Rising Construction Activities Fueling Waterproofing Chemical Demand
Waterproofing chemicals are usually used to protect buildings from water seepages because seepages can reduce the lifespan of a structure and can cause health, metal, and electrical hazards to the building’s owner.
Waterproofing chemicals are usually used to protect buildings from water seepages because seepages can reduce the lifespan of a structure and can cause health, metal, and electrical hazards to the building’s owner. These chemicals enhance the durability of infrastructure and increase the shelf life of concrete structures when applied to the exterior of the buildings. Owing to these advantages, the waterproofing chemicals help in reducing the maintenance of buildings. Thus, the increasing construction of housing units and commercial structures, owing to the booming population, will fuel the consumption of such chemicals in the forthcoming years.
Moreover, the mounting investments being made by governments, especially of developing countries, in the infrastructure sector will help the waterproofing chemicals market advance at a CAGR of 6.6% during 2016–2022. According to P&S Intelligence, the market generated revenue of $3,652.5 million in 2015. For instance, the Investment Partnership Program (PPI) of the Government of Brazil evaluates and recommends infrastructure projects that will be encompassed in the list of important projects will undergo a bidding process for privatization or concession. The total portfolio projects for auction in the country are valued at $44.66 billion.
Additionally, the rising global focus on strengthening the construction and manufacturing industries, owing to the surging focus on policies such as "Zero Effect and Zero Defect" will also fuel the usage of waterproofing chemicals across the world. Moreover, the soaring focus of regulatory authorities to set up pollution control guidelines and create a model that incentivizes green and energy-efficient buildings will augment the consumption of such chemicals in the construction sector. For example, the Indian Green Building Council (IGBC) works toward providing infrastructure tools that encourage the adoption of green building practices in India.
Styrene-butadiene-styrene (SBS), atactic polypropylene (APP), polyvinyl chloride (PVC), thermoplastic polyolefins, and ethylene propylene diene monomer (EPDM) are the most common types of waterproofing chemicals being used in roofing, building structures, walls, and landfills and tunnels. The construction and manufacturing sectors procure such chemicals from Pidilite Industries Limited, Evonik Industries AG, Thermax Limited, Fosroc, Zeon Corporation, BASF SE, Mitsubishi Chemical Holdings Corporation, Sika AG, Bostik Inc., and The Dow Chemical Company.
Geographically, Asia-Pacific (APAC) led the waterproofing chemicals market in the preceding years, and it is also expected to consume these chemicals at the highest rate in the upcoming years. This can be owed to the expanding consumer base, increasing compliance of the manufacturing industry with international standards, and soaring investments in the infrastructure sector, in the region. Among APAC nations, China uses the highest volume of waterproofing chemicals, due to the presence of a wide manufacturing base and increase in construction of numerous infrastructure units in the country.
Thus, the increasing construction activities, soaring government investments in the infrastructure sector, and mounting public focus on green and energy-efficient buildings will fuel the consumption of waterproofing chemicals.