The global liquid applied membrane market is expected to reach USD 6.92 billion by 2022, according to a new report by Grand View Research, Inc. Technical advancements in liquid applied membrane, when compared to traditional systems, allow benefit in terms of cost reduction, better planning, and overall concrete protection. Liquid applied membranes have immense market potential on account of flexibility, making them ideally suited for application in water and waste management systems.
European Commission announced favorable prices governing the production of natural based polymer products such as biopolymers, thereby enabling major players in the liquid applied membrane market to provide environment-friendly solutions. Developing markets of Asia Pacific and Europe are expected to account for over 50.0% share in global waste and water management industry, further augmenting market demand for liquid applied membrane. Governments of various developing and developed nations have comprehended the dual need for infrastructure development, coupled with sustainability and durability. This is driving the demand for green buildings, consequently generating a vast market opportunity for the liquid membranes market.
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Further key findings from the report suggest:
Cementitious membrane accounts for a significant share owing to increased availability of polymer reinforced membranes which allow superior quality at affordable cost. These membranes can withstand high negative as well as positive hydrostatic pressure and provide excellent bonding to concrete, which facilitates high-quality waterproofing. The segment is expected to grow at a CAGR of 6.4% from 2015 to 2022.
Polyurethane membrane is expected to witness rapid growth in demand on account of its superior properties including ease of application, resistance to UV radiation, water vapor permeability, easy repair & maintenance, and high mechanical strength. Companies have been increasingly developing polyurethane based membranes to meet rapidly growing demand. These accounted for over 12.0% of the global market in 2014 in terms of revenue.
Roofing application dominated the market in 2014 and accounted for over 28.0% of total revenue share. Excellent physical and chemical properties of liquid applied membrane coupled with rapid infrastructural development worldwide are expected to increase penetration in this segment over the forecast period.
Residential segment is expected to be the major end-use on account of rising urban population and increasing infrastructure investment by governments. Asia Pacific is expected to witness rapid growth in this segment on account of growing trend of nuclear families in the region.
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Asia Pacific market demand was over 250.0 million square meters and is expected to rise on account of increasing requirement to an elongate life of building structures and protect the infrastructure during severe environmental conditions. Governments have been investing increasingly in the protection of historical monuments which is expected to propel growth over the forecast period. In addition, increasing urban population in the region is expected to facilitate residential construction, thus driving demand for the product over the forecast period.
Europe accounted for over 30.0% of the global market size and is expected to witness significant growth over the coming years. The revival of European construction industry with rapid growth in demand from the UK, Germany, and Nordic countries is expected to propel liquid applied waterproofing utilization in the region over the forecast period. The construction industry in Eastern European countries including Hungary, the Slovak Republic, and Poland has also witnessed moderate growth over the past years and is expected to have a positive impact on liquid applied membrane demand over the next seven years.
Key market players highly rely on R&D for new product development to sustain competition. The other major strategies include joint ventures and acquisitions & mergers. In April 2014, INGE GmbH, a subsidiary of BASF SE, entered into a strategic, contractual agreement with Aquasource to synergistically improve their waterproofing solutions. In August 2013, Pidilite Industries Ltd. acquired Suparshva Business Limited to expand its adhesive business.
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