Waterproofing Chemical Market to Hit US$6.49 Billion by 2034

Extensive use of waterproofing chemicals to safeguard sensitive parts and interiors of vehicles against water damage, says Fact.MR in its new market study.

ROCKVILLE PIKE SUITE, ROCKVILLE, UNITED STATE, May 16, 2024 /EINPresswire.com/ -- With constantly rising construction and infrastructure development activities and stringent building safety standards across the world, the global waterproofing chemical market (防水化学市場) is estimated to reach a value of US$ 4.43 billion and is projected to advance at 3.9% CAGR between 2024 and 2034.

Waterproofing chemicals provide barriers in structures, preventing water or moisture entry. Waterproofing chemicals form a barrier preventing water intrusion to enhance the durability of a structure or surface. This aids in the maintenance of a strong building structure. Sales of bitumen, especially for roofing applications, are rising because it is cost-effective and easy to apply. Demand for bitumen is the result of the increasing need for long-lasting and reliable roofing solutions in commercial and residential constructions.

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Key Market Takeaways

The global waterproofing chemical market is poised for substantial growth, with projections indicating its value to soar to US$6.49 billion by the year 2034. In 2024, North America is anticipated to hold a significant portion of the market share, accounting for 28.6%. Meanwhile, the East Asia market is on a steady trajectory, expected to escalate from US$1.62 billion in 2024 to US$2.49 billion by 2034. China, in particular, is projected to dominate the East Asia region, capturing 57.3% of the market share by 2034. The construction sector is set to be a key driver, with waterproofing product applications forecasted to grow at a notable 4.9% compound annual growth rate (CAGR) through 2034. Additionally, the automotive industry is poised to play a significant role, with sales of waterproofing chemicals projected to reach US$1.23 billion by 2034. South Korea's market is expected to witness robust expansion, with a forecasted CAGR of 6.2% through 2034, indicative of the region's promising growth potential in the waterproofing chemical sector.

“Regular maintenance is essential for preserving the integrity of structures. Growing emphasis on inspections and repairs to ensure long-term protection of infrastructure elements is driving waterproofing chemical market growth,” says a Fact.MR analyst.

Increasing Application of Waterproofing Chemicals in Construction, Automotive, and Textile Sectors

Waterproofing chemicals are used in roofs, foundations, basements, and walls in the construction sector. The automotive sector uses waterproofing chemicals on seals, gaskets, connectors, and underbody coatings to prevent water damage to vehicle components, interiors, and electronics. This improves their strength and ability to resist corrosion.

In the textile sector, waterproofing chemicals are widely used to protect clothes against rain, snow, and moisture. It makes fabrics and garments water-repellent or waterproof. These chemicals are applied to outdoor apparel, sportswear, workwear, tents, and technical textiles. Waterproofing chemicals play a crucial role in the marine sector by protecting boats and offshore structures from water damage. Applied to hulls, decks, and other surfaces, these sealants prevent water ingress and corrosion, helping maintain the structural integrity of vessels and installations over time.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the waterproofing chemical market, presenting historical demand data (2018 to 2023) and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product type (bitumen, PVC, EPDM, TPO, PTFE), technology (membranes, liquid, cementitious), and end-use industry (construction, infrastructure, automotive, textiles), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

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