The waterproofing chemicals market is expected to grow at a considerable rate in the future. It is likely to expand at around USD 7 billion by the end of 2011. Huge expansion in the waterproofing chemicals market owes to rising demand for waterproofing chemicals from consumer segments, such as automotives, packaging and others.
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The key factors driving the waterproofing chemicals market are the increasing application of these chemicals in automotives, construction, packaging and paints and coatings. However, strict laws regarding the release of VOCs (volatile organic compounds) in the environment and high risks associated with handling waterproofing chemicals are predicted to restrain the market.
The waterproofing chemicals market can be sliced into consumers, applications and geographies. The consumers market can be split into paints and coatings, packaging, construction, automotives and others. Others includes electronics and aerospace. The construction segment captured the largest market and is anticipated to show similar trends in the coming years.
This is due to improvements in the global construction industry. Packaging is the fastest growing market owing to rapid growth in Asia Pacific. The waterproofing chemicals market, on the basis of applications, can be divided into roofing, landfills & tunnels, walls, building structures and others. Geographically, the waterproofing chemicals market can be segregated into four major regions, including North America, Europe, Asia Pacific and ROW (rest of the world).
Asia Pacific was reported to be the fastest growing and largest waterproofing chemicals market. Emerging regions, such as China and India are the largest consumers of waterproofing chemicals. Increasing automotives and packaging industries in these regions are likely to augment further demand for the waterproofing chemicals market over the coming years.
Information Source: Radiant Insights