Market Size of Liquid Applied Membrane Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.99 Billion |
| Market Size (2029) | USD 9.03 Billion |
| CAGR (2024 - 2029) | 5.25 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Liquid Applied Membranes Market Analysis
The Liquid Applied Membrane Market size is estimated at USD 6.99 billion in 2024, and is expected to reach USD 9.03 billion by 2029, growing at a CAGR of 5.25% during the forecast period (2024-2029).
The market was significantly impacted by COVID-19 in 2020. Several countries were forced to go into lockdown, owing to the pandemic scenario, which led to the shutdown of manufacturing facilities of almost every industry worldwide for a specified time; including that of the construction industry. The commercial construction and infrastructure industries, which are the major consumers of liquid applied membrane, were significantly impacted due to the pandemic. The ongoing scenario then prompted many owners to delay or cancel construction projects for a few months in 2020. According to the Associated General Contractors of America Organization, a decrease of 40% in higher education construction, 38% in public buildings, and 27% in school construction were observed. Still, according to The National Association of Realtors, single-family home is expected to reach 6% in 2021, thus leading to the growth of liquid applied membrane market. Thus, a rise in the residential construction sector and commercial construction will boost the liquid applied membrane market. The COVID-19 outbreak has significantly impacted infrastructure development and the global economy. As per the World Bank Organization, in terms of developing-country infrastructure projects, 256 have been reported as canceled or delayed. The project disruptions in the pipeline peaked in April 2020, but since then, it started to stabilize.
- Over the long run, growing usage of waterproofing membranes to maintain the longevity of buildings, increasing benefits of liquid applied membranes resulting in cost-effective construction, and growing infrastructural and commercial projects in emerging economies are expected to drive the market growth in the forecast period.
- Availability of substitutes such as sheet membranes is expected to hinder the market growth during the forecast period.
- Increasing need for office spaces, amongst other factors, is likely to act as an opportunity for the market studied over the forecast period.
- Asia-Pacific is expected to dominate the liquid applied membrane market; while North America is expected to register the fastest growth through the forecast period.
