Market Research Report

Vietnam Waterproofing Chemicals Market Research Report: Forecast (2024-2030)

Vietnam Waterproofing Chemicals Market Report - By Product Type (Bitumen, Polymers, Others (Cementitious, Acrylics, etc.)), By Technology (Performed Membrane, Coating & Liquid Memb...rane, Integral System, Others (Crystalline, flexible alpha coating, etc.)), By Application (Roofing & Walls, Building Structures, Water & Waste Management, Tunnel & Landfills, Flooring & Basement, Others (Automotive undercoating, Submerged structures, etc.)), and Others Read more

  • Chemicals
  • Apr 2024
  • 129
  • PDF, Excel, PPT

Market Definition

Waterproofing chemicals are specifically designed to prevent water penetration or moisture ingress into various substrates, surfaces, or structures. These chemicals are utilized across a wide range of applications in construction, infrastructure development, industrial facilities, residential buildings, and commercial structures to enhance durability, longevity, and structural integrity. They are applied to surfaces such as concrete, metal, wood, and roofing materials to create a protective barrier against water, moisture, humidity, and other environmental elements.

Market Insights & Analysis: Vietnam Waterproofing Chemicals Market (2024-30):

The Vietnam Waterproofing Chemicals Market size is estimated to grow at a CAGR of around 4.12% during the forecast period, i.e., 2024-30. The Vietnam Waterproofing Chemicals Market is witnessing remarkable growth, driven by factors such as infrastructure development projects, the expansion of the construction sector, and the flourishing water and wastewater treatment industry. As the country continues its economic progress, the demand for waterproofing chemicals is expected to persist and expand across various sectors in the foreseeable future.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2023-2028) 4.12%
Region Covered North, South, Central
Key Companies Profiled 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 
Unit Denominations USD Million/Billion

 

In addition, Vietnam is experiencing rapid urbanization and industrialization, leading to increased construction activities and infrastructure development projects. Infrastructure accounted for around 53% of total Official Development Assistance (ODA) received between 2012-2022. Thus, the requirement for waterproofing chemicals is essential for protecting buildings, bridges, roads, and other structures from water damage, thus driving demand in infrastructural development projects. For instance,

  • The Vietnamese government has approved a plan to allocate USD 43-65 billion for the construction and upgrading of road, rail, inland waterways, sea, and air transport infrastructure between 2021 and 2030.

Vietnam Waterproofing Chemicals Market Research Report: Forecast (2024-2030)

Additionally, a new Public Private Partnership (PPP) Law, has been enacted in 2021 to support and regulate private investment, particularly in the transportation, power grid, and power plant sectors in the upcoming years. Therefore, the implementation of PPP projects in the transportation and power sectors is expected to drive growth in the construction industry. As construction activities increase, there would be a higher demand for waterproofing chemicals to waterproof buildings, bridges, tunnels, and other structures, as well as to provide effective drainage solutions which is anticipated to propel the size & volume of the Vietnam Waterproofing Chemicals Industry during the forecast period.

Vietnam Waterproofing Chemicals Market Driver:

Increasing Government Efforts towards Wastewater Treatment – With the rising focus on wastewater treatment, the government invests in the development of wastewater treatment plants, sewage systems, and drainage infrastructure. Waterproofing chemicals are essential for protecting these facilities from water infiltration, corrosion, and degradation, ensuring their long-term durability and effectiveness. The Vietnamese government has introduced policies and regulations to promote wastewater treatment. For instance, the Prime Minister issued Directive No. 18/CT-TTg in 2020 to encourage investment in wastewater treatment and to improve wastewater treatment facilities. The government has also introduced regulations that require industries to treat their wastewater before discharging it into the environment.

Moreover, the government has been constructing several wastewater treatment plants in the country to treat sewage and industrial effluent. Along with this, rising public-private partnerships (PPPs) improve the wastewater treatment infrastructure in the country. As the government prioritizes wastewater management and pollution control measures, the Vietnam Waterproofing Chemicals Market is expected to experience sustained revenue growth and expansion in the coming years.

Vietnam Waterproofing Chemicals Market Opportunity:

Expansion of the Industrial & Commercial Sectors to Present Lucrative Opportunities – Advances in information technology have facilitated the growth of the IT & e-commerce sectors. Vietnam has seen a surge in digital services, online retail, and technology-related businesses, contributing to the overall expansion of the commercial sector. According to the General Statistics Office, the service sector saw a remarkable increase of approximately 9.99% in 2022 compared to the previous year, contributing nearly 56.65% to the overall economic growth. Hence, the growth of digital services and technology-related businesses drives demand for commercial real estate spaces, including office buildings, resulting in a rising requirement for waterproofing chemicals for waterproofing basements, foundations, roofs, and facades of these buildings to prevent water infiltration, leaks, etc.

Moreover, Vietnam is emerging as a key economic hub in Southeast Asia, drawing foreign investors due to its dynamic growth and strategic location. Statistics from the Ministry of Planning and Investment demonstrate that foreign firms invested approximately USD 18.15 billion in Vietnam in the first eight months of 2023, representing an increase of almost 8.2% compared to the same period last year. Furthermore, the Vietnamese support industry has made substantial progress, integrating into the global supply chains of major companies such as Samsung, Sanyo, and Intel. This economic momentum is generating a heightened demand for industrial spaces, particularly from enterprises in sectors such as banking, finance, FMCG, etc., in regions like Ho Chi Minh City and the Southern provinces. The newly constructed commercial spaces would considerably contribute to the demand for waterproofing chemicals during 2024–2030.

Vietnam Waterproofing Chemicals Market Challenge:

Growing Prevalence of Counterfeit & Substandard Waterproofing Products to Impede Market Growth – The widespread existence of counterfeit or inferior waterproofing products presents a notable problem for both manufacturers and consumers in Vietnam. In addition, counterfeit or substandard waterproofing products fail to meet quality standards and specifications during the construction process. Inferior materials and manufacturing processes result in products that are less effective in waterproofing applications, leading to compromised performance, increased risk of water damage, and reduced durability of structures. Hence, the proliferation of counterfeit products undermines market integrity, erodes consumer confidence, and creates distrust in the authenticity and reliability of waterproofing chemical brands. Consequently, consumers become disillusioned with the market, opting for cheaper alternatives without considering quality or safety implications. Maintaining consumer trust and brand reputation is crucial for fostering long-term relationships and loyalty in the competitive waterproofing chemicals market, which is anticipated to hamper Vietnam Waterproofing Chemicals Market growth & expansion in the forthcoming years.

Vietnam Waterproofing Chemicals Market Trend:

Sustainable Construction Solutions Gaining Traction – There is a growing emphasis on sustainable construction practices in Vietnam, including the use of eco-friendly and energy-efficient building materials. This trend extends to waterproofing chemicals, with rising demand for products that minimize environmental impact and promote sustainability, as these chemicals contain fewer petrochemicals as compared to other specialty chemicals.

In addition, sustainable waterproofing solutions incorporate recyclable and biodegradable materials that minimize waste generation and promote resource conservation. Waterproofing chemicals made from renewable resources or recycled materials contribute to a circular economy approach, aligning with Vietnam's goals for environmental stewardship and waste reduction, which is anticipated to enhance the size & growth of the market during the forecast period.

Vietnam Waterproofing Chemicals Market (2024-30): Segmentation Analysis

The Vietnam Waterproofing Chemicals study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the national level. According to the analysis, the market has been further classified as:

Based on Product Type:

  • Bitumen
    • Atactic Polypropylene Bitumen Membranes (APP)
    • Styrene-butadiene-styrene bitumen Membranes (SBS)
    • Others (Self-Adhesive Bituminous Membranes, etc.)
  • Polymers
    • Polyvinyl Chloride(PVC)
    • Thermoplastic Polyolefin
    • EPDM (Ethylene Propylene Diene Monomer)
    • Others (Polyurethane, Silicone, etc.)
  • Others (Cementitious, Acrylics, etc.)

Based on product type, Bitumen is expected to attain the highest CAGR in the Vietnam Waterproofing Chemicals Market during the forecast period. Bituminous coating, referred to as asphalt coating, boasts robustness, waterproofing properties, durability, and cost-effectiveness. Its ability to resist harsh chemicals, water, and UV light further enhances its appeal, driving up demand. Consequently, the bitumen segment is poised to maintain its leading position and is projected to exhibit the highest growth rate throughout the forecast period.

Furthermore, UV resistance is a key feature of bitumen-based waterproofing products, especially in tropical climates like Vietnam, where exposure to sunlight is extensive. Bituminous coatings with UV stabilizers effectively protect surfaces from UV degradation, prolonging their lifespan and maintaining their waterproofing integrity over time, which is expected to enhance market growth in the forthcoming years.

Based on Application:

  • Roofing & Walls
  • Building Structures
  • Water & Waste Management
  • Tunnel & Landfills
  • Flooring & Basement
  • Others (Automotive undercoating, Submerged structures, etc.)

Based on application, the Roofing & Walls segment witnessed significant growth during the historical years and is anticipated to capture the largest market share in the forthcoming years as well. The widespread use of waterproofing chemicals on roofs and walls is crucial in preventing water leakage from rainfall and contamination, averting potential damage. Hence, the dominance of the roofing and wall segment underscores the extensive application of waterproofing chemicals in addressing these concerns in the country. Moreover, the nation's strong economic growth has contributed to the growth of an expanding middle class with rising purchasing power.

With this increase in purchasing power, there is a growing demand for high-quality housing options, leading to a surge in the supply of mid-range and premium apartments. According to Jones Lang LaSalle, a global real estate services company, Ho Chi Minh City witnessed the introduction of approximately 1,123 high-end apartment units from three significant residential projects in Q2 2023. Consequently, roofs and walls are key 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, which is anticipated to propel the growth & development of the Vietnam Waterproofing Chemicals Market in the forthcoming years.

Gain a Competitive Edge with Our Vietnam Waterproofing Chemicals Market Report

  1. Vietnam Waterproofing Chemicals Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
  2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. Vietnam Waterproofing Chemicals Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Vietnam Waterproofing Chemicals Market is expected to grow at a compound annual growth rate (CAGR) of around 4.12% over the forecast period.

   A. The increasing government efforts towards wastewater treatment is a prominent factor expected to drive the Vietnam Waterproofing Chemicals Market during 2024-30.

   A. 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 the top companies in the Vietnam Waterproofing Chemicals Market.

   A. The Roofing & Walls segment held the largest share of the Vietnam Waterproofing Chemicals Market.

   A. The increasing popularity of sustainable construction solutions is one of the key trends shaping the growth of the Vietnam Waterproofing Chemicals Market.

   A. The expansion of the industrial & commercial sectors is one of the growth opportunities driving the Vietnam Waterproofing Chemicals Market.

  1. Market Segmentation
  2. Introduction
    1. Market Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Vietnam Waterproofing Chemicals Market Import-Export Analysis
  5. Vietnam Waterproofing Chemicals Market Trends & Development
  6. Vietnam Waterproofing Chemicals Market Dynamics
    1. Growth Drivers
    2. Challenges
  7. Vietnam Waterproofing Chemicals Market Hotspot & Opportunities
  8. Vietnam Waterproofing Chemicals Market Supply Chain Analysis
  9. Vietnam Waterproofing Chemicals Market Policies & Regulations
  10. Vietnam Waterproofing Chemicals Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Product Type
        1. Bitumen- Market Size & Forecast 2019-2030F, (Thousand Tons)
        2. Polymers- Market Size & Forecast 2019-2030F, (Thousand Tons)
        3. Others (Cementitious, Acrylics, etc.) - Market Size & Forecast 2019-2030F, (Thousand Tons)
      2. By Technology
        1. Performed Membrane - Market Size & Forecast 2019-2030F, (Thousand Tons)
        2. Coating & Liquid Membrane - Market Size & Forecast 2019-2030F, (Thousand Tons)
        3. Integral System - Market Size & Forecast 2019-2030F, (Thousand Tons)
        4. Others (Crystalline, flexible alpha coating, etc.) - Market Size & Forecast 2019-2030F, (Thousand Tons)
      3. By Application
        1. Roofing & Walls- Market Size & Forecast 2019-2030F, (Thousand Tons)
        2. Building Structures- Market Size & Forecast 2019-2030F, (Thousand Tons)
        3. Water & Waste Management - Market Size & Forecast 2019-2030F, (Thousand Tons)
        4. Tunnel & Landfills- Market Size & Forecast 2019-2030F, (Thousand Tons)
        5. Flooring & Basement - Market Size & Forecast 2019-2030F, (Thousand Tons)
        6. Others (Automotive undercoating, Submerged structures, etc.)- Market Size & Forecast 2019-2030F, (Thousand Tons)
      4. By Region
        1. North
        2. South
        3. Central
      5. By Competitors
        1. Competition Characteristics
        2. Market Share & Analysis
  11. Vietnam Bitumen Waterproofing Chemicals Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. By Type
      1. Atactic Polypropylene Bitumen Membranes (APP) - Market Size & Forecast 2019-2030F, (Thousand Tons)
      2. Styrene-Butadiene-Styrene Bitumen Membranes (SBS) - Market Size & Forecast 2019-2030F, (Thousand Tons)
      3. Others (Self-Adhesive Bituminous Membranes, etc.)- Market Size & Forecast 2019-2030F, (Thousand Tons)
    3. By Technology - Market Size & Forecast 2019-2030F, (Thousand Tons)
    4. By Application- Market Size & Forecast 2019-2030F, (Thousand Tons)
  12. Vietnam Polymer Waterproofing Chemicals Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. By Type
      1. Acrylic Polymer (APP) - Market Size & Forecast 2019-2030F, (Thousand Tons)
      2. EPDM (Ethylene Propylene Diene Monomer) - Market Size & Forecast 2019-2030F, (Thousand Tons)
      3. Polyvinyl Chloride(PVC) - Market Size & Forecast 2019-2030F, (Thousand Tons)
      4. Thermoplastic Polyolefin - Market Size & Forecast 2019-2030F, (Thousand Tons)
      5. Others (polyurethane, Silicone, etc.) - Market Size & Forecast 2019-2030F, (Thousand Tons)
    3. By Technology - Market Size & Forecast 2019-2030F, (Thousand Tons)
    4. By Application- Market Size & Forecast 2019-2030F, (Thousand Tons)
  13. Vietnam Waterproofing Chemicals Market Key Strategic Imperatives for Success & Growth
  14. Competition Outlook
    1. Company Profiles
      1. Sika Vietnam
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnership
        4. Recent Developments
        5. Financial Details
        6. Others
      2. BASF Vietnam Co. Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnership
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Drymas Vietnam Co., Ltd
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnership
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Henkel Adhesive Technologies Vietnam Co., Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnership
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Schomburg Vietnam Co., Ltd
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnership
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Nohara International Pte Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnership
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Penetron Vietnam Co. Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnership
        4. Recent Developments
        5. Financial Details
        6. Others
      8. The Dow Chemical Company
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnership
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Soprema Group
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnership
        4. Recent Developments
        5. Financial Details
        6. Others
      10. H.B. Fuller International Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnership
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Others
  15.  Disclaimer


Vietnam Waterproofing Chemicals Market