Description
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.
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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.
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
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