by The global Waterproofing Admixture Market is estimated to be valued at US$ 4.66 Bn or Billion in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Waterproofing admixture are chemical products added to concrete or mortar mixtures to make them waterproof. It fills the pores and capillaries in concrete and makes it denser, thereby preventing water or moisture from penetrating through it. Waterproofing admixtures help improve the durability and quality of concrete structures. They are widely used in building & construction activities for waterproofing of basements, retaining walls, tunnels, and other below-grade concrete structures. The growing construction sector around the world is fueling the demand for waterproofing admixtures.
Market key trends:
Rising popularity of green building initiatives is a key trend in the waterproofing admixture market. Green building refers to the practice of designing, constructing and operating buildings to minimize environmental impact. Green building involves utilization of environment-friendly and sustainable materials and waterproofing solutions. Concrete being one of the most widely used construction material, growing emphasis on green construction is augmenting the demand for eco-friendly waterproofing admixtures. Leading market players are focusing on development of bio-based and recyclable waterproofing solutions to capitalize on the green building trend.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the waterproofing admixture market is medium. Considerable capital investment and established distribution network of existing players pose entry barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to presence of large number of established players offering substitutable products. Buyers can negotiate on prices, however switching costs are low.
Bargaining power of suppliers: Suppliers have medium bargaining power as raw materials are commoditized but switching costs are low. Established players source raw materials from multiple suppliers to prevent complete dependence.
Threat of new substitutes: Threat from substitutes is low as waterproofing admixtures have no close substitute and have well-established application in construction industry.
Competitive rivalry: The competitive rivalry in the market is high due to presence of large number of international and domestic players offering similar products. Players compete based on product quality, pricing and innovation.
Key Takeaways
The global waterproofing admixture market is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing infrastructural development activities across the globe. The Asia Pacific region dominated the market in 2023 with over 35% share owing to rapid urbanization and economic growth in countries such as China and India.
Regional analysis: North America and Europe are also significant markets for waterproofing admixtures owing to mature construction industry and increasing residential repair and remodelling activities in these regions. Asia Pacific is expected to witness fastest growth rate during forecast period with China, India and other Southeast Asian countries expected to drive high demand.
Key players operating in the waterproofing admixture market are Dow Corning Corporation, Mapei S.p.A, RPM International, Sika A.G., BASF SE, W.R. Grace, Wacker Chemie A.G, Xypex Chemical Corporation, Fosroc International, Evonik A.G., Pidilite Industries. Key players are focusing on new product development and expansion in fast growing regions to gain higher market share.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
