Press Release Description

Vietnam Waterproofing Chemicals Market to Grow at a Steady CAGR of Around 4.12% During 2024-30

The Vietnam Waterproofing Chemicals Market is anticipated to grow at a CAGR of about 4.12% during the forecast period of 2024–30, cites MarkNtel Advisors in the recent research report. The Vietnam Waterproofing Chemicals Market is undergoing significant growth, fueled by several factors, including infrastructure development initiatives, expansion within the construction sector, and the thriving water and wastewater treatment industry. With the nation's continued economic advancement, the demand for waterproofing chemicals is anticipated to persist and expand across diverse sectors in the foreseeable future.

Moreover, Vietnam is undergoing rapid urbanization and industrialization, resulting in heightened construction activities and infrastructure development projects. Consequently, the need for waterproofing chemicals becomes indispensable in safeguarding buildings, bridges, roads, and other structures against water damage, thereby stimulating demand within infrastructural development projects, which is projected to propel the market size in the forecast period.

Vietnam Waterproofing Chemicals Market

Furthermore, the enactment of a new Public-Private Partnership (PPP) Law in 2021 aims to bolster and oversee private investments, particularly within the transportation, power grid, and power plant sectors, in the coming years. Consequently, the execution of PPP projects in these sectors is poised to stimulate growth within the construction industry. With the escalation of construction activities, there is expected to be an increased requirement for waterproofing chemicals to safeguard buildings, bridges, tunnels, and other structures, along with the provision of efficient drainage solutions. This is anticipated to drive market expansion in the forthcoming years, further states the research report, “Vietnam Waterproofing Chemicals Market Analysis, 2024.”

Segmentation Analysis

Bitumen Segment to Hold a Major Market Share

Based on the product type, the market is further bifurcated into bitumen, polymers, and others (cementitious, acrylics, etc.). Among them, the bitumen segment is expected to hold a significant share of the market in the forthcoming period. Bituminous coating, also known as asphalt coating, is valued for its strength, waterproofing capabilities, durability, and cost-effectiveness. Its resistance to harsh chemicals, water, and UV light adds to its appeal, driving increased demand. As a result, the bitumen segment is expected to maintain its leading position and demonstrate the most significant growth rate throughout the forecast period.

Additionally, UV resistance is a critical attribute of bitumen-based waterproofing products, particularly in tropical climates like Vietnam, where exposure to sunlight is extensive. Bituminous coatings containing UV stabilizers effectively shield surfaces from UV degradation, thereby prolonging their lifespan and preserving their waterproofing performance over time. This factor is anticipated to further bolster market growth in the coming years.

Roofing & Walls Segment Leads the Market

During the historical years, the Roofing & Walls segment experienced significant growth, a trend expected to continue as it is poised to capture the largest market share in the coming years. The extensive use of waterproofing chemicals on roofs and walls plays a critical role in preventing water leakage from rainfall and contamination, thus mitigating potential damage. This dominance of the roofing and wall segment highlights the widespread application of waterproofing chemicals in addressing these concerns across the country.

Furthermore, Vietnam's robust economic growth has led to the expansion of the middle class, resulting in increased purchasing power. This has spurred a growing demand for high-quality housing options, leading to a surge in the supply of mid-range and premium apartments. Consequently, roofs and walls are crucial components of residential buildings, and the construction of mid-range and premium apartments necessitates robust waterproofing solutions to ensure long-term structural integrity and protection against water damage. This trend is anticipated to drive the Vietnam Waterproofing Chemicals Market in the forthcoming years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Sika Vietnam, BASF Vietnam Co. Ltd., Drymas Vietnam Co., Ltd., Henkel Adhesive Technologies Vietnam Co., Ltd., Schomburg Vietnam Co., Ltd., Nohara International Pte Ltd., Penetron Vietnam Co. Ltd., The Dow Chemical Company, Soprema Group, H.B. Fuller International Inc., and others, are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the country?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping up across the country?
  6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-2030?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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