The global roofing chemicals market is expected to be valued at USD 146.3 billion by 2025, according to a new report by Grand View Research, Inc. The high demand for efficient waterproofing and weather-resistant & highly elastic roofing solutions in new buildings as well as in the renovation of old buildings is anticipated to boost the growth of the market over the forecast period.
The growing demand for white elastomeric acrylic roof coatings to reduce the internal temperature of poorly ventilated and uninsulated buildings, thereby eliminating the need to investing air conditioning, is projected to propel the market over the forecast period. The wide applications of polyurethane membrane systems in old concrete, timber, built-up felt asphalt, and substrates is expected to be a major driving factor for this segment.
The rising number of R&D activities andmergers & acquisitions carried out by companies, such as The Dow Chemical Company, BraasMonier, GAF Materials Corporation, and Saint-Gobain,to expand their production capacities and operational & manufacturing facilities in the roofing chemicals business is projected to propel the market over the next eight years.
The growing infrastructure in developing and developed economies such as the U.S., China, India, and Germany owing to the significant growth in the global construction industry is projected to drive the market over the forecast period.
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Further key findings from the report suggest:
- The global demand for roofing chemicals was valued at USD 75.5 billion in 2016 and is expected to record a CAGR of 7.7% over the forecast period
- Asphalt emerged as the largest segment of the market by type and generated revenue of USD 30.41 billion in 2016
- The growing number of manufacturers and suppliers of asphalt, elastomers, acrylic resins, epoxy resins, and styrene is anticipated to spur market growth over the forecast period
- Membrane roofing was the significant application segment in 2016 and is anticipated to hold a considerable share in the market over the forecast period
- Regulations have been provided by the Occupational, Safety & Health Administration(OSHA) in the U.S. for the safety and protection of workers on roofing jobs
- Asia Pacific is likely to be a significant regional segment over the next eight years, reporting an estimated CAGR of around 8.1%
- The increasing demand for cool roofs to conserve energy is projected to be a major driver for the regional markets
- In January 2017, BASF acquired the European building material business of Henkel AG & Co. KGaAenhance its portfolio of construction chemicals
- Players operating in the roofing chemicals market include BASF SE, The Dow Chemicals Company, E.I. du Pont de Nemours and Company (DuPont), and Saint-Gobain S.A.
Grand View Research has segmented the global roofing chemicals market on the basis of type, application, and region:
Roofing Chemicals Type Outlook (Revenue, USD Billion; 2014 - 2025)
- Acrylic resin
- Asphalt/ Bituminous
- Epoxy resin
Roofing Chemicals Application Outlook (Revenue, USD Billion; 2014 - 2025)
- Membrane roofing
- Elastomeric roofing
- Bituminous roofing
- Metal roofing
- Plastic (PVC) roofing
Roofing Chemicals Regional Outlook (Revenue, USD Billion; 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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