Enjoy complimentary customisation on priority with our Enterprise License!
The roofing chemicals market share is expected to increase by USD 50.63 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.57%.
This roofing chemicals market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers roofing chemicals market segmentation by product (asphalt, acrylic resin, epoxy resin, elastomer, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The roofing chemicals market report also offers information on several market vendors, including Akzo Nobel NV, 3M Corp., Atlas Roofing Corp., BASF SE, Berkshire Hathaway Inc., CICO Group, Compagnie de Saint Gobain SA, DuPont de Nemours Inc., Eastman Chemical Co., GAF Materials LLC, Henry Co., Industrial Foams Pvt. Ltd., LafargeHolcim Ltd., National Coatings Corp., NovaTuff Coatings, Owens Corning, PPG Industries Inc., Sika AG, SOPREMA SAS, and The Dow Chemical Co. among others.
Download the Free Report Sample to Unlock the Roofing Chemicals Market Size for the Forecast Period and Other Important Statistics
The growing need for thermal management in buildings is notably driving the roofing chemicals market growth, although factors such as fluctuations in crude oil prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the roofing chemicals industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Roofing Chemicals Market Driver
One of the key factors driving the global roofing chemicals industry growth is the growing need for thermal management in buildings due to the rising sustainable living standards and growing middle-class population. The use of roofing chemicals on the rooftops reduces energy consumption by keeping the temperature low and results in reduced carbon emissions. Reflective roof chemicals shield the roofing materials from UV light also. Roofing chemicals can extend the lifespan of roofs, reduce cooling energy costs by 20% to 70%, and can also reduce air pollution. The necessity for cool non-white coatings arose as dark colors absorb more heat and are also aesthetically more appealing. The rising development of dark color coatings with special pigments that reflect solar radiation will help drive the demand for roofing chemicals during the forecast period.
Key Roofing Chemicals Market Trend
Rising development of bio-based roofing chemicals is one of the key roofing chemicals market trends that is expected to impact the industry positively in the forecast period. Globally, many consumers are looking for greener, bio-based, or natural chemistries to replace petrochemical-based products. The growing necessity to eliminate VOCs and other hazardous air pollutants (HAP) from coating formulations is driving the use of renewable resources such as vegetable oils, plants and starch, and other bio-based resources. For instance, Icopal, a leading manufacturer of roofing chemicals developed the first 100% bio-based roofing under the project DISCOVER. Owing to their high biodegradability, lower toxicity, and improved life cycle, bio-based roofing products can yield high performance, higher flash points, and reduced HAP emissions, which may support the market growth in the coming years.
Key Roofing Chemicals Market Challenge
One of the key challenges to the global roofing chemicals industry growth is the fluctuations in crude oil prices. As most of the roofing chemicals, including asphalt/bitumen, epoxy resins, and acrylic resins, are derived from petrochemicals, the fluctuations in the crude oil prices create a supply-demand imbalance. The fluctuating crude oil prices have a direct impact on the demand and supply of raw materials for manufacturing roofing chemicals. Due to the overproduction of oil by some members of the Organization of Petroleum Exporting Countries (OPEC), there has been an imbalance in the global demand-supply of oil. Moreover, the growing tensions arising out of Russia's attack on Ukraine have led to a sharp spike in crude oil prices. The Ukraine government assured that it is closely monitoring global energy markets and potential supply disruptions and is ready to ensure supplies at stable prices. These fluctuations in crude oil prices are expected to hamper the growth of the global roofing chemicals market during the forecast period.
This roofing chemicals market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global roofing chemicals as a part of the global building products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the roofing chemicals market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the roofing chemicals market encompasses successful business strategies deployed by the key vendors. The roofing chemicals market is concentrated and the vendors are deploying growth strategies such as joint ventures, M&A, and partnerships to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The roofing chemicals market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the roofing chemicals market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
47% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for roofing chemicals in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing building and construction industry, rapid industrialization, urbanization, and the increasing population will facilitate the roofing chemicals market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 hampered the demand for roofing chemicals in this region. Several countries, including China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, were under partial or full lockdowns due to the pandemic. However, in 2021, the initiation of COVID-19 vaccination drives led to the lifting of lockdown restrictions. This has resulted in the resumption of industrial operations, which has increased the demand for roofing chemicals in the region. Such factors are expected to drive the growth of the roofing chemicals market in the region during the forecast period.
To gain further insights on the market contribution of various segments Request for a FREE sample
The roofing chemicals market share growth by the asphalt segment will be significant during the forecast period. The growth is attributed to the wide application of asphalt/bituminous as a construction material in road construction, asphalt concrete, and waterproofing products. Bituminous roofing offers longevity-centric options when used on flat roofs as it is tear-resistant, waterproof, energy-efficient, flexible, and easy to repair and maintain.
This report provides an accurate prediction of the contribution of all the segments to the growth of the roofing chemicals market size and actionable market insights on post COVID-19 impact on each segment.
Roofing Chemicals Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.57% |
Market growth 2022-2026 |
$ 50.63 billion |
Market structure |
Concentrated |
YoY growth (%) |
6.82 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 47% |
Key consumer countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Akzo Nobel NV, 3M Corp., Atlas Roofing Corp., BASF SE, Berkshire Hathaway Inc., CICO Group, Compagnie de Saint Gobain SA, DuPont de Nemours Inc., Eastman Chemical Co., GAF Materials LLC, Henry Co., Industrial Foams Pvt. Ltd., LafargeHolcim Ltd., National Coatings Corp., NovaTuff Coatings, Owens Corning, PPG Industries Inc., Sika AG, SOPREMA SAS, and The Dow Chemical Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.