The government of Malaysia has been increasing the infrastructure budget from the past few years. The budget allocation for the year 2017 was USD ~ billion. According to 2017 budget of Malaysia, the government has planned to spend USD ~ billion for the development purpose. Around more than 30,000 houses will be build during 2017 under the PR1MA scheme which would be sold for USD 35,000-70,000. Also, the house financing would be easily made accessible to the buyers. All these factors would result in the growth of the waterproofing sector in the future.
Many new end user segments have been seen as the drivers of the waterproofing membrane market, as with the probability of their expansion will lead to more demand of products and expand the waterproofing market further. Such as, prevention of uneven water precipitation across various regions due to seasonal variation increases the importance of water conservation and waste water management, which will entail the industry to increase their infrastructure capability and in return, will increase the demand of waterproofing products in these facilities.
Green building is one of the few sectors of the construction market that has experienced virtually uninterrupted growth over the past decade. What was once voluntary is becoming mandatory. Building codes are insisting on more insulation, both above and below grade. In practice, this means more rigid foam insulation above and below grade, so waterproofing systems must adapt to be compatible.
The market size of the total waterproofing membrane market of Malaysia in the year 2017 will be USD ~ million and will increase to USD ~ million by 2019, registering a CAGR of ~% during the period
The cost of construction continues to rise, driven by escalating raw material and labor costs. In response, project developers and owners are increasingly choosing cutting-edge waterproofing products and solutions.
Ken Research predicts that the Malaysian waterproofing market would get more cost driven and the commercial market will shrink due to affordability issues. Malaysia has also come up with relaxed real estate buyer regulations for foreign buyers which will boost demand in real estate sector and will also push the waterproofing industry growth
Ankur Gupta, Head Marketing & Communications