Published: Jul, 2018
The top three major players in the global waterproofing admixtures market are BASF SE, SIKA AG, and Mapei S.p.A. These organizations hold a major share in the international market. Impressive research and development and the aggressive marketing strategies of these companies have assisted to hold the leading share in the market.
It is expected that in the years to come, several international players are aimed at developing efficient product that is believed to deliver better durability by improving their water resistance, reports Transparency Market Research. The global waterproofing admixtures market is projected to be worth US$4.9 bn by 2024. The global market is expected to expand at CAGR of 7.9% because of the increase in demand for concrete structures during the forecast period.
Heavy Usage of Crystalline Leads It Hold to a Share Of 46.7% By 2024
On the basis of the product the global market is classified into pore-blocking and crystalline. The crystalline segment is expected to dominate the market through the mentioned forecast period. This segment is expected to hold a share of 46.7% in the overall market by 2024. The need for Crystalline which is a vital admixture used in achieving waterproofing technology, will surge in the years to come.
On the basis of the geography the global market of waterproofing admixtures market is spread across Europe, North America, Latin America, and the Middle East and Africa. Asia-Pacific is dominating the market and is expected to continue so in the future. The region is confident to hold 64% of the global share by the end of 2024. Increase in disposable incomes and rise in standards of living will play a major in driving the global waterproofing admixtures market.
Lack of Awareness about the Product Make Customers Opt For Traditional Method of Waterproofing
Rise in acknowledgment and understanding the need for waterproofing any kind of structure to avoid damage or degeneration to them is expected to fuel the growth of the market. Exposure to water not only damages the beauty of the product or structure but also decreases the durability of it. Furthermore, continuous seepage or water leakage does make a big hole in the pockets of the person who is for maintenance. In order to avoid all these issues, builders are nodding for waterproofing admixtures. In the coming years renovation of old buildings will increase the demand too.
Conventional waterproofing methods is likely to cause a stall in the global waterproofing admixtures market. Conventional methods such as bituminous, box-type waterproofing, and lime terracing still gets major nod from the customers. Lack of awareness among the customers about the products available in the market is expected to slug the growth of the market. Another noticeable restraint that is expected to pull down the market is the high cost of the material that the analysts anticipates in the coming years. This will make the customers opt for the traditional method which is pocket friendly and manages to prevent water from permeating.
This review is based on Transparency Market Research’s review, titled “Waterproofing Admixture Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 - 2024.”
The global waterproofing admixture market has been segmented as follows:
Global Waterproofing Admixture Market, by Product
Waterproofing Admixture Market, by Application
Waterproofing Admixture Market, by Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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