ASEAN Waterproofing Market Size (2024 - 2029)

The ASEAN waterproofing market is anticipated to experience significant growth, driven by increased government investment in construction projects. Despite the temporary setbacks caused by the COVID-19 pandemic, the market has shown recovery and is poised for expansion. While geopolitical concerns and trade volatility may pose challenges, the emergence of new markets and applications is expected to support the growth of the waterproofing membranes sector. Thailand is projected to lead the market in the forecast period.

ASEAN Waterproofing Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

ASEAN Waterproofing Market Size

Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 483.12 Million
Market Size (2029) USD 664.17 Million
CAGR (2024 - 2029) 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 483.12 million in 2024, and is expected to reach USD 664.17 million by 2029, at a CAGR of 7.07% during the forecast period (2024-2029).

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 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 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.

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ASEAN Waterproofing Market Size - Table of Contents

1. MARKET DYNAMICS

  • 1.1 Drivers
    • 1.1.1 Increasing Government Investments in Construction Projects
    • 1.1.2 Superior Properties Compared to Existing Alternatives
  • 1.2 Restraints
    • 1.2.1 Geopolitical Concerns and Volatility of Trade
    • 1.2.2 Limitations of Liquid-Applied Membranes
  • 1.3 Industry Value Chain Analysis
  • 1.4 Porters Five Forces Analysis
    • 1.4.1 Bargaining Power of Suppliers
    • 1.4.2 Bargaining Power of Consumers
    • 1.4.3 Threat of New Entrants
    • 1.4.4 Threat of Substitute Products and Services
    • 1.4.5 Degree of Competition

2. MARKET SEGMENTATION (Market Size in Value)

  • 2.1 System Type
    • 2.1.1 Cementitious Systems
    • 2.1.2 Membranes
    • 2.1.3 Water Stops
    • 2.1.4 Chemical Resisting Water Proofing System
  • 2.2 Applications
    • 2.2.1 Roofing and Walls
    • 2.2.2 Floor and Basement
    • 2.2.3 Water and Waste Management
    • 2.2.4 Tunnel Liner
    • 2.2.5 Bridge and Highway
    • 2.2.6 Other Applications
  • 2.3 Geography
    • 2.3.1 Malaysia
    • 2.3.2 Indonesia
    • 2.3.3 Thailand
    • 2.3.4 Singapore
    • 2.3.5 Philippines
    • 2.3.6 Vietnam
    • 2.3.7 Myanmar

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.