The global liquid applied membranes (LAMs) market size is expected to grow from USD 18.5 billion in 2020 to USD 24.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.8%. The major driving factors are increasing spending on infrastructure development and the growing requirement of water management activities in the APAC region.
The APAC was the largest market for LAMs in 2019 and is also expected to be the fastest-growing market during the forecast period. Market growth is primarily due to its rapidly growing population and increasing urbanization and industrialization. These factors are driving the demand for residential and commercial buildings in the region. Developing economies, such as India, China, South Korea, and Australia, are investing in various residential and commercial infrastructural development projects that are driving the market.
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The major LAMs vendors include Sika AG (Switzerland), GCP Applied Technologies (US), Carlisle Companies (US), the Soprema Group (France), MAPEI (Italy), Fosroc (UK), BASF (Germany), Tremco (US), Johns Manville (US), RENOLIT (Germany), Alchimica Building Chemicals (Greece), CHRYSO (France), Copernit (Italy), Elmich (Singapore), Firestone Building Products Company (US), GAF (US), Henkel Polybit (Germany), Henry Company (US), IKO (Canada), ISOMAT (Greece), Kemper System (US), Paul Bauder (Germany), Pidilite Industries (India), Saint-Gobain Weber (France), and Siplast (US). These players have adopted various growth strategies, such as investment, expansion, merger, and acquisition, to expand their presence in the LAMs market further. Mergers and acquisitions have been the most dominating strategy adopted by major players from 2017 to 2019, which helped them broaden their production capabilities and customer base.
Sika AG (Switzerland) is working efficiently in the LAMs market, owing to its high growth. The company’s growth strategy is based on investments in growth markets and innovation-driven sectors. In June 2020, the company acquired Modern Waterproofing Group (Cairo, Egypt), a leading manufacturer of bituminous membranes in Egypt. The acquisition strategy has helped Sika to broaden its product portfolio and opened up opportunities for growth in the Egyptian construction market.
Soprema Group (France) is progressing in the LAMs market by focusing on optimized performance while significantly reducing environmental impact. The company is strategizing its business with the aim of a 65% reduction of the dependence of waterprooﬁng products on petroleum-based materials. Soprema has acquired DERBIGUM Americas, the US division of DERBIGUM, a Belgian roofing solutions provider, in August 2018. This acquisition has strengthened the company’s positioning through expanded product offerings along with having local APP-modified bitumen production in the US.
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