Water proofing chemicals are widely used in several industries such as construction, paints and coatings, automotive, packaging and others. Post the development of polymers, the market has seen a rapid growth as they possess very good sealing capabilities.
Recovering construction activities across the world after the slowdown post 2008 is expected to drive the water proofing chemicals market. Additionally, growth of the automotive and packaging market is projected to further add to water proofing chemicals market growth. However, stringent regulations regarding the volatile organic compounds (VOCs) released in the atmosphere and handling risks might hinder the water proofing chemicals market growth. New products with low VOCs and less handling risks can be a future prospective market opportunity for growth.
Water proofing chemicals market can be divided based on the end-user market, into five key segments as construction, automotive, packaging, paints & coatings and others (aerospace, electronics, etc). Construction market is estimated to be the largest market and is anticipated to remain so in the coming years, attributed to recent recovery of global construction activities. Packaging is projected to be the fastest growing market over the forecast period especially in the high growth regions of Asia Pacific.
Asia Pacific is the largest as well as fastest growing market for water proofing chemicals market. Rapid growth in construction activities especially in India, China and South East Asian countries is the major driver for the growth of the market, in the region. Furthermore, growing automotive market in the region is expected to fuel market growth. In North America and Europe, the construction market is recovering owing to economic turnaround in the regions. This, in turn, is expected to aid the water proofing chemicals market in these regions.
Some of the key players in the glass coatings market include Henkel AG & Co. KGaA, 3M Company, H.B Fuller Company and Dow Chemicals Company among others.
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