Water proofing is a method of coating applied to any surface or material in order to make it water resistant or to withstand harsh climatic conditions. The chemical compounds are water based; they deliver a full proof water resistance to the surface or any application.
Water proofing chemical are segmented based on the products used in the process as thermoplastic polyolefin (TPO), polyvinylchloride (PVC), ethylene propylene diene terpolymer (EPDM), polytetrafluoroethylene (PTFE), bitumen, and silicone. Of which, bitumen is highly demanded in the global water proofing chemical market. Further, based on various methods used to apply the chemicals on the surface, the market is segmented as cementitious waterproofing, liquid waterproofing membrane, bituminous coating, and polyurethane liquid membrane. The waterproof chemicals are widely used in various segments such as roofing, tunnels, walls, landfills, automotive, textile, and many others.
Rising global warming and concerns regarding environment had changed consumer focused towards utilizing these products in roof coating in order to avoid heat deposition below the roof. Increasing disposable incomes in developing countries have changed the inclination of consumers towards sustainable building method which drives the water proofing chemical market. The growing construction and destructive natural calamities which lead to residential and commercial property damage have been a key factor boosting the demand for water proofing chemicals. Product advancements, mergers, acquisitions, and joint ventures are the key strategies adopted by the global market players to boost the growth in water proofing chemical market. Rising demand from other end-user segments such as leather industry, electronic industry, and paper industry also play a vital role in boosting the demand for water proof chemicals. Wide application of these chemicals in the automobile sector is the main factor responsible for rising demand for water proofing chemicals. Huge demand for water proof textile in various applications such as sports activities, defense clothes is also driving the market growth. However, fluctuating raw material prices may hamper the growth of the water proofing market.
Asia-Pacific is the largest market for waterproofing chemicals and it is expected to retain its influence in the come years due to rising infrastructure projects and increased disposable income of the consumers. North America region is growing at a steady pace due to the economic slowdown. Europe may grow rapidly due to high demand from the automobile industry.
Key participants in water proofing chemical market are Pidilite Industries Ltd., BASF, Polygel Industries, ExxonMobil Chemicals, Dow Chemical Company, E.I. DuPont De Nemours & Co., Mitsubishi Chemical Holdings Company, and Toray Industries. Moreover, some of the other major players contributing in the global market are Evonik Industries, Eastman Chemical Company, Choksey Chemicals Pvt. Ltd., Trinseo Europe GmbH, Estop Group, and Kumho Petrochemicals.
Water Proofing Chemical Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa