ALBANY, New York, February 15, 2017 /PRNewswire/ --
According to the research report, the global waterproofing admixtures market is expected to be worth US$4.9 bn in 2024 from US$2.5 bn 2015. Between the forecast years of 2016 and 2024, the global waterproofing admixtures market is expected to progress at a CAGR of 7.9% due to growing demand for better concrete structures.
Waterproofing admixture is a porous chemical ingredient that absorbs water and water borne contaminants during cement or concrete hydration proves. Concrete being porous in nature is susceptible to chemical attack and concrete structures are prone to deterioration due to water seepage. Waterproofing admixture if employed in concrete formulation offer excellent corrosion resistance and also resist water penetration. It helps in reducing maintenance cost and enhances the durability of structure. Waterproofing admixture are used in residential, commercial, and infrastructure sector
Waterproofing admixtures are prominently used in residential sector followed by commercial sector. Increasing investment in residential projects coupled with increasing population density across urban regions has been fueling the demand for waterproofing admixture since the last few years. This trend is expected to continue during the forecast period. However, factors such as dependency on conventional waterproofing system such as brick back coba system, lime terracing and low product awareness can affect market growth. Product improvement and diversification into construction chemicals and construction solution business are projected to provide lucrative growth opportunities for the waterproofing admixture market.
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In terms of product type, crystalline product type accounted for major share of the waterproofing admixture market. The crystalline segment accounted for more than 35% share of the waterproofing admixture market in 2015. Pore-blocking was the second-largest segment of the market in 2015.
End use segments include infrastructure, residential and commercial. In terms of applications, residential sector accounted for major share of the waterproofing admixture market in 2015. In terms of revenue, the residential segment held more than 40% share of the waterproofing admixture market in 2015. It is expected to expand significantly during the forecast period due to rising population and growing industries. The commercial segment was the second-largest segment in 2015. The usage of waterproofing admixture market in non-residential complexes and infrastructure is also rising rapidly. This is expected to boost the market.
In terms of volume, Asia Pacific accounted for a significant share in waterproofing market in 2015 followed by Middle East and Africa. This trend is expected to continue during the forecast period due to the increasing demand for sustainable product. . Further rise in population is another factor that is expected to propel the waterproofing admixture market in Asia Pacific. Rapid growth in the construction sector due to growing demand for mass housing projects coupled with need for improved productivity and quality at construction projects is projected to increase the demand for waterproofing admixtures in the Middle East & North Africa in the next few years. Rising stringent regulation on carbon emission, and VOC emission, emphasis on using high performance concrete are some of the factors fuelling the market in Europe and North America. However, demand for waterproofing admixture is projected to remain stable in these regions due to the average growth of construction materials. Latin America is projected to be a lucrative market for waterproofing admixture in the next few years owing to the rise in construction activities coupled with increase in demand for sustainable product.
Major players in the waterproofing admixture market includes Sika AG, BASF SE, Wacker Chemi AG, and Mapei S.p.A, CEMEX S.A.B. de C.V, Fosroc International Ltd., ICS Penetron International Ltd, and W. R. Grace & Co.-Conn.
The waterproofing admixture market has been divided into the following segments.
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