ASEAN Waterproofing Membrane Market Growth Analysis | 2024-2030

Market Insights

The ASEAN waterproofing membrane market was valued at USD 778 million in 2024 and is likely to grow at a strong CAGR of 6.3% during 2024-2030 to reach USD 1,056 million in 2030.

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Market Dynamics

Introduction

A protective layer known as a waterproofing membrane serves to block water from entering surfaces and causing damage. The construction industry uses this material to protect roofs and basements as well as tunnels and bathrooms. The market provides two primary waterproofing membrane options, including sheet membranes sold as pre-formed rolls and liquid-applied membranes that form a seamless barrier following curing. The construction industry relies on modified bitumen and polyurethane and acrylic materials for waterproofing membranes because these materials provide durability and flexibility with environmental resistance properties.

Recent Market JVs and Acquisitions:

A considerable number of strategic alliances, including M&As, JVs, etc., have been performed over the past few years:

• In 2024, Saint-Gobain enhanced its regional footprint by acquiring Fosroc in the Middle East and Asia Pacific, reinforcing its market position and expanding its product offerings in construction chemicals.
• In 2023, Sika bolstered its portfolio with the acquisition of MBCC, strengthening its competitive edge and broadening its solutions in construction and waterproofing technologies.
• In 2022, Saint-Gobain and PT Avia Avian Tbk (Avian Brands) launched PRO-X 207, strengthening their presence in Indonesia’s construction sector by expanding their product portfolio and delivering advanced waterproofing solutions to meet growing market demand.

Segments' Analysis

By Membrane Type

“Sheet membrane is expected to remain dominant, whereas liquid-applied membrane will be the faster-growing membrane type of the market.”

The ASEAN waterproofing membrane market is segmented into sheet membrane and liquid-applied membrane. Sheet membranes will continue to dominate the market throughout the forecast period due to their superior durability, making them the preferred choice for large-scale commercial and infrastructure projects. Meanwhile, liquid-applied membranes are experiencing faster growth, driven by adaptability to complex structures. The market is becoming more efficient as both segments align with evolving sustainability standards and adopt cool roofing technologies.

By Product Type

“Bitumen is expected to remain dominant in the sheet membrane, whereas acrylic will be the fastest-growing product type in the liquid-applied membrane market during the forecast period.”

The ASEAN waterproofing membrane market is segmented into bitumen, PVC, TPO, acrylic, polyurea, polyurethane, and other product types. Driven by cost efficiency, bitumen remains the dominant choice for sheet membranes in ASEAN’s waterproofing market. Meanwhile, acrylic liquid-applied membranes are gaining traction and are expected to capture a significant share as industry adoption increases.

By Application Type

“Roofing is expected to hold its major share in the application type of the market.”

The market is segmented into roofing, foundation & below grade, water-retaining structures, infrastructure, and other application types. Driven by rising residential and construction spending, the roofing segment will remain ASEAN’s leading and fastest-growing application through 2030. Increasing adoption of cool roofs, driven by global warming concerns and energy efficiency benefits, further accelerates market expansion.

By End-Use Type

“The residential category is expected to remain the dominant and fastest-growing end-use type of the market during the forecast period.”

The market is segmented into Residential, Non-residential, and Infrastructure segments. The residential category will continue to dominate and grow the fastest in ASEAN, driven by rising construction activity, housing demand, and home improvements. The commercial segment remains a key driver, supported by infrastructure growth and increasing demand for cool roofs and reflective surfaces for energy efficiency.

By Construction Type

“New construction with urbanization and infrastructure development is expected to hold the major share, whereas renovation is the faster-growing construction type of the market, outpacing new construction.”

The market is segmented into new construction and renovation. New Construction emerges as the main growth engine for the market because of expanding urban development alongside infrastructure projects. The renovation section will continue to achieve steady demand while aging infrastructure projects combined with growing sustainable building practices support this growth. Focus on urbanization and infrastructure development remains the key driver for ASEAN countries which is expected to drive the market growth.

Country Insights

“Indonesia is expected to remain the most valuable market during the forecast year.”

Indonesia is expected to lead the ASEAN waterproofing membrane market in value and growth, outpacing other countries’ markets. This expansion is driven by rising investments in new residential and non-residential construction projects, supported by rapid urbanization, infrastructure development, and increasing demand for durable and energy-efficient building solutions.

Key Players

The market is highly fragmented, with over 50 players. Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. The following are the key players in the Waterproofing Membrane. Some of the major players provide a complete range of services, including products.

Here is the list of the Top Players (Alphabetically arranged)

• BASF SE
• Bostik
• KCC Corporation
• Keshun Waterproof Technology Co., Ltd.
• Mapei S.p.A.
• Oriental Yuhong Waterproofing Technology
• PT Avia Avian Tbk
• Saint-Gobain
• Sika AG
• Soprema Group
• Standard Industries

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s ASEAN waterproofing membrane market realities and future market possibilities for the forecast period of 2024 to 2030. After a continuous interest in our ASEAN waterproofing membrane market report from the industry stakeholders, we have tried to further accentuate our research scope to the ASEAN waterproofing membrane market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The ASEAN waterproofing membrane market is segmented into the following categories. 

By Product Type

• Bitumen
• PVC
• TPO
• Acrylic
• Polyurea
• Polyurethane
• Other Product Types

By Application Type

• Roofing
• Foundation & Below grade
• Water-retaining structures
• Infrastructure
• Other Application Types

By End-Use Type

• Residential
• Non-residential
• Infrastructure

By Construction Type

• New Construction
• Renovation

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com