Malaysia Waterproofing Market Size to Grow at a CAGR of 4.90% in the Forecast Period of 2023-2028
The ‘Malaysia Waterproofing Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Malaysia waterproofing market, assessing the market on the basis of its segments like type, technology, and application.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 218.39 million
- Forecast CAGR (2023-2028): 90%
- Forecast Market Size (2028): USD 290.44 million
The expanding construction sector in Malaysia and increasing infrastructural development initiatives in the country are driving the growth of the Malaysia waterproofing market. Government initiatives towards infrastructure development are also encouraging the use of waterproofing, particularly in applications such as bridge and highways.
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A tropical country, Malaysia witnesses heavy rainfall and high humidity and temperature, leading to a greater risk of water and humidity damage to buildings and constructions. Accordingly, there is a surging demand to protect new and older constructions from water damage by implementing effective waterproofing measures which is aiding the Malaysia waterproofing market development.
Expansion of key market players in the country, for local supply and export within the ASEAN region, is also expected to provide lucrative opportunities to the waterproofing market in Malaysia. Due to the easy availability of raw materials, various market players have set up manufacturing setups in Malaysia, catering to locally growing demand for waterproofing and setting supply chains for the ASEAN region.
Demand for residential applications of waterproofing are also on the rise in Malaysia, supported by improvements in standards of living and disposable income. Waterproofing is commonly done for roofing and balconies as these structures face water directly, and any leaks can lead to damage in building interiors.
Waterproofing Industry Definition and Major Segments
Waterproofing refers to the process by which a structure or object is made water-resistant or waterproof, protecting the structure from water exposure and damage. Implementing waterproofing helps increase the durability and lifespan of structures while also protecting the interiors from damage caused by water seepage such as mildew and mould.
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Based on type, the market is divided into:
- Liquid Membrane
- Breakup by Type
- Bituminous Coating
- Polyurethane Membrane
- Cementitious Membrane
- Bituminous Membrane
- Thermoplastic Membrane (PVC, Others)
- Breakup by Type
On the basis of technology, the market is categorised into:
- Nanotechnology Waterproofing
- Crystalline Waterproofing
- Flexible Waterproofing Membrane
By application, the market is segmented into:
- Roofing and Balconies
- Parking Deck
- Tunnel Liners
- Bridges and Highways
Waterproofing Market Trends
Technological advancements in waterproofing production and applications are among the key trends influencing the Malaysia waterproofing market. New product developments are leading to waterproofing materials that offer enhanced protection and durability and easier applications processes. Liquid membrane type of waterproofing occupies a sizable share of the market due to the ease in application it offers and its enhanced durability.
Rising awareness regarding the advantages of waterproofing is also a crucial trend impacting the Malaysia waterproofing market. As more consumers become aware of how waterproofing can protect their homes and offices, they are investing in having waterproofing done. The demand for waterproofing of older constructions and remodelling is also on the rise, further bolstering the waterproofing market in Malaysia.
An increasing focus on sustainability and development of green buildings is another aspect contributing to the expansion of the Malaysia waterproofing market. Development of green buildings in Malaysia is increasing and waterproofing aids in extending the lifespan and durability of the green buildings. Meanwhile, the growing focus on sustainability is surging the development of sustainable waterproofing products and technologies, with enhanced investments towards research and development initiatives. As the applications and usage of waterproofing continue to increase, development of sustainable and green waterproofing options will likely rise.
Key Market Players
The major players in the Malaysia waterproofing market report are Sika Malaysia, PENTENS Holdings Sdn Bhd., BASF (Malaysia) Sdn Bhd, Bostik Malaysia, GCP Applied Technologies (Malaysia) Sdn. Bhd, MAPEI Malaysia Sdn Bhd (MMSB), Saint Gobain Malaysia, Fosroc Sdn Bhd, Topkrete Sdn Bhd, and Chemind Industries Sdn Bhd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.