Asia Pacific Waterproofing Chemicals Market size reached USD 363.1 million in 2018. The market is projected to top USD 1,223.1 million by end of 2033, representing 9.6% CAGR in the evaluation period between 2023 and 2033. It is likely to surpass a valuation of about USD 491.1 million in 2023.
Demand for waterproofing chemicals in Asia Pacific has been experiencing a remarkable surge in recent years due to several key factors. One of the primary drivers is rapid urbanization and industrialization across several countries in the region.
As these nations undergo significant infrastructural development, there is a heightened need to protect buildings, bridges, and other structures from detrimental effects of water infiltration. Waterproofing chemicals play a crucial role in safeguarding these constructions, ensuring their longevity, and reducing maintenance costs over time.
Increasing frequency of extreme weather events such as heavy rainfall and typhoons has intensified demand for waterproofing solutions in Asia Pacific. With climate change causing unpredictable weather patterns, there is a high risk of water damage to buildings and infrastructure.
Governments, construction firms, and property owners are hence recognizing the importance of incorporating robust waterproofing systems into their projects. These might help to mitigate potential risks and avoid costly repairs.
Booming construction sector in several Asia Pacific countries is another significant factor fueling waterproofing chemical demand. Countries such as China, India, and Indonesia have been witnessing a construction boom with the rise of residential and commercial projects.
Increasing infrastructure development and public works initiatives are also expected to aid growth. Surging construction activities has created a substantial market for waterproofing chemicals. Developers might seek reliable and efficient ways to protect their investments from water-related damages and structural deterioration.
Growing awareness of sustainable and environmentally friendly construction practices has contributed to increased adoption of waterproofing chemicals in Asia Pacific. As green building certifications and regulations gain traction across the region, developers and architects are actively seeking eco-friendly solutions.
Numerous waterproofing chemicals might boast environmentally conscious formulations, promoting their use as an essential component of sustainable construction practices. Expanding middle class and rising disposable incomes in several countries have propelled demand for better quality housing and infrastructure. Demand for higher standards of living and need to meet these expectations are set to spur demand.
Incorporation of waterproofing solutions has become a crucial aspect of ensuring durable, safe, and aesthetically pleasing constructions. Combination of urbanization, extreme weather events, rapid construction, sustainability concerns, and changing preferences has created a perfect storm. It is expected to lead to rising demand for waterproofing chemicals in the dynamic Asia Pacific market.
| Attributes | Key Insights |
|---|---|
| Asia Pacific Waterproofing Chemicals Market Size (2022A) | USD 450.5 million |
| Estimated Market Size (2023E) | USD 491.1 million |
| Projected Market Valuation (2033F) | USD 1,223.1 million |
| Value-based CAGR (2023 to 2033) | 9.6% |
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Asia Pacific waterproofing chemicals market witnessed a CAGR of 5.5% over the historical period from 2018 to 2022. In the forecast period between 2023 and 2033, the market is expected to surge at a CAGR of 9.6%.
One key driver behind this growth is increasing awareness and emphasis on disaster resilience. As Asia Pacific countries face a higher frequency of natural disasters such as floods and typhoons, there is a growing recognition of the importance of waterproofing solutions. They might help to protect infrastructures, buildings, and homes from water-related damages.
Another factor contributing to rising sales is the expanding infrastructure and construction sector. Numerous countries in the region are experiencing rapid urbanization and economic development, leading to surging construction projects.
Waterproofing chemicals are being widely adopted in these projects to ensure the longevity and durability of structures. They might also help in reducing the need for frequent repairs and maintenance, thereby attracting more sales in the market.
Shift toward sustainable and eco-friendly practices is also influencing demand for waterproofing chemicals. As governments and sectors in Asia Pacific increasingly prioritize environmental concerns, there is a greater inclination toward using green building materials. Waterproofing chemicals that offer environmentally conscious formulations and contribute to sustainable construction practices are gaining traction, further boosting their sales.
Increasing disposable incomes and growing middle class in various countries are leading to a rising demand for improved housing and infrastructure. Consumers are seeking higher quality and long-lasting properties.
Waterproofing solutions would play a crucial role in meeting these expectations. As people become more conscious of protecting their investments, demand for waterproofing chemicals is set to continue its upward trajectory in Asia Pacific.
Growing Investments in the Construction Sector
Massive investment in the construction sector in emerging countries such as Thailand and Vietnam is a significant driver for waterproofing chemical demand. With robust economic growth, rapid urbanization, and population expansion, the construction sector is witnessing a surge in infrastructure projects and building construction.
With rising investments pouring into the construction sector, both from governments and private investors, there is a heightened focus on utilizing high-quality waterproofing solutions. They might help to enhance the longevity and performance of these investments.
It has led to an increased demand for waterproofing chemicals and solutions that can effectively address specific waterproofing requirements of diverse construction projects. Developments in infrastructure such as Lotte Eco Smart City, Van Thien-Ben En Road, Mentarang River Hydroelectric Power Plant, and residential buildings are anticipated to drive demand.
Research and Development Activities to Create Innovative Products
With rapid urbanization, infrastructure development, and increasing awareness of the importance of waterproofing, manufacturers & researchers have been actively working to develop advanced solutions. One key area of innovation is the development of advanced polymer-based waterproofing materials.
Manufacturers are leveraging cutting-edge polymer technologies to create waterproofing chemicals. These exhibit excellent water resistance, flexibility, and durability. Technological advancements have led to the introduction of innovative application methods and systems.
Manufacturers are also incorporating advanced application techniques such as spray-applied membranes, pre-applied membranes, and self-adhesive membranes. These methods would provide faster and more efficient installation, ensuring reliable and long-lasting waterproofing solutions.
Ongoing advancements might offer superior performance, sustainability, and customized solutions to cater to the region's growing construction sector. At the same time, it might push demand for durable and effective waterproofing solutions.
Flourishing Nanotechnology Space to Open Up New Growth Avenues
Asia Pacific waterproofing chemicals market has experienced a significant transformation with the advent of nanotechnology. Increasing investments and research & development efforts in nanotechnology have led to the discovery of numerous nanotechnology-based chemicals. This is expected to present lucrative growth opportunities for market participants.
One notable example is the development of ceramic coatings for waterproofing. These coatings form a water- and oil-repellent surface layer that effectively repels water, oil, dirt, and dry particles. Superhydrophobic coatings, inspired by naturally occurring hydrophobic surfaces such as lotus leaves and insect wings, are particularly useful for dry surface applications.
Eco-friendly nano-coatings provide long-term waterproofing capabilities. They also offer additional benefits such as anti-corrosion, anti-icing, resistance from UV rays, high-temperature resistance, and resistance to chemical combinations.
New coatings possess self-cleaning properties when exposed to rain, and can be applied on various surfaces. Advancements in nanotechnology-based waterproofing chemicals might open up numerous possibilities for achieving sustainable waterproofing solutions in diverse applications.
Waterproofing Products to be in High Demand by Property Owners in Malaysia
Malaysia waterproofing chemicals market is likely to expand at a CAGR of 9.2% during the forecast period from 2023 to 2033. One prominent driver is Malaysia's tropical climate, characterized by high humidity and heavy rainfall throughout the year.
With such weather conditions, the need for effective waterproofing solutions becomes paramount to protect buildings from water damage, mold growth, and structural deterioration.
As Malaysia continues to witness rapid urbanization and construction activities, there is a growing awareness about the importance of integrating waterproofing technologies into their projects. These might help to ensure long-lasting and resilient structures.
Malaysia's focus on sustainable and eco-friendly practices has also contributed to increased demand for waterproofing chemicals. The government, along with various sectors, has been increasingly emphasizing green building initiatives and eco-conscious construction methods.
Waterproofing chemical manufacturers are hence developing and promoting environmentally friendly products that align with these sustainability objectives. Rising interest in green buildings might also fuel adoption of waterproofing solutions. They would not only offer effective protection against water intrusion but also align with Malaysia's commitment to environmentally responsible development.
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Concrete Waterproofing Membranes to Witness Skyrocketing Demand in Asia Pacific
By technology type, the membrane type segment is set to surge at a CAGR of 9.7% during the forecast period. Bitumen and PVC are two membrane types that are widely used for waterproofing applications.
Bitumen membranes are commonly used for waterproofing roofs and foundations. These membranes can be torch-applied, self-adhesive, or hot-mopped.
PVC membranes are made of polyvinyl chloride, a synthetic material. These membranes are known for their flexibility, durability, and chemical resistance.
They are commonly used in waterproofing applications for flat or low-slope roofs, balconies, and decks. PVC membranes can be mechanically fastened, adhered, or heat-welded for installation. Continuous growth of the construction sector, coupled with rising need for high-performance waterproofing chemicals would help to boost demand.
Infrastructure Sector to Look for Advanced Waterproofing Compounds by 2033
Waterproofing chemicals are widely used in the infrastructure sector. They play a vital role ensuring the safety, long life, and durability of structures. From small projects to bigger ones, these chemicals are extensively used to prevent structures from water leakage and damages, as well as prevent pricy repairing costs.
In Asia Pacific, ongoing construction and infrastructural developments are expected to push demand for high-performance chemicals. These can enhance the life of buildings and performance over a long period.
These chemicals are mainly employed in roofing, basements & foundations, bridges & tunnels, roads, highways, and underground structures. Application of these chemicals is crucial to prevent the structures from damages such as leaking, cracking, and creating a watertight barrier. Increasing infrastructural developments are anticipated to fuel demand for these chemicals.
Waterproofing chemical manufacturers in Asia Pacific are investing in research & development to create new and improved waterproofing chemical products. This includes developing formulations that are more effective, environmentally friendly, and cater to specific needs of different sectors and applications.
To meet varied demands of the market, manufacturers are expanding their product portfolios to offer a wide range of waterproofing solutions. They are catering to different construction types, materials, and environmental conditions to serve a diverse customer base.
A few other key players are segmenting their target markets based on various factors such as geography, industry type, and customer needs. By understanding unique requirements of different segments, they can tailor their marketing and product offerings accordingly.
For instance:
In May 2021, Saint-Gobain inaugurated a state-of-the-art waterproofing chemicals facility in Malaysia, occupying a vast 50,000m2 area. This plant showcases Saint-Gobain's cutting-edge technologies and manufacturing methods.
It demonstrated remarkable flexibility by producing a wide array of waterproofing and waterproofing chemicals solutions. Additionally, the facility focuses on developing 3D printing solutions, contributing to the company's pioneering role in this emerging market segment.
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 491.1 million |
| Projected Market Valuation (2033) | USD 1,223.1 million |
| Value-based CAGR (2023 to 2033) | 9.6% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Industry Analysis | Value (USD million) and Volume (tons) |
| Key Countries Covered | Thailand, Malaysia, Vietnam, Indonesia, and Guatemala |
| Key Segments Covered | Technology Type, Sales Channel, End User, and Country |
| Key Companies Profiled | BASF SE; Mapei S.p.A.; Wacker Chemie AG; Akzo Nobel N.V.; Evonik Industries; Sika AG; H.B. Fuller; Pidilite Industries Limited; Jiahua Chemicals Inc.; RPM International Inc.; CLPI (Thailand) Co., Ltd.; Clevcon (Thailand) Co., Ltd.; Kuraray; Dribond Construction Chemicals; Carlisle Coatings & Waterproofing (Thailand) Co., Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities, Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Increasing infrastructure development, public works initiatives, and growing awareness of sustainable and environmentally friendly construction practices.
The market is valued at USD 491.1 million in 2023.
The market is forecast to register a CAGR of 9.6% through 2033.
The market crossed the benchmark of USD 450.5 million in 2022.
Reluctance to invest in preventive measures and lack of strict enforcement of building codes limits market growth.
| Estimated Industry Size (2024E) | USD 4,350.8 million |
|---|---|
| Projected Industry Value (2034F) | USD 15,287.7 million |
| Value-based CAGR (2024 to 2034) | 13.4% |
| Market Size (2023) | USD 3.9 billion |
|---|---|
| Market Size (2033) | USD 5.8 billion |
| Market CAGR (2023 to 2033) | 4.1% |
| Anticipated Market Value (2022) | USD 2.5 Billion |
|---|---|
| Projected Forecast Value (2032) | USD 4 Billion |
| CAGR (2022 to 2032) | 5% |
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Asia Pacific Waterproofing Chemicals Market
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