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Global Industry Analysis of Liquid Applied Membranes for Construction

 Liquid Applied Membranes for Construction: Introduction

·         Liquid applied membranes is a low viscosity liquid-based coating generally applied over various substrates including asphalt, bitumen, and concrete. Liquid applied membranes provide a coating that cures to form a rubber-like elastomeric waterproof membranes.

·         It is cost-effective solution, especially for repair and renovation of exposed roofs. Liquid applied membranes fill the gaps & cracks in a substrate. They are primarily used for waterproofing and roofing applications. Application of this product is not only limited to roofing but also for waterproofing of basements, roads, terraces, podiums, bridge decks, etc.

·         Based on coating type, the global liquid applied membranes market can be segmented into polyurethane, polyurea, epoxy, acrylic and others

Key Drivers of Liquid Applied Membranes for Construction Market

·         Liquid applied membranes are extensively utilized for renovation activities, as compared to that in new construction. Usage of low quality construction material in the past coupled by poor maintenance of buildings is fueling the demand for repair & rehabilitation, which can be resolved by liquid applied membranes. According to an article published by Forbes, 80% of the 137 million homes in the U.S. are currently at least 20 years old, and 40% are at least 50 years old. Cost of renovation & repair of houses is considerably less as compared to that of buying new houses. These factors are likely to augment the demand for liquid applied membranes for construction in the next few years.

·         The construction industry in countries in the Middle East and Japan has witnessed expansion at a rapid pace owing to increase in its construction activities for global events such as FIFA World Cup 2022 in Qatar, World EXPO 2020 in Dubai, and Olympics 2021 in Japan. Rapid expansion of the construction industry in GCC can be ascribed to the Government of Saudi Arabia’s increased focus on repair, renovation, and construction of commercial buildings and infrastructure to boost tourism in the country. Construction of hotels has increased in the sub-region to cater to the need for affordable homes for tourists of all over the world while attending such events. This is estimated to also fuel the demand for construction materials, thereby driving the liquid applied membranes for construction market in the GCC sub-region during the forecast period.

·         Demand for housing has been increasing year-on-year in India and China owing to a rise in the population of these countries. Governments of several countries such as China, India, Bahrain, Kingdom of Saudi Arabia, and Vietnam have launched schemes to provide homes for their lower income citizens. In 2015, the Government of India launched its affordable housing scheme called “Housing for All by 2022” with an overall objective of providing a) housing for slum dwellers with participation of private developers using land as a resource, b) promoting affordable housing for weaker sections through credit-linked subsidy, c) focusing on partnership with public & private sector for affordable housing, and d) providing subsidy for house construction or enhancement. These schemes or strategies are estimated to propel liquid applied membranes for construction market.

Key Restraint of Liquid Applied Membranes for Construction Market

·         In low-income countries, coal tar is utilized for waterproofing applications on roofs and roads owing to its low cost, as compared to that of polyurethane or polyurea coating. This can hamper the liquid applied membranes for construction market. However, exposure to toxic fumes released from coal tar can be harmful to human health.

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Covid-19 Impact on Liquid Applied Membranes for Construction Market

·         The COVID-19 pandemic has a severe impact on construction industry. The construction industry is witnessing supply chain disruptions due to factory closures and transportation restrictions. Several countries such as China and India imposed lockdowns during the first half of the year to contain the pandemic, thereby restricting the movement of people and gatherings. The restrictions put in place by governments have halted all construction activity and most of the business activity across their respective countries. However, several governments have started to ease lockdown restrictions on construction activities. This is expected to revive the overall construction industry in the second half of the year.

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Global Liquid Applied Membranes for Construction Market: Regional Outlook

·         In terms of geography, the liquid applied membranes for construction market in Asia Pacific has been expanding at a considerable pace owing to the increasing investment in infrastructure development by countries such as China and India. In 2019, National Development and Reform Commission of the People's Republic of China approved 26 infrastructure projects with total expected investment of US$ 142 Bn. The Government of China plans to diversify its economy by building infrastructure projects in all provinces of the country in order to counter the country’s slowing economy growth owing to its dependence on exports and the manufacturing sector. This rise in construction activities in China is boosting the construction industry and subsequently, fueling the demand for high strength concrete as construction material. Asia Pacific is followed by North America & Europe, in terms of share of the global market. Increasing immigrants and rising income of millennials in these regions is boosting the demand of new homes or repair of existing homes in North America and Europe.

·         The market in Middle East & Africa and Latin America is estimated to expand in the next few years, owing to recent economic developments and rise in investments in construction projects in these regions

Key Players Operating in Global Market

Key players operating in the global liquid applied membranes for construction market include:

·         SIKA AG

·         BASF SE

·         Pidilite Industries Ltd.

·         Mapei S.p.A.

·         Tremco Construction Products Group

·         GCP Applied Technologies Inc.

·         Carlisle Companies Incorporated

·         SOPREMA group

·         RENOLIT SE

·         CHRYSO 

·         Copernit S.p.A.

·         Henkel Polybit Industries LTD.

·         Fosroc, Inc.

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