Furthermore, increasing awareness regarding the importance of waterproofing products in construction among consumers in developing regions is anticipated to boost the waterproofing chemicals market over the forecast period.
A major share of the demand witnessed in the market arises from the buildings and construction segments as paints and coatings are used to protect the surface they are applied on against weathering and rust, thus improving durability of structures.
Companies undertake technological innovations for new product development which should drive waterproofing membranes industry size. The study includes drivers and restraints for the paints and coatings market along with the impact they have on the demand over the forecast period.
Market Segmentation 17 FIG. Objects applied with waterproof coatings are resistant to penetration by water and wetting. PU liquid membranes find extensive usage in roofing applications.
Asia Pacific is expected to witness substantial growth in the waterproofing chemicals market over the forecast period on account of increasing infrastructure expenditure coupled with rising disposable income of the average consumer.
These materials are petroleum based and variations of crude oil index may hamper production costs and affect market price trend. The drivers, restraints and opportunities mentioned in the report are justified with the help of quantitative and qualitative data which is verified by primary and secondary resources.
Other coatings are affected by fluctuating prices and unstable supply. Waterproofing sheets are mainly used on kitchen and bathroom floors, wet rooms and roofs to diminish the chance of prevailing accidents.
Prices of paints and coatings vary in each region; hence, a similar volume to revenue ratio does not follow for each individual region. However, global market may, however, be restrained on account of volatile raw material prices which are heavily dependent on petrochemical demand-supply.
Additionally, increase in government and foreign investment is another factor driving the market in the region. The same price for each application has been taken into account while estimating and forecasting market revenue on the global basis. High viscosity and stickiness properties offered by bitumen are expected to promote its demand as waterproofing chemicals over the forecast period.
Sheet membranes are anticipated to witness a growth of 6. Similarly, industrial paints and coatings can be classified into water-based, solvent-based, powder, and UV-based.
The wood products industry reached USD Fluctuation in prices and supply of raw materials used for manufacturing the product is likely to hinder the growth.
Development of waterproofing chemical composites with improved self-adhesion and longevity is estimated to have immense future growth prospects for this market. Paints and Coatings Market: Industrial paints and coatings are used by several industries, including machinery manufacturing, automotive, and consumer goods.
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Growing infrastructure activities coupled with lower operating costs encouraged major capacity additions of coatings in the region. InPidilite Industries Ltd launched Low Energy Consumption LEC which is a waterproofing and insulation systems for buildings which provide eco-friendly solutions for various areas of applications catering to high rise structures.
These are used for functional or decorative purposes. High opportunity is expected from the plastic industry to manufacture toys and materials which will be waterproof so that one can use it with great ease. Related Reports Water-proofing is making an object virtually impervious to water.
Water-proof coatings dominate the paints and coatings market. Growing end-user industries in emerging nations, such as China and India, and energy efficiency are some of the drivers for the waterproofing membranes market. Development of niche applications of waterproofing chemicals including bitumen bonding, expansion joints, and subsoil waterproofing is likely to affect positively market growth in this sector.Summary.
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