Surging Demand for Waterproofing Systems: Southeast Asia Market Analysis
Waterproofing systems are materials and methods that are used to keep water out of a structure or area. They are used to prevent water infiltration and damage caused by water, such as mold, mildew, and rot, in buildings and other structures. Waterproofing systems are intended to keep water out of the interior of a structure while also protecting its structural integrity. The ability of waterproofing systems to protect structures from water damage is driving up demand for them. People are more likely to invest in waterproofing solutions as they become more aware of the potential damage that water can cause. Furthermore, waterproofing systems are becoming more popular due to their effectiveness in lowering the cost of water damage repairs and maintenance.
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Southeast Asia Waterproofing Systems Market- Key Takeaways
- Increasing Demand for Improved Waterproofing Systems: Over the forecast period, the growing demand for improved waterproofing systems in Southeast Asia is expected to drive market growth. The region's demand for waterproofing systems is expected to rise because of increased government initiatives to promote green building and energy-efficient products.
- Increasing Construction Activities: The region's increasing construction activities are expected to boost demand for waterproofing systems. The region's demand for waterproofing systems is expected to rise as investments in infrastructure and commercial projects increase.
- Growing Awareness of Waterproofing Solutions: Over the forecast period, the region's growing awareness of waterproofing solutions is expected to drive market growth. The region's demand for waterproofing systems is expected to rise because of increased government initiatives to promote green building and energy-efficient products.
- Rapid Urbanization: Over the forecast period, rapid urbanization in the region is expected to drive market growth. The region's demand for waterproofing systems is expected to rise as the government invests more in infrastructure and commercial projects.
Bitumen: The largest type segment for waterproofing chemicals
Bitumen-based waterproofing chemicals are the most common type of waterproofing chemicals. Bitumen-based waterproofing chemicals are a blend of bitumen, polymers, and additives that are used in a variety of applications such as roofing, foundations, basements, decks, and walls. Bitumen-based waterproofing chemicals are well-known for their superior performance and durability, and they are frequently used in areas where other waterproofing solutions may be ineffective. They are also highly resistant to water, chemicals, and abrasion, making them suitable for a variety of applications.
TPO: Fastest-growing market for preformed membranes
TPO membranes provide high flexibility, cost-effectiveness, energy efficiency, durability, UV light, ozone, and chemical resistance, low labour requirement, high strength, and environmental sustainability. These advantages make it preferable to other single-ply roofing membranes. As a result, it is the fastest-growing segment in Southeast Asia among other membranes. These membranes are gaining popularity due to their superior performance and ease of installation.
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Vietnam: The largest market for waterproofing in Southeast Asia
Vietnam is Southeast Asia's largest market for waterproofing products, accounting for more than 25% of the total market share. This is largely due to the country's expanding infrastructure, which has increased demand for waterproofing products across a variety of industries. In Vietnam, the construction, industrial, and marine sectors are the largest consumers of waterproofing products. In addition, the country has favourable conditions for waterproofing products, such as high humidity, a tropical climate, and a high prevalence of flooding. The rapid population growth and rising demand for housing, major infrastructure projects, and public facilities have also boosted the Vietnamese waterproofing market.
Carlisle Companies Inc. (U.S.), Soprema Group (France), The Dow Chemical Company (U.S.), W.R. Grace & Co (U.S.), BASF SE (Germany), Johns Manville (U.S.), Pidilite Industries (India), Fosroc International Ltd. (U.K.), Mapei S.p.A (Italy), Firestone Building Products (U.S.), SIKA AG (Switzerland),), GSE Environmental (U.S.), and GAF Material Corporation (U.S.) are the key players of the Southeast Asia waterproofing market.
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