[email protected] +44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ |

Vietnam Waterproofing Chemicals Market By Chemistry (Bitumen, Elastomers, Polyvinyl Chloride, Thermoplastic Polyolefin, Ethylene Propylene Diene Terpolymer, Others), By Technology (Integral Systems, Preformed Membranes, Liquid Applied Membrane Systems (Mixed already, Elastomeric membranes (Acrylics, PUs, PMMA – fast curing, solvent-free and can be applied at low temperatures), Bituminous Membranes), Others (Cementitious Membranes, Performed Membranes, Tiling and Adhesives, Sealants)), By Application (Roofing & Wall, Floor & Basement, Water & Waste Management, Tunnel & Landfills, Bridge & Highways, Others), By End Use (Commercial, Residential, Industrial), By Region, Competition, Forecast and Opportunities, 2019-2029F

June 2024 | 78 pages | ID: V3D5BD2E5019EN
TechSci Research

US$ 3,500.00

E-mail Delivery (PDF)

Download PDF Leaflet

Accepted cards
Wire Transfer
Checkout Later
Need Help? Ask a Question
Vietnam Waterproofing Chemicals Market was valued at USD 83.24 million in 2023 and is anticipated t%li%project robust growth in the forecast period with a CAGR of 3.68% through 2029. Waterproofing chemicals play a vital role in safeguarding construction and infrastructure projects against water intrusion, which can cause significant structural damage over time. They are utilized across various areas such as roofs, walls, basements, tunnels, and other water-exposed structures t%li%ensure their durability and resilience.

The rapid pace of urbanization and industrialization in Vietnam stands as a key driver for the waterproofing chemicals market. As cities expand and new industrial zones emerge, the demand for construction materials, including waterproofing chemicals, surges. Additionally, government investments in infrastructure development, such as roads, bridges, and public buildings, further fuel this market growth.

The increasing standard of living in Vietnam has led t%li%a boom in residential construction projects, creating additional demand for waterproofing chemicals. This trend stems from the growing aspirations for higher-quality housing and improved living standards among the populace.

Also, heightened awareness regarding the benefits of waterproofing in preserving the longevity and integrity of structures has been instrumental in driving market adoption. Effective prevention of water damage can significantly reduce long-term maintenance costs, prompting construction professionals and project owners t%li%embrace waterproofing solutions. Despite promising growth prospects, the market faces certain challenges. The high cost of waterproofing chemicals may pose limitations for projects with budget constraints. Additionally, a shortage of skilled workers proficient in the correct application of these chemicals presents a challenge. However, advancements in technology and increased investment in worker training programs are expected t%li%address and mitigate these challenges in the near future.

Key Market Drivers

Growth in Construction Industry

The growth of the construction industry in Vietnam significantly propels the expansion of the waterproofing chemicals market, owing t%li%several interconnected factors. As the construction sector in Vietnam experiences substantial growth, fueled by urbanization, infrastructure development, and an expanding economy, the demand for waterproofing solutions surges in tandem. With increased construction activities, there arises a heightened need t%li%protect structures from water ingress, which could compromise their integrity over time. Consequently, the demand for high-quality waterproofing chemicals escalates, as developers and contractors prioritize durable and long-lasting solutions t%li%safeguard their investments. The modernization of building codes and regulations in Vietnam further accentuates the importance of employing effective waterproofing measures in construction projects. With stricter compliance requirements, developers are compelled t%li%integrate advanced waterproofing technologies int%li%their building designs t%li%meet regulatory standards. This regulatory push acts as a catalyst for the adoption of waterproofing chemicals, as they offer efficient and cost-effective solutions t%li%achieve compliance while enhancing structural longevity. The increasing awareness among stakeholders about the detrimental effects of water damage on buildings fosters a proactive approach towards waterproofing. As developers become more cognizant of the long-term benefits of waterproofing in mitigating structural deterioration and reducing maintenance costs, they are inclined t%li%invest in premium waterproofing chemicals that offer superior protection against water intrusion.

Also, the emergence of innovative waterproofing formulations tailored t%li%address the specific challenges of the Vietnamese climate and construction practices contributes t%li%market growth. Manufacturers are continually developing advanced chemical solutions that are resistant t%li%humidity, temperature fluctuations, and environmental aggressors prevalent in the region. This localized approach enhances product efficacy and reliability, thereby bolstering consumer confidence and driving market expansion. The influx of foreign investments in Vietnam's construction sector, coupled with collaborations between international and domestic players, stimulates the adoption of cutting-edge waterproofing technologies. Foreign companies bring expertise, technological know-how, and best practices t%li%the market, which uplifts industry standards and fosters innovation in waterproofing solutions. This cross-pollination of ideas and resources accelerates market growth and facilitates the introduction of premium waterproofing chemicals that meet global quality benchmarks.

Surge in Technological Advancements

The surge in technological advancements plays a crucial role in propelling the growth of the Vietnam waterproofing chemicals market, reshaping the industry landscape and driving innovation across various fronts. One significant aspect is the development of advanced formulations and materials in waterproofing chemicals. Technological breakthroughs have led t%li%the creation of next-generation waterproofing compounds that offer superior performance, durability, and environmental sustainability. These innovations encompass novel polymer blends, nano-coatings, and hybrid solutions engineered t%li%address specific challenges prevalent in Vietnam's diverse climatic conditions and construction practices. Such cutting-edge formulations not only provide enhanced water resistance but als%li%exhibit properties like UV stability, flexibility, and ease of application, catering t%li%the evolving needs of developers, architects, and contractors.

Advancements in manufacturing processes and production techniques have revolutionized the efficiency and scalability of waterproofing chemical production. Automation, digitization, and smart manufacturing practices have streamlined production workflows, optimized resource utilization, and reduced lead times. This translates int%li%increased product availability, shorter project timelines, and cost efficiencies, thereby driving market penetration and competitiveness. Technological advancements have catalyzed the development of diagnostic tools, monitoring systems, and predictive analytics in the field of waterproofing. These innovations enable proactive assessment of structural vulnerabilities, early detection of water ingress, and real-time performance monitoring of waterproofing systems. By leveraging sensors, IoT devices, and data analytics platforms, stakeholders can gain valuable insights int%li%the health and integrity of buildings, facilitating timely maintenance interventions and optimizing lifecycle management strategies. This proactive approach not only enhances the reliability and effectiveness of waterproofing solutions but als%li%minimizes the risk of costly repairs and downtime, fostering greater confidence and trust among end-users.

Also, digitalization and connectivity have revolutionized communication channels and customer engagement in the waterproofing chemicals market. Online platforms, mobile applications, and virtual collaboration tools empower manufacturers, distributors, and service providers t%li%interact seamlessly with clients, deliver personalized solutions, and provide instant support throughout the project lifecycle. This digital transformation enhances customer experience, fosters transparency, and accelerates decision-making processes, driving market growth through enhanced customer satisfaction and loyalty. Advancements in research and development (R&D) have spurred collaboration between academia, industry, and government agencies t%li%explore novel materials, construction techniques, and sustainable solutions in waterproofing. This collaborative ecosystem fosters knowledge exchange, technology transfer, and capacity building, nurturing a culture of innovation and continuous improvement within the market. By investing in R&D initiatives, stakeholders can stay at the forefront of technological innovation, anticipate market trends, and capitalize on emerging opportunities, driving sustained growth and competitiveness in the Vietnam waterproofing chemicals market.

Key Market Challenges

Growing Sensitivity in Prices

The steady increase in raw material costs for waterproofing chemicals production stems from various factors, notably disruptions in the global supply chain leading t%li%limited availability and higher procurement expenses. Furthermore, rising transportation costs and fluctuations in the global commodities market contribute t%li%the overall cost uptrend.

Consequently, there's been a significant surge in the prices of waterproofing chemicals, posing a notable challenge for the Vietnam market. If these cost escalations are passed on t%li%end-users, it could potentially dampen demand. Consumers in the construction industry are increasingly price-sensitive, driven by budget constraints and a keenness t%li%cut costs wherever feasible. Even minor price hikes in waterproofing chemicals could significantly affect demand, amplifying the market's challenges.

T%li%navigate this landscape effectively, companies must adopt innovative strategies t%li%manage rising costs without substantially increasing prices. Exploring supply chain optimization, alternative sourcing, and cost-efficient production techniques are viable avenues. By proactively addressing these cost-related challenges, companies can safeguard their market standing and retain customers amidst competitive pressures.

Key Market Trends

Rising Focus on Environmentally Friendly Solutions

Vietnam's construction sector is undergoing a notable green transformation, marked by concerted efforts t%li%bolster sustainability and embrace eco-friendly building practices. This movement has spurred the development of innovative green construction chemicals, reflecting a global trend towards environmental consciousness, particularly evident in the Asia Pacific region's rising demand for eco-friendly waterproofing chemicals.

This shift towards sustainability isn't confined t%li%the construction industry; it's reshaping the waterproofing chemicals market as well. Manufacturers are actively involved in creating and promoting a diverse array of environmentally sustainable products in line with these green objectives. Consequently, the market is witnessing a significant uptick in the adoption of sustainable and eco-friendly construction chemicals, emerging as a prominent trend in Vietnam's construction chemical market.

The importance of these green waterproofing chemicals extends beyond their primary function of water infiltration prevention. They als%li%contribute t%li%pollution reduction and minimize the environmental footprint of construction activities. Engineered t%li%be low in volatile organic compounds (VOCs) and other harmful substances, these innovative solutions prioritize environmental and human health safety, ensuring a sustainable future for generations t%li%come.

Segmental Insights

Chemistry Insights

Based on the category of chemistry, the bitumen segment emerged as the dominant in the Vietnamese market for waterproofing chemicals in 2023. One of the primary reasons for bitumen's dominance in the waterproofing industry is its unique and exceptional physical properties. Bitumen exhibits high viscosity, rigidity modulus, cohesion, adhesion, and durability, making it an ideal material for various waterproofing applications. Its high viscosity ensures a strong and uniform coating, while its rigidity modulus provides structural stability and resilience. The outstanding cohesion and adhesion properties of bitumen enable it t%li%adhere firmly t%li%different surfaces, ensuring long-lasting protection against water ingress int%li%buildings and other structures.

Additionally, bitumen's effectiveness and affordability contribute t%li%its widespread use in Vietnam's waterproofing chemicals market. The cost-effectiveness of bitumen is unparalleled, offering a high-performance solution at a relatively low cost compared t%li%other waterproofing materials. This makes bitumen a preferred choice for both small-scale projects and large-scale applications, providing excellent value for money while maintaining superior waterproofing capabilities. With its unique physical properties and cost-effectiveness, bitumen continues t%li%be the go-t%li%option for waterproofing needs in Vietnam and beyond.

Technology Insights

The liquid applied membrane systems segment is projected t%li%experience rapid growth during the forecast period. One of the main advantages of liquid applied membrane systems is their ease of application. Unlike preformed membranes that need t%li%be cut and shaped t%li%fit around complex shapes and corners, liquid applied membranes can be directly applied t%li%the surface with a roller, brush, or spray. This makes them an ideal solution for areas with intricate details or irregular shapes. Additionally, the ability t%li%easily adjust the thickness of the liquid membrane allows for precise control over the level of protection provided.

Liquid applied membranes are highly versatile. They can be used on a variety of surfaces, including concrete, metal, wood, and more. This versatility makes them suitable for a wide range of applications in the construction industry, from roofing t%li%foundations t%li%basements. Moreover, liquid applied membranes offer excellent adhesion t%li%different substrates, ensuring a secure and long-lasting waterproofing solution.

Liquid applied membranes are als%li%cost-effective. They require less labor and time t%li%install compared t%li%other waterproofing systems, which can lead t%li%significant cost savings. In addition, they typically have a longer lifespan, reducing the need for frequent replacements or repairs. This not only saves money but als%li%minimizes disruptions t%li%ongoing construction projects. Furthermore, the seamless nature of liquid applied membranes eliminates the risk of water infiltration through joints or seams, enhancing their overall effectiveness in protecting structures from moisture damage.

Regional Insights

Southern emerged as the dominant region in the Vietnam Waterproofing Chemicals Market in 2023, holding the largest market share in terms of value. Southern Vietnam, particularly H%li%Chi Minh City and its surrounding areas, is currently experiencing an unprecedented construction boom. The rapid growth in the construction sector has sparked a surge in demand for high-quality construction materials, including advanced waterproofing chemicals. As towering buildings continue t%li%rise, the need for materials that ensure their longevity and safety becomes increasingly crucial. Waterproofing chemicals play a vital role in protecting these structures from water damage, maintaining their structural integrity, and enhancing their overall durability.

The industry's willingness t%li%embrace new products and technologies has resulted in a significantly higher adoption rate of various waterproofing chemicals. This culture of exploration and curiosity not only facilitates continuous improvement but als%li%drives innovation and growth within the market. It is this dynamic and forward-thinking approach that has propelled southern Vietnam's construction sector t%li%its current dominant position.

Key Market Players
  • KOVA Group
  • AkzoNobel NV
  • NIPSEA GROUP
  • Sika Limited (Vietnam)
  • Jotun Paints (Vietnam) Co. Ltd.
  • TOA Paint Vietnam.
  • Henkel Adhesive Technologies Vietnam Co., Ltd
  • Mapei Vietnam Ltd
  • BASF SE
    • Eur%li%Paint Vietnam Co., Ltd
Report Scope:

In this report, the Vietnam Waterproofing Chemicals Market has been segmented int%li%the following categories, in addition t%li%the industry trends which have als%li%been detailed below:
  • Vietnam Waterproofing Chemicals Market, By Chemistry:
  • Bitumen
  • Elastomers
  • Polyvinyl Chloride
  • Thermoplastic Polyolefin
  • Ethylene Propylene Diene Terpolymer
  • Others
  • Vietnam Waterproofing Chemicals Market, By Technology:
  • Integral Systems
  • Preformed Membranes
  • Liquid Applied Membrane Systems
  • Others
  • Vietnam Waterproofing Chemicals Market, By Application:
  • Roofing & Wall
  • Floor & Basement
  • Water & Waste Management
  • Tunnel & Landfills
  • Bridge & Highways
  • Others
  • Vietnam Waterproofing Chemicals Market, By End Use:
  • Commercial
  • Residential
  • Industrial
  • Vietnam Waterproofing Chemicals Market, By Region:
  • Northern
  • Central
  • Southern
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Vietnam Waterproofing Chemicals Market.

Available Customizations:

Vietnam Waterproofing Chemicals Market report with the given market data, Tech Sci Research offers customizations according t%li%a company's specific needs. The following customization options are available for the report:

Company Information
    • Detailed analysis and profiling of additional market players (up t%li%five).
1. PRODUCT OVERVIEW

1.1. Market Definition
1.2. Scope of the Market
  1.2.1. Markets Covered
  1.2.2. Years Considered for Study
  1.2.3. Key Market Segmentations

2. RESEARCH METHODOLOGY

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Applications
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. EXECUTIVE SUMMARY

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. IMPACT OF COVID-19 ON VIETNAM DIETARY SUPPLEMENTS MARKET

5. VOICE OF CUSTOMERS

5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Customer Satisfaction

6. VIETNAM DIETARY SUPPLEMENTS MARKET OVERVIEW

7. VIETNAM DIETARY SUPPLEMENTS MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Value & Volume
7.2. Market Share & Forecast
  7.2.1. By Chemistry (Bitumen, Elastomers, Polyvinyl Chloride, Thermoplastic Polyolefin, Ethylene Propylene Diene Terpolymer, Others)
  7.2.2. By Technology (Integral Systems, Preformed Membranes, Liquid Applied Membrane Systems, Others)
    7.2.2.1. By Liquid Applied Membrane Systems (Mixed already, Elastomeric membranes (Acrylics, PUs, PMMA – fast curing, solvent-free and can be applied at low temperatures), Bituminous Membranes)
    7.2.2.2. By Others (Cementitious Membranes, Performed Membranes, Tiling and Adhesives, Sealants)
  7.2.3. By Application (Roofing & Wall, Floor & Basement, Water & Waste Management, Tunnel & Landfills, Bridge & Highways, Others)
  7.2.4. By End Use (Commercial, Residential, Industrial)
  7.2.5. By Region
  7.2.6. By Company (2023)
7.3. Market Map (By Chemistry, By Technology, By Application, By End Use, By Region)

8. NORTHERN WATERPROOFING CHEMICALS MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Value & Volume
8.2. Market Share & Forecast
  8.2.1. By Chemistry
  8.2.2. By Technology
  8.2.3. By Application
  8.2.4. By End Use

9. CENTRAL WATERPROOFING CHEMICALS MARKET OUTLOOK

9.1. Market Size & Forecast
  9.1.1. By Value & Volume
9.2. Market Share & Forecast
  9.2.1. By Chemistry
  9.2.2. By Technology
  9.2.3. By Application
  9.2.4. By End Use

10. SOUTHERN WATERPROOFING CHEMICALS MARKET OUTLOOK

10.1. Market Size & Forecast
  10.1.1. By Value & Volume
10.2. Market Share & Forecast
  10.2.1. By Chemistry
  10.2.2. By Technology
  10.2.3. By Application
  10.2.4. By End Use

11. MARKET DYNAMICS

11.1. Drivers
11.2. Challenges

12. MARKET TRENDS & DEVELOPMENTS

12.1. Recent Developments
12.2. Product Launches
12.3. Mergers & Acquisitions

13. IMPORT-EXPORT ANALYSIS

14. PRICING ANALYSIS

15. PORTER’S FIVE FORCES ANALYSIS

16. PESTLE ANALYSIS

17. VIETNAM WATERPROOFING CHEMICALS MARKET: SWOT ANALYSIS

18. POLICY & REGULATORY LANDSCAPE

19. VIETNAM ECONOMIC PROFILE

20. COMPETITIVE LANDSCAPE

20.1. KOVA Group
  20.1.1. Business Overview
  20.1.2. Product & Service Offerings
  20.1.3. Recent Developments
  20.1.4. Key Personnel
  20.1.5. SWOT Analysis
20.2. AkzoNobel NV
20.3. NIPSEA GROUP
20.4. Sika Limited (Vietnam)
20.5. Jotun Paints (Vietnam) Co. Ltd.
20.6. TOA Paint Vietnam.
20.7. Henkel Adhesive Technologies Vietnam Co., Ltd
20.8. Mapei Vietnam Ltd
20.9. BASF SE
20.10. Euro Paint Vietnam Co., Ltd

21. STRATEGIC RECOMMENDATIONS

22. ABOUT US & DISCLAIMER



More Publications