Billions of dollars are spent every year to minimize the damaging and costly effects of water intrusion in commercial construction. Principia Consulting considers that waterproofing products play a major role in preserving buildings and cutting maintenance costs and have been undergoing rapid growth and increased demand. According to Transparency Market Research, the global waterproofing chemicals market, valued at USD 7,669 million in 2015, will exhibit a healthy 5.1 percent CAGR over the period between 2016 and 2024. If the number holds true, the market is anticipated to reach b USD 12,335.2 million by 2024.
The report adds that admixtures, a chemical added to concrete to improve the surface and performance efficiency makes an important component of waterproofing. Waterproofing admixtures block pores by reducing pore diameter, further creating millions of fibers or nanocrystals that get accumulated in capillary pores of concrete, thus preventing the passage of water. Zion Research classifies waterproofing admixture into three types: crystalline, pore blocking and other types. Crystalline waterproofing and pore blocking waterproofing systems are two versatile types widely used types of waterproofing use in construction sector globally. The crystalline waterproofing systems is used to waterproof and regenerate leaky water tanks, retaining walls and swimming pools, while the pore blocking waterproofing system is mainly applied to repair and waterproof roofs and other exteriors. As stated by Transparency Market Research, waterproofing admixtures, when blended into the concrete mix, change its physical and chemical properties, providing protection from physical and chemical damage thus improving durability and comprehensive strength of the concrete. Besides protection from adverse environment conditions, waterproofing admixtures deliver excellent surface finish, prevent the penetration of corrosion-causing materials, offer resistance from hydrostatic pressure and self-sealing of micro-cracks. Cohesiveness in concrete mix, less permeability, shrinkage reduction and enhanced compactness are key benefits of using waterproofing admixture, the report adds. Industries that use admixtures include the building and construction industry, the transportation industry and the development and repair of construction material.
“The waterproofing admixture market in the Middle East & Africa is also expanding at a fast pace due to infrastructural development”
Increasing demand from the building and construction industry is an important factor affecting the waterproofing market growth. Other factors include a growing economy in the developing regions, rapid urbanization in developing regions and population growth. Increased use of ready-mix concrete in the construction industry is likely to open new opportunities for the waterproofing admixture market. A global outlook on the admixture market projects that Asia Pacific will hold major share of the global waterproofing admixture market during the coming years. The waterproofing admixture market in the Middle East & Africa is also expanding at a fast pace due to infrastructural development as per a recent report by Transparency Market Research. The market in this region is expected to exhibit positive growth trend in the next few years. The waterproofing admixture markets in developed regions such as North America and Europe witness comparatively low CAGR. Sluggish economic growth in these regions accounts for slow growth of the waterproofing admixture market.
ACW Content & Research Team