Asia Pacific Waterproofing Chemicals Market to Surpass US$ 1,223.1 million by 2033 as Demand for Hotels and Resorts Surges in Coastal Areas

Waterproofing chemicals are vital solutions for safeguarding structures from water damage. These specialized compounds, when applied to surfaces like roofs, walls, and foundations, create impermeable barriers that prevent water intrusion. Offering protection against leaks, dampness, and corrosion, waterproofing chemicals play a pivotal role in extending the lifespan of buildings and infrastructure, ensuring their durability and integrity even in challenging environments.

In 2018, Asia Pacific waterproofing chemicals market had a value of US$ 363.1 million. By the end of 2033, the market is anticipated to reach US$ 1,223.1 million, reflecting a 9.6% CAGR between 2023 and 2033. In 2023, it's expected to surpass a valuation of about US$ 491.1 million.

Waterproofing chemicals are widely used in the construction sector. They play a vital role in preventing the structures from water damage.

The construction sector is expanding rapidly due to rising infrastructure development and urbanization. This increasing demand for waterproofing chemicals reflects the importance of these chemicals in protecting structures from water damage.

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Waterproofing chemicals are essential in the building sector as they protect structures from water damage and ensure their lifetime & durability. Infrastructure expansion, urbanization, and real estate projects are driving considerable growth in the construction sectors. As builders and contractors prioritize the implementation of effective waterproofing solutions, demand for waterproofing chemicals would expand.

There is a growing emphasis on sustainable construction practices, including the use of eco-friendly materials and energy-efficient building systems. This trend has influenced demand for sustainable waterproofing chemicals that are non-toxic. A few chemicals that are low in volatile organic compounds (VOCs) and have minimal environmental impact are also expected to witness high demand.

Growing tourism sector in Asia Pacific might present significant opportunities for the waterproofing chemicals market. Several countries in the region such as Thailand, Malaysia, Indonesia, Vietnam, and the Philippines are popular tourist destinations, attracting millions of visitors each year.

Surging tourism might push the construction and expansion of hotels, resorts, theme parks, and other hospitality establishments. It is likely to help in creating a rising demand for effective waterproofing solutions.

Waterproofing chemicals that offer enhanced protection against harsh environmental factors can find a strong demand in coastal developments in the tourism sector. Meeting unique requirements of the tourism sector and delivering reliable waterproofing solutions might drive growth and establish a strong presence in this market.

Key Takeaways from Asia Pacific Waterproofing Chemicals Market Study:

- Asia Pacific waterproofing chemicals industry witnessed a CAGR of 5% over the historical period from 2018 to 2022.
- Malaysia waterproofing chemicals industry is likely to expand at a CAGR of 2% during the forecast period from 2023 to 2033.
- By technology type, the membrane type segment is set to surge at a CAGR of 7% during the forecast period.
- Thailand waterproofing chemicals industry is set to exhibit a CAGR of 6% through 2033.
- Vietnam waterproofing chemicals industry is estimated to witness a CAGR of 2% during the evaluation period.

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"Growing awareness and attention on catastrophe resilience are two leading factors contributing to market expansion. Waterproofing solutions are becoming increasingly important as Asia Pacific nations experience more frequent natural disasters such as floods and typhoons. They could aid in preventing water-related harm to infrastructure, buildings, and residences." -  Future Market Insights (FMI).

Competitive Landscape

Manufacturers of waterproofing chemicals in Asia Pacific are investing in research & development to produce new and improved waterproofing chemical products. This involves creating formulations that are more useful, environmentally friendly, and meet unique requirements of various sectors.

Manufacturers are also diversifying their product lines to provide a wide range of waterproofing solutions in order to satisfy the market's various expectations. To service a wide range of customers, they are accommodating numerous construction kinds, materials, and climatic circumstances.

Several other significant businesses divide their target areas depending on a variety of criteria, including location, market, and client demands. They can adjust their marketing and product offers by comprehending the distinctive needs of various sectors.

For instance,

- Saint-Gobain opened a cutting-edge waterproofing chemicals facility in Malaysia in May 2021, occupying a sizable 50,000m2 space. Modern Saint-Gobain manufacturing techniques are on display at this facility. It produced a variety of waterproofing and waterproofing chemical solutions, demonstrating extraordinary versatility. The facility also concentrates on creating 3D printing solutions, which helps the business take lead in this newly expanding market niche.

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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.