Newark, June 14, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 3.5 Billion Basements Waterproofing Coating market will reach USD 7.01 Billion by 2033. Increasing awareness of water damage and increasing demand for green roofs in the market may fuel the growth of the Basements Waterproofing Coating Market. As awareness grows regarding the harmful impact of water damage on homes, there's a proactive search among homeowners, contractors, and builders for solutions to prevent water infiltration. Basement waterproofing coatings emerge as a viable option to address water-related issues effectively. With increased knowledge about the risks associated with water damage, such as mold growth, structural decay, and property harm, individuals acknowledge the importance of taking preventive measures to safeguard their homes and buildings. This heightened awareness drives the demand for basement waterproofing coatings as a preventive measure. In essence, the escalating understanding of water damage and its repercussions spurs the demand for basement waterproofing coatings, as homeowners actively seek efficient solutions to protect their properties, buildings, and investments from water-related problems.
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Basements Waterproofing Coating Market Size by Type (Polyurethanes, Bitumen, Cementitious, Acrylics), Application (Residential, Infrastructure, Commercial, Industrial), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
North America emerged as the largest global Basements Waterproofing Coating market, accounting for 57% of the total market. Owing to ongoing residential, industrial, and infrastructure improvements in the region. Whereas Asia Pacific exhibits the highest growth rate in the market owing to technological advancements in the region.
Acrylics has dominated the market accounting for 43.12% of the total market in the year 2023.
Acrylics has dominated the market accounting for 43.12% of the total market in the year 2023. Owing to increasing demand from increased solutions for sealing technology coupled with waterproofing and inbuilt protection from basement structures in the market. Whereas, Bitumen is expected to provide a lucrative growth rate in the future, owing to the increasing construction projects in the market.
Residential segment has dominated the Basements Waterproofing Coating market. Thereby acquiring 47% in the year 2023
Residential segment has dominated the Basements Waterproofing Coating market. Thereby acquiring 47% in the year 2023. Owing to rapidly growing demand for commercial and personal houses. Increasing population and rapid urbanization in the period forecasted. The infrastructure segment happens to be the fastest-growing segment within the market. Owing to various strategic initiatives by the private players in the market.
Latest Development:
• In March 2023, Holcim finalized the acquisition of Quimexur, a notable manufacturer of liquid membranes utilized in roofing and waterproofing applications in Argentina. This strategic maneuver is expected to bolster HOLCIM's position in the roofing and waterproofing sector throughout Latin America.
• In May 2023, Holcim completed the acquisition of PASA, a renowned manufacturer of roofing and waterproofing solutions in Mexico and Central America. This strategic move is geared towards broadening HOLCIM's solutions and products portfolio, reinforcing its dominant position in the roofing systems market throughout Latin America.
• In October 2022, Holcim acquired Polymers Sealants North America (PSNA), a prominent player in coating, adhesive, and sealant solutions. This acquisition is expected to drive the growth of Holcim's Solutions and Products division, particularly in waterproofing and coatings.
• In January 2021, Henry Company, a leader in building envelope systems, introduced the Henry Blueskin PreSeal System. This innovative product, featuring proprietary dual bond technology, significantly boosted demand in the waterproofing products market by offering improved adhesion to concrete.
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Market Dynamics
Drivers: Rapidly growing demand for construction activities
The surge in construction projects, encompassing both residential and commercial developments, is fueling the demand for basement waterproofing coatings. With the ongoing construction of more homes and structures, there is a heightened need to safeguard basements and below-grade areas from water damage. As construction activities escalate across residential, commercial, and industrial sectors, the number of buildings and structures being erected is on the rise. Basements are increasingly common in these projects, particularly in urban areas where space is limited. Recognizing the significance of waterproofing basements to shield against water damage and ensure the longevity of structures, builders and developers prioritize this aspect. In summary, the escalating construction activities contribute to a growing market for basement waterproofing coatings, driven by the understanding among developers, builders, and property owners of the critical need to protect structures from water damage and uphold their long-term durability and value.
Restraints: Increased cost concerning Basements Waterproofing Coating
Basement waterproofing coatings can incur significant costs, especially for large-scale projects or when utilizing high-quality materials. The expenses associated with materials, labor, and installation can be prohibitive for some homeowners or property developers, prompting them to consider cheaper alternatives or postpone waterproofing projects.
Opportunities: Increasing awareness of water damage
As awareness grows regarding the harmful impact of water damage on homes, there's a proactive search among homeowners, contractors, and builders for solutions to prevent water infiltration. Basement waterproofing coatings emerge as a viable option to address water-related issues effectively. With increased knowledge about the risks associated with water damage, such as mold growth, structural decay, and property harm, individuals acknowledge the importance of taking preventive measures to safeguard their homes and buildings. This heightened awareness drives the demand for basement waterproofing coatings as a preventive measure. In essence, the escalating understanding of water damage and its repercussions spurs the demand for basement waterproofing coatings, as homeowners actively seek efficient solutions to protect their properties, buildings, and investments from water-related problems.
Challenge: Issues related to health and the environment
Waterproofing coatings often contain chemicals and volatile organic compounds (VOCs) that pose potential health risks. Prolonged exposure to these substances, whether during application or afterward, can result in respiratory issues, skin irritation, and other health concerns for individuals in the treated area. As awareness of indoor air quality and its implications for health grows, consumers are increasingly mindful of the products they incorporate into their homes and buildings. This heightened awareness has fuelled a demand for safer alternatives with reduced VOC content.
Some of the major players operating in the Basements Waterproofing Coating market are:
• Oriental Yuhong
• Sherwin-williams
• GAF
• RPM
• Keshun
• AkzoNobel
• Soprema Group
• BASF
• BMI
• Berger Paints
Key Segments cover in the market:
By Type:
• Polyurethanes
• Bitumen
• Cementitious
• Acrylics
By Application:
• Residential
• Infrastructure
• Commercial
• Industrial
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About the report:
The global Basements Waterproofing Coating market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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