According to analysts at Vantage Market Research, the Waterproofing in Building & Construction market is expected to reach USD 5,623 Million by 2028, growing at a CAGR of 9.3% between 2021 and 2028. Increasing investments in the real estate industry both commercial and residential, rising income level, growing population, urbanization, are some factors that are driving the growth for Waterproofing in Building & Construction Market globally.
- The Cementitious waterproofing segment is projected to expand over 7.1% CAGR over the forecast period. Cementitious waterproofing is an effortless method of waterproofing. The materials for this type of waterproofing are available easily from masonry products suppliers, and they’re easy to apply and mix. This method is used often in wet areas internally like toilets.
- The building structure segment held a market share of more than 31.2% in 2020. Building structures are the areas such as balconies, belowground constructions, foundations, basements, storage rooms, retaining walls, and others, excluding walls and roofs. Building structures are generally exposed to stresses like water stresses, water exposure, unequal static forces, groundwater chemical exposures, biological influences, temperature variations, and others. Waterproofing of these building structures provides long-term and effective protection and ensures efficient and effective protection of building structures.
- Asia Pacific is expected to expand at a CAGR of over 7.6% between 2021 and 2028. The building structures and construction market in APAC is fueled by increased consumer spending, a rising construction industry, and powerful economic growth.
Some of the key players in Waterproofing in the Building & Construction market are BASF SE, GAF Materials Corporation, Fosroc Ltd., Bostik, CICO Technologies Ltd., DOW Chemical Company, Triton Chemicals, Paul Bauder GmbH & Co. KG, Compro Chemicals, Pidilite Industries Ltd., Sika AG, Kemper System America, DuPont, Eastman Chemical Company, among others. The market is comprised of a high degree of competition due to the presence of numerous key players. Manufacturers are focusing on opting for various inorganic growth strategies such as acquisitions, mergers, and geographical expansion to leverage their market share and gain a competitive advantage.
The development in waterproofing building and construction is associated with the rising real estate industry, urbanization increasing population, and growing income levels. New innovations and technology are taking place to convert traditional homes into more classy and modern. Rising demand for swimming pools, rising environmental calamities, heavy rainfalls, are also some of the reasons contributing to the market growth.
The Middle East and Africa are poised to record a substantial CAGR. The demand is associated with the rising infrastructure investments and substantial capital projects across sectors such as healthcare, hospitality, and education. Government in various nations are putting their efforts to grow infrastructure expenditure as a part of economic development programs.