Global Roofing Chemicals Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Roofing Chemicals Market Overview:

“The global Roofing Chemicals Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Roofing chemicals refer to a substance which are used on roofs to improve its properties and performance. Roofing chemicals are primarily made up of rubber or modified bitumen and is commonly used in the construction industry. It makes the roof waterproof and weather resistant which automatically increases the durability of the surface.

These chemicals have high reflectivity, provides better sealing properties to rooftops and also helps to control the interior temperature of the building. They are resistance to fire, high wind and other conditions.

Availability of innovative construction solutions that are durable and require low maintenance, is impacting the market positively. New construction start-ups, automatically increases demand for roofing chemicals. The rising need to reduce the carbon emissions anticipated to drive the market over the forecast period. Recent trend shows that, demand for effective waterproofing, weather-resistant & highly elastic roofing solutions in new buildings as well as in the renovation of old buildings is increasing, which is fueling growth of the market.

Growing R&D activities associated with cost reduction in the installation of roofing systems and technological advancements in order to improve the aesthetics of buildings is likely to positively affect demand for the product. Whereas, roofing chemicals market has various constraints that hinder growth of the market such as higher manufacturing & installation costs and competition among different resin suppliers.

Geographically, Asia Pacific market is the largest & fastest growing market for roofing chemicals, followed by Europe and North America. Emerging countries such as China, India and Japan drives roofing chemicals market owing to factors such as increasing construction activities as well as the real estate boom in the country. In addition, increasing demand for thermal management buildings, and changing lifestyle trend toward sustainable living are some of the factors driving the roofing chemicals demand. Moreover, factors such as strong presence of key manufacturers and development of bio-based roof coating products are expected to boost market.

Strict regulatory framework for eco-friendly components in roofing systems in Europe is also expected to drive the market. Furthermore, inclination towards energy security, efficient housing and green buildings are the factors driving growth of the market in European region. Demand for high-performance roofing chemicals from Middle East & Africa and Latin America is also fueling the roofing chemicals market.

In 2016, GAF acquired Icopal, European manufacturer of roofing and waterproofing products. This initiative extended the company’s presence onto both sides of the Atlantic.

Global roofing chemicals market segmentation:

Segmentation by product:

• Asphalt/Bituminous
• Acrylic Resins
• Epoxy Resins
• Elastomers
• Styrene

Segmentation by Application:

• Bituminous Roofing
• Metal Roofing
• Elastomeric Roofing
• Membrane Roofing
• Plastic (PVC) Roofing

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa