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(Construction.IndustryNews247.Com, February 07, 2019 ) The report "Waterproofing Chemicals Market by Chemistry (Bitumen, Elastomers, PVC, TPO, EPDM), System/Technology (Preformed Membranes, Coatings & LAMs, Integral System), Application (Roofing & Walls, Floors & Basements, Waste & Water Management, Tunnel Liners) and Geography - Forecast to 2021", published by MarketsandMarkets, The market size is estimated to grow from USD 17.43 Billion in 2016 to USD 30.88 Billion, by 2021, at a CAGR of 12.1%.
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The market is driven by the rising building & construction industry, improved quality of construction and cost effectiveness of waterproofing chemicals.
Roofing & walls the largest application market for waterproofing chemicals
The roofing & walls segment dominated the waterproofing chemicals market with the maximum share in 2015. Waterproofing chemicals have been successfully employed for many years in the commercial & residential construction industry for applications such as roofing & walls and floors & basements. With the growing construction industry in the developing economies, the market of waterproofing chemicals is further expected to rise in in the forecast period.
Bitumen The largest type market of waterproofing chemicals
Bitumen is the most common type of waterproofing chemical used, globally. It is extensively used in preformed membranes and coatings & LAMs as bitumen waterproofing membrane. Bituminous membranes and coatings offer exceptional waterproofing properties, and incorporate high toughness, good traffic resistance, excellent high-resistance properties, and excellent resistance to UV light. Increased government investments on commercial building & construction projects are driving the demand for waterproofing system/technology, which drives the demand for bitumen, globally.
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Asia-Pacific The largest market of waterproofing chemicals
Asia-Pacific which includes China, India, Japan, and, Australia has always been a strong market of waterproofing chemicals and, globally, this market has been a leader for waterproofing chemicals with respect to demand as well as consumption. In Asia-Pacific, the growth of construction activities, especially, in China is an important indicator of the demand for waterproofing chemicals. China is the largest construction market having firm government support and an obligation to increase its sustainable construction and urbanization, which results in increased demand for waterproofing chemicals.
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