ALBANY, New York, January 23, 2019
ALBANY, New York, January 23, 2019 /PRNewswire/ --
Transparency Market Research (TMR) witnesses the global waterproofing admixture market has a highly consolidative vendor landscape. Some of the companies operating in the global waterproofing admixture market are SIKA AG, Cemex, Mapei S.p.A, and BASF SE. These companies are focusing on developing marketing strategies for the expansion of geographical reach from developing countries especially from the Asia Pacific.
According to TMR, the global waterproofing admixture market is expected to attain a value of US$4.9 bn by the end of the year 2024 rising with a CAGR of 7.9% over the forecast period from 2016 and 2024.
On the basis of product, the global waterproofing admixture market is dominated by the crystalline segment and is estimated to account the share of around 46.7% by the end of 2024. Based on the region, Asia Pacific dominated the market and is expected to dominate the market over the forecast period. The region is expected to account for 64% of the share by the end of 2024.
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Advantages of Using Waterproofing Admixtures to Propel its Demand
Waterproofing admixtures reduce the permeability of opposing water entrance and lowering water absorption into concrete. Waterproofing admixtures enhance toughness and lower the maintenance cost for some time, which is increasingly demanding for the waterproofing admixture. Additionally, the material is used for the redesigning of old structures and mainly for maintaining old structures is boosting the adoption of waterproofing admixtures and likely to propel the growth of the waterproofing admixtures market.
Increasing disposable income coupled with growing expenses on the development of the existing residential and professional premises is playing a significant role in fuelling the growth of the global waterproofing admixtures market. Additionally, growing advancement in the new multifamily residential schemes is contributing to propel demand for the waterproofing admixtures and is expected to fuel the growth of the market. The aforementioned factors are expected to continue to propel the growth of the market over the forecast period.
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Strict Government Regulation on Waterproofing Methods for Lowering VOCs to Restrain Growth
Despite these factors, circumstances from the consent and have imposed strict government controls on the emission of VOCs and carbon dioxide is restraining growth of the global waterproofing admixtures market. Additionally, surging customer awareness about benefits due to the usage of waterproofing admixtures especially in the developing regions is restraining the growth of the global waterproofing admixtures market. Furthermore, regular waterproofing techniques are limiting the growth of the global waterproofing admixtures market. Nonetheless, growing acceptance from manufacturers of the customizes waterproofing admixtures which are offering lucrative opportunities for growth of the global waterproofing admixtures market.
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This information is encompassed in the report by TMR, titled "Waterproofing Admixture Market (Product - Crystalline and Pore-blocking; Application - Residential, Commercial, and Infrastructure) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
For the study, the waterproofing admixture market has been segmented as follows:
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