Usually April-June quarter is the key season for waterproofing business but that may not be any longer. According to many dealers, waterproofing business continued to perform well in the third quarter this year though it was a non-season for the industry.
Dealers attribute it to the fact that many consumers are waterproofing their houses while painting and (2) the paint companies have also increased the investments in waterproofing. 2020 and 2021 years are exceptions as the normal busy season coincided with lockdowns forcing the consumers to carry out waterproofing during off-season.
But it is also true that many paint manufacturing companies have invaded the waterproofing business which may be helping the industry to lose its seasonality character.
Waterproofing is about Rs 6,000 crore market despite which it has attracted many new players in last few years. Most of the leading paint manufacturers including Asian Paints, Berger Pants, Kansai Nerolac and AkzoNobel – all have introduced waterproofing products of their own. In fact, Asian Paints is the second largest waterproofing company with 23% market share, next only to market leader, Pidilite Industries. Berger Paints, another leading paint manufacturing company also enjoys 12% market share. Akzo Nobel, Kansai Nerolac and Astral Poly are recent entrants in the waterproofing/construction chemicals market. There are global players such as Fosroc, SIKA, BASF but these players largely operate in B2B markets.