The "Global 1K Cementitious Waterproofing Mortar Market" is expected to grow at a high CAGR during the forecasting period (2022-2029).
1K cementitious waterproofing mortar is a one-component cementitious mortar used to stick building blocks such as bricks, stones and other similar building materials together. It is reinforced with admixtures, binders and other additives to improve its tensile strength, adhesion, toughness, and chemical resistance.
The market growth is driven by the rising demand for 1K cementitious waterproofing mortar with the rising urbanization and growing construction over the decade. According to UN World Urbanization Prospects, approximately 4 billion people live in urban areas. It is expected to reach 7 billion by 2030 due to rising living standards leading to the migration oliverom rural to urban areasareanization is raising the need for new buildings and infrastructures; according to the Institution of Civil Engineers, the volume of construction output would grow by 85% to $15.5 trillion worldwide by 2030. Rising construction activities increase the use of 1K cementitious waterproofing mortar due to its properties such as high tensile strength, adhesion and ease of use. Moreover, the easy availability of the 1K cementitious waterproofing mortar is stimulating market growth.
The market is witnessing an increase in technology advancement and product innovation worldwide over the forecasted period. For instance, In May 2017, Archroma had launched Mowilith POWDER 2702 re-dispersible polymer powder (RDP), a ground-breaking innovation to support the introduction of highly-practical and sustainable 1K (one-component) premium-performance waterproofing mortars for building and construction applications. It possesses several characteristics such as easy handling, only water requirement, economical, lower-weight packaging, easier application, reliable handling and others.
However, the fluctuations in the raw material price are hindering the market growth over the forecasted period.
Global 1K cementitious waterproofing mortar market is based on technology as fiber-reinforced mortar, re-dispersible polymer powder (RDP), polymer modified and others. The fiber-reinforced mortar segment accounts for the significant market size due to the rising demand of using fiber-reinforced 1K cementitious waterproofing mortar due to its characteristics one-component product, adjustable consistency, ease of use, good crack-bridging ability and good adhesion. It is widely used for the protection of structures including tanks, basins, pipes etc. It is easy to apply by using a brush or trowel. Sikalastic-1K is a one-component, crack-bridging, fiber-reinforced mortar, based on cement modified mostly preferred by the consumers for waterproofing of bathrooms, showers, terraces, balconies, swimming pools, waterproofing of external wall surfaces, and Flexible protection coating for reinforced concrete structures against the effects of freeze-thaw and carbon dioxide.
Re-dispersible polymer powder is expected to have positive market growth due to increased demand for re-dispersible polymer powder-based 1K cementitious waterproofing mortar due to its advantages, adhesion, and hydrophobicity. It provides an enhanced waterproofing performance in comparison to existing traditional 1K cementitious waterproofing mortars. It leads to less mortar cracking and provides better performance.
Further, the market is also classified based on application into residential and non-residential. The residential segment accounts for the significant market share due to the high demand of 1K cementitious waterproofing mortar to construct residential buildings, including independent houses, flats, apartments, farmhouses, etc.
Non- Residential segment is expected to have positive market growth. Consumers use 1K cementitious waterproofing mortars to construct non-residential buildings such as offices, resorts, banquets, clubs, etc. Its enhanced flexibility, excellent crack-bridging properties, mechanical properties, and resistance to frost and saltwater.
By region, the global 1k cementitious waterproofing mortar market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. Europe is one of the leading regions for 1k cementitious waterproofing mortar with a share of XX% in sales volume in 2018. The large-scale construction activities and growing demand for high-quality construction materials, especially in Germany, France, and the United Kingdom, drive market growth in this region. France is leading the construction of the industry in the European region. High usage of red, driver powder-based 1k cementitious waterproofing mortars. Several renovation activities are growing as there is a large number of old buildings in Europe. According to the European Parliament, more than 40% of Europe's buildings are built before 1960 and 90% before 1990. These old buildings consume more energy. Hence, renovation activities are expected to increase over the forecasted period, accelerating the demand for 1k cementitious waterproofing mortar.
The Asia Pacific is expected to have a positive market growth, accelerating 1k cementitious waterproofing mortars to develop infrastructures and new buildings with a rising population, especially in India and China. According to the India Brand Equity Foundation, the infrastructure contributes a major share to the Indian economy. India ranked 44th out of 167 countries in the World Bank's Logistics Performance Index (LPI) 2018. There are rising government initiatives for infrastructure development that will boost the Asia Pacific region's market size. For instance, according to the Department of Industrial Policy and Promotion (DIPP), the Foreign Direct Investment (FDI) received in the Construction Development sector for townships, housing, built-up infrastructure, and construction development projects was USD 25.12 billion from April 2000 to June 2019 in India. Several internal investors are spending on Indian infrastructure. It is expected that investment in infrastructure will increase and reach up to Rs 50 trillion by 2022 due to rising requirements of constructing new buildings with rising population and urbanization.
Several factors such as increasing government spending on infrastructures, growing disposable income of the middle class in countries such as Brazil, Argentina, and Colombia, easy maintenance and rising awareness regarding 1k cementitious waterproofing mortar shall accelerate the market growth over the forecasted period.
The global 1K cementitious waterproofing mortar market is witnessing heightened competition as there are several local and international players with competitive prices. Sika AG, Organik Kimya Company, PCI Bauprodukte AG, MAPEI, Archroma, and Armorsil are the leading market players with a significant market size. Market Players have an integrated supply chain, including raw material supply, manufacturing, and distribution.
Companies are using capacity expansion, product innovation, product differentiation, and market expansion strategies to increase the reach of 1K cementitious waterproofing mortar. For instance, in November 2019, Sika AG had opened a new mortar plant at its existing site in Addis Ababa, Ethiopia, to expand locally manufactured products. In September 2019, Sika AG had started operating a new facility for manufacturing mortars in Cameroon.
The companies enter into collaborations, mergers, strategic partnerships and acquisitions to increase the demand for 1K cementitious waterproofing mortar and their expansion across the globe. For instance, in November 2019, Sika acquired Adeplast SA to strengthen Sika’s position in the local construction chemicals market and extend its manufacturing footprint.
Moreover, the companies are raising the investment to accelerate the research and development activities, capacity expansion, and product diversification activities to increase acceleration traction. For instance, In April 2019, Sika AG had raised a bond with a total amount of CHF 300 million increasable tranches. The funding would support the growth strategy of Sika to serve the company’s long‐term, general financing and acquisitions.
**The global 1K Cementitious Waterproofing Mortar report will provide access to approximately 53 market data tables, 44 figures, and 178 pages
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