Roofing Chemicals Market Scope:
The roofing chemicals market refers to the market for chemicals and materials used in the construction and maintenance of roofs on buildings and other structures. The global roofing chemicals market is projected to be valued at USD 160.25 Billion by 2026, at a CAGR of 7.8% from 2016 to 2026. The market research report of Roofing Chemicals Market provides analysis by Type (Acrylic Resin, Asphalt/Bituminous, Elastomer, Epoxy Resin, and Styrene), Application (Membrane, Elastomeric, Bituminous, Metal, and Plastic Roofing Materials) & region. These chemicals and materials are used to protect the roof from weathering, deterioration, and leaks, and to enhance the durability and lifespan of the roof. The market for roofing chemicals is expected to grow in the coming years due to increasing construction activity and the need for maintenance and repair of existing roofs. The market is segmented based on the type of roofing material, application, and end-use industry. Some of the key players in the roofing chemicals market include Sika AG, BASF SE, The Dow Chemical Company, and 3M.
Roofing Chemicals Market Drivers:
There are several factors that drive the roofing chemicals market. Some of the key drivers include:
- Increasing construction activity: The construction industry is a major driver of the roofing chemicals market, as these chemicals are widely used in the construction and repair of roofs.
Rising demand for energy-efficient buildings: There is a growing demand for energy-efficient buildings, which use materials that help to reduce energy consumption. Roofing chemicals such as coatings and membranes can help to improve the energy efficiency of buildings by reducing heat loss and gain.
Technological advancements: The roofing chemicals market is also driven by technological advancements, which have led to the development of new and improved products. For example, the use of smart coatings and membranes that can self-repair and extend the life of a roof is increasing.
Government regulations: Government regulations and building codes also play a role in driving the roofing chemicals market. For example, the use of environmentally friendly roofing materials is becoming increasingly common, as governments seek to reduce the environmental impact of construction.
Economic growth: Economic growth is also a key driver of the roofing chemicals market, as it leads to increased construction activity and a greater demand for roofing materials.
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Roofing Chemicals Market Segmentation:
The roofing chemicals market can be segmented in several ways, including by type, application, and region.
- Acrylic Resins
- Epoxy Resins
Asphalt/Bituminous: The most-widely used type of roofing chemical
Asphalt/Bituminous roll roofing or membrane is a roofing material commonly used for buildings. The material is based on the same materials used in asphalt shingles. The asphalt/bituminous is the most-widely used type of roofing chemical. Asphalt has a proven track record of performance, with wide choice in top-surfacing, good insulation, reduced permanent deformation, reduced flushing, improved texture and longevity properties.
- Bituminous Roofing
- Metal Roofing
- Elastomeric Roofing
- Membrane Roofing
- Plastic (PVC) Roofing
Bituminous Roofing: The largest application of roofing chemicals
Bituminous roofs are generally considered for their rigidness and long life. Bituminous roofs have the capability to last through the duration of any housing structure. They can be used with conventional shingles, which makes them suitable for quick installation. Bituminous mixed with rubber can also be used in roofing systems.
- South Korea
- North America
- Western Europe
- Rest of Western Europe
- Central & Eastern Europe
- Rest of Central & Eastern Europe
- South America
- Middle East & Africa
- Saudi Arabia
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.
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Roofing Chemicals Market Key Players
- 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)
- Owens Corning (U.S)
- Carlisle Companies Incorporated (U.S)
- Johns Manville (U.S)
- GAF Materials Corporation (U.S)
- Firestone Building Products (U.S)
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.
The roofing chemicals market is also being impacted by environmental concerns, as there is a growing demand for eco-friendly and sustainable roofing products. This has led to the development of roofing chemicals made from renewable resources and the use of recycled materials in roofing products.
The roofing chemicals market is facing some challenges, such as fluctuating raw material prices and the impact of COVID-19 on the construction industry. However, the market is expected to recover and continue to grow in the coming years.
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