The liquid applied membrane market was valued at USD 14.42 billion in 2015, and is projected to reach USD 20.84 billion by 2021, at a CAGR of 6.3% from 2016 to 2021. Growth in this market is mainly attributed to the increasing demand for liquid applied membrane in the construction end-use industry. The boom in residential construction and the growing investments in repair and maintenance work in the construction industry is driving the liquid applied membrane market. Rising demand for energy-efficient buildings is also contributing to the growth of the liquid applied membrane market.
In the current global regulatory scenario, elastomeric membranes are popular in the North American and European regions due to the stringent environmental regulations. However, as of today, regulations in the Asia-Pacific and Middle-Eastern regions are less stringent. Moreover, these regions prefer low priced liquid applied membranes and hence the bituminous type are leading in these regions. If the regulatory conditions in these regions change with the growing environmental awareness, elastomeric membranes would be preferred over the bituminous type.
The elastomeric liquid applied membrane is the fastest growing type of liquid applied membranes due to its eco-friendly nature and properties such as, high resistance to chemicals, abrasion and moisture, durability, and adhesion. Players in the liquid applied membrane market are innovating in elastomeric membranes such as acrylic, polyurethane, polyurea, and so on. For instance, The Dow Chemical Company (U.S.) in February 2014, launched PRIMAL AS-8012 Styrene Acrylic Emulsion Polymer, a cement-based flexible waterproofing membrane.
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Walls is the fastest growing application in the liquid applied membrane market. Interior walls in wet areas require water proofing and exterior walls require both, waterproofing and protection. The growing construction industry, coupled with the environmental norms and quality standards offer new avenues for the growth of this application segment.
Public infrastructure is the fastest growing segment due to the increasing use of liquid applied membranes in underground construction, roofing, floors, bridges, and so on. Growing urbanization and industrialization has resulted in high growth in the requirement for public infrastructure. Green building initiatives undertaken by governments has further boosted the liquid applied membrane market.
The Asia-Pacific region is the fastest-growing liquid applied membrane market owing to the increasing investments and infrastructural projects in emerging countries such as India and China. This has also boosted the use of liquid applied membrane for residential construction, which is growing due to the construction of housing schemes to cater to the growing populations in these countries.
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