Liquid Applied Membrane Market

Liquid Applied Membrane Market Size (2023-2028):

Liquid Applied Membranes (LAM) Market size is expected to grow from $ 18.7 billion in 2022 to $ 24.8 billion by 2028, at a compound annual growth rate (CAGR) of 6.8% during the forecast period (2023-2028)

The global liquid applied membranes market has grown steadily in recent years due to the increased demand for low-viscosity, cost-effective, easy-to-maintain, and environmentally friendly membranes in construction and infrastructure development industries.

Waterproofing is crucial in any construction, as water can damage concrete and corrode internal iron scaffolding, posing a threat to the integrity and safety of the construction. Different types of membranes are used to protect buildings, and the application of these membranes depends on many factors, including the type of construction process and the utility of the structure.

Waterproofing concrete roofs have always been a big challenge for engineers and coatings specifiers. With the increasing complexity of structural movements, the growing concern about leaks in concrete structures has long created the need for various waterproofing systems. An effective and durable waterproofing system is absolutely essential to ensure the long-term durability of concrete slabs, as well as to keep maintenance costs low, thus avoiding costly repairs. Liquid-applied membranes which cure to form waterproof elastomeric rubber-like membranes are able to stretch and return to their original shape without damage. These membranes have been widely accepted in the roofing market.

Liquid Applied Membrane Market Drivers:

Infrastructure development includes the creation of power plants, power grids, water treatment, supply plants, roads, railways, airports, bridges, telecommunications networks, schools, and hospitals. According to PriceWaterhouseCoopers (PWC), the production of residential and non-residential infrastructure (including commercial, industrial, and other) will increase by 86%, in volume, to reach $ 15.6 trillion by 2030. The long useful life of Les LAM and the fact that the waterproofing properties of a variety of polymers and high-performance materials can be easily improved using these membranes will work to the market advantage. The solid properties of LAMs coupled with increasing infrastructure developments are supposed to drive the growth of the LAM market during the outlook period.

Liquid Applied Membrane Market Restraints:

LAMs use a liquid that dries in place to form an impermeable layer on surfaces. These membranes can generally be applied anywhere. However, lamellar membranes are most often preferred in large-scale open situations. Sheet membrane waterproofing is a method in which the membrane adheres to the substrate. The problem with liquid membranes is that they can take up to 22 hours to dry, depending on the ambient temperature. During this time, the space is not accessible without compromising the seal. This makes laminated membranes the perfect choice for high-traffic, large-scale, or particularly exposed areas.

Opportunities in the Liquid Applied Membrane Market:

Green roofs are structures that are fully or partially covered with vegetation. Green roofs can reduce energy costs, minimize the urban heat island effect, remove harmful air particles and reduce stormwater runoff. Green Waterproofing is an important aspect of these building structures because it offers effective protection against water runoff and weather conditions, as well as energy efficiency. In countries like Germany and the United States, green buildings are experiencing strong growth due to the regulations on building emissions, as well as the positive impact of these establishments. Leading LAM manufacturers such as Sika, Fosroc, and Tremco are increasingly demanding green certifications for their products for use in sustainable construction projects, including green buildings.

Challenges in the Liquid-Applied Membrane Market:

One of the main challenges for LAM manufacturers is the volatility of crude oil commodity prices. Most of the raw materials used for bitumen and elastomer coatings are petroleum based and vulnerable to price fluctuations. The rise or fall of crude oil prices has a direct impact on the price of raw materials required for LAMs. Manufacturers face high and volatile raw material costs, which squeeze their profit margins. This scenario has forced market players to improve the efficiency and productivity of their operations to support growth and maintain market share.

LIQUID APPLIED FOR MEMBRANE MARKET REPORT COVERAGE:

Liquid Applied Membrane Market Segmentation as per the research report until 2028.

Liquid Applied Membrane Market - Based on Type

• Bituminous Membranes

• Elastomeric Membranes

• Cementitious Membranes

• Polyurethane Membrane

The cementitious membrane segment accounted for the majority share in 2020. The market is expected to experience a similar trend over the next seven years due to the relatively low cost compared to laminated membranes. Cementitious polymer-modified membranes are very flexible and inexpensive. These are widely used for conservative waterproofing, which is a major factor in their demand.

It is estimated that the polyurethane segment will experience substantial growth of 7.4% between 2021 and 2026. These have a uniform thickness, so their application is uniform and easy. These membranes are increasingly accepted for use on roofs, wet rooms, water, and wastewater treatment plants, stadium bleachers, bridges, and building foundations and retaining walls.

Liquid Applied Membrane Market - Based on Application

• Roofing

• Walls

• Building Structures

• Roadways 

Roofs dominated the global market and were valued at $ 1.54 billion in 2020. The rising urban population and increased demand for residential construction are expected to drive growth over the forecast period.

The building structure accounted for a 22.4% revenue share in 2020. New commercial and residential construction activities in developing regions, mainly Latin America and Asia-Pacific, are expected to increase demand in the near future. In addition, strong economic development and the removal of barriers to FDI in India are estimated to boost demand in the construction sector.

Liquid Applied Membrane Market - Based on End-use 

• Residential Construction
• Commercial Construction
• Public Infrastructure

The residential segment accounted for a revenue share of 32.1% in 2020. It is estimated that the segment will experience significant demand due to the increase in migration activities in Europe. Growing demand for green and energy-efficient residential buildings is expected to further drive demand over the conjecture period.

The commercial segment is anticipated to experience significant growth due to the increasing number of small and medium-sized businesses around the world. In addition, augmented efforts to improve educational infrastructure such as universities, schools, and institutions are determined to increase demand in the near future.

Liquid Applied Membrane Market - Based on Region

• North America 

• Europe 

• Asia Pacific

• Latin America 

• Middle East & Africa 

The U.S. is the biggest industry for liquid-applied membranes in North America. This is mainly due to the increase in the number of housing projects, the growing need for groundwater construction, and the increase in infrastructure development in the country. Single-family home construction has seen growth in the states of Florida, Georgia, North Carolina, Washington, Utah, Tennessee, Ohio, California, Idaho, and Caroline from the south. Recently, the United States Environmental Protection Agency (EPA) decided to allocate approximately $ 6.2 billion in loans under the Water Infrastructure Financing and Innovation Act (WIFIA) for water infrastructure projects. Additionally, the country has more than 110 million square feet of space still under construction for office needs. Hence, considering the above factors, the liquid-applied membranes market is foreseen to witness high growth in the country during the envisioned period.

Europe dominated the global liquid-applied membranes market in 2020 and is predicted to grow at a CAGR of 7.5%, in terms of revenue, from 2022 - 2027. Growing concerns related to water management and tailings boost demand for sealants in the region. In addition, increasing demand from countries such as Poland, Turkey, and Russia is calculated to drive business growth in the future.

APAC was the largest market for LAM in 2020 and is also expected to be the fastest-growing market during the projection period. The growth of the market is mainly due to its rapidly growing population and increasing urbanization and industrialization. Developing economies like India, China, South Korea, and Australia are investing in various commercial and residential infrastructure development projects that are boosting the market.

Impact of COVID-19 on Liquid Applied Membrane Market:

The outbreak of the novel coronavirus pandemic has affected people in more than 210 countries around the world. According to the International Monetary Fund (IMF), the world economy is expected to contract by 3.3% in 2020. According to the IMF, the pandemic has pushed the world economy into the worst recession since the Great Depression of the 1930s, countries are subject to a strict blockade, which has forced several sectors to close their operations. Due to the closure, construction activities are paralyzed, which has reduced demand for LAM. In the second half of 2020, some countries started to lift restrictions and gradually start business operations in various sectors. Even if the lockdown is lifted, it will be difficult for companies to return to normal working conditions. This will subsequently affect the LAM market.

Recent Developments:

• In September 2020, Krypton Chemical launched its new waterproofing membrane. It has a strong adhesion on different types of substrates, in particular on asphalt fabric (bituminous finish)

• In August 2019, Kemper System introduced the Color series of liquid application ceilings. Kemper System America, Inc. introduces the Kemperol® 2K-FR color series for commercial and low-slope roof designers who want the long-term protection of a fully reinforced membrane system applied by cold liquid, but who need an alternative to a white ceiling.

Liquid Applied Membrane Market Key Players:

The key players in the LAMs market are Sika AG (Switzerland), GCP Applied Technologies (US), Carlisle Companies (US), the Soprema Group (France), MAPEI (Italy), Fosroc (UK), BASF (Germany), Tremco (US), Johns Manville (US), RENOLIT (Germany), Alchimica Building Chemicals (Greece), CHRYSO (France), Copernit (Italy), Elmich (Singapore), Firestone Building Products Company (US), GAF (US), Henkel Polybit (Germany), Henry Company (US), IKO (Canada), ISOMAT (Greece), Kemper System (US), Paul Bauder (Germany), Pidilite Industries (India), Saint-Gobain Weber (France), and Siplast (US).