Liquid Applied Membranes Global Market Report 2024

The liquid applied membranes market has grown strongly in recent years. It will grow from $18.89 billion in 2023 to $20.43 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed in the historical period can be attributed to factors such as infrastructure development, increased requirements for waterproofing, a rise in construction activities, heightened awareness of building envelope integrity, and the expansion of the commercial and industrial sectors.

The liquid applied membranes market is expected to see strong growth in the next few years. It will grow to $26.82 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period can be attributed to factors such as urbanization and population growth, an increased focus on sustainable construction practices, advancements in materials science, retrofitting of aging structures, and infrastructure investments in emerging markets. Key trends expected in the forecast period include the adoption of sustainable and eco-friendly solutions, advancements in polyurethane technology, innovation in application techniques, integration with green roofs and living walls, and the digitalization of membrane solutions.

The ongoing surge in construction activities within residential and commercial sectors is steering the liquid-applied membrane market towards significant growth. Residential construction involves the creation of living spaces, while commercial construction pertains to structures designed for business purposes. Liquid-applied membranes, instrumental in waterproofing and fortifying construction systems, are gaining prominence. Notably, recent reports from the United States Census Bureau highlight an over 8% increase in the overall value of residential and non-residential constructions in the US between 2020 and 2021. Furthermore, the issuance of building permits for privately owned housing units in February witnessed a 13.8% rise from the adjusted January rate, totaling 1,524,000 on a seasonally adjusted yearly basis. This escalating construction activity in both residential and commercial domains serves as a driving force propelling the liquid-applied membrane market forward.

The growing emphasis on energy efficiency is anticipated to drive the expansion of the liquid-applied membrane market. Energy efficiency entails the effective utilization of energy resources to attain desired outcomes with minimal waste. Liquid-applied membranes play a crucial role in achieving energy efficiency by providing effective insulation, waterproofing, and durability. This contributes to the creation of energy-efficient buildings, resulting in long-term environmental and cost benefits. Notably, the European Union's target of achieving at least a 32.5% increase in energy efficiency by 2030, as reported by Eurostat in December 2022, underscores the market's trajectory towards greater energy efficiency.

A prominent trend in the liquid-applied membrane market is the introduction of innovative products, exemplified by Fosroc International Ltd's launch of Polyurea WH 100. This product, introduced in November 2021, offers multiple benefits for waterproofing solutions and applications, utilizing polyurea technology for a variety of roof waterproofing applications. Such product innovations play a pivotal role in sustaining market competitiveness by addressing the increasing demand for creative and effective waterproofing solutions.

Major companies are strategically focusing on products such as the seal & block line, designed for repair, preservation, and sealing of buildings. This line of high-performance materials, launched by a France-based company in March 2023, prioritizes robust adhesive qualities, durability, and suitability for various surfaces. The seal & block products cater to a range of waterproofing needs, including roofs and basements, showcasing the commitment to delivering sustainable and innovative solutions in the liquid-applied membrane market.

In September 2022, Saint-Gobain Corporation, a France-based construction materials manufacturer, acquired GCP Applied Technologies for approximately $2.3 billion. This acquisition expands Saint-Gobain’s presence in the admixtures and additives sector, providing access to GCP Applied Technologies' expertise in liquid-applied membranes and other specialty construction chemicals. The move is expected to enhance Saint-Gobain’s customer base and geographical reach in the market.

Major companies operating in the liquid applied membranes market report are Dow Inc., Fosroc International Limited, GAF Materials Corporation, Kemper System Inc., Mapei S.p.A., Pidilite Industries Limited, Sika AG, CICO Technologies Limited, BASF SE, SOPREMA S.A.S., Saint-Gobain Corporation, H.B. Fuller Construction Products Inc., Johns Manville Corporation, Henkel Polybit LLC, ISOMAT S.A., MBCC Group, GCP Applied Technologies Inc., Carlisle Companies Inc., Firestone Building Products, Mule-Hide Products Co. Inc., Tremco Incorporated, Garland Industries Inc., Polyglass Inc., IKO Industries Ltd., Derbigum Americas Inc., Karnak Corporation, Polycoat Products, Western Colloid Roofing Systems, American Hydrotech Inc., Henry Bakor Inc.

Asia-Pacific was the largest region in the liquid applied membrane market in 2023. North America is expected to be the fastest-growing region in the global liquid applied membranes market during the forecast period. The regions covered in the liquid applied membranes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the liquid applied membranes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of liquid-applied membranes include polyurethane, cementitious, bituminous, and others. Polyurethane membranes, for example, are a type of waterproofing system consisting of a two-component system with a base material and a curing agent. These membranes find applications in roofing, walls, underground structures, tunnels, and other areas. They are utilized in various construction contexts, including residential construction, commercial construction, and public infrastructure.

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The liquid-applied membrane market consists of sales of polymethylmethacrylate (PMMA), polyurethane, and silicone liquid-applied membranes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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