Market Size of ASEAN Waterproofing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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ASEAN Waterproofing Market Analysis
The market for ASEAN waterproofing is expected to register a CAGR of more than 6.5% during the forecast period.
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.
- The main thing that is driving the growth of the market is that the government is putting more money into building projects.
- Factors like geopolitical concerns and the volatility of trade are likely to hinder the growth of the market.
- The growth of the waterproofing membranes market is likely to be helped by new markets and applications that are just starting up.
- By country, Thailand is expected to dominate the market during the forecast period.
ASEAN Waterproofing Industry Segmentation
Waterproofing is a process to make any surface or structure resistant to water by applying various systems or membranes. This helps in the prevention of environmental liquid penetrating into systems. The market for ASEAN waterproofing is segmented by systems, applications, and geography. By systems, the market is segmented into cementitious, dispersion, joint sealants, bitumen asphalt, chemical-resistant waterproofing, primers, and membrane systems. By applications, the market is segmented into bridge deck waterproofing and traffic systems/topcoat. 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 revenue (in USD million).
| Geography | |
| Malaysia | |
| Indonesia | |
| Thailand | |
| Singapore | |
| Philippines | |
| Vietnam | |
| Myanmar |
ASEAN Waterproofing Market Size Summary
The ASEAN waterproofing market is poised for significant growth, driven by increased government investment in construction projects across the region. Despite the initial setbacks caused by the COVID-19 pandemic, which temporarily halted construction activities, the market has shown resilience and is expected to expand robustly in the coming years. The demand for waterproofing solutions is primarily fueled by the need to prevent leakage in commercial and institutional buildings, with PVC and TPO roofing systems gaining popularity due to their durability and efficiency. However, geopolitical concerns and trade volatility pose potential challenges to market growth. Thailand is anticipated to lead the market, supported by substantial investments in infrastructure and construction projects, including roads, railways, and mass transit systems.
The growing trend of high-rise buildings and the increasing need for basement construction, particularly in urban areas, are further propelling the demand for waterproofing solutions. These solutions are essential in water- and waste-retaining structures to prevent issues like seepage and corrosion. The market is characterized by a partial consolidation, with major players such as BASF SE, Sika AG, MAPEI S.p.A., Bostik, and Fosroc, Inc. holding significant market shares. Recent developments, such as Sika AG's expansion of its product portfolio, highlight the ongoing innovation and adaptation within the industry. As the construction sector continues to grow, particularly in Thailand, the demand for advanced waterproofing systems is expected to rise, ensuring the market's robust expansion during the forecast period.
ASEAN Waterproofing Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Government Investments on Construction Projects
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1.2 Restraints
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1.2.1 Geopolitical Concerns and Volatility of Trade
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1.3 Industry Value Chain Analysis
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1.4 Porters Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Geography
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2.1.1 Malaysia
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2.1.2 Indonesia
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2.1.3 Thailand
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2.1.4 Singapore
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2.1.5 Philippines
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2.1.6 Vietnam
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2.1.7 Myanmar
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ASEAN Waterproofing Market Size FAQs
What is the current ASEAN Waterproofing Market size?
The ASEAN Waterproofing Market is projected to register a CAGR of greater than 6.5% during the forecast period (2024-2029)
Who are the key players in ASEAN Waterproofing Market?
BASF SE, Sika AG, MAPEI S.p.A., Fosroc, Inc. and Bostik are the major companies operating in the ASEAN Waterproofing Market.
