Sealings

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Liquid Waterproofing Coatings for Construction Industry 2022

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Floor Coatings based on Fluid Polymer Seals in Europe 2021

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Liquid Waterproofing Coatings for Construction Industry 2020

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Sealings & Fillers of Construction Joints in Europe 2019

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Customer Insight / Brand Insight: Processors / Applicator Survey - Liquid Waterproofing in Germany 2019

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Sealings and Fillers Benefit from Rise in Construction

The European sealing and filler market (sealants, adhesives, PU foams, joint sealing tapes) increased in value by 9.6% in 2018, reaching a market volume of EUR 1.2 billion. Driven by the increase in the construction industry, the market is expected to maintain its momentum in the coming years. According to a new study by Interconnection Consulting, the industry in the surveyed countries (Germany, Austria, Switzerland, France, the Benelux region, and Italy) will increase in value at an average rate of 9.0% until 2021.

Nearly 60% of total sales in Europe are generated in the non-residential building segment. In terms of value, however, price increases, which must be passed on to the customer due to increased raw material costs, are also a major driving force. Germany is by far the largest market for joint sealants in Europe, which is expected to grow at an annual rate of roughly 9.5% and reach EUR 547.2 million by 2021. France, the next largest market, had a share in value of over 25.0% of total sales in 2018.

 

Sealants Dominate

Sealants, accounting for 45.6% of total value in 2018, were the strongest product group on the market. It is dominated by silicones, whose share in terms of value accounted for 56.2%. Nevertheless, the market share of silicones is decreasing in favor of hybrids/MS polymers. “Industry insiders feel that hybrids, which will pick up the market share losses in the silicon segment, have great potential in the European marketplace,” states Julia Tarasenko, author of the study. The second largest product group is joint sealing tapes. Adhesives are close behind, though, with a share of 23%. They also stand a good chance of further increasing their market share. Until the year 2021, their projected average growth will be 10.0%, which is higher than the industry average. Joint sealants are largely employed in the window and door segment, which garners a share of 26.9%, followed by sanitary engineering and flooring. In addition to these applications, roofing, curtain wall facades, EIFS, HVAC, drywall and other applications were each analyzed, separately for indoor and outdoor use.

 

Green Trend Increases Market Concentration

As the study shows, market concentration is likely to increase in the sealing and filler market in Europe’s top 6 regions. This is because companies need resources for research and development in order to keep up with the current “green trends” and to meet the corresponding regulatory requirements. The Italian market is already considered to be very saturated. As a result, local market players are having a tougher time expanding and are forced to either focus on other products and solutions, or to implement new solutions and technological innovations in order to gain market share from competitors.There is an abundance of companies in the European market for joint sealants, whereby the main players include Arkema Group, DOW Chemicals, EGO Sealants, Griffon, Henkel, Herrmann Otto, Mapei, Otto Chemie, Sika, Soudal, Tremco Illbruck etc.

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Floor Coatings Will Also Increase in the Near Future

The European market for liquid plastic floor coatings increased in value by 20.4% last year. However, sales increased only minimally with a plus of 1.4% in 2021. However, a strong increase in sales of 6.5% is expected for 2022, as a new study by Interconnection Consulting shows.

Different Demand Drivers for Liquid Plastic Coatings

The strong increase in sales in the industry was mainly due to the price increase, which in turn was caused by the shortage of raw materials. In addition to the production stops in Asia in 2020, the shortage was also due to the winter storms in Texas, where one of the largest warehouses for plastic resin was badly affected.

The growth is being driven, among other things, by a high level of construction activity, increased demands for aesthetically pleasing surfaces, stricter hygiene standards and outdated parking garages that now need to be renovated. Increased conversions of buildings are another market driver – in Germany, for example, the transformation of the automotive industry to e-mobility, which is why WHG coatings are increasingly being requested. There is also a strong trend towards anti-static (ESD) floors, which are becoming a requirement in more and more production facilities due to the increasing use of computer chips. Clean rooms and clean rooms in laboratories and production halls, for which manufacturers also develop their own solutions, represent another area that is gaining in importance.

A substitution of ceramic floors with liquid synthetic floors, for example in canteen kitchens, fast food establishments, or in the food industry, also harbors growth potential for liquid resin-based floor coatings. Especially in the food sector, 3-component products such as PU concrete floors are being used more and more, which meet the special requirements in this area due to their resistance (e.g. hot water resistance), whereby the use outside of DACH for this type of coating is significantly higher.

Due to high opportunity costs during standstill, fast-hardening resin floors are used more and more frequently, not only in canteen kitchens, on industrial areas, but also in parking garages (especially in the entrance and exit areas and ramps), whereby the high costs of polyaspartics /polyurea, but also emissions (VOC), which play a role in PMMA, limit an even more frequent use of these products, precisely because price is often a key decision criterion.

Substitution with Other Types of Floor Coatings Slows Down Growth

Market growth in Western Europe could be even higher if liquid plastics were not increasingly substituted here by cementitious products or, more recently, by hydrophobic impregnations to a certain extent. The former were also less affected by the scarcity of raw materials and the sharp increase in the price of raw materials for liquid plastic products, making them even more attractive in terms of price.

Germany with the Largest Share

The study examines the ten largest markets in Europe. With a share of 30.2%, Germany is by far the largest market, followed by France and the Netherlands. The countries Italy and Spain recorded the strongest increase in sales last year with more than 26%. Romania, on the other hand, has the greatest growth potential in the next few years with average annual growth rates of over 10%, although the market in Romania is still significantly less saturated than in other countries.

Industrial Floors Are the Main Customers

The dominant binder in all markets examined is epoxy resin. In Germany, this floor coating accounts for 51.1%. Austria has the highest proportion at 55.9%, while Belgium has the lowest at 37.1%. In addition to epoxy resins, the study also examined the importance of polyurethanes (PU), PMMA (polymethyl methacrylate), acrylates, polyurea & polyaspartics, as well as “other product groups” (e.g. PU concrete. The customer segments are dominated by production facilities & factories – i.e. classic industrial floors in 7 out of 10 markets Only in Austria, Switzerland and Romania are the parking garages the largest sales segment.

Strong M&A Activity in the Market

In Germany, the market concentration of the top 5 companies is 72%. Sika in particular was able to significantly expand the group’s market position thanks to its already very strong position in many European countries through the recent takeover of the MBCC Group (also one of the top 5 players in many countries). Basically, the market is currently in a dynamic period with many takeovers. This is also the case in France, where Mapei, for example, recently gained a strong position with the takeover of Resipoly.

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Market for Liquid Waterproofing Will Recover from Mid 2021

The European market for liquid waterproofing is being hit hard by the crisis. This year the industry has to expect a decline of 5.9%, as a new study by Interconnection Consulting shows. However, this will not be the bottom yet, as a further decline of 8.2% is expected for 2021. From today’s point of view signs of a recovery will only be visible in the second half of next year.

Different Speeds of Recovery

The liquid waterproofing market is not predicted to fully recover until 2023. The study shows that in 2023, the European market will grow by 11% in value terms. Between 2020 and 2023, Russia will show the highest growth rate of all countries according to current estimates. The largest market for liquid waterproofing is Germany. Germany is also in for a positive future, with an expected average annual growth rate of 2.0% until 2023. The outlook is somewhat more pessimistic for France or Italy, which will not reach pre-crisis levels until 2023. However, this is mainly due to the fact that there was already a decline in construction activity in these countries in 2019.

Polymer Seals in the Lead

Liquid polymer is the preferred waterproofing material in Europe, with a share of 60.1%, placing it far ahead of bitumen and cement. Within the group of polymeric waterproofing, PMMA or acrylic glass is the strongest product. It is also the product with the highest growth, due to the trend towards solution-free products. Overall, however, the market is very diverse. In Italy, bitumen products dominate with a share of 48 percent. Residential construction is the most important customer segment in Europe with a market share of around 50 percent, with a slight upward trend.

Diversification Pays Off

Competition in the industry is very high, especially among the market leaders, but there is still enough room for smaller companies, explains Julia Tarasenko, the author of the study. During the pandemic, it was evident that companies with strong diversification, both in terms of products and markets, were most successful in overcoming the crisis and in many cases were even able to avoid declining sales. Overall, the market share of the top ten companies increased considerably from 49.9% to 52.1% compared to the previous year. Some of the most important companies are Triflex, Sika, Mapei, StoCretec, Soprema, Weber, Remmers, Evonik, BASF and MC Bauchemie.

The study examined the following markets: Austria, Belgium, France, Germany, Italy, Netherlands, Poland, Russia, Spain, Switzerland, United Kingdom, Rest of Europe.

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Hohes Wachstum für Fugenabdichtungen im DACH-Raum

Der Markt für Fugenabdichtungen (Dichtstoffe, Klebstoffe, Schäume, Fugen- Dichtbänder) im DACH-Raum  hat 2018 einen wertmäßigen Anstieg von 10,1% verzeichnet und hält nun bei einem Marktvolumen von 487 Mio. Euro. Getrieben durch den Anstieg in der Hochbauindustrie soll der Markt auch in den nächsten Jahren die Dynamik beibehalten. Bis 2021 wird das durchschnittliche Wachstum 9,2% jährlich betragen, wie eine neue Studie von Interconnection Consulting zeigt.

Deutschland wächst am stärksten

Neben der starken Bautätigkeit stellen in Deutschland auch Preissteigerungen einen wesentlichen Treiber dar, die aufgrund gestiegener Rohstoffkosten an den Kunden weitergegeben werden müssen. Dies führt zu einem CAGR von 9,5% und einem prognostizierten Marktvolumen von 547,2 Mio. Euro bis zum Jahr 2021. Mit 46,1% sind die Dichtstoffe die stärkste Produktgruppe in Deutschland. Vor allem durch den Preisanstieg von Silikonen haben im Bereich der Dichtstoffe Hybride das größte Wachstumspotential. Klebstoffe sind die zweitgrößte Produktgruppe, die mit einem Anteil von 23,9% dicht gefolgt werden von den PU-Schäumen (22,7%).

Schweiz und Österreich mit ähnlicher Entwicklung

Auch in Österreich sind es hauptsächlich die Preisanstiege, die zu einer deutlichen Steigerung des Umsatzes beitragen (CAGR bis 2021 7,3%). In Österreich sind Klebstoffe mit einem Marktanteil von 35,2% die umsatzstärkste Produktgruppe, gefolgt von Dichtstoffen mit 30,1%. Danach folgen die PU-Schäume mit 27,2%. Ähnliches wie in Österreich gilt für die Schweiz, wo das CAGR bis 2021 6,5% beträgt. In der Schweiz sind die Dichtstoffe mit einem Anteil von 36,1% die wichtigste Produktgruppe. Danach folgen Klebstoffe mit 23,6% und PU-Schäume mit 21,3%.

Grüne Wende verstärkt Marktkonzentration

Die Marktkonzentration bei Fugenabdichtungen wird, wie auch in Gesamteuropa in der DACH-Region zunehmen. Denn die immer höheren Ressourcen die notwendig werden um Forschungs- und Entwicklungsaktivitäten durchzuführen, um mit den aktuellen „grünen Formulierungstrends“ Schritt zu halten und die einschlägigen regulatorischen Anforderungen zu erfüllen, werden vor allem größere Unternehmen bevorzugen. Die wichtigsten Unternehmen in der Branche sind Sika, Soudal, Tremco Ilbruck, Hermann Otto, Arkema Group EGO Dichtstoffe, Henkel, PCI.

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Leading Companies trust in Interconnection Consulting

Admonter

At the IC Impulsworkhop "Sales Optimization" we appreciate not only the practical relevance, but also the eloquent language and the perfect rhetoric. The most important benefit for our company was the sales pipeline. Adrian Capellarie (Head of Sales Admonter Holzindustrie)

Deutscher Holzfertigbau Verband

Interconnection provides us with the prefabricated house study a plausible and veritable data basis for the analysis of the actual situation in the prefabricated house market and beyond for the assessment of the future market development. We are happy to use this interpreted data for our lobbying and everyday work.

Thomas Schäfer (Managing Director, Deutscher Holzfertigbau-Verband)

ELK

The prefabricated housing study by Interconnection Consulting shows a real picture of the actual market situation and forms a valuable basis for our strategic decisions.

Gerhard Schuller (CFO ELK)

Epson

EPSON is satisfied with the Interconnection's way of communication with the market and with clients. EPSON is also appriciate the Interconnection's continuous work trying to aim the report to be at the higher level. As a result, EPSON rely on Interconnection data, for the market of POS Printers and Systems.

T.Murakami (Brand Management, Seiko Epson Corporation)

Gaulhofer

I appreciate on the forum "Impulsworkshop Vertriebsoptimierung" the practical relevance of Peter Berger linked with his practical examples. I also liked the sovereign presentation style. The most important benefit was for me, on the one hand refresh of methods and also the sales management tools that were shown. Ing. Dietmar Hammer (Head of Product Management Gaulhofer)

Kontron

The most important benefit of the Impulsworkshop "sales optimization" was in my view the procedure of the definition of strengths and the entire sales process. Mr. Berger is very competent and professional. Fabian Freund (Sales Manager, Kontron Austria)

Österreichs Personaldienstleister

The sales management tool ZAIS has become indispensable for many Austrian temporary staffing providers for fast and correct sales management decisions. A tailor-made online cockpit provides comprehensive monthly figures and data on temporary work and the labor market in Austria, while at the same time impressing with its overview and intuitive user guidance. Interconnection Consulting has consider individually to all user needs during development process and also convinces with fast response times during operation.

Dr. Gertraud Höltl (Generalsekretärin Österreichs Personal Dienstleister)

Saint Gobain

Long experience and deep understanding of the construciton industry markets make up the quality of the IC studies. Interconnection Consulting is a constant companion concerning the assessment of markets and helpful for decision-making.

Bernd Blümmers (Directeur General, Saint-Gobain Solar Systems, Central Europe, Aachen)

Salamander

Interconnection Consulting reports deliver a worthfull external perspective and are so a good contrast with regards to our internal market point of views.

Pedro Posada (CEO Salamander Industrial Products Spain)

Scandinavian Business Seating

The IC Report gives a very good overview of the Western European office furniture market, in a well-structured way. The data is helpful to better understand the market developments and drivers.

Beatrice Sotelo (Director Business Development , Scandinavian Business Seating)

Schneider Electric

Under a short time constraint, Interconnection was able to deliver an outstanding study that exceeded my expectation in terms of quality and market breadth. I highly recommend Interconnection to anyone in need of market research.

Jeff Canterberry (Director of Strategy and M&A, Schneider Electric)

Sodexo

When developing new market strategies, Interconnection is a trusted source we always come back to. Christian Frey (Marketing Manager CS DACH)

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