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| Global Waterproof Coatings Market Size |
Waterproof coatings are applied on surfaces to protect them from water damage.
They provide long-lasting protection to buildings, structures, roofs, and outer
walls from water penetration, corrosion, and moisture infiltration. The growing
construction industry worldwide is driving the adoption of waterproof coatings
to protect concrete structures and wiring systems from damage.
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 17% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
Increasing adoption of green and sustainable waterproof coatings is one of the
key trends being witnessed in the waterproof coatings market. Rising
environmental concerns are prompting coating manufacturers to develop
eco-friendly and sustainable product offerings. Additionally, stringent
regulations regarding the use of volatile organic compound (VOC) emissions are
further augmenting the demand for green waterproof coatings. These coatings are
applied using water-based technologies and help reduce VOC emissions. Leading
players are focusing on utilizing renewable and bio-based resins to manufacture
sustainable waterproof coating solutions. This is expected to positively impact
the market growth over the forecast period.
Segment Analysis
The global waterproof coatings market is segmented by type, application, and
region. By type, the market is dominated by the acrylic segment that accounts
for over 30% share of the global market. Acrylic coatings provide effective
protection from water and moisture while also being highly durable. They are
suitable for both interior and exterior applications.
Key Takeaways
Global
Waterproof Coatings Market Size is expected to witness high growth
during the forecast period of 2023 to 2030.
Regional analysis: Asia Pacific region holds the major share of over 35% in the
global market currently. The region is expected to witness the highest growth
during the forecast period owing to rapid industrialization and infrastructural
development activities in major economies such as China and India. Enhanced
investment towards strengthening public infrastructures like bridges, tunnels,
dams is driving the demand for waterproofing solutions in the region.
Key players: Key players operating in the waterproof coatings market are Serum
Institute of India, Pfizer Inc., AstraZeneca plc., Bharat Biotech International
Limited, Cadila Healthcare Limited, Johnson & Johnson, Moderna,
GlaxoSmithKline plc., CanSino Biologics, Sinovac Biotech, Novavax, Inc.,
Glenmark Pharmaceuticals Limited, Dr. Reddy's Laboratories, and Merck &
Co., Inc. Their primary focus is on enhancing their product portfolios and
expanding geographical footprints through new product launches and
partnerships.
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