Liquid Applied Membranes Global Market Opportunities and Strategies to 2033

This report describes and explains the liquid applied membranes market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global liquid applied membranes market reached a value of nearly $18.3 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4% since 2018. The market is expected to grow from $18.3 billion in 2023 to $ 25.7 billion in 2028 at a rate of 7%. The market is then expected to grow at a CAGR of 7.5% from 2028 and reach $36.8 billion in 2033.

Growth in the historic period resulted from the stringent regulations for energy efficiency and building codes, rapid urbanization, shift towards green building materials and practices and increasing infrastructure development expenditure by governments. Factors that negatively affected growth in the historic period were geo-political tensions and lack of awareness and poor handiwork.

Going forward, the increasing population density and urbanization, growth in residential and commercial construction activities, rapid growth in renovation and remodeling projects and increasing need for protection against weathering and UV radiation will drive the growth. Factor that could hinder the growth of the liquid applied membranes market in the future include limited availability of skilled labor for proper membrane application.

The liquid applied membranes market is segmented by type into elastomeric, cementitious, bituminous and other types. The elastomeric market was the largest segment of the liquid applied membranes market segmented by type, accounting for 44.8% or $8.2 billion of the total in 2023. Going forward, the elastomeric segment is expected to be the fastest growing segment in the liquid applied membranes market segmented by type, at a CAGR of 7.5% during 2023-2028.

The liquid applied membranes market is segmented by application into roofing, walls, underground and tunnels and other applications. The roofing market was the largest segment of the liquid applied membranes market segmented by application, accounting for 43.4% or $7.9 billion of the total in 2023. Going forward, the underground and tunnels segment is expected to be the fastest growing segment in the liquid applied membranes market segmented by application, at a CAGR of 7.6% during 2023-2028.

The liquid applied membranes market is segmented by end-use into residential construction, commercial construction, and public infrastructure. The residential construction market was the largest segment of the liquid applied membranes market segmented by end-use, accounting for 42% or $7.7 billion of the total in 2023. Going forward, the residential construction segment is expected to be the fastest growing segment in the liquid applied membranes market segmented by end-use, at a CAGR of 7.3% during 2023-2028.

Asia Pacific was the largest region in the liquid applied membranes market, accounting for 39.1% or $7.1 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the liquid applied membranes market will be Asia Pacific and Western Europe where growth will be at CAGRs of 7.9% and 7% respectively. These will be followed by Eastern Europe and North America where the markets are expected to grow at CAGRs of 6.7% and 6.5% respectively.

The global liquid applied membranes market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 17.6% of the total market in 2022. Dow Inc was the largest competitor with a 3.8% share of the market, followed by BASF SE with 2.1%, Carlisle Companies Inc with 1.9%, Firestone Building Products with 1.7%, SOPREMA with 1.6%, Saint-Gobain with 1.6%, Henkel Polybit LLC with 1.4%, Sika AG with 1.3%, Mapei SpA with 1.2% and H.B Fuller Construction Products Inc with 1.1%.

The top opportunities in the liquid applied membranes market segmented by type will arise in the elastomeric segment, which will gain $3.6 billion of global annual sales by 2028. The top opportunities in the liquid applied membranes market segmented by application will arise in the roofing segment, which will gain $3.3 billion of global annual sales by 2028. The top opportunities in the liquid applied membranes market segmented by end-use will arise in the residential construction segment, which will gain $3.3 billion of global annual sales by 2028. The liquid applied membranes market size will gain the most in China at $1.8 billion.

Market-trend-based strategies for the liquid applied membranes market include launch of superior liquid applied membrane products, strategic collaborations and acquisitions to provide specialized waterproofing solutions, increasing investments in manufacturing facilities to meet the growing demand, introduction of self-repairing sheet waterproofing products and release of upgraded mobile applications for liquid products.

Player-adopted strategies in the liquid applied membranes market include focus on enhancing its business capabilities through the launch of new products.

To take advantage of the opportunities, the analyst recommends the liquid applied membranes companies to focus on product innovation and performance enhancement, focus on introducing self-repairing sheet waterproofing products, focus on mobile applications for enhanced customer support, focus on elastomeric segment, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships and collaborations, focus on expanding distribution channels, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, prioritize digital marketing channels, focus on residential construction sector and focus on targeting underground and tunnels segment.