The Global Waterproof Coatings Market Growth Accelerated By Expanding Construction Industry

https://www.coherentmarketinsights.com/market-insight/waterproof-coatings-market-2857
Waterproof Coatings Market


Waterproof coatings are extensively used for the protection of buildings, infrastructure, and other structures against environmental factors such as rain, moisture, humidity, and UV rays. Waterproof coatings aid in enhancing the durability and lifespan of structures. Rapid urbanization and infrastructure development have boosted the demand for waterproof coatings.

The global Waterproof Coatings Market is estimated to be valued at US$ 16.45 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends

The expanding construction industry has accelerated the growth of the waterproof coatings market over the forecast period. Rapid infrastructural development activities across both commercial and residential sectors are expected to propel the demand for waterproofing solutions. For instance, according to the World Economic Forum, the global construction industry is projected to grow at an average annual rate of 3.9% and reach $15.5 trillion by 2030. Rising construction of roads, bridges, tunnels, and mass rapid transport systems will augment the market growth of waterproof coatings. Waterproofing plays a vital role in protecting structures from moisture ingress and extending their service life. Thus, growth in the construction industry remains the key growth driver for the waterproof coatings market during the forecast period.

Segment Analysis

There are mainly two segments of waterproof coatings - roof coatings and wall coatings. The roof coatings segment currently dominates the market and accounts for more than 50% share. This is because roof coatings provide critical protection to roofs from wear & tear caused by extreme weather, moisture, UV rays, etc. thus extending the life of the roof. They are increasingly being used on metal, membrane, pitched and flat roofs across residential and commercial applications.

Key Takeaways

The global waterproof coatings market is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis shows that Asia Pacific currently dominates the market due to high construction activities in major economies like China and India. The region is expected to retain its leading position with the highest CAGR during the forecast period driven by rising building & construction industry and increasing investments in infrastructure development projects.

Key players operating in the waterproof coatings market are Pidilite Industries Limited, Akzo Nobel N.V., Sherwin-Williams Company, Sika AG and BASF SE. Pidilite Industries supplying waterproofing systems under the brand Dr. Fixit is the leading player in India. AkzoNobel offers diverse range of products for the construction industry sold under Dulux and International brand names. Sherwin-Williams provides waterproof coatings mostly to the commercial construction sector in Americas. Sika is a major global brand for concrete admixtures and specialty products used in building waterproofing. BASF's portfolio comprises McCoy, Mastertight and Masterseal solutions for roofing and waterproofing membrane applications.

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