The Waterproofing Admixture market is estimated to be valued at US$ 4.66 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Waterproofing admixture are chemical agents that are added to concrete or mortar to provide waterproofing properties during construction. They prevent the ingress or passage of water through concrete pores and cracks. Common waterproofing admixtures are crystalline, Pore-blocking, and permeability-reducing admixtures. These admixtures find wide usage in building structures such as basements, tunnels, bridges, and wastewater plants where prevention of water ingress is crucial.
The waterproofing admixture market is primarily driven by the increasing construction activities around the world. Rapid urbanization and infrastructure development in emerging economies are translating into new residential, commercial and industrial construction which requires effective waterproofing solutions. Furthermore, stringent regulations regarding water management in newer construction projects are also propelling the demand for waterproofing admixtures. Additionally, continuous technological advancements in admixture formulations to provide enhanced permeability and crack resistance properties are supporting the market growth. For instance, self-healing crystalline admixtures can autonomously seal cracks up to 0.5mm, thereby improving the overall waterproofing effectiveness of concrete.
Strength: Waterproofing admixtures offer high strength and durability to the concrete structure against moisture ingress and corrosion. They provide long term protection and increase the service life of concrete structures. Their use reduces maintenance cost of infrastructure.
Weakness: High initial investment is required for adoption of advanced waterproofing admixture technologies. Traditional cement-based waterproofing systems have well established markets.
Opportunity: Growing construction of marine structures, basements, tunnels and other below-grade structures generates demand. Infrastructure development in emerging nations of Asia and Africa opens new markets.
Threats: Strict environmental norms can affect raw material sourcing and product development. Substitute products from local vendors increase competition.
The global waterproofing admixture market is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing construction activities across commercial and residential sectors. Rapid urbanization and growing population are driving the demand for housing and infrastructure development.
Asia Pacific accounts for the largest share in the global waterproofing admixture market due to strong presence of construction industry in China, India, Japan and other developing nations. Government initiatives to develop infrastructure and smart cities boost the demand. North America and Europe are also significant markets driven by renovation and maintenance of existing structures.
Key players operating in the waterproofing admixture market are Dow Corning Corporation, Mapei S.p.A, RPM International, Sika A.G., BASF SE, W.R. Grace, Wacker Chemie A.G, Xypex Chemical Corporation, Fosroc International, Evonik A.G., Pidilite Industries. The industry players focus on new product launches, partnerships and expansions to gain leading position.