Liquid applied membrane market in India is expected to grow at a CAGR of 20% over the period 2014-18, which is anticipated to drive the market value to nearly USD 64 Million by 2018
Vancouver, British Columbia (PRWEB) May 26, 2013
Liquid applied membranes (LAM) are next generation waterproofing chemicals. The monolithic, seamless property and ability to conform to every configuration is tend to drive its demand in the Indian construction industry. Use of wretched quality construction material in past, followed by poor maintenance of the structure, a latent but huge market for repair and rehabilitation has developed in India. The issue of repair and rehabilitation is resolved by liquid applied membranes. About 30% demand of liquid applied membrane comes from repair and restoration projects.
According to a recently published report by TechSci Research “India Liquid Applied Membrane Market Forecast & Opportunities, 2018”, liquid applied membrane market in India is expected to grow at a CAGR of 20% over the period 2014-18, which is anticipated to drive the market value to nearly USD 64 Million by 2018. The report also describes the recent trends and developments in the Indian construction chemicals market.
The need for LAM waterproofing system is imperative in Indian context as the problem of cracks in concrete is widespread in India. Cracks are a manifestation of the corrosion of steel bars in the RCC concrete due to water ingress. The problem is acute in India as the HSD (High Strength Deformed) reinforcing bars are used in the construction of reinforced concrete structure. These bars are susceptible to early corrosion as high post-yield stresses are locked in such bars from the time of manufacturing. This calls for efficient waterproofing system like LAM which can prevent the ingress of minimal amount of water.
Government of India has realized the dual need for infrastructure development coupled with durability and sustainability. This led to mandate the green building construction concept in India, coupled with energy efficient use of construction chemicals. Indian government’s initiative towards favourable policies like National Building Code is to further boost the growth of the market. The government has come up with single window clearance scheme in order to avoid any delay in the commencement of infrastructural projects.
The major growth is 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.
The industry players are taking initiative to tackle the challenge of minimal user awareness level in the industry. The formation of construction chemicals association is one such move towards the direction. The industry players have also commenced their endeavour in the retail segment to serve the large market of individual built homes in the real estate segment.
“India Liquid Applied Membranes Market Forecast & Opportunities, 2018”, has evaluated the future growth potential of India’s liquid applied membranes market and provides statistics and information on market structure, consumer behaviour trends. The report includes liquid applied membranes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in construction chemicals market in India.