The global liquid applied membranes (LAM) market is poised for significant growth in the coming years, driven by factors such as increasing demand for waterproofing in the construction industry, growing need for water management, and rising infrastructure spending. LAM refers to a type of waterproofing system that is applied in liquid form and cures to form a protective membrane.
According to market research, the global liquid applied membranes market is projected to reach a revenue of USD 29.44 billion by 2030, with a compound annual growth rate (CAGR) of 6.00% from 2022 to 2030. In 2022, the market is estimated to be worth USD 18.47 billion.
The market is segmented based on type, application, and end-use industry. In terms of type, the elastomeric segment holds the largest share of approximately 48.3%, followed by bituminous and cementitious subsegments. In terms of application, roofing accounts for the largest share of approximately 33.4%, followed by walls, building structures, and roadways. The end-use industry segment is divided into residential, commercial, and public infrastructure, with commercial holding the largest share.
Leading players in the liquid applied membranes market include Soprema, GCP Applied Technologies, Sika, Henry Company, and Icopal. These companies are adopting various strategies such as product launches, partnerships, and acquisitions to expand their market presence and meet the growing demand for liquid applied membranes.
The Asia Pacific region dominates the liquid applied membranes market, primarily driven by the rapid infrastructure development and growing construction activities in countries like China and India. The Middle East & Africa region is expected to be the fastest-growing region due to increasing urbanization and construction projects in countries like the United Arab Emirates and Saudi Arabia.
However, the market does face some restraints, such as the high cost of liquid applied membranes, which can limit their adoption in certain segments. Additionally, stringent regulations related to environmental impact and safety can pose challenges for market players.
On the other hand, the market presents several opportunities for growth. The increasing demand for green buildings and sustainable construction practices is driving the need for environmentally friendly liquid applied membranes. Moreover, the development of new LAMs with improved properties, such as increased durability and enhanced performance, is expected to drive market growth. Lastly, the expanding market in emerging economies provides significant opportunities for market players to tap into new markets and increase their market share.
Market Key Points
- The global market for Liquid Applied Membranes (LAMs) is projected to grow from USD 18.47 billion in 2022 to USD 29.44 billion in 2030, with a CAGR of 6.00%.
||2022 - 2030
||USD 18.47 Billion
||USD 29.44 Billion
|Fastest Growing Region
||Middle East & Africa
- The type segment of LAMs is dominated by Elastomeric, Bituminous, and Cementitious membranes, with Elastomeric holding the largest market share of 48.3%.
- In terms of application, Roofing is the largest segment, followed by Walls, Building Structures, and Roadways, with a market share of 33.4%.
- The end-use industry segment is categorized into Residential, Commercial, and Public Infrastructure, with Commercial having the highest market share of 18.3%.
- The top companies operating in the LAMs market are Soprema, GCP Applied Technologies, Sika, Henry Company, and Icopal.
- The Asia Pacific region is the largest market for LAMs, while the Middle East & Africa region is expected to grow at the fastest rate.
- The drivers of the LAMs market include the increasing demand for waterproofing in construction, the growing need for water management, and the rise in infrastructure spending.
- The restraints for the market include the high cost of LAMs and stringent regulations.
- Opportunities in the market include the growing demand for green buildings, the development of new LAMs with improved properties, and the expanding market in emerging economies.
Market Dynamics (DRO)
1. Increasing demand for waterproofing in construction: The construction industry is experiencing a rising demand for effective waterproofing solutions to protect buildings and infrastructure from water damage. Liquid Applied Membranes (LAMs) offer excellent waterproofing performance, making them increasingly popular in various construction applications.
2. Growing need for water management: With the growing concerns over water scarcity and the need for efficient water management, the use of LAMs is on the rise. These membranes not only provide waterproofing but also aid in managing water by preventing leakage, seepage, and water infiltration into structures.
3. Rise in infrastructure spending: Governments and private entities across the world are investing heavily in infrastructure development. This increased spending in sectors such as transportation, public infrastructure, and commercial buildings is driving the demand for LAMs, as they play a vital role in ensuring the durability and longevity of infrastructure.
1. High cost of LAMs: Liquid Applied Membranes can be relatively expensive compared to traditional waterproofing methods. The cost of materials, installation, and maintenance can deter some construction projects from adopting LAMs, especially in price-sensitive markets.
2. Stringent regulations: The application and use of LAMs are subject to regulations and standards set by government authorities and industry organizations. Compliance with these regulations can pose challenges and add additional costs to projects, thereby restraining the growth of the market.
1. Growing demand for green buildings: The global emphasis on sustainability and green building practices presents a significant opportunity for LAMs. These membranes can contribute to energy efficiency, reduce environmental impact, and enhance the overall performance of green buildings. As the demand for eco-friendly construction solutions continues to grow, LAMs can capture a larger market share.
2. Development of new LAMs with improved properties: Key players in the industry are continuously investing in research and development to improve the performance, durability, and versatility of liquid applied membranes. By introducing innovative solutions and enhanced properties, such as UV resistance, flexibility, and rapid curing, new LAMs can cater to a wider range of applications and gain a competitive edge.
3. Expanding market in emerging economies: The construction industry in emerging economies is witnessing rapid growth due to urbanization, infrastructure development, and increasing disposable incomes. This presents a significant opportunity for LAMs, as these economies require reliable and cost-effective waterproofing solutions for their expanding construction projects. By targeting these markets, companies can tap into new customer bases and drive overall market growth.
Overall, the drivers, restraints, and opportunities in the liquid applied membranes market indicate a positive outlook for the industry, with increasing demand and potential for growth in various sectors and regions.
Liquid Applied Membranes Market Segment Insights
The liquid applied membranes market is segmented based on type, application, and end-use industry.
1. Type Segment:
- Elastomeric LAMs: This sub-segment is expected to hold the largest share in the liquid applied membranes market. Elastomeric LAMs offer excellent flexibility, weather resistance, and durability, making them suitable for various applications in the construction industry.
- Bituminous LAMs: Bituminous LAMs are known for their excellent waterproofing properties. They are commonly used for roofing applications due to their ability to withstand extreme weather conditions.
- Cementitious LAMs: Cementitious LAMs are gaining popularity due to their high adhesion properties and resistance to mechanical stress. They are widely used in the construction of building structures and roadways.
2. Application Segment:
- Roofing: The roofing sub-segment is expected to dominate the liquid applied membranes market. The increasing demand for efficient and durable roofing systems in residential and commercial buildings is driving the growth of this segment.
- Walls: Liquid applied membranes are used for waterproofing and protecting walls from moisture and water damage. The growing need for moisture management in buildings is boosting the demand for liquid applied membranes in wall applications.
- Building Structures: Liquid applied membranes are used for waterproofing and protecting various building structures such as basements, tunnels, and foundations. The construction of new infrastructure projects is driving the demand for liquid applied membranes in this segment.
- Roadways: Liquid applied membranes are used for waterproofing and protecting roadways from water penetration and damage. The increasing investment in infrastructure development and road construction projects is fueling the growth of this segment.
3. End-use Industry Segment:
- Residential: The residential sector is expected to hold the largest share in the liquid applied membranes market. The growing construction of residential buildings and the need for robust waterproofing solutions are driving the demand for liquid applied membranes in this segment.
- Commercial: The commercial sector, including commercial buildings, offices, and shopping malls, is a significant end-use industry for liquid applied membranes. The need for long-lasting waterproofing solutions to protect valuable assets is propelling the growth of this segment.
- Public Infrastructure: The construction of public infrastructure projects, such as bridges, tunnels, and airports, requires effective waterproofing solutions. Liquid applied membranes are increasingly used in the public infrastructure sector to enhance the durability and lifespan of these structures.
Overall, the liquid applied membranes market is witnessing significant growth across segments due to the increasing demand for waterproofing solutions in the construction industry and rising infrastructure spending. The market is expected to expand further with the development of new LAMs with improved properties and the growing demand for green buildings.
Currently, the largest region for liquid applied membranes (LAMs) is Asia Pacific. This region has a significant market share due to the booming construction industry and increasing infrastructure spending in countries like China and India. Additionally, the demand for waterproofing solutions in residential, commercial, and public infrastructure projects has contributed to the growth of the LAMs market in this region.
On the other hand, the Middle East & Africa region is projected to be the fastest-growing market for LAMs. Factors such as rapid urbanization, rising construction activities, and the need for effective water management in the region have fueled the demand for LAMs. The Middle East and Africa region is witnessing significant investments in infrastructure projects, including commercial complexes, residential buildings, and transportation networks, which are driving the growth of the LAMs market in this region.
Overall, both Asia Pacific and the Middle East & Africa present promising opportunities for the LAMs industry due to the increasing demand for waterproofing solutions and the growth of the construction sector. Expanding market opportunities in emerging economies further contribute to the overall growth potential of the LAMs market.
Key Market Trends
Recent market trends in the liquid applied membranes (LAMs) industry include the following:
1. Growing demand for sustainable and eco-friendly solutions: With increasing environmental concerns, there is a rising demand for green buildings and sustainable construction practices. This has led to the adoption of LAMs as they offer superior waterproofing and protection while being environmentally friendly.
2. Advancements in product technology: The market has seen the development of new LAMs with improved properties such as enhanced durability, flexibility, and resistance to weathering. These advancements have expanded the application scope of LAMs and enhanced their performance in various construction projects.
3. Increasing adoption in the residential sector: The residential construction sector has witnessed a significant increase in the use of LAMs, especially in roofing and wall applications. This can be attributed to the growing awareness about the benefits of LAMs in terms of waterproofing, energy efficiency, and longevity.
4. Growth in infrastructure development: The construction of roads, bridges, tunnels, and other public infrastructure projects has increased globally. This has led to the demand for reliable waterproofing solutions, driving the adoption of LAMs in infrastructure applications.
5. Shift towards liquid-applied membranes from traditional waterproofing methods: The construction industry is gradually shifting away from traditional waterproofing methods like sheet membranes and coatings towards liquid-applied membranes. This is mainly due to the ease of installation, seamless coverage, and superior performance offered by LAMs.
6. Focus on efficient water management: The growing need for efficient water management in construction projects, especially in regions facing water scarcity, has increased the demand for LAMs. These membranes help in preventing water leakage and seepage, thereby reducing water wastage and ensuring sustainable water management.
7. Increasing investment in research and development: Market players are investing heavily in research and development activities to develop advanced LAMs with improved properties and performance. This has led to the introduction of innovative products in the market, driving the overall growth of the industry.
Overall, the liquid applied membranes market is witnessing steady growth, driven by factors such as increasing construction activities, the need for water management, and the shift towards sustainable construction practices. The industry is expected to continue growing in the coming years, fueled by the development of new LAMs and expanding market opportunities in emerging economies.
Key Companies Insight
In the liquid applied membranes (LAMs) market, there are several key players competing for market share. These companies include Soprema, GCP Applied Technologies, Sika, Henry Company, and Icopal.
Soprema is a leading player in the LAMs market, offering a wide range of products and solutions. The company has a strong global presence and focuses on innovation to meet the evolving needs of the construction industry.
GCP Applied Technologies is another major player in the market, known for its high-performance waterproofing solutions. The company has a strong customer base and extensive distribution network, allowing it to serve a wide range of applications.
Sika is a global leader in specialty chemical products for construction and industry. The company offers a comprehensive range of LAMs and has a strong focus on sustainability and technology innovation.
Henry Company is a prominent player in the LAMs market, known for its durable and reliable waterproofing solutions. The company has a strong presence in the North American market and has expanded its product portfolio to meet the growing demand for LAMs.
Icopal is also a significant player in the LAMs market, offering a wide range of roofing and waterproofing products. The company has a strong presence in Europe and is known for its high-quality and innovative solutions.
Overall, these companies compete based on product portfolio, quality, price, distribution network, and customer service. They continuously invest in research and development to develop new LAMs with improved properties and meet the increasing demand for waterproofing in the construction industry.
In recent years, the global market for liquid applied membranes (LAMs) has witnessed significant developments and growth. Key market players, such as Soprema, GCP Applied Technologies, Sika, Henry Company, and Icopal, have been actively involved in innovation and expansion strategies to capitalize on the growing demand for LAMs. Here are some of the recent market developments in the liquid applied membranes industry:
1. Increasing Demand for Waterproofing in Construction: With the rise in construction activities globally, there has been a growing demand for effective waterproofing solutions. LAMs have proven to be highly effective in providing waterproofing protection in various applications, such as roofing, walls, building structures, and roadways. This increasing demand for waterproofing in the construction industry has been a major driver for the growth of the LAMs market.
2. Development of New LAMs with Improved Properties: Market players have been focusing on the development of innovative LAMs with improved properties and performance. These advancements include enhanced durability, UV resistance, fire resistance, and ease of application. The introduction of self-adhered LAMs has gained traction in the market due to their ease of installation and superior waterproofing capabilities.
3. Growing Demand for Green Buildings: The increasing emphasis on sustainable construction practices has led to a growing demand for green buildings. LAMs play a significant role in achieving energy efficiency and sustainability in buildings by providing an effective barrier against water ingress. The use of LAMs helps reduce energy consumption, lowers carbon emissions, and improves the overall performance of green buildings.
4. Expanding Market in Emerging Economies: The market for LAMs is witnessing rapid growth in emerging economies, such as India, China, Brazil, and Southeast Asian countries. The growing urbanization, infrastructure development, and increasing disposable income in these regions have fueled the demand for LAMs. Market players are capitalizing on these opportunities by expanding their production capabilities and distribution network in these emerging markets.
5. Stringent Regulations: The market for LAMs is also influenced by stringent regulations and standards imposed by regulatory bodies regarding building codes and environmental sustainability. Market players are investing in research and development to ensure their products comply with these regulations, ensuring their market presence and sustainability.
In conclusion, the global liquid applied membranes market has witnessed significant developments driven by increasing demand for waterproofing in construction, growing need for green buildings, and the development of new LAMs with improved properties. The market is expected to continue growing, particularly in emerging economies, presenting opportunities for market players to expand their market share and capitalize on the growing demand for LAMs.