Rapid urbanization and increase in industrialization has impacted the construction industry and in turn the environment across the globe. Rise in concerns over the harmful effect of construction processes and products have prompted consumers to adopt ecofriendly products. Green waterproofing products, among others, have gained significant impetus from this trend. Thus, the global market for green waterproofing products has been expanding significantly.
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In terms of region, the market for green waterproofing products has been segmented into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Significant increase rise in construction activities, propelled by the rise in urbanization as well as industrialization, has fueled the demand for green waterproofing products in Asia Pacific.
Waterproofing products are chemical compounds that are blended with other chemical constituents to provide a barrier against leakage. These also improve the durability of finished products. These chemicals are used as additives and admixtures with several other materials including mortar, cement, paints, plastics, inks, and detergents. Natural waterproofing products include quartz and crystalline silica. Synthetic chemicals include polysulfide, polyethylene, polyurethane, and acrylates. Waterproofing products enhance the water-repelling properties of finished products when used as additives in the processing of polymers, paints, and coatings.
Demand for green waterproofing products is rising due to the emphasis on environment-friendly construction products across the world. Investment in new commercial buildings, specifically in new hotels and shopping mall segments, have been increasing of late. This is propelling the demand for roofing globally. Additionally, growth in demand for roofing can be observed in the green roofing segment in commercial buildings. The residential building sector is the major consumer of green waterproofing products.
Rise in investment in the residential building construction sector is a prominent factor driving the Green waterproofing products market across the globe. The economic boost in Asia Pacific is anticipated to further augment the usage of green waterproofing products in the region. This, in turn, is estimated to drive the green waterproofing products market substantially in the near future.
The global green waterproofing products market is likely to be hampered by the shortage of skilled workers. This is one of the primary restraints of the global green waterproofing products. Trends such as green roofing and innovation in environment-friendly waterproofing products are anticipated to significantly impact the Green Waterproofing Products Market.
The Green Waterproofing Products Market can be segmented in terms of application (roofing, walls, building structures, and landfills & tunnels) and region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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The market for green waterproofing products in Europe and North America is matured. It is witnessing new product innovation and rising preference for green waterproofing products. The global green waterproofing products in Latin America is also estimated to expand significantly in the next few years due to the expansion in the construction sector in the region. The green waterproofing products market in Latin America and Middle East & Africa is projected to expand substantially in the near future.
Key companies operating in the green waterproofing products market include Nanex, Nikwax, Dr. Fixit, Ultra Seal, and Columbia Green.