Roofing Chemicals Market Size, Key Factors, Major Players, Growth Strategies, Trends, Forecast Till 2027
The global Roofing
Chemicals market size is forecast to reach USD 167.27 billion
from USD 95.52 billion in 2019, exhibiting a growth rate of 7.7% through 2027.
The market growth is driven by the surging demand for energy-efficient
buildings and large-scale utilization of bio-based roofing chemicals.
Roofing chemicals are witnessing high
demand as they efficiently reflect the sunlight on roofs and aid in maintaining
lower temperatures inside buildings. This, in turn, reduces the energy
consumption for cooling residential or commercial buildings. Several industry
players are focusing on expansions and new product development activities to
offer environment-friendly and more energy-efficient solutions. The newly
introduced roofing chemicals offer low VOC (Volatile Organic Compound)
emissions that are compliant with standards set by regulatory bodies in the
European Union, such as Restriction of Substances Directive (RoHS) and REACH.
The rise in the number of R&D
activities associated with the reduction of costs in the installation of
roofing systems will positively impact the roofing chemicals market. Moreover,
increasing investments in technological advancements in a bid to improve the
aesthetics of buildings, along with the efficiency of membrane material of
roofing chemicals, will foster market growth over the forecast period.
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Key participants in the global roofing
chemicals market include BASF SE, E.
I. du Pont de Nemours and Company, The Dow Chemical Company, Saint-Gobain S.A.,
3M, Owens Corning, Eastman Chemical Company, Akzo Nobel N.V., Sika AG, and GAF
Materials Corporation, among others.
Further key findings from the report suggest
- Based on type, the bituminous segment has
generated a revenue of USD 25.10 billion in 2019 and is forecast to hold
36.3% of the global roofing chemicals market share through 2027. The
robust growth can be attributed to the increasing adoption of bituminous
material for residential and commercial buildings. Product properties like
lightweight, non-combustible, and easy-to-use material are the key factors
propelling demand.
- Based on application, Metal roofing is expected
to contribute significantly to the roofing chemicals market share over the
forecast period due to growth in the development of prefabricated metal
buildings and non-residential applications.
- The increasing number of suppliers and
manufacturers of bitumen, elastomers, and epoxy resins is likely to drive
global roofing chemicals market growth over the analysis period.
- On the basis of end-use, the commercial
segment is estimated to witness substantial growth over the forecast
period due to a significant rise in infrastructure activities, including
roof repairing and remodeling.
- In the regional landscape, Asia Pacific
is expected to account for the majority of the global roofing chemicals
market share, delivering a CAGR of nearly 8.1% through 2027. Factors like
strong economic growth in China, population growth in India and China.
Besides, increased infrastructure development activities, the strong
presence of key manufacturers, along with the development of organic
roofing products in the region will supplement market revenue share over
the analysis period.
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For the purpose of this report, Reports and
Data has segmented the Global Roofing Chemicals Market on the basis of type,
application, end-use industry, and region:
Type Outlook
(Revenue, USD Billion; 2017-2027)
- Epoxy Resin
- Bituminous
- Asbestos
- Elastomers
- Others
Application
Outlook (Revenue, USD Billion; 2017-2027)
- Metal Roofing
- Membrane Roofing
- Others
End-Use Industry
Outlook (Revenue, USD Billion; 2017-2027)
- Residential
- Commercial
- Others
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Furthermore, the research study gives
additional insights into the companies’ regional presence through extensive
regional analysis. The regional analysis covers the key geographical regions
such as North America, Latin America,
Europe, Asia-Pacific, and the Middle East & Africa. The regional
analysis segment covers details about the market share held by each region
along with the prospective growth opportunities and revenue generation. The
report also offers a projection of the growth rate for each region in the
entirety of the forecast timeline. It also offers a country-wise analysis to
impart a better understanding of the industry.
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