LONDON, March 07, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Liquid Applied Membranes Global Market Report 2024, the liquid applied membranes market has witnessed substantial growth in recent years and is primed for continued expansion. According to recent data, the market is projected to escalate from $18.89 billion in 2023 to $20.43 billion in 2024, reflecting a notable compound annual growth rate (CAGR) of 8.1%. The liquid applied membranes market size is expected to see strong growth in the next few years. It will grow to $26.82 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
Driving Forces
Anticipated strong growth in the liquid applied membranes market is attributed to the surge in residential and commercial construction activities. The imperative need for effective waterproofing solutions to protect structures from moisture damage and water infiltration is propelling demand. Liquid applied membranes, applied seamlessly to various substrates such as roofs, foundations, basements, and balconies, offer durable waterproofing barriers. With increased construction activity globally, the demand for dependable waterproofing solutions provided by liquid applied membranes is expected to rise significantly.
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Industry Insights
Recent statistics from authoritative sources such as the Australian Bureau of Statistics and the US Census Bureau highlight the escalating construction activities, indicating a promising trajectory for the liquid applied membranes market. With total construction work and spending on the rise, particularly in nonresidential construction sectors, the market is poised for substantial growth.
Market Landscape
The global liquid applied membranes market exhibits a fragmented landscape, characterized by numerous small players. However, key competitors such as Dow Inc, BASF SE, and Carlisle Companies Inc dominate a significant share of the market. Market strategies include the introduction of superior products, strategic collaborations, investments in manufacturing facilities, and technological advancements such as self-repairing sheet waterproofing products and upgraded mobile applications.
Market Segmentation
The liquid applied membranes market covered in this report is segmented –
1) By Type: Polyurethane, Cementitious, Bituminous, Other Types
2) By Application: Roofing, Walls, Underground And Tunnels, Other Applications
3) By End-Use: Residential Construction, Commercial Construction, Public Infrastructure
Notably, the elastomeric segment presents lucrative opportunities, projected to garner $3,561.7 million in global annual sales by 2028.
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Stakeholders across the construction and waterproofing industries can leverage this comprehensive report to navigate the evolving landscape of the liquid applied membranes market. By understanding key growth drivers, market dynamics, and emerging opportunities, businesses can formulate strategic initiatives to capitalize on the market's potential. Whether through product innovation, strategic partnerships, or investments in manufacturing capabilities, stakeholders can position themselves for sustained growth and success in this thriving sector.
Liquid Applied Membranes Global Market Report 2024 by The Business Research Company provides insights on the liquid applied membranes market size, liquid applied membranes market segments, liquid applied membranes market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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