Waterproofing Admixture Market to Perceive Substantial Growth During 2024
The
top three leading players in the global waterproofing admixtures
market are Mapei S.p.A, BASF SE, and SIKA AG. These players
collectively held a share of 34.9% in 2015 in the global market. The
aggressive marketing strategies of these players and their strong
research and development activities have helped them maintain the
leadership in the global market. In the coming years, several players
in the global market are expected to focus on the development of
highly efficient products that will deliver improved durability to
structures by enhancing their water resistance, states Transparency
Market Research.
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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 market
Extensive
Usage of Crystalline Makes the Product Segment Vital to Global Growth
The
products available in the global market are crystalline and
pore-blocking. Out of these, the crystalline segment is projected to
dominate the global market throughout the forecast period. This
product segment is slated to acquire a share of 46.7% in the overall
market by 2024. The demand for crystalline will spike in the coming
years as it is the primary admixture that is commonly used in
achieving waterproofing technology.
Geographically,
the global waterproofing admixtures market is segmented into North
America, Europe, Asia Pacific, the Middle East and Africa, and Latin
America. Of these, Asia Pacific led the pack in 2015 and is expected
to continue its dominance throughout the forecast period. The
regional market is poised to account for a share of 64% by the end of
2024. This market will be driven by the rising standards of living
and improving disposable incomes that are leading to a renewed demand
for better waterproofing admixtures.
Renovation
and New Constructions Propel Demand for Waterproofing Admixtures
The
growing importance of waterproofing any kind of structures to prevent
degeneration or damage to them is expected to drive the global
waterproofing admixtures market. Permeation of water not only causes
damage to the aesthetics but also reduces the lifespan of structures
by negatively impacting their durability. Furthermore, persistent
water leakage or seepage can increase the maintenance cost of
structures too. Thus, to avert these issues in the long term,
builders are opting for waterproofing admixtures that offer buildings
adequate durability. The booming building and construction industry
that closely related to government initiatives is also expected to
have a direct impact on the skyrocketing revenues of the global
waterproofing admixtures market. In the coming years, the surging
demand for the renovation of old structures and new ones is also
projected to propel the uptake of waterproofing admixtures.
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Demand
for Conventional Waterproofing to Shadow Progress of Global Market
The
unwavering popularity of conventional waterproofing methods is
expected to weigh down on the global waterproofing admixtures.
Established perceptions of traditional waterproofing methods such as
lime terracing, bituminous treatment, and box-type waterproofing are
expected to slow down the growth rate of global market. Furthermore,
limited awareness among consumers about the products available in the
global market is also likely to hamper the overall market. Analysts
anticipate that the high cost of material will also limit the
acceptance of their method and products in the global market.
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Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
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