November 20, 2018
WELLESLEY, Mass., Nov. 20, 2018 – Due to changing consumer preference, increasing consumption of water-resistance chemicals in building development, and the multi-functionality of waterproofing chemicals in the food and beverage, water storage and pharmaceutical industries, the global market for waterproofing chemicals is peaking, according to a new report from BCC Research.
In 2016, the global market for waterproofing chemicals was worth $9.0 billion. BCC Research estimates that it will reach a value of $12.3 billion by 2023, indicating a compound annual growth rate (CAGR) of 5.4%, according to Global Waterproofing Chemicals Market and Technologies Through 2022.
The waterproofing chemicals market is also categorized into three major systems: preformed membranes, coatings and integral systems. The preformed membranes held the largest share of the waterproofing chemicals market in 2016. The preformed membrane segment was valued at $6.2 billion in 2016 and is expected to reach $8.4 billion by 2022, at a CAGR of 5.2% over the forecast period (2017-2022).
“Europe and North America follow the Asia-Pacific region in the waterproofing chemicals market. Europe has a well-developed infrastructure that requires quality care,” said report author, Sangeeta Rai. “Also, the Western European countries such as Germany, France, and the U.K. are continuously involved in constructing buildings in sectors such as healthcare, hotels, and manufacturing, which further increases the demand for construction chemicals, including waterproofing products, in the region.”
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Global Waterproofing Chemicals Market and Technologies Through 2022( CHM084A )
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