New York (US), May 10, 2023 (GLOBE NEWSWIRE) -- Roofing Adhesives Market Overview
The MRFR analysis reports predict that the “Roofing Adhesives Market Research Report Information By Type, Application, Technology, and Region - Market Forecast Till 2032”. The Roofing Adhesives market is projected to grow from USD 6.7 Billion in 2023 to USD 10.7 Billion by 2032, exhibiting a (CAGR) of 6.10% during the forecast period (2023 - 2032).
Market Highlights
Roofing adhesives can be used for a wide variety of roofing tasks, such as gluing tiles and installing insulation. The high strength bonding, low temperature flexibility, long-lasting sealing, quick and simple application, and prevention of bleeding, staining, and discoloration should all be features of these adhesives. Although few multi-purpose solutions may be utilized effectively with the various materials, including residential roofing, sports roofing, and non-residential roofing, different types of floor adhesives are used for different types of roofing.
As a means of eradicating the negative environmental consequences of chemical manufacturing and focusing on lowering volatile organic compound (VOC) emissions, roofing adhesive manufacturing companies are progressively using green and sustainable practices. For instance, when exposed to high moisture content or heat, construction materials produce significant levels of VOC. These adhesive materials help the products have a lower carbon impact. Additionally, biodegradable roofing adhesives are meant to be broken down by bacteria and other microbes. During the deteriorating process, water, carbon dioxide, and other natural gases that are controlled by the environment are created. The demand for ecologically friendly practices and biodegradable roofing adhesives is expected to increase, which will accelerate the market growth for roofing adhesives.
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Industry players profiled in the global roofing adhesives market report include include
- Polyglass USA
- Inc
- MAPEI S.p.A.
- Sika AG
- Henkel AG & Co. KgaA
- BASF SE
- 3M
- Bostik
- H.B. Fuller
- Arkema
- Taylor
- Apollo Roofing Solutions
- GAF
- Karnak
- Chemlink
- Wacker Chemie AG
- Pidilite Industries Ltd.
- Johns Manville
- Liquid Nails
- IKO Industries Ltd.
- Finpan
- Among others
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 10.7 Billion |
| CAGR | 6.10% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Increasing demand for epoxy resins and growing construction activities |
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Restraints and Challenges
High Cost to act as Market Restraint
The high floor adhesive production cost, strict government regulations to use roof adhesives, and difficult application process may act as market restraints over the forecast period.
COVID-19 Analysis
The roofing adhesive market suffered as a result of the coronavirus outbreak. Due to this pandemic, governments everywhere have implemented strict regulations, which have had an impact on the expansion of the market. The main industries that used roof adhesive, like residential and non-residential construction, have also stopped operating, which has led to a fall in demand for building supplies like roof adhesive on a global scale. Additionally, the majority of raw material suppliers in the market were forced to shut down their businesses, and the big suppliers shifted their focus to pandemic assistance.
Drivers
Increasing Need for Epoxy Resins to Boost Market Growth
Epoxy resin systems are widely used to connect concrete to other materials, such as wood, metal, rubber, & others. When employed, epoxy resin-based roof adhesives in fact have a variety of benefits. Due to some of the advantages offered, such as 100 percent tough bond, VOC free, non-corrosive, high peel strength, etc., epoxy roof adhesives have wide usage in industrial areas, residential, commercial, and public places, such as shopping malls, hospitals, institutions, schools, prisons, industrial buildings, and sports arenas. At 25°C, epoxy bonding chemicals have a pot life of 15–30 minute or setting time, thus it is crucial to just mix a tiny amount that can be used efficiently in that time.
Opportunities
Rising Residential Construction to offer Robust Opportunities
By increasing funding & investment in residential buildings, the residential sector is expanding. In the residential building sector, roofing adhesives are utilized to hold the insulation, flashings, field membrane & the whole roof system in place. Growing government-funded residential construction projects and rising per capita income are expanding the residential construction sector.
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Market Segmentation
The global roofing adhesives market is bifurcated based on type, technology, and application.
By type, epoxy segment will lead the market over the forecast period. The epoxy segment, which presently controls the market, is predicted to grow over the course of the forecast period for the increased need from the commercial sector around the world. It is a synthetic substance that, when heated, solidifies. It can withstand bad weather because of its excellent capabilities, which include chemical resistance & adherence of the other physical properties.
By technology, waterborne will domineer the market over the forecast period. Federal environmental requirements, their incredible flexibility, glossy appearance, and high shear strength act as their main propellants. Solvent-borne refers to a mixture of substances that have been dissolved in a solvent.
By application, residential will spearhead the market over the forecast period. The market for roofing adhesives is being driven by a number of factors, including a shift towards nuclear families, rising income levels, low interest rates, & modern attitudes towards home ownership in numerous countries anticipating new construction activity.
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Regional Analysis
APAC to Head Roofing Adhesives Market
The Asia-Pacific region held the maximum market share of about 45.80%. The region's burgeoning need for floor adhesives is a result of the expansion of the building industry in countries like China, India, & the ASEAN countries. The bulk of roofing adhesives in fact are made in Asia-Pacific. Among the leading manufacturers of roofing adhesives are Sika AG, Bostik (Arkema Group), Pidilite Industries Ltd., MAPEI S.p.A., & 3M. The Chinese government has outlined extensive expansion plans, including making preparations for the relocation of the 250 million citizens to its novel mega cities over the upcoming ten years, despite attempts to restructure its economy to be more service-oriented. Over 9% of India's GDP is spent on infrastructure-related costs. The Indian government provided a handsome amount towards the infrastructure sector in the Union Budget 2018-2019. As a result, it is likely that in the projected period, demand for roofing adhesives will increase along with the extension of construction activities. Additionally, the market had the Asia-Pacific region's fastest expanding market and China's Roofing Adhesives market had the biggest market share.
North America to Have Admirable Growth in Roofing Adhesives Market
North America Roofing Adhesives Market accounted for the second highest share of the market as a result of the region's expanding demand for roofing adhesives. The expansion of residential & non-residential constructions as well as the population's increased disposable income should contribute to the expansion of the global market. Additionally, the North American Roofing Adhesives market in North America was led by the U.S., which had the biggest market share, and Canada, which had the quickest rate of growth.
Industry Updates
March 2023- The Garland Company, a maker of multi-modified bitumen roofing systems with its headquarters in Cleveland, added Green-Lock Plus White recently to its lineup of high-performance Green-Lock Plus adhesives. When paired with white marble aggregate, the new white adhesive offers the extra benefit of acting as a reflecting surfacing alternative.
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