waterproofing chemicals market size by 2027?
A1. The waterproofing chemicals market is expected to reach a market size of US$47.858 billion by 2027.
Q2. What is the size of the global waterproofing chemicals market?
A2. Waterproofing Chemicals Market was valued at US$23.538 billion in 2020.
Q3. What are the growth prospects for the waterproofing chemicals market?
A3. The global waterproofing chemicals market is expected to grow at a CAGR of 10.67% during the forecast period.
Q4. What factors are anticipated to drive the waterproofing chemicals market growth?
A4. The increasing application of these chemicals across various industries will drive waterproofing chemicals market growth over the forecast period.
Q5. Which region holds the maximum market share of the waterproofing chemicals market?
A5. The Asia Pacific was the biggest market for these chemicals in 2019 and will continue to dominate the global market over the next six years.
The Dow Chemical Company
Carlisle Companies Inc.
Conpro Chemicals Private Ltd.
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