Worldwide Roofing Chemicals Industry to 2026
Dublin, July 16, 2021 (GLOBE NEWSWIRE) — The “Roofing Chemicals Market – Growth, Trends, COVID-19 Impact and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s to offer.
The roofing chemicals market is expected to register a CAGR of over 4% during the forecast period. The main driving force behind the market is the increasing demand for residential roofing chemicals for better roof finishes
Growing demand from the housing sector for better roofing, energy efficiency and carbon footprint reduction is expected to drive the market over the forecast period.
Innovations related to bio-based roofing chemicals have presented several opportunities for the growth of the market and are expected to further enhance the growth of the roofing chemicals market in the future. The Asia-Pacific region is estimated to dominate the roofing chemicals market and is also expected to be the fastest growing region over the forecast period.
Key Market Trends
Growing demand from the residential sector
The emergence of the global building and construction industry has greatly increased the demand for high quality and more efficient roofing chemicals.
The advantage of roofing chemicals over traditional and other roofing methods is that it reflects more sunlight and absorbs less heat, which helps maintain the internal building temperature. It also improves the durability of the surface and extends the life of the roof.
Roofing chemicals have helped reduce the carbon footprint by keeping the buildings cool and reducing the use of the HVAC system, reducing power consumption.
By 2020, total spending on construction activities worldwide is estimated to be $11.9 trillion and by the end of 2024 it is projected to exceed $14 trillion.
Total construction spending accounts for 13% of global GDP and high spending in the construction industry in the coming years is expected to fuel the growth of the roofing chemicals market.
Asia-Pacific region to dominate the market
The Asia-Pacific region holds the highest market share for the roofing chemicals market due to the high construction activity in the region.
The Asia-Pacific region accounts for approximately 46% of global construction spending. China ranks first for the highest spending in the construction industry worldwide.
It was estimated that the market value of China’s construction industry would be $969.06 billion in 2019.
The real estate sector in India is expected to reach a value of USD 180 billion by the end of 2020.
The above factors contribute to the increasing demand for roofing chemicals in the region during the forecast period.
The market for roofing chemicals is partly fragmented. Some of the players operating in the market include BASF SE, Dow, Saint-Gobain SA, 3M and Owens Corning.
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Main topics covered:
2 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1.1 Rapidly growing demand from the residential sector
4.1.2 Other drivers
4.3 Sectoral value chain analysis
4.4 Porter’s Five Forces Analysis
4.4.1 Supplier bargaining power
4.4.2 Consumer bargaining power
4.4.3 Threat of newcomers
4.4.4 Threat to Substitute Products and Services
4.4.5 Degree of competition
5 MARKET SEGMENTATION
5.1.2 Acrylic resin
5.1.3 Epoxy resin
5.1.6 Other products
5.2 End user industry
5.2.3 Other end-user sectors
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and acquisitions, joint ventures, collaborations and agreements samenwerking
6.2 Market share analysis
6.3 Strategies adopted by leading players
6.4 Company profiles
6.4.2 Akzo Nobel NV
6.4.3 BASF SE
6.4.4 Carlisle Companies Inc.
6.4.6 Eastman Chemical Company
6.4.8 Johns Manville
6.4.9 Owens Corning
6.4.10 Saint-Gobain SA
6.4.11 Sika AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of bio-based roofing chemicals
7.2 Other options
For more information about this report, visit https://www.researchandmarkets.com/r/nj6p8r
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