Overview:
The global market for waterproofing chemicals is predicted to make a mark by crossing a valuation of USD 32,915 million by 2023, where it will also reach a CAGR of around 9.86% during the forecast period of 2022 to 2030. Market Research Future (MRFR) released a report saying that this market will gain strength from industries like building and construction where products that help in withstanding weather are in great demand. With rising urbanization and industrialization in developing industries, the market is expected to expand its base. This is due to the improving construction sector in those countries.
Segmentation:
The global report on the Waterproofing Chemicals Industry has been segmented on the basis of type and application for a better understanding. MRFR analysts have included various data and studied factors to get a proper idea of how the market would shape up in the coming years. This has been further backed by different charts and graphs that dealt with volumes and revenues.
By type, the global understanding of the waterproofing chemicals market has been studied on the basis of bitumen, PVC, TPO, EPDM, and others. The PVC segment is becoming popular in the construction sector for its multiple benefits. This will help the segment in fetching better revenue for the market.
By application, the study of the global waterproofing chemicals market has been segmented into flooring, tunneling, basement, roofing, walls, and others. The walls and roofing segment will get significant traction as their use of waterproofing chemicals for better constructional output is getting acknowledgment.
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Regional Analysis:
Asia Pacific is showing signs of controlling the global market for waterproofing chemicals. The region is showing a chance to grow with 10.88% during the forecast period. Industrialization and urbanization are going on in a full-fledged way, owing to which the market will benefit significantly. In North America, the US will take charge of the market.
Competitive Landscape:
DowDuPont (The U.S.), Sika AG (Switzerland), BASF SE (Germany), Pidilite Industries Ltd. (India), Wacker Chemie AG (Germany), RPM International Inc. (The U.S.), Fosroc (U.K), Drizoro S.A.U. (Spain), Conpro Chemicals Pvt. Ltd (India), Mapei S.p.A (Italy), Carlisle Companies Inc. (The U.S.), and Soprema Inc. (The U.S.), are some of the major waterproofing chemicals company in the market that assist various end user industries in securing best-in-class results. These companies make their impact felt through strategic moves that span across mergers, acquisitions, innovations, and collaborations. In addition, their attempt to edge out others has led to a hike in investment in the research and development sector to boost innovation. This would also help in boosting the launching and branding services. MRFR’s made a proper note of the latest proceeding initiated by these countries that can help in a study of the future market.
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Industry News:
The global below grade waterproofing products has been hit hard by the recent pandemic outbreak of the COVID-19. The contagious disease has brought the world to a standstill where several countries were forced to announce lockdowns. These lockdowns have resulted in halting in the manufacturing and construction sectors. Also, the supply chain got deeply scarred due to this. Various shipping consignments got prevented from moving further, which led to failure in delivery. In fact, it has adversely impacted the production process. As strict measures, companies were asked to stop production and also lack of clearance in supply dues led to a drop in the production and increased the amount of backlog. The market is expected to witness this slack in 2020.
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