; Liquid Applied Membrane Market Size, Share, Trend, Forecast

Liquid Applied Membrane Market

Liquid Applied Membrane Market Size, Share, and Analysis, By Type (Elastomeric, Bituminous, Cementitious, and Others), By Application (Roofing, Walls, Building Structures, and Roadways), By Vertical (Residential Construction and Commercial Construction), By Region (North America, Europe, Asia-Pacific, and Rest of the World), And Regional Forecast 2024-2034

Published on: May-2024
Report Code: FG CON 02003
No. of Pages: 170-350
Report Format: PDF

Liquid Applied Membrane Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 5.7% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 11.9 billion and is projected to reach USD 21.8 billion by the completion of 2034.

Product Overview

Liquid applied membrane is a waterproofing system that is prevalent in construction to protect buildings and structures against water intrusion. It consists of a liquid-based material, which is typically a polymer-modified asphalt or polymer-based compound, that is applied onto surfaces like concrete, metal, or roofing materials. Upon application, the liquid membrane undergoes a curing process, forming a seamless and durable barrier that effectively prevents water penetration. Liquid-applied membranes provide numerous benefits over traditional waterproofing methods, such as ease of application and accommodation of structural movement. They find vast usage in various applications such as roofs, decks, basements, and foundations, which ensures prolonged protection against moisture damage and contributes to the longevity of buildings and infrastructure.

Market Highlights

Liquid Applied Membrane Market is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2034

Liquid applied membrane market is projected to reach USD 21.8 billion over the forecast period, due to growing recognition of the importance of waterproofing in construction projects. The demand for liquid-applied membranes is increasing across residential, commercial, and industrial sectors. It provides several advantages, including smooth application and weathering resistance. In addition, advancements in technology have encouraged the creation of eco-friendly and sustainable LAM products, that align with the rising focus on environmental preservation and sustainable construction practices. Therefore, as global construction activities are on the rise, the liquid-applied membrane market will experience steady growth in the foreseeable future.

Source: Fatpos Global

Liquid Applied Membrane Market Segmentation

Elastomeric segment will dominate due to its exceptional elasticity and properties

Liquid Applied Membrane Market is segmented based on the Type in Elastomeric, Bituminous, Cementitious, and Others. The elastomeric membrane segment stands out as the fastest-growing sector within the market as elastomeric membranes offer extraordinary flexibility and elongation properties, which enable them to adapt to structural movements without compromising their integrity. This adaptability makes them highly suitable for diverse applications such as roofs, decks, and foundations. In addition, elastomeric membranes outshine in waterproofing and seal out moisture and water intrusion, thus boosting the durability of buildings and other infrastructure. The developments in elastomeric membrane technology have further created products with high durability and environmental sustainability. Therefore, as construction projects continue to focus on reliable waterproofing solutions, the demand for elastomeric membranes will sustain its growth trajectory.

Roofing segment will lead due to the emphasis on construction activities across the world

Liquid Applied Membrane Market is divided based on Application into Roofing, Walls, Building Structures, and Roadways. The roofing segment is witnessing remarkable growth owing to the global emphasis on infrastructure expansion and urban development that has triggered a rise in construction activities. There's a growing recognition of the importance of sustainable and energy-efficient buildings, which has triggered a shift towards new roofing technologies that offer better insulation and environmental benefits. Moreover, the growing frequency of extreme weather events and the effects of climate change have increased the need for weather-resistant roofing systems. Thus, renovation and retrofitting projects in existing structures are significantly contributing to the growth of the roofing segment, as property owners are looking to improve the safety and performance standards.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Increasing Construction Activities is Promoting Growth in the Market

Rise in construction activities as a result of urbanization and population growth, stands as a major growth driver for the liquid-applied membrane market. Urban places are expanding and new buildings are continuously being developed, due to which there's a parallel surge in the demand for effective waterproofing solutions to safeguard these structures against water damage. Liquid-applied membranes emerge as a dependable choice for waterproofing, which is suitable for various applications like roofs, basements, and foundations. Moreover, the construction boom in developing countries has further amplified the demand for these membranes, as governments are actively investing in large-scale infrastructure projects. This sustained increase in construction activities will boost the growth of the liquid-applied membrane market and provide opportunities for manufacturers and contractors to meet the growing demand for waterproofing solutions.

Improvements in Technology Will Act as a Catalyst for Market Growth

Continuous technological innovations play an essential role in shaping the growth trajectory of the liquid-applied membrane market. Several Innovations in materials, application methods, and formulation techniques have resulted in the development of more efficient and sustainable liquid-applied membrane products. For instance, eco-friendly formulations are introduced to reduce environmental impact while also maintaining performance standards. Alongside, better application techniques also ensure consistent coverage, and reduce labor costs and error rates, all while enhancing installation efficiency. Thus, liquid-applied membranes are appropriate for multiple applications and settings due to their high weather resistance and durability. These technology innovations meet changing client expectations and drive growth in the market by increasing adoption across industries and sectors.

Restraints

High Initial and Maintenance Costs in the Liquid Applied Membrane Market Will Impact its Growth

High cost associated with initial installation and subsequent maintenance is a notable limitation facing the liquid-applied membrane market. LAMs offer superior waterproofing performance compared to traditional methods like sheet membranes or coatings, due to which their upfront costs can be relatively steep. This may discourage certain customers in cost-sensitive markets, from embracing liquid-applied membranes for their construction endeavors. Moreover, maintenance and repair expenses can increase the total cost of using liquid-applied membranes, which can potentially restrain their market penetration in regions that are characterized by budget constraints. Thus, despite their long-term benefits and durability, addressing cost concerns remains imperative for manufacturers and suppliers to expand the adoption of liquid-applied membranes and unlock their full market potential.

Recent Developments

  • In February 2022, BASF SE launched MasterSeal NP 1 – a new single-component, self-priming polyurethane LAM for below-grade waterproofing. Recently, the company also announced a collaboration with a leading construction company to develop a new sustainable LAM solution with improved recyclability.
  • In April 2024, Saint-Gobain S.A. announced a partnership with a recycling company to explore the development of closed-loop LAM systems for reduced environmental impact.
  • In early 2024, GAF Materials Corp. increased its focus on marketing and distribution of LAM solutions through strategic partnerships with building material suppliers.
  • In October 2022, Sika AG acquired ParexGroup, a leading manufacturer of mortars and construction chemicals, strengthening their LAM portfolio.
  • In May 2024, Sika AG introduced Sikaflex PRO-3 SL – a high-movement, self-levelling sealant specifically designed for use in LAM systems.

Liquid Applied Membrane Market

Key Players:

  • BASF SE
  • Sika AG
  • Saint-Gobain S.A.
  • GAF Materials Corporation
  • RPM International Inc.
  • Carlisle Companies Inc.
  • Firestone Building Products Company, LLC
  • Kemper System America, Inc.
  • SOPREMA Group
  • Johns Manville Corporation
  • Dow Chemical Company
  • Henry Company LLC
  • Pidilite Industries Limited
  • Tremco Incorporated
  • ARDEX Group
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Liquid Applied Membrane Market is segmented based on regional analysis into five key regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The Asia Pacific region is leading the liquid applied membrane market as the region is experiencing major urbanization and infrastructure development across countries like China, India, and Southeast Asian nations, which is attracting substantial construction activities and increasing the need for waterproofing solutions. Additionally, Asia Pacific's diverse climatic conditions, such as heavy rainfall and tropical storms, require strong waterproofing measures, where liquid-applied membranes offer exceptional performance. The increasing awareness of the benefits of liquid-applied membranes is further promoting sustainable construction practices across the region.

North America follows closely behind and displays similar patterns as the region sees a lot of development activities in the residential and commercial sectors. In addition, several construction regulations in North America require the use of effective waterproofing methods, which further creates a favorable environment for the adoption of liquid-applied membranes across the North American region.

Source: Fatpos Global

Impact of COVID-19 on the Liquid Applied Membrane Market

COVID-19 pandemic deeply impacted the liquid-applied membrane market. Initially, lockdowns and labor shortages resulted in significant disruptions in construction activities across the world. Projects were delayed or halted, which resulted in a temporary decline in demand for liquid-applied membrane products. In addition, economic uncertainty and low consumer spending further worsened the situation. However, as construction activities resumed with new safety measures, the demand for membrane products began to recover. The pandemic highlighted the importance of sustainable building materials, such as applied membranes, in ensuring structural durability and longevity. Thus, there has been a renewed focus on waterproofing solutions, which propelled market recovery in the post-pandemic era.

Liquid Applied Membrane Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Liquid Applied Membrane Market Scope and Segments:

ATTRIBUTE

  DETAILS

Study Period

2018-2034

Base Year

2023

Forecast Period

2024-2034

Historical Period

2019-2022

Growth Rate

CAGR of 5.7% from 2024-2034

Unit

Value (USD Billion)

Segmentation

Main Segments List

By Type

  • Elastomeric
  • Bituminous
  • Cementitious
  • Others

By Application

  • Roofing
  • Walls
  • Building Structures
  • Roadways

By Vertical

  • Residential Construction
  • Commercial Construction

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions (FAQ):

Liquid Applied Membrane Market size was valued at USD 11.9 billion in 2023 and is projected to reach the value of USD 21.8 billion in 2034, exhibiting a CAGR of 5.7% during the forecast period.

The Liquid Applied Membrane (LAM) market refers to the industry focused on the production, distribution, and application of liquid-based waterproofing solutions used in construction.

The Elastomeric segment and Roofing segment accounted for the largest Liquid Applied Membrane Market share.

Key players in the Liquid Applied Membrane Market include BASF SE, Sika AG, Saint-Gobain S.A., GAF Materials Corporation, RPM International Inc., Carlisle Companies Inc., Firestone Building Products Company, LLC, Kemper System America, Inc., SOPREMA Group, Johns Manville Corporation, Dow Chemical Company, Henry Company LLC, Pidilite Industries Limited, Tremco Incorporated, ARDEX Group, and Other Players.

Increasing construction activities and improvements in technology are the factors driving the liquid-applied membrane market.

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