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Rubber Waterstop Market REPORT OVERVIEW
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The global rubber waterstop market size was USD 178.2 million in 2020 and the market is projected to touch USD 213.6 million by 2027, exhibiting a CAGR of 2.6% during the forecast period.
A rubber waterstop is a construction material used to prevent the passage of water through joints in concrete structures, such as expansion joints, contraction joints, and construction joints. Waterstops are crucial in ensuring the waterproofing and durability of structures, especially in areas prone to water exposure.
The rubber waterstop market is poised to gain substantially demand for the product primarily due to the expanding infrastructure development and increasing urbanization particularly, in developing nations. Along with this, the growth of the global population is expected to influence the growth of the market with rise in construction activities for commercial and residential building in locations that require waterproofing and drainage system. Additionally, regulatory standards and building codes related to water resistance are critical factors which ensure compliance and the use of effective waterproofing solutions. Also, technological advancements in material science impact the quality and performance of rubber waterstops, with innovations focusing on durability and ease of installation is likely to boost the market demand during this forecast.
COVID-19 Impact: Lower Demand for Rubber Waterstop Curbed the Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels. This global health crisis impacted several industries negatively including rubber waterstop market. The main factor that caused challenges for the market growth during the pandemic was the lack of demand for rubber waterstop due to lockdown limitations on constructions, watersupply department and other applications industries. Consequently, the market experienced slowdown in demand and revenue during the pandemic. While the industry may eventually recover as the situation improves, the immediate impact of COVID-19 was predominantly negative for the global market.
LATEST TRENDS
"Trend of Miniaturization and CubeSats to Expand Market Potential "
The market is anticipated to grow significantly with several driving factors and emerging trends are reshaping the market dynamics. One such trend is the continuous advancements in material science and manufacturing technologies that are influencing the evolution of rubber waterstops. Innovations in materials and manufacturing processes contribute to improved formulations and designs, addressing key aspects such as durability, flexibility, and ease of installation. Advanced materials with enhanced properties, such as increased resistance to wear, tear, and weathering, can lead to longer-lasting rubber waterstops. Additionally, innovations in manufacturing technologies may result in more efficient production processes, potentially reducing costs and increasing the overall quality of the products. Besides, the adoption of sustainable solutions reflects a broader industry shift towards more environmentally responsible and socially conscious building practices which addresses concerns related to resource depletion and environmental impact.
Rubber Waterstop Market SEGMENTATION
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- By Type
Based on type the global market can be categorized into Dumbbell Type and Center Bulb Type.
Dumbbell Type: The dumbbell-type rubber waterstop has a cross-sectional shape that resembles a dumbbell, with a central narrow section (similar to the handle of a dumbbell) and larger, rounded ends. The design of the dumbbell type allows for flexibility and movement accommodation in two directions (bidirectional movement). This makes it suitable for joints where lateral or shear movements may occur. The central narrow section provides the necessary flexibility, while the rounded ends help maintain a watertight seal.
Center Bulb Type: The center bulb-type rubber waterstop has a cross-sectional shape with a prominent bulb or ridge along the center of its length. The central bulb in this design is intended to provide a compression seal, making it effective in joints where vertical movement is the primary concern. The bulb compresses against the joint surfaces, creating a tight seal and preventing the passage of water. Center bulb-type waterstops are often used in construction joints, contraction joints, and other joints where vertical movement is expected but lateral movements are minimal. They are suitable for applications such as water tanks, basements, and other structures with vertical joints.
- By Application
Based on application the global market can be categorized into Civil Engineering, Water and Sewage Treatment Plant, Swimming Pools, Water Reservoirs, and Others.
Civil Engineering: Rubber waterstops are extensively used in civil engineering projects to provide waterproofing solutions for joints in structures such as buildings, bridges, highways, and other infrastructure. They play a crucial role in preventing water ingress and ensuring the structural integrity and durability of the construction.
Water and Sewage Treatment Plant: This application segment involve the handling of large volumes of water. Rubber waterstops are utilized in these facilities to seal joints in concrete structures, including tanks, channels, and basins.
Water Reservoirs: Water reservoirs, whether for drinking water storage or irrigation purposes, often use rubber waterstops in construction joints and expansion joints. These waterstops help in preventing water from seeping through joints, ensuring the storage facility's integrity and preventing contamination.
DRIVING FACTORS
"Rapid Urbanization and Population Growth to Promote Market Demand"
One of the leading driving factors of the rubber waterstop market growth is the rapid urbanization and growing population. The global trend of urbanization and population growth leads to increased construction activities. As more buildings and infrastructure projects are undertaken in urban areas, the demand for rubber waterstops rises to address waterproofing needs in various construction joints.
"Growing Infrastructure Development to Raise to Growth of the Market"
Additionally, ongoing and planned infrastructure development projects, such as bridges, tunnels, highways, and dams, create a significant demand for rubber waterstops. These projects often require effective waterproofing solutions to ensure the longevity and durability of structures. As a result, these factors are expected to drive the growth of the market over this projection timeframe.
RESTRAINING FACTOR
"High Cost of the Material Can Deter Market Expansion"
Despite the strong market demand, the high cost of these waterstops can be a confining factor for the market expansion. Because, the cost of high-quality rubber waterstop materials and installation can be higher than other alternatives products thus, the factor may limit adoption, especially in projects with tight budgets.
Rubber Waterstop Market REGIONAL INSIGHTS
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"Asia Pacific is Likely to Lead the Market Due to Rapid Urbanization in Developing Countries"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, Middle East, and Africa.
The Asia Pacific is projected to be the fastest growing region in the market for rubber waterstop. Several factors are attributed to raise the strong demand for the rubber waterstops such as a large papulation, expanding infrastructure development, and growing urbanization that promotes modern infrastructure for commercial and residential sectors which require well planned sewage and drainage system. In terms of market revenue, Asia Pacific region is anticipated to hold the majority of the rubber waterstop market shares. Also, the rapidly growing economy in countries such as China and India are playing a crucial role in the production and consumption of the rubber waterstop market.
KEY INDUSTRY PLAYERS
"Key Players Invest in R&D to Develop Innovative Products"
Notable influential companies in the rubber waterstop market, including Sika, Trelleborg, Pozament (Tarmac), Okabe, GCP Applied Technologies, Corkjoint, a.b.e.® Construction Chemicals, and others, stimulate market growth through factors such as continuous product innovation, strong market presence, efficient distribution networks, and technical support initiatives. Their contributions in terms of developing advanced solutions, brand recognition, partnerships, and adherence to industry standards influence the demand for rubber waterstops. These companies play pivotal roles in shaping market trends and preferences, with their strategies in product development, market expansion, and compliance with regulations impacting the adoption of rubber waterstop products in the construction industry.
List of Market Players Profiled
- Sika (Switzerland)
- Trelleborg (Sweden)
- Pozament(Tarmac) (U.K.)
- Okabe (Japan)
- GCP Applied Technologies (U.S)
- Corkjoint (Australia)
- A.b.e.® Construction Chemicals (South Africa)
- Estop (Singapore)
- Fengze Holding (China)
- Hengshui Jingtong Rubber (China)
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 178.2 Million in 2020 |
Market Size Value By |
US$ 213.6 Million by 2027 |
Growth Rate |
CAGR of 2.6% from 2020 to 2027 |
Forecast Period |
2022-2027 |
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 rubber waterstop market expected to touch by 2027?
The global rubber waterstop market is expected to reach USD 213.6 million by 2027.
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What CAGR is the rubber waterstop market expected to exhibit by 2027?
The rubber waterstop market is expected to exhibit a CAGR of 2.6% by 2027.
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Which are the driving factors of the rubber waterstop market?
Rapid urbanization, population growth, and growing infrastructure development are some of the driving factors of the rubber waterstop market.
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What are the key segments of the rubber waterstop market?
The rubber waterstop market segmentation that you should be aware of, which includes, based on the type of the rubber waterstop market is classified as dumbbell type and center bulb type. Based on application the rubber waterstop market is classified as civil engineering, water and sewage treatment plant, swimming pools, water reservoirs, and others.