The polymer modified cementitious coating market is expected to develop at a CAGR of over 4% during the forecast period. The major factor driving the growth of the polymer-modified cementitious coating market is its high demand from the residential buildings segment. On the other side, unfavorable conditions emerging because of the unexpected episode of COVID-19 is foreseen to thwart the development of the market considered.
– Polymer Modified Cementitious Coating products are extensively used for application as water seals to surfaces of a wide range of building components. It is utilized as a consistent, impenetrable covering on a level rooftop for both uncovered and concealed waterproofing applications.
– Asia-Pacific is expected to be the largest market due to rapid urbanization and high demand for residential building projects in the region.
Key Market Trends
Residential Buildings Largest Segment for Polymer Modified Cementitious Coating Market
– Cementitious coatings are commonly two-part mixes utilized behind the tile, over brickwork fixing, and over solid surfaces. These above and beneath grade waterproofing coatings have a great affinity to cement and stonework substrates because of their cementitious nature, and hence solid holding quality. Moreover, the polymer modifier contributes to the flexibility properties.
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– It is utilized as a consistent, impenetrable covering on a level rooftop in residential buildings for both uncovered and concealed waterproofing applications basements, water holding structures, underground solid structures, pits, basins, sumps, and so on.
– It is anticipated that the revenue of new residential construction in the United States will reach up to roughly USD 585.7 billion by 2023.
– The residential housing industry for students in India is projected to reach a market value of USD 320 million in 2020 from USD 170 million in 2018.
– All the aforementioned factors are expected to drive the polymer modified cementitious coating market during the forecast period.
Asia-Pacific Region to Dominate Polymer Modified Cementitious Coating Market
– Asia-Pacific region holds a prominent share in the polymer modified cementitious coating market globally and is expected to dominate the market during the forecast timeline.
– The region has seen rapid urbanization in the last few years as the developing countries like China, India, Indonesia, etc. from the region are becoming a global hub for several businesses across the world.
– In 2020, the revenue from the smart home market segment is expected to be USD 34.56 billion and is forecasted to grow up to market value of USD 56.6 billion by 2023.
– The Asia-Pacific region dominates the buildings & construction business over the world contributing about 46% of the worldwide spending in the construction sector.
– Thus, rising demand from various industries is expected to drive the market studied in the region during the forecast timeframe.
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