Global Market for Liquid Applied Membranes to Witness Considerable Upsurge During 2015-2021
Liquid Applied Membrane (LAM) is a low viscosity waterproofing membrane which is applied as a liquid coating to horizontal and vertical surfaces. LAM is also considered as a next generation waterproofing chemical and its monolithic, seamless property, and the capability to conform to every configuration is causing its demand to escalate in the global construction industry. Usage of bad quality construction material in the past, followed by poor maintenance of the building structure is creating a strong market for repair and rehabilitation, which can be resolved by liquid applied membranes. About 40-45% of the demand for liquid applied membrane comes from repair and restoration projects. Liquid applied membranes are also efficient in reducing cracks in the concrete, thus driving its demand across the globe.
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Improving infrastructure and increasing infrastructural spending coupled with rising disposable income of average consumers is expected to drive the liquid applied membrane market in North America, which was the largest market in 2013. Due to growing industrialization and urbanization in developing countries such as India and China, growth in Asia Pacific is expected to be the highest in the next few years and Asia Pacific is expected to be the largest market for liquid applied membrane by 2020.
On the basis of types or segment, liquid applied membrane is broadly classified into: Cementitious, Bituminous, Polyurethane, and Polyurea membrane. Cementitious membrane accounted for a majority share in the overall liquid applied membrane market. Easy maintenance and less sophisticated technologies as compared to other polymer modified LAMs is driving the growth of cementitious membrane globally. Low prices and good mineral content of cementitious membrane is also pushing its growth over other liquid applied membranes.
Governments of various developed and developing countries have comprehended the dual need for infrastructure development coupled with durability and sustainability. This is catalyzing the demand for green buildings, consequently generating a strong market opportunity for liquid applied membranes.
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Some leading global players operating in the liquid applied membrane market include Sika AG, Pidilite Industries, BASF SE, Fosroc International, Chembond Chemicals, and The Dow Chemical Company.