Global Waterproofing Chemicals Market is expected to exceed USD 7 billion by 2022, according to a new study by Grand View Research, Inc. Construction industry growth is anticipated to drive the market growth of waterproofing chemicals. Government of China, India, France and UK have framed numerous policies for clean groundwater and land filling, which is anticipated to increase the application of waterproofing chemicals over the forecast period.
Roofing was the largest application segment, accounting for over 25% of global waterproofing chemicals market revenue in 2014. Rising popularity of roofing membranes to prevent water leakage in residential and commercial structures is expected to fuel waterproofing chemicals market demand in the near future.
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Further key findings from the study suggest:
- Bitumen was the largest product segment, accounting for over 40% of global market revenue in 2014. Increasing application of bitumen as roll roofing component in residential and commercial building structures on account of its unique properties including high viscosity and stickiness is expected to have a positive impact on market.
- Gaining popularity of thermoplastic polyolefin (TPO) on account of being heat reflective and an energy efficient roofing system is expected to have a positive impact on market growth over the next seven years.
- Building structures are anticipated to remain fastest growing application segment on account of increasing government expenditure on infrastructure improvement in Brazil, India, China, Mexico and Saudi Arabia.
- Asia Pacific was the largest waterproofing chemicals market, accounting for over 40% of market revenue in 2014. Growing housing sector in China and India in light of increasing urbanization and population growth is expected to fuel waterproofing chemicals market over the forecast period. Government of India announced National Manufacturing Policy in 2011, intended for enhancing the production output in chemicals, automotive, pharmaceutical and food & beverage industries at domestic level. This regulatory move is anticipated to increase the penetration of commercial structures, which is likely to fuel waterproofing chemicals market demand in the near future.
- Major waterproofing chemicals manufacturers include companies such as Conpro Chemicals, Triton Chemicals, Dow Chemical Company, Pidilite Industries, Bostik and Sika. Expansion of refining capacity in Middle East is anticipated to ensure raw material access for waterproofing chemicals manufacturers in the near future.
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For the purpose of this study, Grand View Research has segmented the global waterproofing chemicals market on the basis of product, application and region.