October 2017 | India News
Demand for liquid applied membrane in India has witnessed growth at a staggering CAGR of 30.4% during the period FY’2012-FY’2017. Liquid applied membranes offer seamless and joint-free waterproofing to structures. The entire process is quick and requires low labor cost as compared to other methods of waterproofing. With growing need of durability in structure coupled with green buildings requirement, the market has witnessed considerable adoption of liquid membrane products and the demand for high end LAM waterproofing systems is expected to rise multifold in the near future.
Liquid applied waterproofing membranes accounted for a greater market share in the overall waterproofing membrane market as of FY’2017. The product segment has achieved such high market penetration primarily due to its beneficial attributes, easy application and availability of low-end liquid applied membrane products for price-sensitive target audience. Pidilite and BASF India are some of leading developers of liquid membrane waterproofing products.
With growing need of durability in structure coupled with green buildings requirement, the demand for high end LAM waterproofing systems is expected to rise multifold in the near future. The segment is expected to witness further rise in market share, with major growth expected to be recorded by cementitious liquid applied membrane, because of its negative waterproofing ability and mineral content property. The low price of cementitious liquid applied membrane as compared to other systems is to further influence the growth.
Waterproofing membranes in India is still a new generation technology in waterproofing segment and is plagued with low user awareness and acceptance. The use of waterproofing solutions is still negligible in India due to low market awareness and most consumers still consider it as being an added expense. However, the formation of Construction Chemicals Association is a move towards the direction of creating awareness among the masses.
In the last few years, the construction sector has contributed for an average 6-7% of the country’s GDP at current prices. The GDP from construction sector has grown at a CAGR of 6.9% during FY’2012-FY’2017 and was valued at USD 201.5 billion in FY’2017. It is expected to grow at a CAGR of 8.1% during FY’2017-FY’2022 to USD 298.0 billion in FY’2022. Owing to several initiatives undertaken by the government of India, including creation of 100 smart cities, the market for liquid applied membranes is expected to gain traction due to expansion of the construction sector in India.
The report titled “India Waterproofing Membrane Market by Type (Emulsion – Low and High; Immobilized Liquid Membrane – Low and High; Sheet membrane), Raw Material (Polymers – Polyurethanes, PVC, TPO, EPDM; Bitumen – APP, SBS; Polymer modified cement) – Outlook to 2022” by Ken Research suggested the waterproofing membrane market is anticipated to grow at a CAGR of around 12% during the period FY’2017-FY’2022.
Ankur Gupta, Head Marketing & Communications