Global Waterproofing Chemicals Market Grows at a Staggering CAGR of 10.31%

Introduction

Waterproofing chemicals are substances or compounds utilized to provide surfaces or materials with water or moisture infiltration resistance. Waterproofing primarily aims to protect various materials, structures, and buildings from the adverse consequences of water, such as deterioration, the growth of mildew, and associated issues. Various waterproofing chemicals are available, each specially formulated to suit particular surfaces and applications.

The choice of a waterproofing chemical is contingent on a multitude of factors, such as the characteristics of the surface, the current environmental circumstances, and the particular requirements of the undertaking. Appropriate application and maintenance of waterproofing materials are critical for ensuring long-lasting protection against water infiltration.

Market Dynamics

Growing Construction Industry Drives the Global Market

The substantial increase in construction activities, especially in developing regions, has notably escalated the demand for waterproofing compounds. Waterproofing compounds are essential in preventing water damage to structures, ensuring their extended lifespan and robustness. This is especially crucial in regions susceptible to intense precipitation or water inundation. Therefore, the demand for durable and resilient structures, such as those in the commercial, industrial, and residential sectors, stimulates the market.

The construction sector experienced significant expansion in Asia-Pacific, North America, and the Middle East and Africa until 2021. As an illustration, the US Census Bureau projected construction expenditures at a seasonally adjusted annual rate of USD 1,639.9 billion in December 2021. Moreover, construction expenditures reached USD 1,589.0 billion in 2021, representing an 8.2% increase over 2020's USD 1,469.2 billion; this increased demand for waterproofing chemicals in construction applications. Thus, expansion in the construction sector is expected to stimulate the global market.

Strategic Initiatives by Key Players Create Tremendous Opportunities

Major market participants are executing various strategies to enhance their market presence, including collaborations, product launches, mergers and acquisitions, and expansion. For instance, JSW Cement introduced a green product line in this category in June 2021, thereby announcing its entry into the construction chemical industry. A statement indicated that the range consists of "Duraflor" floorhardener, "Krysta Leakproof" readymix gypsum, and "Enduro Plast" integral crystalline waterproofing compound.

Moreover, Beacon executed the acquisition of Garvin Construction Products, a distributor of waterproofing products based in Medford, MA, with four additional locations in Long Island City, NY, Beltsville, MD, North Haven, CT, and Carlstadt, NJ, effective October 2023. The conclusion of the acquisition was announced today by Beacon. Owners, contractors, and design experts have relied on Garvin's full suite of building envelope solutions for over 70 years. Waterproofing, restoration, tinting, glazing, and glass are among these restoration techniques. These endeavors thus generate opportunities for the expansion of the market.

Regional Analysis

Asia-Pacific is the most significant global waterproofing chemicals market shareholder and is expected to expand substantially during the forecast period. The expansion of end-user industries and burgeoning investments in the chemical and materials sector all stimulate the production and consumption of waterproofing chemicals in the Asia-Pacific region. In 2021, 59.2% of the global chemical industry's revenue was generated in Asia. This subsequently increases the demand for waterproofing compounds. Specific nations in the Asia-Pacific region have manufacturing capacities that are economically feasible and cost-effective, which has resulted in greater accessibility and application of waterproofing compounds.

Moreover, the expansion of residential housing in the Asia-Pacific region has been propelled by the increasing populations and disposable incomes of China, India, and Indonesia. This has consequently increased the demand for waterproofing chemicals within the construction industry. Multiple mega-infrastructure projects and 2,991 hotel construction projects are anticipated to contribute to a 4.21 percent expansion of the Chinese construction industry through 2021. Therefore, the construction industry's expansion will coincide with increased demand for waterproofing compounds over the forecast period.

Key Highlights

• The global waterproofing chemicals market was valued at USD 29.19 billion in 2022. It is estimated to reach USD 70.59 billion by 2031, growing at a CAGR of 10.31% during the forecast period (2023–2031).
• Based on product, the global waterproofing chemicals market is divided into polymers, bitumen, and others. 
• Based on application, the global waterproofing chemicals market is segmented into roofing and wall, floor and basement, water and waste management, tunnel and landfills, bridges and highways, and others.
• Asia-Pacific is the most significant global waterproofing chemicals market shareholder and is expected to expand substantially during the forecast period.

Competitive Players

Competitive Players

The key global waterproofing chemicals market players are Pidilite Industries Ltd, BASF, Polygel Industries, Dow Chemical Company, E.I. DuPont De Nemours & Co, ExxonMobil Chemicals, Mitsubishi Chemical Holdings Company, Evonik Industries, Eastman Chemical Company, Toray Industries, Choksey Chemicals Pvt Ltd, Estop Group, Kumho Petrochemicals, Trinseo Europe GmBH, and others.

Recent Developments

Market News

• In April 2023, Indigo Paints disclosed its entry into the waterproofing and construction chemicals sectors by purchasing a 51 percent stake in Apple Chemie India Private Ltd (ACIPL). In response, the company's stock increased by more than 2 percent. 
• In October 2023, Berger Paints India Limited unveiled Berger DAMPSTOP, an innovative line of waterproofing products. These products, composed strategically, are capable of effortlessly carrying out various treatments related to waterproofing, such as silane, salt leaching, and moist treatments.

Segmentation

Global Waterproofing Chemicals Market: Segmentation

By Product

• Polymers
• Bitumen
• Others

By Applications

• Roofing and Wall
• Floor and Basement
• Water and Waste Management
• Tunnel and Landfills
• Bridge and Highways
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa