PUNE, INDIA, April 16, 2018 /EINPresswire.com/ — WiseGuyReports.com with their unique quality of simplifying the market research study, presents a deep diving study report “Global Waterproofing Chemicals Market Research Report – Forecast to 2023”
The global waterproofing chemicals market is projected to expand at a robust CAGR of 9.86%, and is estimated to reach USD 32,915.00 million by the end of 2023. The major factors responsible for healthy growth trajectory of the market are, rapidly increasing demand for the waterproofing chemicals from steadily growing construction activities (especially in developing countries), growing demand from roofing and walls application, the cost-efficiency of the product in longer run and expanding scope of applications in the emerging applications such as landfill and water resource management.
There is a great opportunity for emerging applications such as the landfill and water management sectors. This is anticipated to further boost the growth of the global waterproofing chemicals in the near future.
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The prominent players in the global waterproofing chemicals market are BASF SE (Germany), Drizoro S.A.U. (Spain), DowDuPont (The U.S.), RPM International Inc. (The U.S.), Pidilite Industries Ltd. (India), Mapei S.p.A (Italy).
Major Highlights of Reports:
The global waterproofing chemicals market is projected to reach USD 32,915.00 million by 2023 at a CAGR of 9.86%. Asia Pacific is accounted for the largest share due to high penetration of major end-use industries in the region.
China is the largest market not only in Asia Pacific but also in the global market. Bitumen held over 52% of the market in 2016 owing to its easy availability and relatively low price. Roofing and walls together hold more over 50% share of the market and is expected to be the dominant end-user for waterproofing chemicals market across all regional segments during forecast period.
Geographic Analysis of the Report
The global waterproofing chemicals market has been estimate to grow at a CAGR of 9.86% during the forecast period 2017-2023. Geographically, Asia Pacific is dominating the market due to growth of major end use industries such as building & construction, in the region.
Based on geo-economic scenario, the global waterproofing chemicals market is spanned across the five major regions, namely Asia Pacific, North America, Europe, the Middle East & Africa and Latin America. Among these regions, Asia Pacific accounted for the major share of the market, as of 2016.
The primary factor favoring the dominance of Asia Pacific is the rapid urbanization and industrialization occurring in the emerging economies in this region such as India, China, South Korea, and Malaysia. Following Asia Pacific, North America held the second largest share of market, in 2016. This region is projected to be pegged at USD 7,201.60 million by the end of 2023.
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Source: EIN Presswire