The global waterstop marketis expected to exhibit robust growth over the forecast period due to the growing demand from the construction industry all over the world. The new report from Market Research Future (MRFR) examines the global waterstop market and presents a comprehensive overview of the major drivers and restraints affecting the growth trajectory of the market. The leading players operating in the global waterstop market are also profiled in the report in order to provide readers with a complete overview of the competitive dynamics of the market. The future growth trajectory of the global waterstop market is predicted with the help of solid analysis of a reliable historical database about the market. Accurate predictions are made regarding the growth rate of the market over the forecast period and the major drivers propelling it.
Waterstops are used to seal concrete joints and make them waterproof. The global waterstop market is mainly driven by the growing construction industry in developed as well as developing countries around the world, as the demand for components such as waterstops has grown organically with the growing demand for residential and commercial construction. The construction industry has been driven in recent years by the growing urbanization in developing countries, which has driven the demand for residential as well as commercial construction. As the number of people flocking to urban areas in countries such as Brazil, Mexico, Argentina, South Africa, Nigeria, Egypt, Morocco, Tunisia, India, China, Indonesia, Malaysia, and South Korea is likely to grow over the coming years due to the increasing economic opportunities in these cities, the demand for residential projects and the various components of residential construction is likely to grow, thus propelling the waterstop market in the region.
Lack of consumer awareness is the major restraint against the global waterstop market. However, with increasing awareness about water damage to buildings, the demand for waterstops is likely to grow over the forecast period.
Leading players in the global waterstop market include Mapei Construction Products India Pvt. Ltd., Hengshui Jingtong Rubber Co. Ltd., Visqueen Building Products, Greenstreak Group Inc., BoMetals Inc., Foshan Nanhai Fufujing Plastic Hardware Company Limited, Emagineered Solutions Inc., Krystol Group, Henry Company, and Trelleborg Ridderkerk BV.
Key players in the global waterstops market are likely to experiment with different materials for manufacturing waterstops, as research in the fields of material science and plastic composites has grown rapidly over the last decade, creating the opportunity for the use of various materials in the production of waterstops. Mergers and acquisitions are also likely to be common in the global waterstop market over the forecast period, as leading players look to acquire new players with innovative technologies and products.
The global waterstop market is segmented on the basis of material, type, and region.
By material, the global waterstop market is segmented into PVC, rubber, and others.
By type, the global waterstop market is segmented into external, internal, and expansion.
The growing construction industry in Asia Pacific is likely to drive the growth of the waterstop market in the region over the forecast period, making it the largest regional segment of the global market. The growing construction industry in Asia Pacific is centered on urban areas in rapidly developing economies such as China, India, South Korea, Philippines, Indonesia, Malaysia, Singapore, and Thailand, as growing urbanization has driven rural immigration, necessitating the construction of apartment complexes.
With the growing population comes the growing need for commercial and infrastructural construction to fulfill the various needs of the population, further driving the construction industry in the region. Rising expenditure on infrastructure construction is likely to be a major driver for the construction industry in this region over the forecast period. The increasing government intervention in safeguarding infrastructure against water damage and other types of environmental damage is likely to be a major driver for the waterstop market in Asia Pacific over the forecast period.
North America, followed by Europe, are also likely to hold a significant share in the global waterstop market over the forecast period. Increasing construction activities in the Middle East could be a key driver for the waterstop market in the rest of the world market.
Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.
Follow Our LinkedIn Page: https://www.linkedin.com/showcase/ict-mrfr/