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Raw Material – Segment Analysis
Application – Segment Analysis
Roofing and walls segment held the largest share in the waterproofing solutions market in 2019 and is growing at a CAGR of 8.3% Leakage in buildings, especially roofs and walls has been a major concern worldwide for years. Water-ponding or the stagnation of water due to rainfall on roofs, and wall causes deterioration of concrete materials, which leads to wreck roof which may cause the entire building to wreck. Thus, in order to avoid such risks waterproofing solutions are widely used in roofs and walls. The usage of waterproofing solutions offers several benefits, such as superior fire and wind resistance, very high tensile strength, and waterproofing characteristics.
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Geography – Segment Analysis
Asia Pacific held the largest share in the waterproofing solutions market in 2019 up to 37%, owning to increasing government investments on infrastructure developments primarily in countries such as China, Indonesia, India, and Malaysia. The growth in infrastructure projects is mainly due to an expanding population, resulting in the need for more residential and commercial buildings for various purposes. Construction projects such as ‘100 smart cities’ and ‘Housing for All by 2022’ in India are influencing waterproofing solutions demand. In addition, in 2019, China government invested 1.9 billion on 13 public housing projects. Therefore, rising construction in these countries are driving waterproofing solutions market growth in Asia Pacific region.
Drivers – Waterproofing Solutions Market
Waterproofing solutions are suitable for mining applications due to their strong durability in exhaustive climates. The key applications of waterproofing solutions in mining industry is to prevent mine explosives and fuse, damaging from exposure to elements such as water and moisture. Waterproofing solutions are important for electrical substations in underground mines as it keep electrical equipment dry and free of corrosion. Waterproofing solutions are used in structures such as tunnels, mine shaft linings and dam walls. According to International Energy Agency (IEA), international coal trade grew by 4% in 2018, surpassing 1.4 billion tonnes. In addition, trade of other metals such as gold, aluminum, copper and iron ore are also increasing. Therefore, the growth in mining industry is supporting waterproofing solutions market growth,Booming construction industry in developing nations.
Construction is a high-risk industry that includes a wide range of activities, from infrastructure development to renovation that includes residential construction, bridge construction, road paving, and large-scale re-roofing jobs. The increase in these construction activities is creating additional demand in emerging economies such as China, India, and Japan for waterproofing solutions. Since the building & construction industry is stagnant in developed regions, waterproofing solutions are mostly required in these regions for applications related to repairs. However, the demand for waterproofing solutions is increasing in developing regions, with modern construction projects coming in.
Challenges – Waterproofing Solutions Market
Price and availability of raw materials are major factors that affect the price of the end products. The major challenge for the global waterproofing solutions market is the oscillating price trends of raw materials, which are fluctuating due to volatile energy prices, as most of the raw materials are petroleum-based. According to BP statistics, in 2018, average oil price increased to $71/ bbl from $54/bbl in 2017. Therefore, the fluctuation in oil prices are negatively affecting waterproofing solutions market growth. In addition, while applying waterproofing solutions such as the bitumen based membranes, workers can be exposed to volatile fumes. Extended exposure to these fumes may lead to health issues such as nasal irritation, bronchitis. Therefore, this factor may also affect waterproofing solutions market growth.
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