Asia Pacific Waterproofing Chemicals Market

Asia Pacific Waterproofing Chemicals Market Market Snapshot (2022-2032)

[250 Pages Report] The market of waterproofing in the Asia Pacific region is projected to reach a valuation of US$ 11,568.5 Mn in 2032. Need for value-enriched waterproofing chemicals has grown as a result of the expanding building and construction sector in the region.

The Asia Pacific waterproofing chemicals market is expected to reach US$ 4,327.20 Mn in 2022, according to FMI, and is expected to grow at a CAGR of 8.2% from 2022 to 2032.

A specialized group of goods known as waterproofing chemicals guards the structural integrity of buildings against water infiltration. Buildings' lifespans can be shortened by excessive water penetration, which results in electrical, metal, and health problems. When used outside of a foundation system, waterproofing chemicals extend the usable life of the concrete and provide durability to infrastructure. These features reduce the expense of building maintenance. The industry's main drivers are the rising cost of construction and raw materials.

Key waterproofing chemicals includes polyurethane, elastomeric coatings, expanded polyethylene, polysulfide sealants, and acrylic polymer. These substances can be found in slurry, liquid, and solid forms. Sheet membranes and liquid-applied systems make up the next division of waterproofing chemicals. Infrastructure development for commercial, industrial, and residential uses are the end use categories.

Historic Market Outlook for Asia Pacific Waterproofing Chemical

A historical growth rate of less than 6.2% CAGR was found in the examination of the demand for waterproofing chemicals in between 2017 to 2021. The region's economy has been steadily improving, which has benefited customers' financial situations and increase demand for homes and other infrastructure projects in the nation.

Initial recessionary downturns caused by COVID-19 pandemic, such as decreased sales of waterproofing, store closings, and temporary interruptions to the industrial cycle, temporarily dashed growth expectations.

However, when infection curves began to flatten starting in 2022, industrial production activity resumed in significant markets. This leads to a CAGR of 8.5% by 2032 according to FMI's Asia Pacific Waterproofing Chemical demand prediction.

What are the Various Factors Driving the Asia Pacific Waterproofing Chemical Market?

This market is expected to witness a substantial growth in the emerging economies since construction sector is witnessing a boom in these countries. Further, as prominent market participants invests around 3% of their revenue in research and development, the market is witnessing application specific product category which is catering the growing requirement for application specific products by the key end users.

The market for aqueous coatings is expanding as a result of the desire for environmentally acceptable ingredients. Other key forces driving this industry are the growing population of China and India. Liquid-applied membranes in the waterproofing chemical market will experience a tremendous surge in developing nations due to their low cost and simpler technology.

Nikhil Kaitwade

Principal Consultant

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Which Factors May Hinder the Asia Pacific Waterproofing Chemical Market Growth?

Chemical firms should be particularly concerned about low awareness levels, a shortage of qualified labour, and uneven export rules in some of the key growing economies. Regulations for hazardous chemical is also expected to impact the market. Fluorinated substances present in the waterproofing chemicals have the potential to enter the respiratory systems and result in issues including pneumonitis and lung injuries.

Furthermore economic crisis faced by certain nations including Sri Lanka to hinder the market growth outlook. Economic slowdown facing by China is also expected to impact the market growth as the country is one of the key market for waterproofing chemicals.

What is the dominating country in the Asia-Pacific region?

The market is geographically divided into five countries including China, India, Japan, ASEAN, and Oceania. The main consumers of waterproofing chemicals in the Asia Pacific area are India and China. China and India together accounted for 52.7% of the Asia Pacific waterproofing chemicals market in 2021 among all of these nations. The Asia-Pacific market share was dominated by China. The demand for construction chemicals is anticipated to increase throughout the forecast period as a result of rising investments and construction activity in the nation.

China has surpassed the United States in terms of volume with a 26% market share. China, India, and other significant Asia-Pacific nations together account for 50% of the worldwide waterproofing market. Due to China's emphasis on infrastructure as part of its 12th Five Year Plan and the Indian government's 'Make in India' initiative, the infrastructure in the Asia Pacific region will significantly improve.

The growth of malls and skyscrapers in India has created a thriving market for construction businesses, which will cause the waterproofing chemical industry to experience significant growth in the near future. The following prospective market in the Asia-Pacific for waterproofing chemicals is Malaysia. The government of Malaysia has set aside US$23 billion to improve its infrastructure. These potential markets will provide waterproofing chemicals with constant momentum.

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Market Competition

In the Asia Pacific waterproofing chemical market, key players include Fosroc International Limited, MC-BAUCHEMIE MULLER GmbH, Akzo Nobel Chemicals AG, Arkema S.A., BASF SEBOSTIK, DowDuPont Inc., GCP Applied Technologies Inc., Henkel AG & Co., and others.

In the highly consolidated Asia Pacific market for waterproofing chemicals, a small number of key vendors own a majority of the market share. The vast majority of businesses in the waterproofing chemicals market make significant financial investments in thorough research and development, often to produce new and improved products. Product expansion and mergers and acquisitions are the main strategies used by the major competitors in the Asia Pacific Waterproofing Chemical market.

They also engage in mergers and acquisitions and collaborations while obtaining regulatory permissions.

• In order to strengthen its position in sustainable building, Swiss chemicals manufacturer Sika has agreed to purchase MBCC Group for 5.5 billion Swiss francs ($6 billion) in November 2021. This would be Sika's largest acquisition in the fragmented $70 billion construction chemicals business.
• The purchase of GRUPO THERMO TEK, a renowned provider of waterproofing systems with headquarters in Monterrey, Mexico, by BASF was finalized in September 2017. On April 24, 2017, the firms announced the deal. The Construction Chemicals division of BASF expands its portfolio of brands for industry professionals while also strengthening its marketing channels.

Scope of the Report

Key Segments Profiled in the Asia Pacific Waterproofing Chemical Report Asia Pacific Waterproofing Chemical

By Product Type, the market is segmented as:

• Bitumen
• PVC
• EPDM
• TPO
• PTFE
• Silicone

By End Use Industry, the market is segmented as:

• Construction
• Infrastructure
• Automotive
• Textile
• Other End Use Industries

By Technology, the market is segmented as:

• Membrane
• Liquid
• Cementious
• Others

By Countries, the market is segmented as:

• China
• India
• Japan
• ASEAN
• Oceania