Rise in demand for clean water for municipal/industrial applications and increase in building & construction of warehouses drive U.S. waterstop by market
PORTLAND, OREGON, UNITED STATES, August 10, 2021 /EINPresswire.com/ — According to the report published by Allied Market Research, the U.S. waterstop market generated $750.6 million in 2019, and is estimated to garner $983.5 million by 2027, witnessing a CAGR of 4.9% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, competitive scenario, top segments, key investment pockets, value chain, and regional landscape.
Rise in demand for clean water for municipal/industrial applications and increase in building & construction of warehouses drive the growth of the U.S. waterstop market. However, lack of consumer awareness, stringent regulations, and high cost regarding waterstop hinder the market growth. On the other hand, various benefits in the construction sector create new opportunities in the coming years.
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Manufacturing activities were partially or completely halted due to the lockdown imposed by governments of many countries. Moreover, supply chain activities were hampered and bans were imposed on import-export activities.
The demand from the construction sector reduced as the activities stopped during the lockdown. However, the demand is expected to rise steadily post-lockdown.
The report provides detailed segmentation of the U.S. waterstop market based on material, application, and end use.
Based on material, the PVC segment accounted for the largest market share in 2019, contributing to more than two-fifths of the total share, and is estimated to maintain its leadership status throughout the forecast period. However, the rubber segment is expected to manifest the highest CAGR of 5.0% from 2020 to 2027.
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Based on application, the water tanks segment held the highest share in 2019, accounting for around two-fifths of the U.S. waterstop market, and is projected to maintain its lead position during the forecast period. However, the tunnels segment is estimated to register the largest CAGR of 5.0% from 2020 to 2027.
Based on end use, the commercial segment contributed to the highest market share in 2019, accounting for more than half of the total share in 2019, and is estimated to maintain its dominant share in terms of revenue by 2027. However, the residential segment is expected to witness the fastest CAGR of 5.0% during the forecast period.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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