Waterstop Market Size 2023-2030 Global Industrial Analysis, Market Share, Top Key Players

Waterstop Market

The global Waterstop Market size was worth around USD 1,980.54 Million in 2022 and is predicted to grow to around USD 3,105.66 Million by 2030 with a compound annual growth rate (CAGR) of roughly 5.78% between 2023 and 2030.

In order to prevent the flow of water, waterstop is built. It is a concrete structure manufactured from stainless steel, extruded plastic, and copper and is coated with polymeric coatings. Different types of waterstops are used depending on their application areas, such as an external waterstop, internal waterstop, or expansion waterstop. Features of waterstop include durability, safety and resistance to corrosion, and fluctuating water conditions. In the current scenario, the market trend for waterstop is shifting towards flexible polymer waterstops. Structures requiring waterstop include storage tanks, retaining walls, water reservoirs, bridge and deck abutments, wastewater treatment facilities, and others.

Global Waterstop Market: Segmentation

The global waterstop market is segmented into its material, type, accessories, and geography. On the basis of material, the market is divided into carbon steel, polyethylene, flexible polyvinyl chloride, and others such as oil based paints. Based on types, the waterstop market is segregated into expansion waterstop, internal waterstop, and external waterstop. On the basis of accessories, the market is classified into hog ring pliers, hog rings, waterstop wielding irons, and others. Based on geography, the market is diversified into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.

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Global Waterstop Market: Growth Factors

The waterstop market is a growing market owing to its features such as better waterproofing, durability and safety, and its availability in various shapes according to one’s use. Due to these features of waterstop, they are highly in demand by the civil contractors and other end users, thus boosting the market growth. Also, compatibility for portable water structures, good chemical resistance, and moisture and rain resistance are some other features of the waterstop that drive the market growth. Macro-economic factors supporting the growth of the market include growing development in construction industries, escalating growth in the chemical industry, and rapid industrialization in developing economies. However, growth of the market may be hampered by technical limitations, high cost, and lack of consumer awareness. Cyclic drying and wetting of waterstop may cause it to enlarge and collapse from the wall. This is another factor expected to cause a hindrance to the growth of the global waterstop market.

Global Waterstop Market: Regional Analysis

The largest share of the waterstop market is held by Asia Pacific. Developing countries of Asia Pacific such as China, Japan, and India will be dominating the market scenario mainly due to the rising constructional activities. The growth of Asia-Pacific region is expected to be followed by the Middle East and North America. Also, significant growth is expected from Western Europe owing to the developments taking place in this region especially in countries such as Italy, Germany, the U.K, France, and Spain. However, growth in Africa, Latin America, and Eastern Europe is anticipated to be moderate over the forecast period.