The global waterproof coating market was valued at US$33.368 billion in 2019 and is expected to grow at a CAGR of 5.16% over the forecast period to reach a market size of US$47.455 billion by 2026.
An object coated with a waterproof coating remains unaffected by moisture and resists the penetration of water under certain conditions. Various industries such as chemical, furniture, automobiles, and building & construction use these coatings. They play a vital role in providing more protection and enhancing the aesthetics of products. They are commonly used in tunnels, bridges, buildings, and road construction.
Some of the factors that boost the market growth are the increasing demand for waterproof coatings for building exteriors, advancements in support systems, and improved technologies. In addition to the aforementioned factors, growth in the building-and-construction industry, rapid industrialization, and continued global economic recovery are major contributors to market growth. Generally, the main end-users for water-proof coatings are residential or commercial infrastructures. Meanwhile, automotive & aviation account for the biggest revenues from water-proof coatings. The marine, energy, and electronics industries demand these coatings as well.
Future growth prospects of the market will be enhanced by the development of unique product formulation technologies and products. Additionally, the market is driven by the increasing need for eco-friendly coatings. However, fluctuations in raw materials prices and unstable supplies are the factors that are expected to harm the market growth.
Waterproof coatings are expected to grow significantly in the coming years due to their increasing demand across various industries. As a result of the increasing population and rapid urbanization, waterproof coatings have become more popular around the world, which will aid in the growth of the market. In addition, the increased commercial and residential infrastructure around the world is expected to result in a rise in demand for waterproof coatings and thereby drive growth in the market. Research and development initiatives based on end-user industries have led to significant reductions in the costs of waterproofing materials. A growing awareness of structural damage from water infiltration is expected to spur demand for these products substantially in the future
Today, 4.2 billion people - more than 55% of the global population - live in cities. By 2050, this proportion will rise to 68%. In the years to come, more than 7 of 10 people on this planet will live in cities as urban populations double. Urbanization, which generates more than 80% of global GDP, can contribute to sustainable growth if managed well by increasing productivity, allowing for innovation and new ideas to emerge. The United Nations estimates that by 2050, urbanization, the gradual shift of human settlement from rural to urban areas, combined with the overall growth of world population, will add another 2.5 billion people to urban areas. Nearly 90% of this growth will occur in Asia and Africa. Because of the dangers of water and wet surfaces, there is an increase in the demand for high-quality waterproofing products. With the improved standard of living and gradual rise in per capita income, the demand for waterproof coating is expected to rise (source: World Bank & UN)
Typically, water-resistant coatings are applied to the surface of residential and commercial buildings. The demand for waterproof coatings is expected to grow worldwide, due to the growth in residential and commercial infrastructure. The construction industry is evolving, and for building contractors to remain competitive, they need to provide their customers with longer-lasting, high-performance solutions. A good waterproofing system is crucial for maintaining the health and comfort of residents as well as preventing structural damage. In building construction, water damage can jeopardize projects, infiltrate cracks and cause structural problems. Therefore, homeowners and contractors alike strive to prevent exposure to rainwater and other elements.
Environmental and human health risks are associated with the use of waterproofing chemicals. When sprayed, it is potentially dangerous to both the user and nearby workers. Fluorinated compounds in these chemicals can cause lung trauma, and other conditions related to the respiratory system when exposed to them. Volatile fumes can be hazardous for workers as well. Health issues, such as nasal irritation may result from prolonged exposure to these fumes. Therefore, many workers in the industry, especially in emerging economies, are at risk. As a result of the presence of diluents, solvents, and others in waterproofing systems, toxic fumes are also released into the environment.
A worldwide outbreak of COVID-19 will have a long-term economic impact. The majority of contractors have closed down their projects due to the pandemic. The decision has had an adverse effect on many subcontractors who heavily depend on construction processes. In response to this outbreak, many major industries are experiencing serious disruptions including breaks in the supply chain, technology event cancellations, and office closings. Waterproofing Coating market growth is impacted by a decline in the global economy, factory closings, and obstacles in the supply chain due to the overall market breakdown caused by COVID-19.
Some of the factors that boost the market growth are the increasing demand for waterproof coatings for building exteriors, advancements in support systems, and improved technologies. In addition to the aforementioned factors, growth in the building-and-construction industry, rapid industrialization, and continued global economic recovery are major contributors to market growth. Generally, the main end-users for water-proof coatings are residential or commercial infrastructures. Meanwhile, automotive & aviation account for the biggest revenues from water-proof coatings. The marine, energy, and electronics industries demand these coatings as well.
Future growth prospects of the market will be enhanced by the development of unique product formulation technologies and products. Additionally, the market is driven by the increasing need for eco-friendly coatings. However, fluctuations in raw materials prices and unstable supplies are the factors that are expected to harm the market growth.
Waterproof coatings are expected to grow significantly in the coming years due to their increasing demand across various industries. As a result of the increasing population and rapid urbanization, waterproof coatings have become more popular around the world, which will aid in the growth of the market. In addition, the increased commercial and residential infrastructure around the world is expected to result in a rise in demand for waterproof coatings and thereby drive growth in the market. Research and development initiatives based on end-user industries have led to significant reductions in the costs of waterproofing materials. A growing awareness of structural damage from water infiltration is expected to spur demand for these products substantially in the future
Growth Factors:
Urbanisation:
Today, 4.2 billion people - more than 55% of the global population - live in cities. By 2050, this proportion will rise to 68%. In the years to come, more than 7 of 10 people on this planet will live in cities as urban populations double. Urbanization, which generates more than 80% of global GDP, can contribute to sustainable growth if managed well by increasing productivity, allowing for innovation and new ideas to emerge. The United Nations estimates that by 2050, urbanization, the gradual shift of human settlement from rural to urban areas, combined with the overall growth of world population, will add another 2.5 billion people to urban areas. Nearly 90% of this growth will occur in Asia and Africa. Because of the dangers of water and wet surfaces, there is an increase in the demand for high-quality waterproofing products. With the improved standard of living and gradual rise in per capita income, the demand for waterproof coating is expected to rise (source: World Bank & UN)
Rapid infrastructural development:
Typically, water-resistant coatings are applied to the surface of residential and commercial buildings. The demand for waterproof coatings is expected to grow worldwide, due to the growth in residential and commercial infrastructure. The construction industry is evolving, and for building contractors to remain competitive, they need to provide their customers with longer-lasting, high-performance solutions. A good waterproofing system is crucial for maintaining the health and comfort of residents as well as preventing structural damage. In building construction, water damage can jeopardize projects, infiltrate cracks and cause structural problems. Therefore, homeowners and contractors alike strive to prevent exposure to rainwater and other elements.
Restraints
Health and environmental issues:
Environmental and human health risks are associated with the use of waterproofing chemicals. When sprayed, it is potentially dangerous to both the user and nearby workers. Fluorinated compounds in these chemicals can cause lung trauma, and other conditions related to the respiratory system when exposed to them. Volatile fumes can be hazardous for workers as well. Health issues, such as nasal irritation may result from prolonged exposure to these fumes. Therefore, many workers in the industry, especially in emerging economies, are at risk. As a result of the presence of diluents, solvents, and others in waterproofing systems, toxic fumes are also released into the environment.
Impact of COVID-19 on the Waterproof Coatings Market
A worldwide outbreak of COVID-19 will have a long-term economic impact. The majority of contractors have closed down their projects due to the pandemic. The decision has had an adverse effect on many subcontractors who heavily depend on construction processes. In response to this outbreak, many major industries are experiencing serious disruptions including breaks in the supply chain, technology event cancellations, and office closings. Waterproofing Coating market growth is impacted by a decline in the global economy, factory closings, and obstacles in the supply chain due to the overall market breakdown caused by COVID-19.
Competitive Insight:
- There are a number of players in the Waterproof Coating Market. Key companies continue to drive innovation and adopt digital transformations in most cases, however, the overall competitive ecosystem is dominated by market leaders as well as emerging players with niche offerings. Some of the major players of the market include Minerals Technology Inc., Soprema Group, Sika AG, and BASF SE.
- A greater share of the waterproof coating market will be held by Asia-Pacific in the coming years, especially in China, as well as fast-growing regions like India. The United States, in particular, will continue to play an important role that cannot be ignored. It is possible that any changes coming from the United States could influence the Waterproofing Coating market.
Segmentation:
By Application
- Commercial
- Industrial
- Infrastructure
- Residential
By Technology
- Cement-Based
- Crystalline
- Emulsified-asphalt
- Polyurethane
- Asphalt Modified Polyurethane
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- Italy
- Spain
- Others
- Middle East and Africa
- Israel
- Saudi Arabia
- Others
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
Table of Contents
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Waterproof Coatings Market Analysis, By Application
6. Global Waterproof Coatings Market Analysis, By Technology
7. Global Waterproof Coatings Market Analysis, By Geography
8. Competitive Environment and Analysis
9. Company Profiles
Companies Mentioned
- BASF SE
- Polycoat Products
- Nanotech Coatings
- The Valspar Corporation
- NeverWet, LLC
- CHEMISTIK PVT. LTD
- AkzoNobel
- DuPont
- PPG Industries
- Flosil Chemicals
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 123 |
| Published | September 2021 |
| Forecast Period | 2019 - 2026 |
| Estimated Market Value ( USD | $ 33.37 billion |
| Forecasted Market Value ( USD | $ 47.46 billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
