| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 517.28 Million |
| Market Size (2030) | USD 727.88 Million |
| CAGR (2025 - 2030) | 7.07 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
ASEAN Waterproofing Market Analysis
The ASEAN Waterproofing Market size is estimated at USD 517.28 million in 2025, and is expected to reach USD 727.88 million by 2030, at a CAGR of 7.07% during the forecast period (2025-2030).
The market has been negatively impacted by the COVID-19 outbreak in 2020, considering government-imposed lockdowns in various countries. Such factors temporarily stopped construction activities in the ASEAN region. However, the market recovered in 2021 and is expected to grow significantly in the coming years.
- Increasing government investments in construction projects and superior properties compared to existing alternatives are expected to drive market growth during the forecast period.
- Factors like limitations of liquid-applied membranes, geopolitical concerns and the volatility of trade are likely to hinder the growth of the market.
- New emerging markets and applications for waterproofing membranes and other opportunities are projected to create market opportunities.
- By country, Indonesia is expected to dominate the market during the forecast period.
ASEAN Waterproofing Market Trends
Roofing and Walls Segment to Dominate the Market
- Commonly employed in both residential and commercial buildings, cementitious waterproofing serves to safeguard roofs and walls. This method stands out as an effective, cost-efficient, and adaptable solution, ensuring robust protection against water damage.
- In roofing applications, professionals commonly utilize liquid-applied membranes derived from acrylics, polyurethanes, polymethyl Methacrylate (PMMA), and polyurea. Additionally, roofing applications also employ sheet membranes crafted from styrene-butadiene-styrene (SBS), polyethylene (PE), polyvinyl chloride (PVC), thermoplastic polyolefin (TPO), among others.
- While aesthetics often take center stage in building design, their longevity hinges on effective waterproofing of roofs and walls. Each year, numerous households and commercial buildings face challenges due to insufficient waterproofing. However, timely intervention can prevent significant water-related damage.
- In November 2024, Danang unveiled four significant commercial housing initiatives in Vietnam.
- The inaugural project, Olalani Riverside Towers, is situated in the Nai Hien Dong ward of the Son Tra district. United First JSC commenced construction in June 2024, with plans for 1,425 apartments and 113 single-family homes.
- The second initiative is an apartment complex located at Lots B4-1 and B4-2 in the tourism-service zone of My An ward, Ngu Hanh Son district. Cu Lao Cham Investment Tourism Trade JSC is spearheading this project, which will feature 679 apartments.
- As of November 2024, the Ministry of Housing and Local Government (KPKT) has built and refurbished 5,000 homes since 2023. This initiative received a total allocation of MYR 91.15 million (~USD 19.95 million), with MYR 40.81 million (~USD 8.96 million) disbursed in 2023 and MYR 50.34 million (~USD 10.99 million) in 2024. Looking ahead to 2025, the government plans to allocate nearly MYR 60 million (~USD 13.10 million) for refurbishing old homes and constructing new ones, aiming to address urban poverty.
- As of May 2024, Thailand’s Board of Investment (BOI) has granted investment privileges to new residential projects aimed at low-income individuals. Applications for these privileges must be submitted to the BOI by the end of 2025.
- These factors underscore the growing demand for waterproofing in both residential and commercial buildings, propelling the waterproofing market's growth during the forecast period.
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Indonesia to Dominate the Market
- Urbanization, infrastructure development, and heightened awareness of waterproofing solutions are propelling the growth of Indonesia's waterproofing market. The construction boom, especially in residential and commercial sectors, coupled with government initiatives to uplift infrastructure and housing standards, are the primary catalysts.
- The market boasts a wide array of products, spanning membrane-based, cementitious, and liquid-applied solutions.
- Key players in the arena include Sika Indonesia, Saint-Gobain, and Fosroc Indonesia. Notably, Sika derives 85% of its turnover in Indonesia from traditional “mom-and-pop” stores. The company's focus is on waterproofing products and mortars for floors and walls. These categories dominate all stores. Given Indonesia's heavy rainfall, the company's waterproofing solutions are perfectly tailored for this market. Thus, Sika's brand enjoys significant recognition across Indonesia.
- Indonesia stands out as one of Southeast Asia's largest and fastest-growing markets, with infrastructure development, urbanization, and housing projects driving a surge in demand for waterproofing solutions. Notably, the Indonesian government has earmarked approximately USD 1 billion to its ambitious program of constructing one million housing units nationwide.
- Sequoia Hills Sentul Residential Development: Spanning 95 ha in Bogor, West Java, Indonesia, this residential project kicked off in Q4 2023 and is slated for completion in Q1 2027.
- Data from the Ministry of Investment / Indonesia Investment Coordinating Board (BKPM) reveals that in 2023, foreign direct investments in specialized construction in Indonesia reached about USD 115.6 million, while building construction attracted around USD 46 million. The nation boasted approximately 143.66 thousand active small construction establishments, underscoring the industry's growth, largely fueled by escalating infrastructure projects.
- The construction sector received a significant boost when the government announced its capital shift to Nusantara on Borneo Island, a move to alleviate the overcrowded and sinking Jakarta. In line with this, the government invested IDR 32 Billion (~USD 1.92 billion) in infrastructure construction in 2023.
- As of September 2024, South Korea is injecting USD 690 million into Indonesia’s ambitious underwater tolled tunnel project. This tunnel will link to the new capital, Nusantara, and is a pivotal segment of the 47 km expressway connecting to Balikpapan’s Sepinggan International Airport. Managed by Indonesia’s Ministry of Public Works and Housing (PUPR), the project, with a total cost of USD 736.6 million, is set to commence construction at the end of 2024.
- These infrastructural developments and investments are set to significantly boost the demand for waterproofing solutions in Indonesia.
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ASEAN Waterproofing Industry Overview
The ASEAN Superabsorbent Polymers Market is partially consolidated, with the top five players accounting for a major share of the market. The key players in the market (not in any particular order) include Sika AG, Saint-Gobain, Fosroc, Inc., MAPEI S.p.A., and Arkema (Bostik) among others.
ASEAN Waterproofing Market Leaders
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Sika AG
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MAPEI S.p.A.
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Fosroc, Inc.
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Bostik
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Saint-Gobain
- *Disclaimer: Major Players sorted in no particular order
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ASEAN Waterproofing Market News
- June 2024: Saint-Gobain announced a definitive agreement to acquire Fosroc, Inc., a prominent player in global construction chemicals, particularly in Asia-Pacific. Fosroc, Inc.’s product lineup includes concrete and cement admixtures and additives, adhesives and sealants, waterproofing solutions, concrete repair services, and flooring solutions. The completion of this acquisition is contingent upon standard conditions and is anticipated in the first half of 2025.
- July 2024: Dow introduced NORDEL REN, a bio-based variant of its Ethylene Propylene Diene Terpolymers (EPDM) rubber. This innovative material finds applications in automotive, infrastructure, and consumer sectors, including building profiles, roofing membranes, and wire and cable.
ASEAN Waterproofing Industry Segmentation
Waterproofing is the application of impermeable layers on the surfaces of foundations, walls, roofs, and other parts of a building, which can be concrete, membranes, or fabric, to prevent water penetrations.
The market for ASEAN waterproofing is segmented by system type, applications, and geography. By systems, the market is segmented into cementitious, membrane, water stops, and chemical-resistant waterproofing systems. By applications, the market is segmented into roofing and walls, floor and basement, water and waste management, tunnel liners, bridges and highways, and other applications (dams, water reservoirs, artificial lakes, swimming pools, parking decks, and tank linings). The report also covers the market size and forecasts for the waterproofing market across 7 countries in the ASEAN region. For each segment, the market sizing and forecasts have been done on the basis of value (USD).
| System Type | Cementitious Systems |
| Membranes | |
| Water Stops | |
| Chemical Resisting Water Proofing System | |
| Applications | Roofing and Walls |
| Floor and Basement | |
| Water and Waste Management | |
| Tunnel Liner | |
| Bridge and Highway | |
| Other Applications | |
| Geography | Malaysia |
| Indonesia | |
| Thailand | |
| Singapore | |
| Philippines | |
| Vietnam | |
| Myanmar |
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ASEAN Waterproofing Market Research FAQs
How big is the ASEAN Waterproofing Market?
The ASEAN Waterproofing Market size is expected to reach USD 517.28 million in 2025 and grow at a CAGR of 7.07% to reach USD 727.88 million by 2030.
What is the current ASEAN Waterproofing Market size?
In 2025, the ASEAN Waterproofing Market size is expected to reach USD 517.28 million.
Who are the key players in ASEAN Waterproofing Market?
Sika AG, MAPEI S.p.A., Fosroc, Inc., Bostik and Saint-Gobain are the major companies operating in the ASEAN Waterproofing Market.
What years does this ASEAN Waterproofing Market cover, and what was the market size in 2024?
In 2024, the ASEAN Waterproofing Market size was estimated at USD 480.71 million. The report covers the ASEAN Waterproofing Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the ASEAN Waterproofing Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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ASEAN Waterproofing Industry Report
Statistics for the 2025 ASEAN Waterproofing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. ASEAN Waterproofing analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
