Home > Polymers, Specialty Chemicals & Advanced Materials > Liquid Applied Membranes (LAM) Market
Liquid Applied Membranes (LAM) Market size will see noticeable growth over 2023-2032 due to rising government spending on infrastructure development and the flourishing construction sector globally. Furthermore, the surging need for water management activities has led to growing investments in urban infrastructure development and the construction of bridges, dams, power, and roads, which is likely to propel the industry growth.
Some of the other factors influencing the market dynamics include increasing emphasis on repairing and renovating aging infrastructures, a rising number of roof restoration projects, and growing instances of R&D activities by various manufacturers.
Liquid-applied membranes are monolithic, and fully bonded liquid-based coatings that are suitable for various waterproofing and roofing applications. They are increasingly preferred over other waterproofing membranes for offering superior scratch and water resistance, long-term weathering, optimum load-bearing capacities, and high-water vapor permeability.
Demand for cementitious liquid applied membranes is expected to rise exponentially owing to the growing product adoption to protect building constructions from aggressive chemicals. These membranes are extensively utilized to safeguard outer surfaces and structural components of buildings against moisture and water. Growing product penetration in the waterproofing of water tanks & wet rooms, along with the rising focus on less sophisticated technologies and easy maintenance are projected to favor the segment growth through 2032. However, the rising inflation rate globally is likely to impact the price of raw materials, which, in turn, may lead to high production and final product cost, thereby limiting segment expansion.
In terms of application, the liquid applied membranes (LAM) market from the roofing segment is estimated to depict a robust growth rate through 2032 attributed to the surging obligation for rapid curing, easy & safe application, durability, and excellent adhesion. The rise in innovations across the construction sector has amplified the need for roof restoration and repair. Additionally, the increasing product adoption in remedial roofing applications to provide solid and long-lasting solutions owing to its considerable weatherproofing capacities and a higher need for waterproofing concrete roofs will act as potential drivers for segment development.
Based on end-use, the liquid applied membranes (LAM) market share from the residential sector will grow with the expanding population and the increasing requirement for affordable houses. The surge in the number of favorable investments and government initiatives has paved the way for prominent residential projects. The growing necessity for enhancing the waterproofing capacities and improving the overall structure of residential buildings has resulted in higher spending on the construction of energy-efficient residential buildings. The thriving need for replacing demolished properties is another ideal factor for the industry's progression.
Regionally, the North America liquid applied membranes market is projected to witness higher product adoption owing to the surge in the number of housing projects and the soaring requirement for underground water construction. The rising disposable incomes and the prevailing need for improved infrastructure have bolstered infrastructural spending. The presence of aging infrastructure and the growing popularity of green roofs and buildings in the region will also positively influence market growth over 2023-2032.
The liquid applied membranes (LAM) market comprises various leading companies, including GAF Materials Corporation (Standard Industries), McConnell Roofing, Saint Gobain, Applied Membranes, Inc., H.B. Fuller Construction Products Inc. (H.B. Fuller), Key Resin Company (Euclid Chemical), W.R. Meadows, Soprema (SOPREMA S.A.S.), Bostik, and Sika Corporation.
Industry participants are adopting inorganic strategic measures, including acquisitions, partnerships, and capacity expansions, coupled with several other marketing initiatives, including R&D investments, to enhance their global presence.