Liquid Applied Membrane Market : Industry Analysis, Future Growth, Business Prospects and Global Forecast to 2025
Liquid applied membranes are moisture-curing membranes applied on surfaces that need to be protected from water and other environmental elements. Waterproofing roofs, walls, and floors is the primary application segment of the liquid applied membrane market, which has consequently been driven by the rapid rise of the construction industry in developing countries in the recent past and the renewed demand from developed economies, often for renovation purposes. Liquid applied membranes have become a key part of the construction sector in developed economies, as construction work in these regions is focused more on bringing existing construction up to the latest quality standards rather than the construction of new projects.
The low environmental impact of liquid applied membranes has been vital for growth of the global market. The construction industry has faced a tough route back to stability in Western economies following the 2008-09 economic slowdown, and has had to deal with increasingly stringent environmental laws determining the direction of the technological progression within the industry. The rising use of liquid applied membranes for waterproofing has thus become a key feature of the construction industry and is likely to remain a key market in the coming years.
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A lack of practical inconveniences has worked in favor of the liquid applied membrane market, as the membranes have low viscosity and don’t emit foul odors. Liquid applied membranes are compatible with a wide variety of substrates, including ceramic, stones, as well as wood. This has also been a key driver for the global liquid applied membranes market in recent years, as it has allowed for widespread use of liquid applied membranes in a variety of construction projects.
Liquid Applied Membrane Market: Overview
Liquid applied membrane (LAM) is a low-viscosity, moisture-curing membrane used for waterproofing different horizontal and vertical surfaces, including roofs and floors. These are widely used as waterproofing membranes for various construction structures and in ceramic and natural stone tile installations. Over the recent decade, advances in materials technology, along with the demand for cost-effective and environment-friendly waterproofing chemicals, have led to the fast evolution of the liquid applied membrane market.
On account of being cost-effective, environment-friendly, and the ability to withstand harsh weather conditions, the liquid applied membrane market is expected to witness significant growth in the coming years. Other most desirable properties of liquid applied membrane that enhance its performance are: low viscosity, low odor, solvent free. In addition, its ability to mix with other polymers and materials augments its durability and is a defining characteristic catapulting its demand in various applications.
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The liquid applied membrane market can be majorly segmented on the basis of product types, applications, end-use industries, and geography. Prominent types of liquid applied membrane can be cementitious, bituminous, and polyurethane; the major application areas are roofing, walls, and landfills and tunnels. On the basis of geography, the market can be segmented into Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America.
The analysis, performed with the aid of a number of primary and secondary research methods, provides insights into the raw materials supply chain, current manufacturing trends, key application areas, emerging technologies, and competitive market dynamics. The research report provides an in-depth insight into the market share and size of prominent segments, and the macro and micro economic factors shaping the market demand across major regions such as Europe, Latin America, and Asia Pacific. The research study helps manufacturers across the globe identify imminent investment pockets and enable them to devise strategies to capitalize on the promising growth opportunities.
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Liquid Applied Membrane Market: Key Drivers, Restraints, and Opportunities
The increase in construction activities for residential, commercial, and industrial sectors is expected to propel the demand for liquid applied membranes across regions. Coupled with this, rise in infrastructural spending, along with the growing urbanization, have led to a significant demand for waterproofing membranes. Furthermore, the rise in repair and rehabilitation projects has spurred the demand for advanced, environment-friendly, and high-performing liquid applied membranes. Rise in residential housing projects across the globe, particularly in emerging nations of Asia Pacific, is a key factor fuelling the growth of the liquid applied membrane market. In addition, the low cost of these membranes is anticipated to have a favorable impact on market growth over the forecast period.
The market is, however, likely to witness sluggish growth due to extensive price volatility of some raw materials and the general lack of awareness for advanced construction materials for waterproofing various surfaces. In addition, the high cost of polyurethane liquid applied membranes has hampered the demand for these membranes in some regions.
The demand for attaining sustainability and durability of construction structures, combined with the demand for higher energy savings in buildings, is expected to create lucrative growth opportunities for market players. Extensive R&D activities undertaken by key manufacturers have led to the development of high-performing and multi-functional products in the market. Moreover, the need for crucial product differentiation among prominent market players will boost the growth of the liquid applied membranes across major geographic regions.
Liquid Applied Membrane Market: Region-wise Outlook
Rising disposable income and fast growing infrastructure activities in Europe has led to an extensive demand for cost-effective and high-performing liquid membranes in the region. In addition, significant concerns related to water and waste management are factors propelling the market growth in Europe.
On the other hand, rising industrialization and infrastructure spending in Asia Pacific is expected to stimulate the demand for these membranes in this region. The demand for various energy-savings initiatives have led to an increased demand for advanced liquid applied membranes for construction of green buildings in developed regions.
Liquid Applied Membrane Market: Competitive Landscape
Major players operating in the liquid applied membrane market include Exxon Mobil Corporation, Sika AG, BASF SE, Pidilite Industries Limited, Carlisle Companies Inc., Kemper System America, Inc., Soprema Group, Dow Chemical Company, Johns Manville Corporation, GAF Materials Corporation, and Fosroc Ltd. Mergers and acquisitions, partnerships and joint ventures, and R&D activities on product development are some of the strategies adopted by the players to consolidate their market positions.
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