Waterstop Market Set For Rapid Growth & Demand, By 2027
A waterstop is a concrete structure intended to prevent the flow of water. Waterstops are manufactured from extruded plastic, stainless steel and copper and they are coated with polymeric coatings. A multitude of accessories and developments are expected to boost demand for the waterstop market, globally. Different waterstops are used depending on the application area, such as an external waterstop. The global waterstop market trend is shifting from stainless steel waterstops to flexible polymer waterstops. Flexible syntactic waterstops have an added advantage as they’re durable and corrosion free and can resist fluctuating water conditions. These benefits are forecasted to drive growth of the global waterstop market. Typical structures requiring waterstops include storage tanks, culverts & tunnels, retaining walls, waste water treatment facilities, bridge & deck abutments and water reservoirs.
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Global Waterstop Market:Market Dynamics
Waterstop are manufactured in various shapes depending on the end use. Waterstop manufacturers are generally manufacturers of flexible syntactic and rust proof materials; as a result the waterproofing quality of the waterstop is durable. Waterstops also offer added safety to some extent, providing an added benefit to civil contractors or end users. The global waterstop market is also driven by the product’s unique features, such as good chemical resistance, compatibility for portable water structures and rain and moisture resistance.
Rapid industrialization in developing economies and growing development in construction industries are some of the macro-economic factors supporting growth of the global waterstop market. Furthermore, the global waterstop market is driven by burgeoning growth in the chemical industry worldwide.
Lack of consumer awareness, high cost and technical limitations such as cyclical water conditions may deter growth of the waterstop market. Cyclic wetting and drying of a waterstop may cause it to swell and breakdown from the wall. This is another factor expected to hamper growth of the global waterstop market. To overcome such restraints key manufacturing companies are focusing on product development and launching new waterstops with increased durability.
Global Waterstop Market: Market Segmentations
The global waterstop market can be segmented based on the material used in manufacturing of the waterstop, by types of waterstops and by the accessories used in waterstops.
Segmentation based on the material used in waterstop is as follows:
- Flexible polyvinyl chloride PVC
- Polyethylene (PE)
- Carbon steel
- Others (oil-based paints etc.)
Segmentation based on the waterstop types is as follows:
- External waterstop
- Internal waterStop
- Expansion waterstop
Segmentation based on the accessories used is as follows:
- Waterstop welding irons
- Hog rings
- Hog rings pliers
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Global Waterstop Market:Regional Overview
Asia pacific is expected to dominate the global waterstop market, followed by Middle East and North America. The developing countries in Asia-Pacific such as China and India are expected to hold the largest market share in the regional market due to rising construction activities. Significant growth is anticipated in Western Europe, followed by Japan. Growing development in European countries is expected to fuel demand for the regional waterstop market. Whereas, Eastern Europe and Latin America followed by Africa are expected to hold the least share in the global waterstop market.
Global Waterstop Market: Market Participants
Some of the industry participants in the global waterstop market include Henry Company, Trelleborg Ridderkerk BV, Krystol Group, Emagineered Solutions Inc, Visqueen Building Products CE Construction Solutions, BoMetals, Inc., Foshan Nanhai Fufujing Plastic & Hardware Company Limited and Mapei Construction Products India Pvt Ltd. Key players in the market are focused on expansions and new product launches to fulfill the growing demand in the global waterstop market. For instance, Visqueen Building Products announced a waterproofing solution for high risk cast concrete application. The product exhibited a unique property of swelling in all directions and acted as a potential barrier to hold off water, unlike other waterstops which exhibit swelling in uniform direction. It also comprises a special additive that delays the swelling process and hence greatly assists in the installation process.
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