Vietnam Waterproofing Chemicals Market to Grow with a CAGR of 3.68% through 2029
Rapid Urbanization and Infrastructure Development and Government Initiatives and Infrastructure Investments are expected to drive the Vietnam Waterproofing Chemicals Market growth in the forecast period, 2025-2029
According to TechSci Research report, “Vietnam Waterproofing
Chemicals Market– By Region, Competition, Forecast and Opportunities,
2019-2029F”, the Vietnam Waterproofing Chemicals Market stood at USD 83.24
million in 2023 and is anticipated to grow with a CAGR of 3.68% through 2029. The Vietnam government's initiatives regarding waterproofing chemicals have created favorable market conditions, contributing to the growth of various products in the waterproofing chemicals market.
In June 2022, the Vietnam government approved a comprehensive long-term strategy focusing on environmental protection. This strategy underscores the importance of adopting environmentally friendly products, particularly in construction, with an emphasis on eco-friendly waterproofing chemicals. This initiative is expected to drive significant demand for eco-friendly waterproofing chemicals, addressing both immediate waterproofing needs and advancing the country's sustainability goals.
Also, the government's proactive policies to support the construction sector have spurred rapid industry expansion. As Vietnam's construction industry grows, there is a heightened demand for high-quality waterproofing chemicals. These policies, aimed at streamlining regulations and creating a conducive environment for construction firms, have not only stimulated sector growth but also catalyzed remarkable expansion in the waterproofing chemicals market.
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The recent increase in research and development (R&D) activities in Vietnam has profoundly impacted the waterproofing chemicals market. This surge has not only sped up the development of innovative products but has also broadened the range of options for consumers. Consequently, consumers now have access to a wider selection of high-quality waterproofing solutions, tailored to their specific requirements. With this expanded variety and improved availability, both individuals and businesses can find the ideal waterproofing solution to effectively protect their structures and assets.
Continuous advancements in waterproofing technologies and product innovations are driving market growth by offering more effective, durable, and environmentally friendly solutions. Manufacturers are developing new formulations, additives, and application techniques to improve the performance and efficiency of waterproofing chemicals, aligning with evolving customer needs and market trends. Additionally, the enforcement of building codes and regulations regarding waterproofing and structural integrity contributes to market expansion by requiring the use of approved waterproofing products and practices. Compliance with regulatory standards mandates the adoption of reliable and high-quality waterproofing chemicals, thereby increasing market demand.
The Vietnam
Waterproofing Chemicals Market is segmented in chemistry, technology,
application, end use, regional distribution, and company.
Based on application, the roofing & Wall segment held the
largest share in the market. The Roofing & Wall segment holds a pivotal role in shielding buildings from environmental factors like rain, moisture, UV radiation, and temperature fluctuations. Serving as the primary defense against weather-related damage and water intrusion, effective waterproofing is indispensable for upholding the structural integrity and durability of roofs and walls.
Roofs and walls are particularly prone to water damage due to their exposure to rainwater, humidity, and moisture infiltration. Such water ingress can lead to various issues such as mold growth, structural decay, corrosion, and interior harm. Hence, robust waterproofing measures are indispensable to prevent such damage and ensure the longevity of buildings. Waterproofing chemicals find extensive application across diverse construction projects encompassing residential, commercial, industrial, and infrastructure developments. Whether it involves new construction or renovation, the waterproofing of roofs and walls stands as a foundational aspect of building design and construction practices spanning multiple sectors.
As awareness grows regarding the significance of building quality and longevity, there is an escalating demand for high-performance waterproofing solutions within the Roofing & Wall segment. Developers, contractors, and building proprietors are actively seeking advanced waterproofing chemicals that offer heightened protection, durability, and enduring performance to safeguard their investments. Regulatory mandates and building codes frequently stipulate the utilization of approved waterproofing products and practices in roofing and wall construction. Adhering to these regulations necessitates the adoption of dependable and top-quality waterproofing chemicals, further amplifying the dominance of the Roofing & Wall segment in the market.
Based on region, southern segment is expected to grow
during the forecast period.
In the southern region of Vietnam, the waterproofing chemicals market is marked by fierce competition, with both local and international players vying for a significant market share. This competitive landscape drives companies to continuously improve their product offerings and service quality, resulting in the availability of top-tier waterproofing chemicals. Furthermore, this healthy competition helps maintain competitive pricing, making high-quality chemicals accessible to a broader consumer base. Consequently, individuals and businesses can take advantage of the diverse range of options and cost-effective solutions offered in the market.
Major companies operating in Vietnam Waterproofing
Chemicals Market are:
- KOVA
Group
- AkzoNobel
NV
- NIPSEA
GROUP
- Sika
Limited (Vietnam)
- Jotun
Paints (Vietnam) Co. Ltd.
- TOA
Paint Vietnam.
- Henkel
Adhesive Technologies Vietnam Co., Ltd
- Mapei
Vietnam Ltd
- BASF
SE
- Euro Paint Vietnam Co., Ltd
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“Growing application of waterproofing chemicals in
various end user industries are key drivers of the waterproofing chemicals
market. Growth in competitive landscape and presence of well-established companies
in the market who are dedicated to enhance their productivity of waterproofing chemicals
with every passing year are anticipated to register an impressive growth to
Vietnam Waterproofing Chemicals Market in the forecast period”, said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based management
consulting firm.
“Vietnam Waterproofing Chemicals Market By Chemistry (Bitumen, Elastomers, Polyvinyl Chloride, Thermoplastic Polyolefin, Ethylene Propylene Diene Terpolymer, Others), By Technology (Integral Systems, Preformed Membranes, Liquid Applied Membrane Systems (Mixed already, Elastomeric membranes (Acrylics, PUs, PMMA – fast curing, solvent-free and can be applied at low temperatures), Bituminous Membranes), Others (Cementitious Membranes, Performed Membranes, Tiling and Adhesives, Sealants)), By Application (Roofing & Wall, Floor & Basement, Water & Waste Management, Tunnel & Landfills, Bridge & Highways, Others), By End Use (Commercial, Residential, Industrial), By Region, Competition, Forecast and Opportunities, 2019-2029F”, has evaluated
the future growth potential of Vietnam Waterproofing Chemicals Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Vietnam Waterproofing Chemicals Market.
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