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U.S. Waterstop Market Expected to Reach $983.5 Million by 2027

 
2022
U.S. Waterstop Market

Report Code : A11223

quote The U.S. waterstop market is anticipated to witness considerable growth during the forecast period, owing to factors such as rise in demand for water and thereby water infrastructure in municipal/industrial applications and rise in building & construction of warehouses in the U.S. However, lack of awareness, regulations and high cost associated with waterstops is the key factor restraining the growth of the market in the upcoming years. On the contrary, advantages of using waterstops in the construction industry is anticipated to create remunerative opportunity for the key players operating in the U.S. waterstop market.” quote

Eswara Prasad
Manager, Energy & Power at Allied Market Research

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According to a new report published by Allied Market Research titled, The U.S. Waterstop Market by Material, Application, and End Use: Country Opportunity Analysis and Industry Forecast, 2020–2027,” the U.S. waterstop market size was valued at $750.6 million in 2019, and is projected to reach $983.5 million by 2027, growing at a CAGR of 4.9% from 2020 to 2027. Waterstop is a filler material used in the waterproofing systems and placed at concrete joints to prevent the movement of water through those joints. They are usually placed at the center of the wall to provide barrier to the flow of water from one side to other side of the wall. It is made by using raw materials including polyvinyl chloride, rubber, plastic, metals, and others. Waterstops are most widely used in dams, channels, tunnels, water tanks, water treatment projects, bridges, highways, walls, slabs, and others.

Rise in building and construction of transportation infrastructure such as roads, highways, tunnels, rail infrastructure, and others is expected to drive the demand for waterstops, which in turn is expected to fuel the market growth during the forecast period. In addition, rise in demand for water owing to rise in population and from industrial operations is anticipated to fuel the growth of the market during the analyzed time frame. However, high cost & lack of awareness and government regulations toward minimizing environmental pollution are expected to hamper the market growth from 2020 to 2027.

Depending on material, the polyvinyl chloride (PVC) segment held the highest market share of around 43.7% in 2019, and is expected to maintain its dominance during the forecast period. This is owing to rise in demand for polyvinyl chloride (PVC) waterstops from construction structures such as walls, tunnels, water tanks, dams, and other structures. In addition, increase in building and construction of transport infrastructure, marine infrastructure, and water infrastructure is anticipated to fuel the growth of the waterstop market during the analyzed time frame.

On the basis of application, the water tanks segment holds the largest market share, in terms of revenue, and is expected to maintain its dominance during the forecast period. 

'This growth is attributed to rise in building & construction of water infrastructures including water treatment plants, swimming pools, dams, municipal water tanks, and other water structures. Moreover, rise in demand for water in end-uses such as residential, commercial and industrial is expected to increase demand for storing water which in turn is projected to fuel the growth of the waterstop market in the upcoming years.

On the basis of end use, the commercial segment holds the largest market share, in terms of revenue, and is expected to grow at a CAGR of 4.9%. This is owing to rise in investment towards building transport infrastructure, water treatment plants, fuel terminals, and other commercial infrastructure. In addition, rapid urbanization owing to rise in population resulted in increase in demand for commercial and public facilities, which in turn is expected to drive the demand for waterstops during the forecast period.

The U.S. waterstop market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include BoMetals, Inc., GCP Applied Technologies, Inc., Henry Company, JP Specialties, Inc., Minerals Technologies, Inc., Sika AG, Trelleborg AB, West American Rubber Company, LLC, Williams Products, Inc., and W.R. Meadows, Inc.

Other players operating in the value chain of the U.S. waterstop market are Durajoint, OCM, Inc., TegraSeal Products, Inc., Maccaferri, Inc., and others.

COVID-19 impact on the market

The U.S. waterstop market is anticipated to witnessing steady and sluggish growth for the year 2020, owing to the outbreak of the COVID-19 pandemic. The outbreak has negatively impacted various industries across the country. In addition, ongoing projects from various industries such as construction, oil & gas, manufacturing, and others are on hold or cancelled, which has affected the sales of building and construction materials. This further resulted in restraining the growth of the waterstop market till the effect of pandemic becomes less. However, rapid vaccination across the country is expected to lower the effect of pandemic. Thus, it is estimated that step-by-step end of the lockdown and rapid vaccination will boost the economy, which in turn is expected to fuel the waterstop market in the U.S. in the upcoming years.

Key Findings Of The Study

  • In 2019, the polyvinyl chloride (PVC) segment accounted for majority of the share of the U.S. waterstop market, and is expected to maintain its lead throughout the forecast period.
  • In 2019, the water tanks segment accounted for around 40.8% of the share in the U.S. waterstop market, and is expected to maintain its dominance till the end of the forecast period.
  • In 2019, the rubber waterstop segment is accounted for 29.6% of the U.S. waterstop market share in 2019, and is anticipated to grow at a rate of 5.0% in terms of revenue, increasing its share in the U.S. waterstop market.
  • Residential is the fastest-growing end-use segment in the U.S. waterstop market, expected to grow at a CAGR of 5.0% during 2020–2027.
  • In 2019, the commercial segment dominated the U.S. waterstop market with more than 51.3% of the share, in terms of revenue.
 

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quote U.S. Waterstop Market by Material (Polyvinyl Chloride (PVC), Rubber, Metals, and Others), Application (Walls, Water Tanks, Tunnels, Parking Structure, and Others), and End Use (Residential, Commercial, and Industrial): Opportunity Analysis and Industry Forecast, 2020–2027 quote

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