Waterstop Market Overview
Waterstop market is expected to grow USD 2,956.20 million at a CAGR 5.20% during the forecast period. According to the reports, the global waterstop market size is expected to witness a magnificent growth rate during the forecast period. Waterstop is a concrete product that is used to block the passage of water in building or construction materials. Waterstop keeps water out by sealing the building joints. Waterstops are made of plastic, steel, and copper with polymer coatings. Growing industrialization in emerging nations, as well as continuous advancements in the building sectors, are significant drivers of the Waterstop market.
A waterstop is a concrete structural element that has the property of preventing fluid flow when implanted in and running continuously through concrete joints. Waterstop is a series of hydrophilic or impermeable strips poured into the concrete at the seams to prevent water from passing through. It is formed as a water bar and intended as a fluid-tight diaphragm. It is commonly employed as an effective barrier against water penetration from the face of a slab or a wall in retaining walls, basements, reservoirs, and tunnel joints. Furthermore, it permits the independent movement of two parts without any restriction, such as tension. Growing industrialization in developing nations and continuous advancements in the building sectors are two important drivers propelling the waterstop market forward. In addition, the market's expansion is aided by the increasing rate of chemical industries. However, the waterstop market may be limited by a lack of customer awareness, greater costs, and technological limits. Wetting and drying Waterstop on a regular basis might cause it to expand and peel away from the wall. As a result, such conditions stifle market expansion. Companies are continuously attempting to focus on creative product development and the launch of the new water stop, which helps to improve the durability of waterstop and overcome restrictions.
This report contains all the information on the global waterstop market outlook and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global waterstop market forecast for 2023 is also included in the report.
Covid 19 Analysis
The COVID-19 epidemic has had a significant influence on the worldwide market for waterstop. The waterstop market is expected to see a temporary downturn as a result of the stoppage of ongoing industrial and commercial processes. Furthermore, social distancing norms and worldwide lockdown cause construction and building initiatives to suffer a short setback. Because a large number of active projects are on pause, the need for water stops for bridges, road embankments, tunnels, water tanks, and swimming pools has decreased. The epidemic had an impact on the global supply chain. Insufficiency in raw material supplies and increased lead times for raw material procurement in upstream channels would stymie production rates, limiting market development.
These market participants are focusing on expansions, acquisitions, partnerships, and new product development to expand their business in the prospective markets. They've also been concentrating on strategies including organic and inorganic growth, as well as contracts and investments.
Major Key Players
During the projected period, the worldwide waterstop market growth is predicted to develop significantly. It's often utilized to block water from flowing through cracks in big plants, reservoirs, locks, and residential constructions. As a result, the demand for waterstop is skyrocketing. Furthermore, market development is aided by growing industrialization in developing economies and chemical industries.
Furthermore, rising demand for housing construction and a high level of disposable income are pushing the market. Furthermore, rising housing demand, expanding urbanization, and other variables are all positive aspects for the Waterstop industry. Government measures to improve infrastructures, such as roads and bridges, are driving up demand for Waterstop.
Rapid industrialization in developing economies and chemical industries helps to create opportunities for the major key players of the global waterstop market value.
The high cost of waterstop, technological restrictions, cycle wetness, and drying of waterstop, which results in a limited product shelf life, are all potential restraints for the worldwide market's growth. Waterstop's market is hampered by a lack of customer knowledge and growing production costs that make these features expensive.
The worldwide waterstops market is likely to be limited by issues such as a lack of customer awareness and costly capital investment which can be considered as a major challenge for the key players of the global waterstops market.
Cumulative Growth Analysis
Trelleborg, a global pioneer in technical polymer solutions, has purchased privately held Sil-Pro, LLC in Minnesota, through its business area Trelleborg Sealing Solutions. Sil-Pro is an ISO13485-certified and FDA-registered manufacturer of silicone and thermoplastic medical device components and assemblies. The strategic purchase expands Trelleborg Sealing Solutions' production portfolio and provides capacity for mid-volume silicone products not manufactured by the company.
In May 2019, Sika finalized the acquisition of Parex. Sika and Parex are two solid firms with complementary product offerings and channel penetration. Facade mortars, tile adhesives, and waterproofing mortars are among the products offered by Parex. Parex participates in all aspects of the construction life cycle because to its experience in mortar solutions for rehabilitation and new construction. Sika's growth platform will be strengthened as a result of the purchase of Parex.
Value Chain Analysis
According to ot the reports, the global waterstop market is segmented on the basis of material, type, application, and region. The worldwide market is divided into segments depending on the material, such as flexible PVC, polyethylene, carbon steel, oil-based paints, and so on. The global market is divided into three categories of waterstops: exterior waterstop, internal waterstop, and expansion waterstop. The worldwide market is divided into waterstop welding irons, hog rings, hog rings pliers, and others based on accessories. Water reservoirs and canals, bridges and tunnels, storage tanks, wastewater treatment facilities, and other applications make up the waterstops market. During installation, Waterstops uses methods that push seals into the concrete. Because of their enormous construction structure, water reservoirs and canals account for a considerable portion of the waterstops industry. The bridges and tunnels section, on the other hand, is expected to grow rapidly throughout the projected period.
The market is segmented on the basis of material, type, application, and region. The global waterstop market trend is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into Water reservoirs and canals, bridges and tunnels, storage tanks, wastewater treatment facilities, and others.
Based on the propulsion types, the market is segmented into waterstop welding irons, hog rings, hog rings pliers and others.
According to the reports, on the basis of region, the global waterstop market is divided into North America, Europe, Asia pacific, and the rest of the world. The waterstop market is primarily supported by construction and building activity. The Asia-Pacific region is expected to account for the lion's share. Due to growing building activity, Asia-Pacific emerging nations such as China and India are projected to hold the highest waterstop market share in the regional industry. Government efforts, such as the creation of smart cities, are giving the industry a significant boost. North America and Europe are followed by Asia and the Pacific Rim. Customers' strong demand and purchasing power have increased demand and strengthened the market for Waterstop. Mechanical waterstops constructed from a wide range of materials are available from manufacturers. There are two materials to choose from: stainless steel and copper. PVC and rubber, on the other hand, are more often utilized materials.
The following report comprises of –
Global Waterstops Market Scope:
Global Waterstops Market, By Type
Global Waterstops Market, By Material
Global Waterstops Market, By Region
o the U.S
o Rest of Europe
o South Korea
o Rest of APAC
o Saudi Arabia
o Rest of MEA
o Rest of LATAM
|Market Size||2,956.20 Million|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Materials|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Trelleborg Ridderkerk BV , Henry Company , Krystol Group , Emagineered Solutions Inc., Foshan Nanhai Fufujing Plastic Hardware Company Limited., BoMetals, Inc., Greenstreak group, Inc., Visqueen Building Products, Hengshui Jingtong Rubber Co., Ltd., and Mapei Construction Products India Pvt Ltd.|
|Key Market Opportunities||High disposable income and rising need for accommodation development|
|Key Market Drivers||Growing industrialization in developing economies and ongoing developments|
The APAC region is expected to dominate the waterstop market.
Increasing demand for housing and growing industrialization are adding to the waterstop market growth.
Rising production cost may limit the waterstop market growth.
Different types of waterstop include expansion waterstop, internal waterstop, and external waterstop.
Specific strategies that industry players have incorporated to create a niche in the waterstop market include mergers, collaborations, innovations, partnerships, and product development.