The global Roofing Chemicals market size is forecast to reach USD 167.27 billion from USD 95.52 billion in 2019, exhibiting a growth rate of 7.7% through 2027. The market growth is driven by the surging demand for energy-efficient buildings and the large-scale utilization of bio-based Roofing Membranes.
Roofing Membranes are witnessing high demand as they efficiently reflect the sunlight on roofs and aid in maintaining lower temperatures inside buildings. This, in turn, reduces the energy consumption for cooling residential or commercial buildings. Several industry players are focusing on expansions and new product development activities to offer environment-friendly and more energy-efficient solutions. The newly introduced Roofing Membranes offer low VOC (Volatile Organic Compound) emissions that are compliant with standards set by regulatory bodies in the European Union, such as the Restriction of Substances Directive (RoHS) and REACH.
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Further key findings from the report suggest
- Based on type, the bituminous segment has generated a revenue of USD 25.10 billion in 2019 and is forecast to hold 36.3% of the global Roofing Membrane market share through 2027. The robust growth can be attributed to the increasing adoption of bituminous material for residential and commercial buildings. Product properties like lightweight, non-combustible, and easy-to-use material are the key factors propelling demand.
- Based on application, Roofing Membranes is expected to contribute significantly to the Roofing Membranes market share over the forecast period due to growth in the development of prefabricated metal buildings and non-residential applications.
- The increasing number of suppliers and manufacturers of bitumen, elastomers, and epoxy resins is likely to drive global Roofing Membrane market growth over the analysis period.
Top Companies Operating in the Global Roofing Membranes Market:
BASF SE, E. I. du Pont de Nemours, and Company, The Dow Chemical Company, Saint-Gobain S.A., 3M, Owens Corning, Eastman Chemical Company, Akzo Nobel N.V., Sika AG, and GAF Materials Corporation, among others.
Roofing Membranes Market Segmentation
Type Outlook (Revenue, USD Billion; 2017-2027)
- Epoxy Resin
Application Outlook (Revenue, USD Billion; 2017-2027)
- Roofing Membranes
- Membrane Roofing
End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East Africa)
Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Roofing Membrane market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Roofing Membranes markets over the forecast years?
- Which are the leading players in the global Roofing Membrane market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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