ASEAN Waterproofing Market Size
| 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 Market Trends
This section covers the major market trends shaping the ASEAN Waterproofing Market according to our research experts:
Traffic Systems/Topcoats to Boost the Market Demand
- Waterproofing solutions are mainly used in commercial and institutional applications to prevent any kind of leakage in the building structure. Leakage in the building, especially from roofs and walls, has been a cause of concern due to water leakage from different parts of the building.
- PVC roofing systems have witnessed tremendous growth in recent years, due to a variety of standout characteristics, including longevity, durability in harsh weather and temperature extremes, low lifecycle costs, energy efficiency, heat and solar reflectance, flame resistance, chemical and grease resistance, ease of maintenance, ease and flexibility of installation, and inherent recyclability and re-use, among many other benefits.
- TPO roofing membranes are also used, as they are highly resistant to tears, impacts, and punctures, with good flexibility to allow for building movement. TPO membranes contain no toxic or hazardous ingredients and are fully recyclable.
- In certain spaces, such as at or below ground level, waterproofing is necessary, according to the building codes for structures. Moreover, floor waterproofing in bathrooms and other commercial and industrial locations also remains one of the important steps during the construction stage.
- Basement construction is increasing considerably nowadays, due to the increasing construction of high-rise buildings and the growing trend of housing apartments. Moreover, with the growing IT sector, the need for parking spaces has increased in urban areas, owing to which basement parking areas have been turning out to be a feasible method. Such factors have led to increased basement construction.
- Waterproofing is essential in water- and waste-retaining structures, which further creates the demand for waterproofing solutions. In water-retaining structures, whose purposes range from drinking water storage and septic tanks to all liquid containers in industries, waterproofing is necessary to avoid issues such as seepage, container damages, cracking, surface corrosion, etc.
With such trends, the demand for waterproofing solutions for such traffic systems has been increasing.
Thailand to Dominate the Market
- The Thai construction industry is expected to grow at a fast rate over the next few years, mostly because the government and other countries are investing more money in the sector.
- In addition, the allotment of SEZ in the country is attracting more investors, primarily for the construction of new projects. In addition to buildings, infrastructure projects like roads, railways, ports, and airports are likely to grow a lot over the next few years.
- According to the UK-ASEAN Business Council, the government of Thailand is planning to invest around EUR 11.5 billion (USD 13.10 billion) in double-track rail projects in order to improve transportation competence. In addition, the government is planning to invest EUR 14 billion (USD 15.95 billion) in mass transit systems in Bangkok, primarily to expand the network from 110 km to 464 km.
- The country's construction market is expected to be worth approximately USD 25 billion in 2021.
- There are numerous ongoing construction projects in the country that are supported by various government plans. This includes projects in the commercial sector, water infrastructure, industrial construction, and several others.
During the forecast period, the above factors are likely to drive the need for waterproofing systems in Thailand.
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 include BASF SE, Sika AG, MAPEI S.p.A., Bostik, and Fosroc, Inc. (not in any particular order)
ASEAN Waterproofing Market Leaders
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BASF SE
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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
*Disclaimer: Major Players sorted in no particular order
ASEAN Waterproofing Market News
- July 2022: Sika AG expanded its product portfolio as it partnered with insulation expert manufacturer All Weather Insulated Panels and launched a product that will contain PVC roof membrane of Sika AG and AWIP Dekinsulated roof panel of AWIP.
- May 2022: Sika AG expanded its portfolio of single-ply roofing membranes with the launch of SarnafilAT which combines the benefits of FPO and elastomer to result in a hybrid model with exceptionally high durability and easy application. The launched product is the only thermoplastic roofing membrane in the world with the Cradle to Grave Certification.
ASEAN Waterproofing Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Government Investments on Construction Projects
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4.2 Restraints
- 4.2.1 Geopolitical Concerns and Volatility of Trade
- 4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Geography
- 5.1.1 Malaysia
- 5.1.2 Indonesia
- 5.1.3 Thailand
- 5.1.4 Singapore
- 5.1.5 Philippines
- 5.1.6 Vietnam
- 5.1.7 Myanmar
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 BASF SE
- 6.4.2 Bostik
- 6.4.3 Campbridge Paints Inc.
- 6.4.4 CHRYSO
- 6.4.5 Dow
- 6.4.6 Fosroc, Inc.
- 6.4.7 MAPEI S.p.A.
- 6.4.8 Minerals Technologies Inc.
- 6.4.9 Pidilite Industries Ltd.
- 6.4.10 Saint-Gobain Weber.
- 6.4.11 Sika AG
- 6.4.12 SOLMAX
- 6.4.13 SOPREMA Group
- 6.4.14 SWC Construction
- 6.4.15 Xypex Chemical Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 New Emerging Markets and Applications Regarding Waterproofing Membranes
- 7.2 Other Opportunities
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 Research 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.
What years does this ASEAN Waterproofing Market cover?
The report covers the ASEAN Waterproofing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the ASEAN Waterproofing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
ASEAN Waterproofing Industry Report
Statistics for the 2024 ASEAN Waterproofing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. ASEAN Waterproofing analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
