The global liquid applied membranes (LAMs) market size is expected to grow from USD 18.5 billion in 2020 to USD 24.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period. This high growth is due to the increasing spending on infrastructure development and the growing requirement of water management activities in the APAC region.
Infrastructure development includes creating power stations, electricity grids, water supply & treatment plants, roads, railways, airports, bridges, telecommunication networks, schools, and hospitals. According to PriceWaterhouseCoopers (PWC), the output for residential and non-residential (including commercial, industrial, and others) infrastructures will grow by 85%, in terms of volume, to reach USD 15.5 trillion by 2030. The long shelf-life of LAMs and the fact that the waterproofing properties of a variety of polymers and high-performance materials can be easily improved with the help of these membranes will work in favor of the market. They are compatible with a wide variety of substrates, including ceramic, stone, and wood. The strong properties of LAMs, along with growing infrastructural developments, are expected to drive growth in the LAMs market during the forecast period.
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The residential construction end-use industry is expected to grow at the highest CAGR in the global LAMs market
Residential construction, commercial construction, and public infrastructure are the major end-use industries in the LAMs market. Of these, residential construction is estimated to be the largest and fastest-growing end-use industry during the forecast period. Cold-applied liquid waterproofing and roofing membranes are used on concrete podium slabs, roof decks, and planters in protected roofing applications. The ease of application of LAMs in various roofing and non-roofing applications is driving their demand in the residential construction end-use industry.
APAC is expected to hold the largest market size in the global LAMs market
The APAC was the largest market for LAMs in 2019 and is also expected to be the fastest-growing market during the forecast period. Market growth is primarily due to its rapidly growing population and increasing urbanization and industrialization. These factors are driving the demand for residential and commercial buildings in the region. Developing economies, such as India, China, South Korea, and Australia, are investing in various residential and commercial infrastructural development projects that are driving the market. Major vendors in the LAMs market include Sika AG (Switzerland), GCP Applied Technologies (US), Carlisle Companies (US), the Soprema Group (France), MAPEI (Italy), Fosroc (UK), BASF (Germany), Tremco (US), Johns Manville (US), RENOLIT (Germany), Alchimica Building Chemicals (Greece), CHRYSO (France), Copernit (Italy), Elmich (Singapore), Firestone Building Products Company (US), GAF (US), Henkel Polybit (Germany), Henry Company (US), IKO (Canada), ISOMAT (Greece), Kemper System (US), Paul Bauder (Germany), Pidilite Industries (India), Saint-Gobain Weber (France), and Siplast (US).
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