CHICAGO, May 14, 2024 /PRNewswire/ -- The report "Liquid-Applied Membrane Market by Type (Elastomeric, Bituminous, Cementitious), Application (Roofing, Walls, Building Structures, Roadways), Usage, End-Use Industry (Residential Construction, Commercial Construction), and Region - Global Forecast to 2029", is projected to reach USD 32.1 billion by 2029, at a CAGR of 5.9% from USD 24.1 billion in 2024.
The major factors propelling the liquid-applied membrane market include the increasing spending on infrastructure development and the rising use of waterproofing membranes. The growing need for energy-efficient buildings and rising demand for green roofs will likely create opportunities for manufacturers. However, the availability of substitutes, such as sheet membranes, for large-scale and open surfaces may restrict market growth. The liquid-applied membrane market in emerging economies presents substantial growth opportunities driven by rising demand, technological advancements, and favorable regulatory environments. Despite these promising prospects, challenges persist, including the high membrane cost and raw material shortages. Notable contributors to market growth in emerging economies include China, India, Indonesia, and South Korea.
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"Elastomeric membranes is projected to be the fastest growing type, in terms of value, during the forecast period."
Elastomeric liquid-applied membranes have exceptional durability and longevity, offer long-term safeguarding against weathering, UV exposure, and environmental elements. This properties mak them ehighly desirable for a wide range of construction needs. Additionally, certain formulations of elastomeric membranes integrate reflective properties, which helps in diminishing heat absorption, thereby reducing cooling expenses for buildings. This energy-efficient characteristic adds to their increasing favorability in construction projects aimed at sustainability and cost savings.
"Building structures segment is the second fastest growing segment by application, in terms of value, during the forecast period."
Builders and developers are recognizing the critical importance of waterproofing in building structures to prevent water damage, mold growth, and structural degradation. Liquid-applied membranes emerge as highly effective solutions for these concerns. Furthermore, as building codes and regulations increasingly mandate the use of waterproofing materials, especially in moisture-prone regions, liquid-applied membranes become a preferred choice for meeting regulatory requirements due to their proven effectiveness. These membranes offer versatility and reliability, catering to various building types and addressing diverse waterproofing needs. Additionally, they provide a cost-effective solution compared to traditional methods such as sheet membranes or cementitious coatings. This combination of factors significantly drives the market for liquid-applied membranes in building structures.
'Refurbishment is fastest growing segment on the basis of usage, in terms of value, during the forecast period."
LAMs are extensively used in refurbishment projects, primarily due to their seamless, joint-free, and waterproofing properties, offering an efficient means to extend the lifespan of roofs without the need for costly replacements. LAMs possess elastomeric properties meticulously selected to withstand significant stress, offering superior flexibility and effectively reducing the likelihood of cracks by accommodating structural movements. These qualities make liquid-applied membranes indispensable in refurbishment projects, delivering reliable and long-lasting solutions to rejuvenate and safeguard existing structures. Liquid-applied membranes provide refurbished structures with enduring waterproofing protection, ensuring reliability over an extended period.
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'Commercial construction is the second-fastest growing segment on the basis of end-use industry, in terms of value, during the forecast period."
Liquid-applied membranes play a vital role in commercial construction, particularly for roofing systems, where they are extensively utilized. These membranes are applied onto roofs to establish seamless, flexible, and waterproof layers, providing buildings with protection against water infiltration and weather-induced damage. Liquid membranes are adaptable and can effectively waterproof flat, sloped, or intricate roofs by conforming closely to the surface. Additionally, in commercial construction projects, liquid-applied membranes find application in plaza decks, parking structures, balconies, and exterior walls. The escalating population growth and the growing requirement for commercial infrastructure are anticipated to fuel the demand for diverse types of commercial buildings, consequently driving the need for Liquid-applied membranes (LAMs).
"Asia Pacific accounted largest market on the basis of region for liquid-applied membrane during the forecast period, in terms of value."
Asia Pacific accounted for the largest share in the liquid-applied membrane market in 2023. In the Asia Pacific region, advancements in liquid-applied membrane technologies are driving the development of more efficient and environmentally friendly products, thereby fueling market growth. The substantial investment opportunities and conducive business climates in countries such as China, India, and Singapore are incentivizing market players to extend their operations in the region, consequently fueling the expansion of the liquid-applied membrane market. Additionally, significant urbanization in the Asia Pacific region is resulting in a notable increase in construction projects spanning residential, commercial, and industrial buildings, intensifying the demand for liquid-applied membranes to address waterproofing needs.
New product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the liquid-applied membrane market include are Sika AG (Switzerland), MAPEI S.p.A. (Italy), SOPREMA (France), Fosroc, Inc. (UAE), Saint-Gobain Weber (France), H.B. Fuller (US), Wacker Chemie AG (Germany), Bostik (France), GCP Applied Technologies Inc (US), and Ardex (Germany) among others.
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