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Roofing Chemicals Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014-2024 by Acumen Research and Consulting

Press Release   •   Nov 10, 2017 01:33 EST

Introduction:

The process of water proofing of roof surfaces involves protecting it from adverse climatic conditions. The chemicals used for waterproofing the roof surface of any building structure such as decks, basements or roof surfaces are known as roofing chemicals. Roofing chemicals play an important role in enabling the roof surfaces to diminish the absorption of warmness and retain coolness inside the building. This process of keeping the roof surfaces cool helps in reduction of power consumption, thereby minimizing the operation cost for industries.

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Market Dynamics:

Growth in construction industry is the major factor for the increase in demand for roofing chemicals. Moreover, the increased requirement of thermal management in buildings drives the market for roofing chemicals. Also, the strict government regulations regarding energy preservation leads to the increased demand for roofing chemicals. The re-roofing activities taking place in the emerged economies such as US, UK, Germany, France, and Russia also drives the market for roofing chemicals. However, the huge investments required for manufacturing roofing chemicals and increased cost of installation restraints the market for roofing chemicals. Moreover, fluctuating crude oil prices are hampering the production of roofing chemicals and in turn adversely affecting the demand. The manufacturers of roofing chemicals have enormous growth opportunity owing to the increase in construction sector in the emerging economies such as India, Brazil, China, UAE, Saudi Arabia, Argentina, and parts of Africa.

Market Classification and Overview:

The Market For Roofing Chemicals is segmented by type, application and region. Based on type, the market is segmented into asphalt/bituminous, acrylic resin, epoxy resin, styrene, and elastomers. The market for roofing chemical was dominated by asphalt/bituminous roofing segment as it is widely used in the building construction owing to its properties like good insulation, abridged permanent deformation, and improved texture. Moreover, the low cost of material, flexibility and low crack formation drives the market for asphalt/bituminous segment hence increasing the roofing chemical market. Based on application, the market for roofing chemicals is segmented into membrane roofing, elastomeric roofing, bituminous roofing, and metal roofing, plastic (PVC) roofing.

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Bituminous roof application accounted for the largest share of the roofing chemicals market owing to the properties exhibited by the application. Bituminous application ensures rigidness and longer life. Bituminous roof lasts as long as the housing structure. Increased application of bituminous roofs in the residential and non-residential buildings, because of its properties such as high thickness and adhesiveness, drives the market for bituminous roofing, thereby having a positive impact on the roofing chemicals market.

Based on region, the market for roofing chemicals is segmented into North America, Asia-Pacific, Europe, Middle East and Africa (MEA), and Latin America. Asia-Pacific accounted for the maximum share of roofing chemical market in 2015. Growth in building and construction sector in India and China drives the market for roofing chemicals. Increased urbanization and growth in population is likely to fuel the market growth over the forecast period. The major revenue contributors in Asia-Pacific are expected to be countries such as India, China, Japan, Australia, South Korea, and New Zealand. These economies are likely to register an increased demand for roofing chemicals owing to the increase in residential and non-residential building construction.

Market Participants:

Key players in the roofing chemicals market adopted strategies such as mergers and acquisitions, expansion, new product launches, and agreements to meet the growing demand from the construction industry. Roofing chemical manufacturers are mainly focusing on development of bio-based products. The key players such as BASF SE, Saint-Gobain S.A., Sika AG, Akzo Nobel N.V, dominates the market.

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Market Segmentation

Market by Type

Asphalt/bituminous

Acrylic resin

Epoxy resin

Styrene

Elastomers

Market by Application

Membrane roofing

Elastomeric roofing

Bituminous roofing

Metal roofing

Plastic (PVC) roofing

Market by Geography

North America

o US

o Canada

o Mexico

Europe

o UK

o Germany

o France

o Rest of Europe

Asia-Pacific

o China

o Japan

o India

o Philippines

o Rest of Asia-Pacific

Latin America

o Brazil

o Chile

o Rest of Latin America

Middle East and Africa (MEA)

o South Africa

o Saudi Arabia

o Rest of MEA


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