Crystalline Waterproofing Material Market REPORT OVERVIEW
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The global crystalline waterproofing material market size is expected to be USD 1994 million in 2022 and market is projected to touch USD 4728.02 million by 2031, exhibiting a CAGR of 9.0% during the forecast period.
To assist create impermeable concrete structures, a process called crystalline waterproofing develops crystals. For usage in above- and below-grade applications, BASF crystalline waterproofing technology is offered as a waterproof coating for concrete or as an integrated additive for concrete.
Waterproofing admixtures are applied to concrete structures to lower their permeability and make them waterproof in order to provide better protection. They increase structural durability and general maintenance procedures. The need for waterproofing admixtures in the building sector is driven by the requirement to increase the compressive strength and lifespan of concrete. The increased use of waterproofing admixtures to address the numerous concrete durability issues in both new and existing building projects is one of the key factors propelling the market.
COVID-19 Impact: Disrupted Supply Chains to Dent the Market Prospects
The global economic and social systems have been severely damaged by the COVID-19 pandemic. The illness has invaded the value and supply chains of several businesses, including the market for crystalline waterproofing materials. Lockdowns were implemented by the authorities in several places which led to the disruption of the supply chains. Lockdowns also affected the market various the end-users, including the construction industry. Slowdown in construction activity and infrastructure projects affected the crystalline waterproofing material market share negatively during COVID-19.
LATEST TRENDS
"Rapid Urbanization Will Fuel Market Expansion"
Commercial, infrastructural, and residential sectors have been separated out of the overall market for crystalline waterproofing materials. The primary market demand is anticipated to be met by the residential application. The popularity is explained by the continuously increasing need for different kinds of waterproofing additives in both old and new residential construction projects. The market for waterproofing admixtures is increasing as the housing sector expands, particularly in emerging nations. The rapid rate of urbanization in many parts of the world supports this. The increased use of crystalline materials is due to their appealing advantages in hydrostatic pressure management.
The market for crystalline waterproofing materials will also benefit from an increase in consumer buying power brought on by an increase in disposable income.
Crystalline Waterproofing Material Market Segmentation
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- By Type Analysis
By type, market is segmented into crystalline waterproofing coating and crystalline waterproofing admixtures. The crystalline waterproofing coating will dominate the market in the coming years.
- By Application Analysis
Based on applications, the market is classified into residential use and commercial use. The residential use segment will lead the global share through 2031.
DRIVING FACTORS
"Unique Properties to Support Market Growth"
In order to provide better protection, waterproofing admixtures are added to concrete buildings to lessen their permeability and make them waterproof. As a result, they improve the whole maintenance procedure and the durability of structures. The requirement to enhance the compressive strength and durability of concrete can be ascribed to the growing usage of waterproofing admixtures in the building sector. One of the main factors driving the market's growth is the increasing usage of waterproofing admixtures to solve the numerous concrete durability challenges in both old and new building projects.
Their employment is pertinent in these applications because of several important characteristics, including water reduction, improved hydrophobic action, superb pore reduction and blockage, and higher density. Understanding the mechanisms of physical and chemical deterioration brought on by water and fluid penetration opens the path for new product introductions and technological advancements in the crystalline waterproofing material market.
"Self-healing Behaviour to Push the Market Growth"
Crystalline is anticipated to dominate the market for waterproofing additives globally. Their ability to self-heal stems from the combination of patented active chemicals and cementitious material, which gives them the singular ability to fill even tiny gaps in concrete. The secondary pore-blocking admixtures for the other major segment have become more prominent. They work by creating an impermeable hydrophobic coating over concrete, which prevents water from penetrating it. The PRA category of Permeability-Reducing Admixture for Non-hydrostatic situations includes this product type (PRAN). Mineral oil, stearates, and derivatives of long-chain fatty acids are among the water-repelling compounds that are commonly included in pore-blocking admixtures. These factors will push the crystalline waterproofing material market growth.
RESTRAINING FACTORS
"Strict VOC Regulations to Hamper Market Prospects"
The fall in the crystalline waterproofing industry can be attributed to the adoption of governmental laws about VOC emission and the growth in consumer knowledge regarding waterproofing admixtures.
Crystalline Waterproofing Material Market REGIONAL INSIGHTS
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"Asia Pacific to Hold Notable Share Owing to Rising Construction Projects"
Due to the tremendous advancements achieved in the building sector, particularly in nations like China and India, Asia Pacific holds the largest share of the crystalline waterproofing material market. The regional market growth is attributable to rapid urbanization and a notable increase in the disposable incomes of individuals. Growing construction activity and infrastructure projects will positively influence the market growth over the forecast period.
On the other hand, the North America’s growing interest in multi-family housing will enable the regional market expand at a promising rate throughout the evaluation period. Over the previous several years, the demand for waterproofing admixtures in North America and Europe has slightly matured. Governmental laws governing VOC emissions and a growth in consumer knowledge of waterproofing admixtures are two factors limiting consumption. However, the possibility of high-performance concrete buildings in the local residential sector has given the demand in Europe a significant boost.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Xypex Chemical (Canada)
- Kryton (Canada)
- Sika A.G (Switzerland)
- Aquafin (U.S.)
- Fosroc (UK.)
- GCP Applied Technologies Inc (U.S.)
- BASF (Germany)
- Penetron (India)
- Oriental Yuhong (China)
- Schomburg (Germany)
- Wuhan Sanyuan (CN) (China)
- Guang Zhou Luibons (China)
- Supershield (India)
- Hycrete, Inc. (U.S.)
- Markham Global (New Zealand)
- Gemite Products (Canada)
- Cemix (Mexico)
- IPA Systems (U.S.)
- Dura Build Care (India)
- Velosit (U.S.)
REPORT COVERAGE
The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1994 Million in 2022 |
Market Size Value By |
US$ 4728.02 Million by 2031 |
Growth Rate |
CAGR of 9% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the crystalline waterproofing material market expected to touch by 2031?
Over the research period, the crystalline waterproofing material market is anticipated to reach USD 4728.02 million in 2031.
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What CAGR is the crystalline waterproofing material market expected to exhibit by 2031?
The crystalline waterproofing material market is expected to exhibit a CAGR of 9.0% by 2031.
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Which are the driving factors of the crystalline waterproofing material market?
Unique properties and self-healing behavior of the product are some of the driving factors of the crystalline waterproofing material market.
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Which are the top companies operating in the crystalline waterproofing material market?
Xypex Chemical, Kryton, Sika A.G, and Aquafin are some of the top companies operating the crystalline waterproofing material market.