Jun 5, 2020 12:04 AM ET
iCrowd Newswire – Jun 5, 2020
The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
Waterproofing chemicals are largely used in the construction sector and a steady growth in this sector has boosted the growth prospects of the global waterproofing chemicals market. Waterproofing chemicals are mainly used in protecting buildings from leakage and seepage that is caused to due to the ingress of water and moisture. As the pace of industrialization and urbanization is increasing the world over, there is a boost to the construction sector as well, thereby contributing to the positive growth of the global waterproofing chemicals market. Moreover, a rise in the labor wages and cost of raw materials is also acting positively on the global waterproofing chemicals market. On the other hand, as infrastructure building activities are rising rapidly in the world, the construction of tunnels, bridges, roads, etc. is also increasing. This is also likely to positively impact the global waterproofing chemicals market.
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A new report published by Persistence Market Research titled ‘Waterproofing Chemicals Market: Global Industry Analysis 2012-2016 and Forecast 2017-2026’ studies the performance of the global waterproofing chemicals market over a nine year assessment period starting from the year 2017 and ending in the year 2026. The report presents the value forecast of the global waterproofing chemicals market and provides key insights into the different factors driving market growth as well as the factors restricting market growth. The report on global waterproofing chemicals market also provides insights on the various opportunities and trends that are shaping up this market. As per the projections presented by Persistence Market Research, the global waterproofing chemicals market was estimated to be valued at nearly US$ 9,000 Mn at the end of the year 2017 and is expected to reach a value of nearly US$ 13,200 Mn by 2026, exhibiting a CAGR of 4.3% during the period of assessment.
PTFE Sub-segment is the Largest Product Type by Value
The PTFE sub-segment in the product type category of the global waterproofing chemicals market is the largest segment by value and is slated to display a CAGR of 4.4% during the period of forecast. The PTFE segment is projected to reach a market worth of nearly US$ 3,600 Mn at the end of the period of forecast in the year 2026.
Construction End Use Segment to Lead in Terms of Value
The construction sub-segment in the end use industry category of the global waterproofing chemicals market is anticipated to display a CAGR of 4.2% during the period of forecast. The construction sub-segment was estimated to be valued at nearly US$ 3,400 Mn in the year 2017.
Liquid Sub-segment by Technology Poised to Exhibit the Fastest Growth Rate During the Forecast Period
The liquid sub-segment in the technology category of the global waterproofing chemicals market is slated to exhibit the fastest CAGR of 5.1% during the period of forecast. This segment is estimated to reach a market valuation of nearly US$ 2,100 Mn by the end of the year 2026.
APEJ to Remain Dominant Regional Market for Waterproofing Chemicals
The APEJ region is the dominant region in the global waterproofing chemicals market and is anticipated to display a CAGR of 4.7% during the period of forecast. The APEJ region is likely to reach a value of nearly US$ 4,500 Mn by the end of the assessment period in the year 2026.
- BASF SE
- DowDuPont Inc.
- Wacker Chemie AG
- Akzo Nobel NV
- Evonik Industries AG
- Sika AG
- W.R. Grace and Company
- H.B. Fuller
- Pidilite Industries Limited
- RPM International
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