Waterproof coatings are specialized protective coatings used on building exteriors, rooftops and other structures susceptible to water damage. They provide protection against water damage, temperature fluctuations and UV radiation. With increasing construction activities globally coupled with stringent building codes regarding waterproofing, the demand for waterproof coatings is on the rise.
The global Waterproof Coatings Market is estimated to be valued at US$ 17.13 Billion in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the growth of the waterproof coatings market is their increasing use in the construction sector. Waterproof coatings find widespread application in commercial and residential construction projects to prevent water ingress. Rapid infrastructure development and increase in construction of buildings, bridges and other structures has propelled the demand for waterproofing solutions. Furthermore, implementation of stringent regulations regarding waterproofing of structures has encouraged construction players to use advanced waterproof coating technologies. This rising focus on waterproofing is expected to fuel market growth over the forecast period.
SWOT Analysis
- Strength: Waterproof coatings provide protection from water and moisture damage which increases the durability of structures. They act as a barrier preventing leakage and seepage.
- Weakness: Strict environmental regulations regarding the use of volatile organic compounds in coatings limit their applications. High costs associated with development and manufacturing of advanced waterproof coating technologies.
- Opportunity: Rising demands for waterproof coatings from construction industry for applications such as roofing and roof coatings offer new opportunities. Increasing investments in infrastructure projects especially in developing nations boost the market growth.
- Threats:Availability of alternative waterproofing materials threatens the market. Fluctuations in raw material prices impact the overall coatings industry.
Key Takeaways
The global waterproof coatings market is expected to witness high growth. The market size is forecasted to reach US$ 17.13 Billion in 2024 from US$ 15.54 Billion in 2020, exhibiting a CAGR of 4.1% during the forecast period.
Regional analysis
The Asia Pacific region dominates the global waterproof coatings market and is expected to continue its dominance owing to increased investment in infrastructure projects especially in China and India. Rapid urbanization and growth of construction industry drives the demand for waterproofing solutions in the region.
Key players
Key players operating in the waterproof coatings market are Dampney Company, The Valspar Corporation, PPG Industries, Sherwin-Williams Company, BASF SE, and Flosilchemical. Dampney Company specializes in waterproofing systems offering coatings, membranes and liquid applied systems for protection against water ingress.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
