The water repellant agent market is witnessing the rising demand, globally. Extensive demand for water-repellant coatings from some of the burgeoning industries, including construction, automobile, furniture upholstery, leather, and medical products, is a key driving force pushing the market growth. Moreover, rising economic conditions and rapid urbanizations, especially in developing regions, have escalated this market on a global platform.
Market Research Future (MRFR), in its recently published study report, asserts that the global water repellant agent market is estimated to garner exponential accruals by 2030. MRFR also confirms that the market would register a modest CAGR during the forecasted period (2020- 2030). Increasing numbers of textile manufacturing units in emerging markets alongside the augmenting demand for waterproof automotive components provide a massive impetus to the growth of the market.
Additionally, increasing construction infrastructure development activities globally are impacting market growth positively. Despite exhibiting powerful growth prospects, the market still confronts some challenges due to the production process of that emit good degrees of volatile organic compounds (VOC) in the environment. Due to the growing ecological concerns, various government bodies are imposing stringent regulations on the usages of harmful chemicals while developing water repellant agents.
Also, end-use industries of these materials demand low-cost products, which challenges the manufacturers further, creating a huge demand-supply gap. On the other hand, there are several new researches going on to develop sustainable green technology to be used during production.
Manufacturers have already adopted some of the innovative solutions and are investing heavily in developing eco-friendly, bio-based agents that can offer an unparalleled combination of properties compared to conventional water-repelling agents.
However, this increases the overall price of these agents, increasing their manufacturing cost. Nevertheless, technological proceedings expected in the nearing future would support the growth of the market, bringing about cost-effective solutions.
Global Water Repellant Agent Market — Segments
The market is segmented into four dynamics to widen the scope of understanding,
By Product Type : Polyurethane, Teflon, and Silicones.
By Technology : Water-based, Solvent-based, and others.
By End-use Industry : Textiles, Construction, Automotive, Medical, and others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
Water Repellant Agent Market — Geographical Analysis
The Asia Pacific region accounts for the largest share in the global water repellant market. The growth attributes to the increasing demand from the burgeoning textile industry and moderately regulatory framework in the region. Rapid urbanization and changing consumer preferences for affordable and comfortable clothing have created a significant demand for high-value fabrics, which is further increasing the adoption of water repellent technology for textile manufacturing.
Expanding textile industries in China and India due to the high adaptation rate by textile yarn producers, contribute to the growth of the regional market, hugely. Furthermore, ample availability of low-cost raw material, land, and workforce in the region impacts the market growth positively. The APAC water repellant market is expected to grow with the fastest CAGR over the forecast period.
The water repellant market in North America is estimated to witness significant growth during the assessment period. Strong industrial base, along with the rising investments to revitalize the leather healthcare industry, influence the growth of the regional market. Besides, high consumption potential, increasing production capacities led by the developed economy in the region, stimulate the regional market growth.
The US accounts for the major contributor to the regional water repellent agent market. In 2018, the US market accounted for the largest share in the region on account of liberal custom regulations and transparent practices as compared to the APAC and European countries.
The European water repellent agent market is witnessing an increasing demand continually. Italy, Spain, the UK, and Germany are prominent consumer markets due to the rising expenditure on innovation and growing purchasing power of consumers. Additionally, the presence of major automobile manufacturers, mainly, in Germany provides an impetus to the regional market growth.
Due to the rising government support regulations and policies relating to fashion clothing and e-commerce sector are under rapid reform, which is further expected to boost the market demand in Europe during the forecast period.
Water Repellant Agent Market — Competitive Landscape
Highly competitive, the water repellant agent market appears to be fragmented due to the presence of a large number of players. To gain a substantially larger share in the market, players incorporate strategic initiatives such as mergers acquisitions, collaborations, expansion, and new therapeutics technology launch. Manufacturers deliver the best quality, reliable, and consistent, pure, high-quality products based on innovative technologies.
Players leading the global water repellant agent market include Wacker Chemie AG (Germany), Elkem Silicones (US), BASF SE (Germany), Evonik Industries AG (Germany), Momentive (US), The Dow Chemical Company (US), Shin-Etsu Chemical Co., Ltd. (Japan), Huntsman Corporation (UK), The Chemours Company (US), 3M Company (US), Aculon (US), Daikin Industries, Ltd (Japan), Rudolf GmbH (Germany), Nicca Chemical Co. Ltd (Japan), and Silitex SRL (Italy), among others.
Industry/ Innovation /Related News:
August 30, 2019 — Indian Institute of Technology (IIT Hyderabad, India), a public engineering and research institution, announced the development of a waterproof coat using fly ash, which will help to protect heritage buildings. This unique material with excellent water-repelling quality is now being translated into a special paint or coat utilizing fly ash and few chemicals.
In addition to environmentally hazardous substances produced by thermal power stations, the waterproof material will help protect heritage and archaeological structures from damage by rain and moisture in the atmosphere. It can also be used in information technology (IT), communications, textile, shipping, and other industries as a waterproofing agent. According to researchers, the material can also be used as a paint on the hull of ships, to make antennae anti-sticking and self-cleaning coating for automobiles. The new material is cheaper when compared with similar substances available in the market.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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