According to the research report titled ‘Global Waterstop Market Size study, by Material (Polyvinyl Chloride (PVC), Rubber, Metals, and Others), by Product (External Waterstop, Internal Waterstop, Expansion Waterstop), by Application (Industrial, Residential and Others), and Regional Forecasts 2021-2027’, available with Market Study Report, global waterstop market was worth USD 2.3 billion in 2020 and is reckoned to register a CAGR of 5.1% during 2021-2027, to accumulate USD 3.26 billion by the end of the forecast period.
 

Heightening investments in water management projects, and rapid surge in construction activities are acting as major impetus for global waterstop market growth. Notably, the U.S. Department of Agriculture (USDA) invested USD 256 million in 2018 to enhance water and wastewater infrastructure across 35 states.
 

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Additionally, numerous initiatives towards wastewater reduction at construction sites, coupled with technological advancements in manufacturing sector are likely to propel industry demand.
 

For the record, a waterstop is a component in concrete structures used to prevent the passage of fluids. It is extensively utilized in construction projects such as tunnels, dams, canals, water treatment facilities, aqueducts, foundations, parking structures, and storage tanks.
 

Elucidating on the negatives, surging product costs coupled with a lack of awareness regarding its use may hamper industry development over the forecast period.
 

Based on material type, worldwide waterstop industry is classified into polyvinyl chloride (PVC), metal, rubber, and others. By product type, the market is fragmented into internal, external, and expansion waterstops. Considering application ambit, the business domain is split into residential, industrial, and others.
 

From a regional frame of reference, Latin America (Brazil, Mexico), North America (Canada, U.S.), Asia Pacific (China, Japan, Australia, India, South Korea, RoAPAC), and Europe (UK, France, Spain, Italy, Germany, ROE) are touted to be as major avenues for industry expansion.
 

Among these, Asia Pacific market is slated to gain a remarkable CAGR over the assessment period, on the back of supportive government initiatives, heavy construction activities, and inflowing investments across the manufacturing sector by prominent companies.
 

Key contenders profiled in global waterstop market report are W.R. Meadows Inc., Williams Products Inc., West American Rubber Company LLC, Trelleborg AB, Sika AG, Minerals Technologies Inc., JP Specialties Inc., Henry Company, GCP Applied Technologies Inc., and BoMetals Inc.