Waterproofing Chemicals Market is Likely to Clock a 5.1% of CAGR from 2016 - 2024
- Waterproofing Chemicals Market: Construction Industry to Build Monumental Growth
The waterproofing chemicals market is expected to register healthy growth in the near future, thanks to rising demand in construction industry. The waterproofing chemicals market is likely to grow at the CAGR of 5.10% during 2016-2024. The market is expected to reach a total valuation of US$12.3 bn by 2024 end. The waterproofing chemicals market stood at a modest US$7.6 bn.
The growing demand for waterproofing chemicals market in applications such as protection of buildings from leakage and seepage. Additionally, growing urbanization across the world and industrialization are further expected to drive demand for constructions. Moreover, rise in technology such as automation in manufacturing of the waterproofing chemicals are expected to increase their uptake and production simultaneously. Additionally, new technologies like big data are also making it easier to find new materials and combinations which make way for advancements in waterproofing chemicals. The reduction in costs due to mass manufacturing will also drive considerable growth in the waterproofing chemicals market.
- Waterproofing Chemicals Market
Waterproofing chemicals market is experiencing robust growth in construction, thanks to growing infrastructure developments across the world, especially in Asia Pacific. Additionally, the waterproofing chemicals market is witnessing a growing demand in new applications such as textiles, construction, leather, and automotive as well. The waterproofing chemicals play an important role in wearable goods like textile and leather items like bags. The chemicals help keep moisture away from important personal valuables and are expected to create new opportunities in the waterproofing chemicals market.
The information Presented in this Review is Based on Press-Release by TMR
In the construction industry, the waterproofing chemicals market is expected to play a key role in roofing applications. Major regional markets like North America are seeing a rise in home and office renovations. Additionally, roofing and renovation applications in general are growing in importance due to extreme climatic changes witnessed across the world recently. Additionally, regions like Asia Pacific are witnessing substantial increase in infrastructure developments. This is expected to create several opportunities for waterproofing chemicals market.