Roofing Chemicals Market Research: Demand and Key Findings
Roofing chemicals refer to a
variegated range of chemicals which are used to enhance the performance of roof
coatings. These chemicals imparts high reflectivity properties to rooftops thus
enabling the maintenance of lower temperatures in the house. This in turn helps
significantly in reducing the energy consumption required to keep the
temperature low, and thus, helps in reducing carbon emissions. The advent of
cool roof technology companies which includes roof designing, coating and
chemicals, has led roofing chemicals to gain increasing awareness over last few
years.
Most companies in the roofing chemicals industry are relying
on increased product innovations and are introducing products which not only
offers high solar reflectance index, but also adds significantly to the life of
roof, and caters high elasticity, reliable adhesion and dirt resistance. The
global roofing market is projected to reach USD 270.40 Billion by 2026, at a
CAGR of 4.9% from 2016 to 2026.
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Global Roofing Chemicals Market:
Drivers and Restraints
The prime factor driving demand for roofing chemicals is the need for sustainable living standards, which incorporates reduction of carbon footprint of houses, as roofing chemicals helps primarily to reduce in-house temperatures, thus requiring less energy to cool the house, in turn reducing carbon emissions. Moreover, the need to increase longevity of the construction is further fuelling the demand for roofing chemicals, as they inherently helps in overheating and thus extends roof life. This coupled with a rapid increase in construction activity across all developing nations, particularly, in Asia are together translating into rising demand for roofing chemicals. Along with, increasing awareness about the benefits of roofing chemical is another integral factor imparting growth numbers to the global roofing chemicals market. Increase in the presence of bituminous roofing due to its more durability and usage in warehouses and factories is also driving more demand for asphalt bituminous roofing chemicals. Moreover, added features of asphalt roofing such as protection against fire, wind and hail is also adding more demand for asphalt based roofing chemicals.
Global Roofing Chemicals Market:
Segmentation
On the Basis of Type:
- Asphalt/Bituminous
- Acrylic Resins
- Epoxy Resins
- Elastomers
- Styrene
On the Basis of Application:
- Bituminous Roofing
- Metal Roofing
- Elastomeric Roofing
- Membrane Roofing
- Plastic (PVC) Roofing
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On the Basis of Region:
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Others
- North America
- U.S.
- Canada
- Mexico
- Western Europe
- Germany
- France
- U.K.
- Rest of Western Europe
- Central & Eastern Europe
- Russia
- Turkey
- Rest of Central & Eastern Europe
- South America
- Brazil
- Argentina
- Others
- Middle East & Africa
- UAE
- Saudi Arabia
- Nigeria
- Others
Global Roofing Chemicals Market:
Region Wise Outlook
The global roofing Chemicals
market is segmented into the seven key regions: North America, Latin America,
Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan
and Middle East and Africa (MEA). North America is the leading market considering
demand for roofing chemicals, amid stringent regulations regarding energy
conversation in the US and Canada. Moreover, rising construction activities in
Asia Pacific, particularly in China and India, is letting the APEJ region to
expand the fastest in terms of demand for roofing chemicals. Due to high
inclination of most European governments towards low energy consumption per
capita, ha led demand for roofing chemicals in Western Europe to scale high.
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Asia-Pacific: The largest market
for roofing chemicals
The Asia-Pacific region is the
largest market in the global roofing chemicals market, in terms of value, and
this trend is expected to continue till 2026. Countries in this region such as
China, India, Japan, South Korea, and Australia and New Zealand are witnessing
an increase in the use of roofing chemicals in residential and commercial
buildings in the construction industry. This growth is chiefly due to the high
economic growth and growing population that is driving the demand for roofing
chemicals for residential and commercial buildings. India is the
fastest-growing market for roofing chemicals and this trend is expected to
continue till 2026.
Roofing Chemicals Market Key
Players
The roofing chemicals market has
many global players competing for market shares. These companies are actively
investing in various strategies such as, new product developments,
acquisitions, and expansion projects globally, to further increase their market
shares. Major manufacturers such as BASF SE (Germany), The Dow Chemical Company
(U.S), Saint-Gobain S.A. (France), 3M Company (U.S), Akzo Nobel N.V (The
Netherlands), Sika AG (Switzerland), and others have adopted various organic
and inorganic developmental strategies in the Asia-Pacific region to expand
their businesses in the region.
The Dow Chemical Company (U.S) is the most active player in the roofing chemicals market. It accounted for the largest share of all the developmental activities undertaken in the roofing chemicals market. As a part of its strategy, the company focuses on expanding its roofing chemicals business by investing in new product development activities, mergers & acquisitions and expansions.
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