As cited by the business intelligence report titled ‘Global Liquid Applied Membranes Market Size study, by Type (Bituminous Membranes, Elastomeric Membranes and Cementitious Membranes), by Application (Roofing, Walls, Building Structures and Roadways), by End-Use Industry (Residential Construction, Commercial Construction and Public Infrastructure) and Regional Forecasts 2020-2027’, available with Market Study Report, global liquid applied membranes market was worth USD 17.5 billion in 2019 and is slated to record 5.8% CAGR over 2020-2027, subsequently reaching a valuation of USD 27.5 billion by the end of the forecast period.
 

Worldwide liquid applied membranes market growth can largely be attributed to growing awareness regarding the product benefits, along with increasing investments towards infrastructural development.
 

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Moreover, increasing number of smart city projects is adding considerable traction to the industry growth. In fact, Statista cites that global expenditure on smart initiatives was recorded to be around USD 81 billion in 2018 and is expected to rise by USD 189.5 billion by the year 2023, indicating a strong demand for liquid applied membranes from construction manufacturers.
 

Furthermore, innovative product launches and acquisitions, collaborations, mergers and other strategic alliances by industry participants are enhancing global liquid applied membranes industry outlook.
 

For those unaware, liquid applied membrane is a waterproofing chemical which cures to form an elastomeric membrane that is applied onto substrates such as asphalt, bitumen, and concrete to prevent water leaks. It is used for various applications, including roadways, tank lining, building structures, wet rooms, and roofing.
 

Speaking of the negatives, availability of alternatives such as sheet membranes for large-scale open surfaces will continue to impede market expansion during the study period.
 

From a geographic perspective, North America, Latin America, Europe, and Asia-Pacific are the key contributors to global liquid applied membranes market value. Among these, North America marketplace is touted to grow tremendously over 2020-2025, on account of increasing number of industrial, residential, and commercial establishments, along with increasing population count and rapid urbanization.
 

GCP Applied Technologies, Inc., Sika AG, Tremco, Inc., Carlisle Companies, Inc., Mapei S.p.A., Soprema Group, BASF SE, Johns Manville, Fosroc, Inc., and Renolit SE are the top organizations influencing worldwide liquid applied membranes market trends.