The lifespan of building infrastructure is anticipated to be high, as buildings are constructed with the motive of sustainability and durability. Thus, the overall efficiency of materials incorporated in a building structure becomes crucial during construction. Concrete is one of the most utilized materials in the construction industry, owing to its versatility, low cost, high strength, abundance, and easy availability. Thus, the demand for concrete is higher than other materials such as wood and steel, among others. The significant advantage of encompassing concrete is that it is very flexible and can be put into any shape or size. It is mixed in the respective molds in a semi-liquid stage, and it becomes durable and hard after it is dried.
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The deterioration of the concrete majorly occurs because of the slow weakening and corrosion of different raw materials mixed with it during construction time. The minimalization of the concrete weakening is one of the major agendas in the construction industry. It has been analyzed that the presence of moisture in the concrete fastens its deterioration. Thus, making the concrete waterproof can significantly reduce its degradation and thereby contribute to its overall enhanced durability and sustainability. An integral waterproofing compound is a feasible option in this regard. It is applied to the external surface membrane of the concrete. The application of an integral waterproofing compound is a labor-intensive and time-taking process. It restricts the movement of water by blocking its path and creating a protective surface layer on the natural pores and micro-cracks present in the concrete.
An integral waterproofing compound is one of the significant admixtures used in the construction industry. The major types of integral waterproofing compounds are liquid-based and powder-based compounds. The demand for integral waterproofing compounds has grown rapidly because of their benefits, such as water retention, corrosive resistance, reduced shrinkage, and improved workability. This growth in the demand for both types of compounds is expected to continue from 2019 to 2024. As the construction industry is growing at a moderate rate, manufacturers are looking to explore new chemicals that are sustainable and can be used in the production of integral waterproofing compounds.
The global integral waterproofing compound market is growing at a moderate pace, owing to the enhanced functionality and low prices. The level of functionality required in the construction industry is determined by the type of end-use, for instance, in terms of whether it is for residential construction, non-residential construction, and civil engineering. Additionally, due to an increase in the variety of compounds available for different end-use in recent years, there are several options for a compound that offers strength, durability, flexibility, workability, corrosion resistance, and cohesiveness.
The competitive landscape of the global integral waterproofing compound market includes different strategies undertaken by the manufacturers to gain a significant market presence. Out of many, certain strategies such as expansions, product launches, and partnerships, and collaborations, have been more prevalent among manufacturers. Among all the strategies, business expansions and product launches dominated the competitive landscape during 2016-2019, making them the most widely adopted growth strategies by integral waterproofing compound manufacturers.
The key players operating in this market have increasingly expanded their businesses to increase their market reach. Driven by the moderate growth of the construction industry, many distinguished players, such as BASF SE, Sika AG, and Arkema, invested in expanding their business between 2016 and 2019. For instance, in April 2016, Arkema expanded its production facility in the Philippines to cater to the growing demand in the Asia-Pacific region.
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Key Questions Answered in the Report:
• What are the trends in the global integral waterproofing compound market across different regions?
• What are the major driving forces that tend to increase the demand for the global integral waterproofing compound during the forecast period, 2019-2024?
• What are the major challenges inhibiting the growth of the global integral waterproofing compound market?
• What was the revenue generated by the integral waterproofing compound market by end-use in 2018, and what are the estimates by 2024?
• Which type (liquid-based and powder-based) of the global integral waterproofing compound is expected to dominate in the coming years?
• What is the consumption pattern of each material used in the global integral waterproofing compound market?
• Which are the key players in the global integral waterproofing compound market?
• What are the new strategies adopted by the existing market players to make a mark in the industry?
• What major opportunities do the integral waterproofing compound manufacturers foresee?
• What is the competitive strength of the key leading players in the global integral waterproofing compound market?
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