The Waterproofing Admixture Market is estimated to be valued at US$ 4.66 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The waterproofing admixture market is estimated to witness high growth owing to increasing urbanization trends.
Market Overview:
Waterproofing admixture are chemical compounds that are added to concrete mixture or mortars to make them waterproof. They prevent water from penetrating through concrete pores by filling air voids and pores in concrete. This protects concrete from damage due to water. Waterproofing admixtures give long lasting protection and increase the lifespan of concrete structures like buildings, tunnels, bridges, etc.
Market key trends:
Increasing urbanization and infrastructure development activities are driving the growth of the global waterproofing admixture market. Rapid urbanization has increased the demand for new residential and commercial construction which requires large amount of concrete. Also, the rise in infrastructure projects such as roads, bridges, rail networks etc. has surged the demand for waterproofing admixtures. According to the United Nations, around 68% of the global population is expected to live in urban areas by 2050. This is prompting governments worldwide to focus on infrastructural development and construction of residential and commercial buildings. Moreover, waterproofing admixtures provide permanent protection against water leakage and dampness. They reduce repair and maintenance costs of concrete structures over the years. This is increasing their utilization in the construction industry.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the waterproofing admixture market is moderate to high as it requires high initial investment. Bargaining power of buyers: The bargaining power of buyers is moderate to high as buyers can choose from various established brands and private label products in the market. Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers play a crucial role and there are few global suppliers. Threat of new substitutes: The threat of new substitutes is low as waterproofing admixtures have few close substitutes and established use. Competitive rivalry: High due to presence of numerous global and regional players.
SWOT Analysis
Strength: Wide applications in construction industry and ability to provide long lasting waterproofing solutions. Weakness: Fluctuation in raw material prices can impact product cost. Opportunity: Growth in infrastructure and real estate sector in emerging economies. Threats: Stringent environmental regulations regarding VOC emissions can increase production cost.
Key Takeaways
The global waterproofing admixture market is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing investments in infrastructure development projects. Regionally, Asia Pacific dominates the global market and is expected to continue its dominance, growing at a CAGR of around 9% during the forecast period. China, India, Japan, Indonesia, Vietnam are major countries driving the growth of the Asia Pacific waterproofing admixture market.
Key players operating in the waterproofing admixture market are Dow Corning Corporation, Mapei S.p.A, RPM International, Sika A.G., BASF SE, W.R. Grace, Wacker Chemie A.G, Xypex Chemical Corporation, Fosroc International, Evonik A.G., Pidilite Industries. The key players are focusing on new product launches and expanding their production capacities to strengthen their market position.
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